It seems New Zealand fashion retailers are dropping quicker than flies in a Raid commercial. First Tauranga boutique Etch and Newmarket store Wink closed down in quick succession, both rumoured to owe thousands of dollars in unpaid invoices to young NZ designers, and just this morning, menswear institution Satori announced that it was shutting its doors after 30 years in the game. And there I was thinking this idyllic slice of island paradise wasn't being hit too badly by the recession!?
In an email sent out this morning headed 'THANKYOU', Satori head Bob Nelson wrote:
Satori is finally closing. We began as manufacturers of fashion accessories 30 years ago and have been retailers of high end European men’s fashion for the last 12 years.
We have tried to sell Satori as a going concern but in this financial climate all prospective buyers met the same blank wall with their bankers as we did with ours.
We believe we have raised the bar in terms of service, choice and style in the local market and have hopefully given satisfaction to many loyal customers during our years in business. It has been an interesting journey and we have certainly enjoyed the experience.
None of the success that we enjoyed for many years would have been possible without our customer’s loyal support. For that we would like to sincerely thank you.
From the management & the staff of Satori.
Regards,
Bob
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7 comments:
Walked past Drop Dead Gorgeous last week and noticed that there was nothing in store and all the signage has been removed.. Has it closed down?
Hi Katherine,
I'm not 100% sure but I believe it has.
Hi Isaac, love your blog. Can we copy this entry and post it to ours as well? we will credit you xx love C&N
Hi C&N, sure go for your life.
Have a great day!
Isaac
There is a Chinese proverb :
'When the right word is spoken, it will be heard a thousand miles away.'
When a wrong word is printed - 'recession' - even ice-caps melt.
Pierre St Emilion
Oh noooooo. Not Satori! Take my eyes! But not Satori
I think Satori may have been struggling for a while. I used to work for a company that did business with them about five years ago and they took a bloody long time to pay their bills even back then.
So I don't know if this is really a good company being taken down by the recession, or if current conditions broke a business that was just hobbling along.
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