Steve & Barry’s Bankruptcy, Gucci Olympic Collection, 40 Pages of Barneys Shoes on Sale!

As everyone has been speculating, the Steve and Barry’s bankruptcy is official; the paperwork was filed today in Manhattan. As we first chatted about it back on May 5th, and then again just last week, the company’s ability to make a profit with clothing priced at $8.98 became questionable. As gas prices went north and the economy went south, so did Steve and Barrry’s business.

The company is known for its lines associated with celebrities like actress Sarah Jessica Parker, basketball stars Stephon Marbury and Ben Wallace, surfer Laird Hamilton, tennis star Venus Williams, a golf collection named after Bubba Watson and several others. As of this writing discussions continue as to what will happen to the stores; gift cards are being honored, returns are being accepted, etc. There is the very real possibility, if not the likelihood, the company will have to close the stores. We will keep you posted if anything substantive transpires.

Now we know that when you think Summer Olympics you think Gucci. It’s like macaroni and cheese… Gucci and Olympics. Olympics and Gucci. Totally. In fact, The Princess is anticipating several comments will come in that you don’t just think ‘Gucci,’ you think ‘Gucci Olympic Bicycle‘ don’t you? We thought so. To that end we give you the Gucci 2-2-2008 Bicycle.

We shall now remove the tongue firmly planted in our cheek. In case you somehow missed the announcement several months back, Gucci has created the “8-8-2008 Limited Edition” collection. Gucci Creative Director Frida Giannini describes the bright red used for the special collection:

“Not only does red evoke happiness and celebration, two emotions that couldn’t be more appropriate to describe the excitement brought by the international sport games, but it also happens to be a very fashionable color for 2008…”

There is also the I-Gucci watch, seen to your left. It is the only item from the collection available to all; we point that out because the other items in the are only being sold in Hong Kong and mainland China.

The watch is offered in a number of variations, and is notable because it is the first digital watch Gucci has ever offered for sale. It is also available in a version with hands for those who prefer an analog world. (Is it our goofy brain or is the name sounding like an Apple product?) Click on the I-Gucci Watch link above if you are interested in more images and/or information about the piece.

There is also an amazing pair of sneakers in a vibrant array of colors, luggage, and a few other goodies.

Yesterday the Gucci Resort 2009 collection was shown and since we shared this Olympic group we thought we would do a little sneak peek at a few pieces from next years’ line. (A reminder these are not yet available for purchase.) Creative Director Frida Giannini is seen in the final photo, lower right.

Now we wouldn’t sleep tonight if we didn’t update you on a few opportunities to save a little $$$, even though we truly don’t believe in open discussions of the “M” topic. In addition to the additional price reductions, Needless Markup Neiman’s is also providing free shipping at any price. (Will wonders never cease?) The code for this amazing event is SHIPJUL.

If you have the time, the amount of shoes Barneys still has on sale is simply remarkable; there are 40 pages of shoes and boots marked down at Barneys! The Princess strongly urges you to check at least a few of these pages out if you are so inclined.

Banana Republic also has some fairly good markdowns and Ralph Lauren has an additional 25% off selected sale merchandise.

Terry de Havilland
Python platform wedge

Was Sarah Jessica Parker’s Dress “Too Cheap” for Steve and Barry’s? + Williams Sonoma Home Sale!

Way back on May 5th of this year we chatted about the NY Time’s article on discount retailer Steve and Barry’s, home to Sarah Jessica Parker’s ‘Bitten’ line of clothing; the headline for the story asked “Is This the World’s Cheapest Dress?” with an SJP floral print dress (seen below) accompanying the story as the rhetorical dress in question.

In his article Times writer Eric Wilson looked at the retailing phenomenon Steve Shore and Barry Prevor created with their company, a chain where the most expensive items are just $8.98. More accurately, Wilson honed in on precisely how Steve and Barry’s merchandise could be sold profitably at that price. From the story:

The question on everyone’s lips: How do they make a decent dress or a jacket, with sleeves, or a pair of functioning shoes for $8.98?

Because that price point includes the dress shown above, from Ms. Parker’s ‘Bitten’ line, as well as merchandise tied to teen star Amanda Bynes, a relatively new line from surfing legend Laird Hamilton dubbed Wonderwall, basketball-themed pieces from Ben Wallace in additon to the Stephon Marbury basketball & sport tennis shoes, a performance collection from Venus Williams called Eleven, a golf collection named Bubba Golf after Bubba Watson and others.

“There’s been a revolution, a full-blown revolution,” Mr. Shore said, sounding, at times, just a bit like Crazy Eddie. “We just haven’t told anyone yet. If the Gap or Abercrombie & Fitch or J. Crew said that everything in the store is going to be $8.98 or less, it would be front-page news. But while no one was noticing, we opened stores across the country that have identical clothes for much lower prices.”

The question, again, is how.

That was, and remains, the question of the day. Mr. Wilson appeared to be pressing for an answer in his story, but never seemed to get one that spoke directly to the issue. It hasn’t been two months since the story was published, and well, here we are. Things are not good at Steve and Barry’s; they are in fact, very bad.

We don’t know if it was ‘the World’s Cheapest Dress‘ or not as the article asked, but we are pretty sure it probably needed to cost more than it did. A dollar more…? Two dollars…? How much exactly would have been enough to avoid what is going on now: a frantic search for funding to keep the company afloat, ongoing planning to close at least 100 of the company’s nearly 300 stores, continuing work on a bankruptcy filing should that be required, and all of the other unfortunate tasks that become necessary when the train leaves the tracks while traveling at a high rate of speed.

It is a shame, because a lot of people are impacted by what happens with the company, as are a lot of hopeful fans who believe in Steve and Barry’s credo that good fashion doesn’t have to cost a lot of money. We’ll keep you posted.

If you aren’t too depressed after reading all of that, here’s one activity to put on your list, be it online or in person: the Williams Sonoma Home Sale.

There are always loads of goodies at this one, and this year doesn’t disappoint. There are always wonderful finds to spruce up your own cottage or winter residence, and if that isn’t in the plan, they have so many items that make ideal gifts, especially Hostess gifts when heading out as a guest for a weekend at the beach. These Raffia Embroidered Pillows just scream “summer fun” with their whimsical fish and crab motifs!

And we’ll absolutely have to notify our recently returned stateside Nautical by Nature preppy to take a look at the Nautical Rope pillows, as they just looko like something she needs… if she doesn’t already have them. In pairs. The Pure and Simple Soaps from Scotland are always a hit and great to have in the house.

Those are just a few of the samplings from W-S Home, always worth a minute or two in our opinion, and not only because we were already at the website looking at Ice Cream recipes, as we were. So? I mean, what is the big deal if we have quite the full table for a festive Fourth gala. And Cook has been given the weekend off. The whole weekend. Off. And yours truly said she would make the ice cream. Personally make the homemade ice cream. This will be good.

You see we have one of the contraptions shown here, and it did seem like a good idea at the time when planning menus for the week to decide that the final course be something all American… ice cream! Of course! Homemade! Oh yes! In fact, I’ll make it myself, surely this is something I’m capable of! Oh Nooooooo.

Oh well. Photos may follow. If not, ask questions at your own risk.

🙂