Fashion journalist Lauren Sherman joined Today, Explained to break down the collapse of the venture-backed millennial brand ecosystem, from Everlane to Glossier. Host Noel King introduced her as the go-to expert on the space, noting she is the "fashion correspondent at Puck."
During the episode, Lauren Sherman argued that the venture capital model was fundamentally mismatched with physical retail. While tech platforms can scale endlessly on software, apparel brands face hard physical limits. She explained that "the difference is an Uber, a service business eventually will be able to be profitable. Apparel business, it, it takes a lot, and it takes a lot longer."
As direct-to-consumer darlings continue to stumble, the focus turns to whether traditional players like Nike can reclaim their cool by moving away from aggressive digital storefront strategies and returning to wholesale relationships. Lauren Sherman's ongoing coverage at Puck will be the space to watch as legacy brands try to untangle themselves from the DTC trap.