Business
Norwegian Wool, Professional’s Dreams Has Come True
Norwegian Wool: The act of dressing is a serious one. Much has changed since the twenty-first century began.
The grammar of the male wardrobe has become increasingly complex as a result of a number of choices, especially in current times when the concept of dress is no longer confined strictly to such rigidly organised standards of the past.
In short, menswear is undergoing a complete transformation. The modern customer yearns for change. We’ve progressed, and deservedly so. Modern times necessitate adjusted alterations; it’s as basic as that.
The coat of a business professional’s dreams has come true
Table of Contents
Consumers today want clothes with a dual relationship, resulting from the irreconcilable conflict -between modern lifestyle and the act of dressing.
On the one hand, a rigid and precise office dress code can and will show elegance, care, style, and commitment; on the other hand, a nearly one-dimensional approach bound to the essential demands paired with the rejection of unnecessary components that make the item stand out too much will.
Every instant in time on the timeline of life is an expression of self-identity as well as a crucial cultural storey.
Psychographics is the study of personality that focuses on the IAO variable, or interests, attitudes, and opinions. Other behaviour elements, such as one’s desire to succeed, sexual preferences, and overall morals, might be studied by apparel companies in order to obtain more accurate data on their target audience.
Vendors can use psychographics to have a better understanding of their target market. This research is extremely valuable today because it pertains to the culture of fashion in the modern world. Men are becoming more interested in jackets that serve several uses, thanks to a recent cultural shift.
Multiple purposes is difficult to describe in today’s world because it can signify so many different things to different people. A forward-thinking luxury coat firm, on the other hand, will perform thorough customer behaviour research to ensure that their items are economically desirable to today’s businessman.
Menswear craftsmanship has a long history in Italy, flawlessly incorporated into the country’s style and culture, and it has become one of the country’s most enduring legacies. Furthermore, new tailoring techniques are being applied to create a sculptured coat, a comfort envelope for the male upper body, made of fine cloth and sewed with clearly visible seams.
Its aesthetic richness is created through the essential texture and construction, not by the surface richness. This is a fairly contemporary concept.
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Within its flagship store in New York City, Nordstrom Home opens its first-ever home retail store. NBA superstar Magic Johnson discusses his passion for travel, food, and Italy, among other topics.
Scandinavian garment manufacturers have traditionally outperformed all others in terms of performance fabric cut and fit. As a result, for the development of a modern businessman who exemplifies both modernity and performance. Global influences are promoting a fashion-forward item with superior technical fibres that are both lightweight and durable enough for today’s active lifestyles.
As we enter the second decade of the twenty-first century, men’s outwear has turned away from wrought surfaces and toward fundamental shape and the brilliance of technical fabrications in order to keep up with the businessman’s ever-changing lifestyle.
I recently reviewed Norwegian Wool, a luxury outerwear firm that has turned the disappointing overcoat into a menswear winner. The overcoat of the past has been gradually refined into an exquisitely balanced garment that is fitted smoothly without wrinkles and buttoned without strain, to a silhouette that will make your upper half appear to be the torso of a professional athlete, thanks to the ingenuity of nearly imperceptible construction and design.
This perfectly cut coat, in my expert view, is the most unmistakable expression of the modern coat, which is why it has become the formal emblem of modernism in luxury outerwear.
Traditional Italian garment craftsmanship meets current Scandinavian design technology in Norwegian Wool. These two worlds collide to create the perfect collection of luxury outerwear that is stylish and tailored while also being able to resist even the hardest winter weather conditions.
Founded by a former Wall Street financial wizard, the company creates luxury men’s performance apparel, outselling competitors with revenues that have quadrupled year-over-year for the last three seasons.
This 30-year old built Norwegian Wool – men’s outerwear capable of withstanding the harshest winter weather conditions while remaining sophisticated and tailored.
After weathering the wind gusts of New York’s cannons of power and enduring his bosses disparaging regard for his puff coat, this 30-year old built Norwegian Wool – men’s outerwear capable of withstanding the harshest winter weather conditions while remaining sophisticated and tailored. Neiman Marcus, Bloomingdales, and Saks all carry the brand.
