For many of us, at least for me, Theory is one of those brands where I absolutely love the clothes, but often won't even go in the store because the price point is just too high. However with their latest capsule collection, Theory 2.0, that may change and what is even better is that this new line is the product of intrapreneurship from employees across the company.
When Theory founder and chief executive Andrew Rosen began to prepare for the brand's 20th birthday this year, he wanted to do something drastically different and he didn't just mean incorporating a perfume line into the company. "I want Theory to survive — and be relevant — for the next 20 years and beyond," he told The Business of Fashion. Instead he came up with Theory 2.0. This direct to consumer collection brought in 28 employees from all departments of the company, with 23 being women, to create something innovative and sustainable. They basically launched a micro-startup within the company where all of these employees got to serve as intrapreneurs.
This group will continue to come together every few months to keep creating and launching products. Chief merchant Siddhartha Shukla told Vogue, 2.0 “gives young employees the latitude and space they need to execute their vision for the future of Theory, as well as the future of fashion.” As we learned in our Levo Institute and the Adecco Millennial Economy Report millennials are changing the current work culture by contributing their own ideas. In order to retain millennial employees they need to be challenged in their jobs and look to opportunities for growth in an environment that fosters their potential. Theory is providing this open workplace with this collection which encourages brainstorming.
Their first collection, which debuted in six stores and online on July 18 is a 32-style line targeted at young professionals (price point is $55 to $495.) It will also be available in four stores in Japan, four in China, four in Korea and two in Europe. Think button downs, straigt leg jeans and shirt dresses. “We imagined this woman being on the go,” she explains. “She wants to be able to throw an outfit in her gym bag without thinking about it, so she feels effortless but still looks styled and polished at the office. Eight of us worked on this capsule, and we all came from different departments. But we thought about what items we would have to have in our wardrobe if we were starting from scratch, and what properties those pieces would have.”
Photos Courtesy of Theory 2.0