High-end Chicago boutique Jake garnered reams of national press in the past five years for its finely curated selection of independent designers, but today’s piece in the New York Times’ Style section is one that former owners/now “employees” (see article for explanation) Lance Lawson and Jim Wetzel would surely have preferred remained invisible to the public eye. Essentially the article discusses the difficulty the boutique has had paying its bills during the slump in the economy, and the large debts it now owes to those designers/suppliers it championed.
One thing that is exciting about this piece? The NYT used the above photo which originally ran in The Get.
One thing that strikes me as slightly strange: Were there no New York retailers with similar problems? That seems hard to believe.
“Were there no New York retailers with similar problems?”
The question is: Were there no NY retailers who screwed MORE THAN 80 designers in one season? Doubt it.
I mean, I don’t know much but it SEEMS to me, that Jake was highlighted in the article for their shady behavior (too much to print!). They have set back DOZENS of young designers to square one.
And NO ONE is buying this “foreclosure” BS. Sniff sniff, I smell bacon…the sheriff’s coming………
Hugs and kisses.
Jebb
New York retailers may have had similar problems, but did they file for bankruptcy to avoid paying bills, only to start a new company doing the same thing?
Would any reputable New York retailer steal from vendors to line their own pockets?
Better yet, why would you show up at Paris fashion week when your company has no money?
Unfortunately the nyt is true. It’s so sad to see a Chicago boutique get such press for such true events. They always have dreamed about being in the new York times but not in such a way. Hopefully this will serve as a wake up call for retail in general as well as Jim and lance themselves. It’s simply wrong from all angles. Cheers! I wrote this drinking from a glass of champagne I have already paid for
Umm…most new yorkers saw the recession escalating and made smart decisions to scale back for a season or two to avoid over-extension. A few retailers did make decisions to close their doors. Barney’s is on the verge of bankruptcy, but what else is new. Jake, like a few other dumb-dumb retailers (maybe a little too tied up in personal ego) really kept to the fast track for expansion and growth without taking a minute to breathe. In the economic climate of the times when Jake first opened, a retailer could throw any piece of junk in a boutique and sell sell sell! Not really the case these days. It seems that it should be absolutely required that a retailer of this size take responsibility for their actions- they placed the orders for their merchandise and they should have thought it through a bit more, as the two are seasoned in the retail business. It will be interesting to see what crap they bring in to their store now that they have scorched so many relationships. And to agree with Jebb, I don’t buy the foreclosure business either- sleazebags. Sucks to be called out by the NYTimes though- bummer.
Though the article highlighted their financial woes and the designers who suffered because of it, it is suspiciously one-sided. It is despicable how Jake’s dirty laundry was aired without giving their side of the story.
One thing not focused on is how many of those designers would not have gotten as far in the business without Jake. Many large store won’t even look new and emerging lines, but Jake took a chance on them and helped them get their start.
Am I saying what happened in the end should just be forgotten? Absolutely not. But also keep in mind there are many sides to the story. And quite a few of these designers could still be struggling to even get their name out there if it wasn’t for Jake.
Ummm was comment 5 written by Jim Wetzel or Lance Lawson? Bottom line the reason Jake is still around is because these 2 idiots took merchandise sold it for 100% profit and did not pay their vendors. If I were to walk in a store and leave with $5000 worth of merchandise unpaid for I would be in jail. At the end of the day though their world will come crashing in on them and they will lose everything as they should. The truly sad part about this it was avoidable.
Truth is, Jake continues it’s shady behavior and refusal to pay designers. They owe me thousands, and this is after the restructuring. Lance Lawson continually lies to me about payments being sent out. Absolutely dispicable.