I wouldn't consider Psyche's product range particularly high end, and that's one of their problems, in my opinion. It is run of the mill mass market stuff. They stock the cheapest products that "designer" brands are producing - the stuff pumped out in factories in Pakistan and Cambodia and and sold to less discerning customers. £120 t-shirts with a D&G logo on, that sort of thing.
They are not positioned to deliver either a quality/value proposition, or a high end shopping destination.
I don't know who does the buying there. But they have failed to keep pace with what is going on in the world. They stock a narrow selection of brands that have largely had their day, and neglect entirely many of the emergent brands of the moment.
It didn't have to die the death it has. Look up the road to END clothing, they manage to service both the classless chav and the hypebeast. They're doing collaborations with brands the kids love and securing stock of exclusive items that have people camping outside overnight. They appear to be flourishing. There are many independent clothes stores that are, despite it being claimed they do not exist above.
As something that would drive people into store, i would have thought they'd lean into the suiting operation that occupies an entire floor. Yet they offer pretty much two brands at the mid range, Boss and Paul Smith. Brands trading more on name recognition than quality tailoring, to be honest. Interestingly, Mike Ashley started flogging Boss suits in a big way a few years back through one of his other stores, Cruise. Old stock flogged at a discount but carrying a brand name. I am perhaps being unfair to Paul Smith, they have some decent items. But these are not what Psyche chooses to stock, they opt for the cheapest of the Paul Smith line.
The cheapest items produced by a recognisable name. Possibly out of season stock. - All ripe for a discounting come sale time. Far from high end.
If you buy suits regularly, and have a bit about you, you will find greater quality and styling elsewhere. If you wish to buy a truly high end suit, you will not find one here. So who does it service? The unaware making a single purchase as far as i can tell, which fits with testimony from this thread, to be fair.
Along with suits, shoes are the item I would be most inclined to visit a store to purchase. Psyche had a god awful selection. It was possibly the weakest part of the entire store. Overpriced tat with glued soles. Again, anyone that pays attention would be giving these a wide berth.
If you want to buy a Ralph Lauren top, great. If you're more concerned with what a garment is made from than the logo on the sleeve, or how the sole of your shoes is attached to the upper, you're **** out of luck. If fashion is life and you take your streetwear seriously, no dice. For literally anything other than quasi designer exercises in profit margin, you're better serviced elsewhere.
I don't agree that its been clear it was doomed for 18 years, but it has been clear for some time. Every dog has its day. Its fashion, it changes quickly. And I'm afraid Psyche simply failed to keep up.
It's good to hear that no jobs will be lost. Hopefully they do something interesting with the store because it is an interesting building.