Interior, a fashion brand launched in 2021 by Jack Miner and Lily Miesmer, quickly gained attention for its sophisticated yet quirky style. However, Miner announced that the brand would be ceasing all operations, leaving many wondering what had led to this decision. Miner had been working to strengthen the brand’s direct-to-consumer business and maintain relationships with stores like Net-a-Porter, Bergdorf Goodman, Neiman Marcus, and Saks. Despite positive signs such as increased revenue and new accounts, the brand ultimately could not withstand the volatility of the industry.
Interior had achieved $2 million in revenue in 2023 and set a goal of breaking even at $3 million by 2025. Miner had funded the majority of the business personally, with only a small friends and family round of fundraising as debt on the books. However, despite a strong fall market and booking $700,000 in revenue for the season, the brand faced challenges ahead. Business-as-usual meetings with wholesale partners revealed that many had planned to either stay flat or decrease their orders for the upcoming season, citing macroeconomic factors and supply chain difficulties. This downturn in sales spelled the end for Interior, as time and money began to run out.
The fashion industry’s volatility struck Interior hard, despite Miner’s efforts to secure the brand’s future. Even with positive indicators like growing distribution and new accounts, external factors ultimately caused a significant downturn in sales. Retail partners’ hesitance to place orders, combined with challenges fulfilling existing orders, left Miner with few options. The brand’s hopes for future opportunities like the Fashion Trust US and the CFDA/Vogue Fashion Fund were dashed as market tremors hit Interior, leaving the brand no choice but to cease operations.
Miner’s hopefulness after a strong fall market quickly turned to disappointment as he realized that Interior could no longer continue. The brand’s planned pre-spring collection, set to be presented at June market, would never come to fruition. Despite reaching revenue milestones and setting achievable goals, the sudden changes in the market were too much for Interior to handle. Miner’s personal investment in the brand, combined with its inability to secure additional funding, meant that the end was inevitable once the challenges became insurmountable.
Interior’s closure marks a disappointment for Miner and Miesmer, who had worked hard to establish the brand in the competitive New York fashion scene. While they had found success with their unique style and garnered attention from key industry players, the brand’s inability to weather the industry’s volatility ultimately led to its demise. Miner’s dedication to reaching the breakeven point and continuing to expand the brand’s presence was not enough to overcome the challenges presented by external factors. The closure of Interior serves as a reminder of the fragility of small independent businesses in the ever-changing world of fashion.
