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Need Supply Co.

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Need Supply Co.
FormerlyBlues Recycled Clothing
Industryclothing
Founded1996
Defunct2020
Fatedownturn in sales
Area served
United States
Japan
ProductsMen’s and Women’s Apparel, footwear, and accessories
Websitehttps://needsupply.com/

Need Supply Co. was a U.S.-based e-commerce brand established in 1996 as Blues Recycled Clothing. It was founded by Christopher Bossola, the current chief executive officer of Need Supply Co.'s parent company, NSTO. The company shut down in September 2020 due to financial problems brought on by the COVID-19 pandemic.[1]

Overview

Need Supply Co. was a clothing and lifestyle brand based in Richmond, Virginia. The business was started with 300 pairs of vintage Levi's and a 250 sq. ft. store.[2][3] The company later expanded their offerings to include men's and women's clothing (including luxury fashion and premium streetwear), accessories, footwear, beauty, and home products.[4]

In 2008, Need Supply Co. launched their web store at needsupply.com and have been growing a global customer base ever since.[2][3] They curate a mix of well-known brands and up-and-coming independent designers from the U.S. and abroad.[5][6][unreliable source?]

Inc. 5000 named Need Supply Co. to its 2013 list of America's Fastest-Growing Companies, earning a ranking of 723 of 5,000.[7][8]

In 2015, Need Supply Co. expanded into the Japanese market with stores in Tokyo.[2] The same year, the company started NEED, a men's and women's apparel line designed and produced exclusively for Need Supply Co.[9][10] In later years, NEED expanded into additional categories, including accessories and footwear.[5][11]

In 2016, Need Supply Co. minority shareholders Herschel Capital Co., acquired the Seattle-based luxury retailer, Totokaelo, and entered into a long-term operating agreement with Need Supply Co. management to oversee operations for Totokaelo's Seattle and New York retail stores, as well as their e-commerce fulfillment.[12][13]

Formal measures began in 2018 to merge both Need Supply Co. and Totokaelo under a single parent company, NSTO; the merger completed in 2019.[12] At that time, NSTO also consolidated multiple Richmond, VA offices and relocated their staff into a new global headquarters for NSTO in Richmond's Scott's Addition neighborhood.[12][5]

In 2019, Need Supply Co. (now officially NSTO) was again named to the Inc. 5000 list of America's Fastest-Growing Companies, earning a ranking of 1,711.[14]

Closure

The company permanently shut down in September 2020. The company had insufficient capital to survive a downturn in sales stemming from the COVID-19 pandemic.[15]

Human Being Journal

In 2012, Need Supply Co. started designing and producing a biannual print magazine entitled "Human Being Journal," which featured independent artists and designers from around the globe, in addition to features on music, food, culture, architecture, and fashion. The magazine was distributed globally and in 2014, was also translated into Japanese.[7] The Human Being Journal translation partnership eventually led to Need Supply Co. opening stores in Japan in 2015.[16]

References

  1. ^ Schneier, Matthew (7 July 2020). "Need Supply and Totokaelo Will Shutter". The Cut. New York Magazine. Retrieved 21 October 2020.
  2. ^ a b c Times-Dispatch, GREGORY J. GILLIGAN Richmond. "Carytown's Need Supply Co. opens store in Japan". Richmond Times-Dispatch. Retrieved 2019-11-05.
  3. ^ a b Christian, Scott (2017-02-17). "How Need Supply Went from a Small Shop to a Global Fashion Force". Esquire. Retrieved 2019-11-05.
  4. ^ "Shoptalk Series, Part 4 Need Supply Co. and Wayfair: Setting the Standard for Next-Gen Shopping – Retales From the Frontline". Retrieved 2019-11-05.
  5. ^ a b c Hylton, David. "Need Supply Co. to expand, relocate in Scott's Addition". nbc12.com. Retrieved 2019-11-05.{{cite web}}: CS1 maint: url-status (link)
  6. ^ Binlot, Ann. ""We Do Things That We Believe In": Need Supply's Gabriel Ricioppo On Surviving 20 Years In Retail". Forbes. Retrieved 2019-11-05.
  7. ^ a b "Need Supply Co.'s Creative Director on How it Started From the Bottom and is Now One of the Nations Fastest-Growing Companies". Complex. Retrieved 2019-11-05.
  8. ^ Bryant, Kenzie (2013-11-18). "Need Supply Co.'s Gabriel Ricioppo: 'Do the Most With the Least'". Racked. Retrieved 2019-11-05.
  9. ^ Mau, Dhani. "Need Supply Co. to Open Stores in Japan, Launch In-House Line". Fashionista. Retrieved 2019-11-05.
  10. ^ Hamanaka, Kari (2017-02-21). "Need Supply Looks to Category Expansion After Apparel Launch". WWD. Retrieved 2019-11-05.
  11. ^ Turk, Robyn (2019-06-12). "Need Supply Co. extends branded categories, launches footwear line". fashionunited.uk. Retrieved 2019-11-05.
  12. ^ a b c August 3; BestClayton, 2019 (2016-09-06). "Totokaelo Acquired by Herschel Supply Co. -". Retrieved 2019-11-05. {{cite web}}: |first2= has numeric name (help)CS1 maint: numeric names: authors list (link)
  13. ^ "42 local companies make Inc. 5000 list". Richmond BizSense. 2019-08-15. Retrieved 2019-11-05.
  14. ^ "Need Supply Co". Inc.com. Retrieved 2020-01-29.
  15. ^ Times-Dispatch, GREGORY J. GILLIGAN Richmond (17 September 2020). "'We just didn't have the reserves to weather' the pandemic: Richmond-based Need Supply shuts down after becoming a global retailer". Richmond Times-Dispatch. Richmond Times-Dispatch. Retrieved 21 October 2020.
  16. ^ Dickerson, Trevor (2015-10-08). "Carytown retailer Need Supply Co. opening two new stores–in Japan". RVANews. Retrieved 2019-11-05.
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