Plus size clothing chain, Avenue is up for sale!
According to Bloomberg, Versa Capital (who purchased Avenue out of bankruptcy 3 years ago) is looking to sell the plus size clothing chain. Although Versa Capital is known for buying retailers in distress, selling the company to someone else is an opportunity for Avenue to capitalize on the success that other retailers are having among plus size shoppers.
I’ve always felt like Avenue was doing something wrong, in fact, I don’t know many women that care for the styles at Avenue. With national retailers like Target expanding their plus size selections, the plus market has stiff competition and honestly, Avenue hasn’t brought “it” in a while.
We already know the plus industry is a multi-billion dollar industry, but what some retailers don’t realize is that in recent years, plus women are not asking but demanding fashionable clothing that fit. Gone are the days of wearing your grandmother’s floral. We are now in the days of proving Oprah’s O Magazine wrong by wearing crop tops and wearing them boldly.
Is there still a place for Avenue? Maybe, but they need to get in touch with their consumer and find out what she wants. This industry is changing and the plus woman is becoming more confident and knows exactly what she wants. It’s not just about price points anymore, but fit and function are key elements. Avenue has to change directions or they’ll continue down this one way road.