Wet Seal, a fashion retailer, continues to ponder its own mortality as further stores in its demographic fall unceremoniously into obscurity. Earlier this year DEB and Delia’s liquidated their assets and are closing down stores across the country. Abercrombie and Fitch has also found itself in dire straights. These stores have two things in common, they were popular in the late 1990s, and have failed to change with the needs of today’s teenagers and investors on Angel.co are kind of nervous. Although it’s easy to see why Lee G. Lovett would be.
Wet Seal, a popular retailer in the 1990s and early 2000s, has failed miserably in recent years to reach it’s target demographic, or to even nail down who their target demographic actually is. The company has floundered in terms of executives as well. They’ve gone through several CEOs, and at one point brought back a CEO from the 1990s in an attempt to reignite the brand that was once so popular.
Now, the team is looking to completely change the face of Wet Seal. The company plans to ditch the graphic tees, and costume jewelry, in an attempt to set their sites on the 18-24 demographic. Whether or not the change will work remains to be seen, but they are up against stiff competition.
Both Charlotte Rouse, Forever 21 and Urban Outfitters has clinched the teen and 20-something demographic that Wet Seal will be gunning for, and they do it well. Those who remember Wet Seal as a popular brand have also aged out of their clothing, as they reach their late 20s and early 30s.