Knowing when it is time to take a break is not always easy, but Thakoon did it and it is for a good cause. New York-based label Thakoon is, in fact, taking a break to restructure, with Thakoon’s founder Panichgul working side by side with the label’s investors to strategize the next evolution of Thakoon.
“It was time for my brand to explore a new business model and this opportunity allowed us to do so,” he explained.
In putting the Thakoon brand on hold, in fact, Panichgul Thakoon won’t be alone. Hong-Kong based investment company Bright Fame Fashion, which is led by Vivian Chou, will help Thakoon restructure its fashions and strategies, hopefully helping the brand hit it big again and soon.
“In the last 10 years, Silas Chou has been building a big investment portfolio, including fashion and tech sectors,” a spokesperson for Bright Fame Fashion company said in an official press note. “The Thakoon brand is one of the them. However, we have recognised that the business model is ahead of the current retail environment. Therefore, we are taking a pause and an eventual restructure.”
Vivian Chou, who actually acquired a consistent controlling stake in the house in 2015, has already changed a few things within Thakoon’s marketing systems, with the acclaimed see-now-buy-now formula, of course, included in the package. Although it did not help Thakoon increase its sales as it did with other houses, such as Tommy Hilfiger and Burberry, which have greatly benefited from this formula, Chou still believes in Thakoon as a fashion project.
“I still believe in Thakoon’s tremendous design talent and the brand as well as the strong management team behind this project,” he told WWD.
Back in 2015, when Chou began investing in Thakoon, three were Bright Fame Fashion’s main focal points for the label. First and foremost, there was the see-now-buy-now formula, which didn’t bear the expected fruits. Then Chou proceeded folding Thakoon’s secondary line, Thakoon Addition, into the main ready-to-wear line. Lastly, he put a strong focus on Thakoon’s American aesthetics.
“Thakoon has tremendous potential to engage with, and deliver to a wider audience. His unique American perspective and authentic aesthetic set him apart, while his inclusive mindset, spirit and designer DNA will allow for the brand to scale,” Vivian Chou told Business of Fashion in 2015. “These assets will play into the next phase of our business model as we expand globally.”
By taking a break from the industry’s busy schedules, both Panichgul Thakoon and Bright Fame Fashion will thus have to understand what, how and where things went wrong, especially given the fact that Thakoon is, and will always be, one of the most appreciated labels from the past 10 years (it debuted during New York Fashion Week in September 2004).
Photo courtesy of Livingly