"Launched in 2019 by then-university students Cami Téllez and Jack DeFuria, Parade cultivated an online following by embracing size diversity and accessible pricing, and by sending free products to "microinfluencers" in exchange for promotional posts across social media. While other fashion companies floundered during the heavily online Covid-19 pandemic, Parade earned $10 million in revenue on the back of its viral marketing strategy."
"In 2021, the cult favourite opened its first brick-and-mortar location, in SoHo; at its closure amid the expiration of its lease in 2022, the store had broken even. Following reports of longstanding financial troubles centred on profitability versus growth at the embattled brand, Téllez stepped down from Parade as CEO in 2023, following its acquisition by Fruit of the Loom licence holder Ariela & Associates."
"Parade's online inventory is currently limited to 42 styles of underwear, with 50 percent off all products on its website. Learn more: What Happened at Parade The underwear start-up was once pegged as Gen-Z's answer to Victoria's Secret. But investors, executives and founder Cami Téllez couldn't agree on whether to prioritise growth or profitability. They ended up with the worst of both worlds."
Parade, a direct-to-consumer underwear brand launched in 2019 by Cami Téllez and Jack DeFuria, will close on Oct. 28. The brand built an online following through size diversity, accessible pricing and sending free products to microinfluencers, reaching $10 million in revenue during the Covid-19 period. A SoHo store opened in 2021 and broke even before its lease expired in 2022. Reports of financial tension between growth and profitability led to Téllez stepping down as CEO in 2023 after acquisition by Ariela & Associates. Online inventory is now limited and offered at 50 percent off.
Read at The Business of Fashion
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