I.R.: Let me say that there is no brand in the market—that I know of—that can survive without suppliers. Even the unusual brand that you would say, “No, we’re totally independent,” they’re not. So I think we all need to be very long-term focused and aware that if a perfect storm happens to our suppliers, this industry is in deep, deep, deep trouble. Also, don’t forget that independent brands and small brands keep this industry alive with more interest and excitement. So we all need each other. I don’t see any of the others as competitors, but it’s in our hands.
Why? The reason the suppliers are in the situation they are in is that we’ve been, frankly, a bit irresponsible in how we manage demand and supply. We saw the increase [in demand]. We asked suppliers to invest in people, invest in machines, and we passed orders that were over the top, and in some cases, these suppliers don’t even have contracts signed with brands. It is a handshake kind of deal—a very small industry. And all of a sudden, they saw orders canceled, and I’m referring to what suppliers told us.