You may have noticed that at MM, going on sale isn't something we usually talk about. We have always done markdowns softly and silently.
If you didn't regularly visit our website you may even be led to believe that we simply don't do them. However, we feel it's time to chat about it. We talk about open, honest and transparent communication and sales should be no exception.
So, why do we go on sale?
Well, as a portion of our business is still wholesale, meaning that we sell to independent boutiques and department stores around the world, we must operate in line with their seasonal fashion calendar. This calendar requires us to produce multiple collections a year to sell to these stockists and which we also buy for our MM online store.
There are many problems with this system, however a major one is the seasonal turnover of products. Before each new season arrives, inventory must be cleared in order to make way for 'newness'.
In an ideal world, we would sell all products before the next season arrives so we have no left over stock. However, sadly, industry wide this is never the case. The nature of it is that there are always styles that do really well and others that are simply slower to find homes.
So, until we break free of this broken system (something very much on our horizon), sales are a way for us to find homes for these slower moving styles. Despite reducing their price, in no way do we feel these pieces hold less value. We believe MM clothing has as much value a year, five years, down the road as it had when it first left the factory.
And so, you will find our season 8 collection now on sale. We hope that with their more accessible prices these treasured pieces can find their forever homes, where they will be loved and cherished for a very long time to come.