Every once in a while, a new brand emerges that attracts a specific but influential segment of the industry. Interiors, launched in 2021 by Jack Miner and Lily Measmer, was no different. With its sophisticated eccentricity, the duo’s brand seemed to fill a niche in New York fashion, and quickly garnered attention. Interior seemed to have the right kind of clout, some hit products (at least within a closed bubble), and the right support. But today, Miner announced that Interior will cease all operations immediately. what happened?
“I did everything I could to fight this,” Miner said by phone Friday. “No founder or designer wants to end up in the position I was in. It just wasn’t where I wanted to be.”
When Minor and I last spoke, when he unveiled his fall 2024 collection at a presentation during NYFW in February, interiors were undergoing some changes. Mr. Measmer had left the brand, and Mr. Miner was moving forward by strengthening its direct-to-consumer business while maintaining existing relationships with stores. The interiors were part of Net-a-Porter’s Vanguard program and were sold at Bergdorf Goodman, Neiman Marcus, Saks, and more. Still, Miner also spoke at the time about the industry’s precarious state for small, independent companies. “As an emerging brand, we’re very susceptible to all kinds of fluctuations, so when there’s a shake-up in the market, big brands, mid-sized brands, larger-sized brands, we’re more susceptible to fluctuations of all kinds. You can maintain it in a way that you can’t,” he explained.
Interior, fall 2024 ready-to-wear.
Interior provided
Fall 2024 will be the brand’s last collection.
Interior provided
Miner was feeling hopeful about the fruitful fall market. “We ended this season with $700,000 in booking revenue, which was the highest we’ve ever had,” he said, giving a positive indication that things are heading in the right direction. “North Star aimed to reach a break-even point and operate on cash flow, rather than relying on other sources of funding that may or may not be available.” Interior has no outside partners or funding (“We did a very small funding round with friends and family, and although it existed on the books as debt rather than equity, the majority of the business was financed personally by me. (Miner explained.) Revenue in 2023 had reached $2 million, with a break-even target of $3 million in 2025. Distribution was expanding and the brand had secured several new accounts for fall 2024. Miner’s goal seemed entirely achievable.
Until it isn’t. “This just speaks to the volatility of the industry and how quickly things can change,” he said. “We had just developed a beautiful pre-spring collection that now will never see the light of day.” The pivotal event was the June market, where he was supposed to present and sell his pre-collection. Prior to this, it was our usual touch-based lineup with our interior wholesale partners. “All of these discussions have been really difficult. Despite our positive attitude regarding the brand in recent months, almost every partner has given us plans for either flat or year-on-year declines,” Miner said. said. Interiors was nominated by Fashion Trust US earlier this year and attracted attention from the CFDA/Vogue Fashion Fund. However, retail partners are seeing weaker sales in certain categories, citing macro factors such as economic uncertainty and upcoming elections, in addition to more specific hurdles such as delays in order fulfillment due to supply chain issues. he pointed out. There wasn’t much left for Miner to do. Last season, the market turmoil the designer mentioned hit the brand, and it was running out of time and money.
