Many of the titans of America’s apparel industry are not exactly dressed for success right now. Ascena Retail Group, the corporate parent of Ann Taylor and Loft, saw its stock tumble more than 60% in 2017 amid sagging sales. Gap’s Banana Republic and Chico’s FAS’s White House Black Market also grappled with dismal sales, and the picture at J Crew Group looked so grim that Mickey Drexler stepped down as CEO back in June. As these troubled companies try to map a future for themselves, they should look outside the mall for inspiration. In particular, they should take some cues from the grocery aisle. Here’s what I mean by that: in recent years, the packaged-food and personal-care industries have been rocked by a growing consumer fondness for niche, boutique-like brands. But the giants of the sector have gotten the message. Campbell Soup has been aggressively buying smaller brands, including a $700m acquisition of Pacific Foods that closed last month. Thanks partly, perhaps, to nudges f...
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