Norwegian Wool has a very high sell-through rate at Saks: At full price, 82 percent: Because of really well-thought-out and well-designed size patterns. Online purchases have a return rate of less than 10%: This can be attributed to the brand’s excellent customer service, both online and through its chat facility.
Until now, all of our growth has been entirely organic. Year over year, sales have doubled in the last three seasons: Every year, Norwegian Wool has sold through 95 percent of its inventory. Norwegian Wool is sold in over 75 doors, and e-commerce has never offered discounts on any item.
RETENTION OF CUSTOMERS/BRAND LOYALTY: 30% of Norwegian Wool buyers return for a second coat in a different style.
I recently had the opportunity to speak with Founder Michael Berkowitz about what inspired him to transition from a commodities trader in New York to the worlds of Italian craftsmanship combined with Scandinavian technology, why Norwegian Wool is known as the commuter-friendly coat, and why he believes it is critical for consumers to be aware of this brand!
Joseph DeAcetis: Would you be willing to talk to Forbes about the history and evolution of your brand?
Michael Berkowitz: I was born and reared in New York, and after graduating from business school, I began working for a huge commodities corporation. Was one of their only new hires; the majority of the guys there were older and had been poached from other organisations.
This added to the regular ‘wall street pressure,’ making me more mindful of the importance of seeming professional, smart, and genuine. At meetings, company lunches, and after-work cocktails, I’ve always tried to dress decently and create a good first impression. MY NICE COATS WERE NOT WARM AND MY WARM COATS WERE NOT NICE, SO WINTER WAS A PROBLEM.
Joseph DeAcetis: What prompted you to leave your job as a commodity trader in New York to bring the worlds of Italian craftsmanship and Scandinavian technology to the market?
Michael Berkowitz: I started by looking in every department store, online retailer, and specialised shop I could find for a coat that was better than the one I already had in my
closet. A large number of puffers appeared to be big and amateurish. Many lovely cashmere coats that looked nice but were useless in the cold or wind, smelled like wet sheep when wet, and lacked fundamental practical features such as good hand pockets or interior pockets.
I also found some really nice suede / shearling coats that were interesting, but they were so delicate in rain or snow that I’d have to check the weather reports every day to make sure there wasn’t any precipitation in the forecast before wearing them, and if I got caught in a storm, I’d have to hide the coat under my blazer – I wouldn’t be wearing the coat, the coat would be wearing me….
So, after failing to find a coat that could look good for work or nicer social events while also being designed for Northeast winters, I started making my own… down on the inside, wool / cashmere on the outside, and a waterproof membrane lined with a waterproof membrane so I could wear it rain or shine.
The Italians were excellent in terms of design and craftsmanship, but they lacked a thorough understanding of our cold-weather performance requirements. And that’s how I got myself in Norway, a country I’d previously visited in search of hydroelectric investment potential. Because it gets cold in Norway, they realised the requirement for warmth and performance in a winter piece.
So we employ the Italians for textiles, silhouette design, and luxury components, while the Norwegians assisted with initial performance design, such as how to construct larger hand pockets and get the collar to tighten higher around the neck while still looking beautiful.
Joseph DeAcetis: How has Norwegian Wool been able to develop their line of winter coats to make them commuter friendly, in your words?
Berkowitz, Michael:
1) The coat must be long enough to sit comfortably in (and all of our carcoats and parkas are perfect for this while still being long enough to fully cover a suit jacket)
2) It must be elastic and able to move with you.
3) It MUST BREATHE so that you don’t overheat while riding in the car or on the train.
Why do you think your jackets can accomplish it all, according to today’s current standards? Joseph DeAcetis:
Michael Berkowitz: The current buyer prefers light, not hefty or cumbersome items. He also wants versatility; one day he might wear a suit and tie, the next a soft jacket, and the following just jeans and a sweater. So he’ll need a single coat that will go with all of his outfits. He also travels frequently, whether for everyday commute or overnight work excursions. It’s critical to have a coat that can be rolled up and is wrinkle-free.
