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Author Topic: Ask Giles Anything  (Read 10321 times)

Offline Fadez

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Re: Ask Giles Anything
« Reply #30 on: November 20, 2020, 09:03:37 pm »
What is it like passing the torch to your son and seeing the progression of IHUK?

Offline Giles

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Re: Ask Giles Anything
« Reply #31 on: November 20, 2020, 10:02:28 pm »
Good question.

I am a complete and utter control freak, and "I'm always right"...

Alex is the only person who will say, "you are wrong", or you are a complete and utter tosser".  That's hard for me to deal with.

But fundamentally, I know that often he is right.  I have struggled to deal with that, and it has caused some real issues between us.

But, in my heart of hearts, I know I need to devolve responsibility to Alex, and I think I am getting better at letting go.

Alex will take IHUK to new levels, levels that I could not, or can't be arsed to go to. 

But he has his fathers DNA so I'm comfortable with what and where he is taking us.

Haraki dotes on him, so that makes things a lot easier.
"OK face up to it - you're useless but generally pretty honest and straightforward . . . it's a rare combination of qualities that I have come to admire in you" - Geo 2011

Offline jordanscollected

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Re: Ask Giles Anything
« Reply #32 on: November 21, 2020, 12:33:56 am »
The business I work for is a small business (10 people) started by the father in the late 70’s and taken over by the son about 5 years ago. I don’t think a bank vault would have been sound proof enough to keep us from hearing the screaming matches coming out of their offices when the transition was happening. I know at least @Giles if you are eventually less present on the forum, we will still find you on the “catch of the day” section.

G: order 1000 pairs of straight leg double knee hickory stripe pants
A: but they want slim tapered denim
G: ORDER THE HICKORY STRIPE!!!
Minnesota, USA

Offline jordanscollected

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Re: Ask Giles Anything
« Reply #33 on: November 26, 2020, 02:27:54 am »
1. When you buy Iron Heart from a retailer, how does it differ from buying direct from Iron Heart? Say both places have the exact item in the same price and size, does your team benefit more when we buy direct? I’m assuming SE works different than others since they have some of the same products, and some proprietary as well, correct?

2. How does the Stockist relationship work? I noticed that Canoe Club in Boulder, Co no longer listed you as a stockist. Do they sign a contract with you? What can you share about the way the system works with stockists?
Minnesota, USA

Offline Giles

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Re: Ask Giles Anything
« Reply #34 on: November 26, 2020, 08:12:38 am »
Firstly, you need to understand that the margins in this business are not large.  We make tiny margins from our retailer (or wholesale) business, and they make much smaller margins than is normal in retail clothing.  So when we work out costing and pricing, we have to juggle these 3 dynamics 1) Does the wholesale price make it worthwhile for us to sell? 2) Will the retail price be acceptable to the customer? and 3) Will the retailer make enough money at those wholesale and retail prices to make it worth his or her while stocking the product.  Sometimes, it is simply impossible to get a yes to all 3 of those questions, if that happens, we either do not stock the product period, or we do not offer to retailers.

Retailers are a vital part of our business because they spread the love and expand Iron Hearts physical presence.  But as a stand-alone business, it would not be viable, the margins are too small. None of our retailers carries more than 20 or 30% of our SKU's (Lot numbers or unique products), so we see the retailers in some way as fuelling demand for the products we sell online, which is where we make a more acceptable margin. Look at it this way, someone goes into a retailer, buys some IH, falls in love with it, Googles Iron Heart and finds IHUK. The weekend that Mildblend launched Iron Heart, we got 7 direct orders from the Chicago area, the same weekend.  I'm certain that was not a coincidence.

All business outside of Japan comes through IHUK, many retailers have unique products or collaborations, they all come through us.  The majority of retailers like IHUK to sell their collaborations because typically we have a greater reach than them, so they see us selling their product as a way of reaching an audience they could not or would not touch, that is why for instance we carry most of the Pronto collabs.

All retailers are treated the same, we do not have contracts with any of them and they all pay the same price for product nevermind what their volumes are.  I want them to stock and sell Iron Heart because they want to, a signed piece of paper makes no difference.  However if they do things that they should not, like dump stock or have frequent sales which undermine other retailers, they just don't get supplied again.  We're a family and I won't have some black sheep wreck things for everyone.

Finally, I have no contract with Haraki.  It's simply not needed.

