It’s always sad to see companies that are doing good things be forced to close down. Such is the case with Nau, the socially and environmental clothing company, that announced this week its impending closure. As the company stated on its website “in the current highly risk-aversive capital market, we simply could not raise the necessary funds to continue to move forward.”
But even though Nau can’t move forward, it still managed to make some positive change in its first year as a business. Not only did it push the boundaries of what it means to be a socially and environmentally responsible company, but it also managed to donate over $223,000 through its customer-directed giving program, Partners for Change.
The only good thing that comes from Nau’s closing is its 50% off of everything sale. Get in there before it’s gone, because as Nau says itself “you’re purchasing a collector’s item.” We at Wend are sad to see them go.
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I love their intentions and I’m sad to see them go. My best friend growing up left Nike to join Nau and I don’t think he would risk his family’s future on a poor idea. Maybe they needed to understand their intended customers more. I’m going to generalize a little here….From my experience in the surf, skate, and snow industries most enviromentally concious customers are not making 6 figures. Therefore they won’t be spending $148 for jeans, $65 for a teeshirt, or $32 for boxers unless they come in 10 packs. So there has to be another attraction to get the not-necessarily-environmentally-friendly-but deep pocketed peeps to cross over. Even at 50% off, it’s too f-ing exensive for most hippys.
I was also curious about Nike and Nau and it was just a gut feeling. Was NAU funded by Nike? Was there any connection other than former employees? Just curious.
Thanks.