Why is it vital to wear a nice coat to the office, according to Joseph DeAcetis?
Michael Berkowitz: Any serious businessperson realises that how you portray yourself has an impact on your performance and how other people view you…having the appropriate look is critical if you want to be regarded seriously and move up the corporate ladder. It’s such a waste to spend money on high-end tailoring only to destroy the appearance by donning a 7th grader’s coat that makes you look like you’re preparing to embark on an Arctic adventure.
DeAcetis, Joseph: Discuss the current collection with Forbes in detail, as well as why it is crucial for customers to be aware of this brand.
Berkowitz, Michael: We know what we’re good at and we stick to it. In our business, there are no basic ‘commodity products.’ Under the hood, all of our jackets have the same features: genuine down lining, waterproof and windproof membrane, and a luxurious outer shell.
But, beyond that, each style in our portfolio is tailored to meet the individual needs of various clientele. From New York to Chicago to Toronto, our topcoat is designed for metropolitan walkers who require maximum length protection. Our carcoats are designed for commuters who take the train or drive every day.
Our parkas are for folks who want that extreme puffer feel but with a more elegant style and so on…but if you like to look beautiful while staying warm and dry, you’ll find something right for you in our selection!
Joseph DeAcetis: Who would you like to wear your brand if you could only choose one celebrity and why?
George Clooney, according to Michael Berkowitz. George Clooney has a clean and traditional appearance with an edge fashion flair, in my opinion.
DeAcetis, Joseph: Tell Forbes about your Embracing Hoods and how Norwegian Wool has built over half of their luxury line of classic outerwear to include winterized hoods that can be hidden or tucked away in the most imaginative ways?
Berkowitz, Michael: During the fall and winter seasons, there is always something falling from the sky at some point during the day. Rain, freezing rain, sleet, or snow are all possibilities. Whatever it is, it causes your head to become cold and moist. Many of our clients consider a hood to be a must-have feature in a winter coat.
However, we know that hoods can appear a little ‘out of style’ at times, or at the very least, too casual and unprofessional in some situations. So, in order to serve this hood-seeking consumer while also allowing our elegance to come through, we design all of our hooded jackets so that the hood can be tucked away in some fashion.
Our parkas feature a unique construction that allows the ultra-warm down hood to be dissected and removed, then compacted and kept inside the coat itself, rather than being lost in a closet at home.
A real best-seller! Our hooded carcoats and topcoats take the traditional ‘tuckaway hood’ to a new level by lining the nylon hoods with a cotton cashmere knit, making the hood truly comfortable, warm, structured, and not constantly blowing off your head, while still being able to neatly fold up into the collar with a waterproof suede trim to cover the zipper.
What are your day-to-day responsibilities, Joseph DeAcetis?
Michael Berkowitz: I’m in charge of all high-level brand strategy, which includes getting reports from our largest stores and seeing what sells best, as well as reviewing all customer feedback, so that we can constantly improve our current line and develop new products that truly fill voids in the market.
Joseph DeAcetis: Where and why was the product made?
Everything is created in Europe, according to Michael Berkowitz. All of our high-end items are created in our Italian factory outside of Florence. Our materials, zippers, and trim are all Italian as well. We value excellent craftsmanship and recognise that the smallest details are crucial.
We also want clients to be able to wear these coats in real life without having to protect them because they are so delicate, which necessitates us sourcing luxury materials that are both sturdy and long lasting.
DeAcetis, Joseph:
You have the opportunity to speak: Explain to my Forbes audience why they should test this brand right now.
Berkowitz, Michael: If you’ve ever suffered with my first difficulty, which was that my good coats weren’t warm and my warm coats weren’t nice, you’ll understand and enjoy what we’ve developed!
DeAcetis, Joseph:
What are your growth plans and expectations for the next few years?
Michael Berkowitz: We’ve already started selling in stores from coast to coast in the United States, as well as across Canada. Now we’re returning to our roots and focusing on expanding our European distribution.
We’ll also be launching a women’s line in the fall. Our indoor/outdoor blazer has been a big hit, and we’re planning a new collection for next year.
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