« Last Edit: November 26, 2020, 08:14:53 am by Giles »
"OK face up to it - you're useless but generally pretty honest and straightforward . . . it's a rare combination of qualities that I have come to admire in you" - Geo 2011

Offline jordanscollected

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Re: Ask Giles Anything
« Reply #35 on: November 26, 2020, 03:50:54 pm »
Thanks for all the info, it’s a very interesting read. You talked about Mildblend, and before you had I was thinking of a follow up question to ask. I’m assuming they wholly own the products? I ask because on their website, they have some very old Iron Heart skus from past collections, and a coaches jacket that I have never even seen before. Do you ever reach out and discuss moving product to get new items in?
Minnesota, USA

Offline Giles

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Re: Ask Giles Anything
« Reply #36 on: November 26, 2020, 04:43:00 pm »
Not really.  They buy the stuff from us, they own it.  We don't make large enough margins from our retailers to bail them out of their buying mistakes. And frankly, if we did have a "you-fucked-up-we'll-buy-it-back-off-you-policy", then what would stop them taking purchasing risks (with our money), that they would not otherwise take?  Retailers make much higher margins on selling product than the wholesaler (us in this instance), they have to own their own issues.  However, if we see that a retailer has some good stuff that they can't shift, but we know we can, we'll take it back from them, but it has to work for us as well as them for us to do that.  When Iron Heart Vienna had to stop trading, although we had no financial interest in the shop, we bought everything back off them, some of it was golden, some of it we really did not want, but by doing so, it helped them out, and it also stopped Iron Heart product being dumped onto the market, therefore pissing off all our other retailers. And keeping a retailer community that is happy, does not worry about being undercut and knowing exactly where they stand, is one of our key goals. We have had retailers buy from us, who think they can do what the fuck they want and not give a shit about other retailers.  When that happens they get asked politely to play by the rules once, we never ask a second time, we just stop supplying them.
"OK face up to it - you're useless but generally pretty honest and straightforward . . . it's a rare combination of qualities that I have come to admire in you" - Geo 2011

Offline dinobarnesberlin

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Re: Ask Giles Anything
« Reply #37 on: November 29, 2020, 10:11:52 am »
@Giles I woke up to a problem this morning.
Last night I wore my new white 1600 T-shirt tucked into my 666-21s as it was pretty chilly here in Berlin.
This morning I see there is basically a ring around the lower part of the T that were tucked into the pants.
Any chance of that indigo coming out in a wash or am I looking at dying the shirt in another color?
yikes.

Offline Giles

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Re: Ask Giles Anything
« Reply #38 on: November 29, 2020, 10:27:05 am »
It should come out with a wash.
"OK face up to it - you're useless but generally pretty honest and straightforward . . . it's a rare combination of qualities that I have come to admire in you" - Geo 2011

Offline dinobarnesberlin

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Re: Ask Giles Anything
« Reply #39 on: November 29, 2020, 10:30:06 am »
It should come out with a wash.

Thanks for the quick reply Giles.
Last time I tuck the t shirt in. ive soaked the 666s twice now and didn't think they would shed that much blue indigo still.
Live and learn

Offline Tiro

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Re: Ask Giles Anything
« Reply #40 on: November 29, 2020, 10:33:38 am »
It should come out with a wash.

Thanks for the quick reply Giles.
Last time I tuck the t shirt in. ive soaked the 666s twice now and didn't think they would shed that much blue indigo still.
Live and learn

U soaked twice and thought they wouldn’t bleed anymore?


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Online neph93

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Re: Ask Giles Anything
« Reply #41 on: November 29, 2020, 10:35:16 am »
It should come out with a wash.

Thanks for the quick reply Giles.
Last time I tuck the t shirt in. ive soaked the 666s twice now and didn't think they would shed that much blue indigo still.
Live and learn
A treatment with this will ensure it comes up clean:

Get ahead, go figure, go ahead and pull the trigger,
Everything under the gun.

Offline dinobarnesberlin

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Re: Ask Giles Anything
« Reply #42 on: November 29, 2020, 11:04:56 am »
Yea, I don't know what I was thinking. I will probably give them their first wash next weekend.
Thanks for the tip @neph93
I will pick some of that up this week as well.

Love the 1600 so much for its warmth and comfort now that its cooling down.
its perfect under my UHF.
Ive heard of " ring around the collar" but this was my first case of  “ ring around the waist".

Offline Seul

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Re: Ask Giles Anything
« Reply #43 on: November 29, 2020, 12:08:25 pm »
neph93, brought to you by Vanish. The best oxi action you'll ever get.

Offline zeuloa

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Re: Ask Giles Anything
« Reply #44 on: December 17, 2020, 04:10:48 pm »
I have a curiosity...

Just received a 526PJ, and can’t seem to find anywhere the proud “Made in Japan” label...

From what I understand all IH products are manufactured in Japan, is this the case?