Rise and fall of Pangaia

Between 2020 and 2021, Pangaia was on everyone's lips. The start-up founded by influencer Miroslava Duma, primarily known for its colorful sweatshirts, was a symbol of a historical moment when the pandemic had a tangible impact on our lives and, consequently, on our way of dressing. At the time, many thought that people's way of dressing would be permanently influenced, but it wasn't the case: leisurewear had a relatively short life span, and as soon as it became possible to go out again, no one hesitated to experiment with new styles, abandoning the monotony - and comfort - of pandemic outfits that saw tracksuits and slippers reigning supreme. As reported by The Business of Fashion, among the casualties of the decline of leisurewear is Pangaia itself, which closed 2022 with a loss of $50.4 million. The company's sales decreased by 42% compared to the previous year, reaching a downgrade of $37.1 million; truly worrying numbers, considering that in 2020 the brand had reached peaks of $76 million.

Sustainability is not everything

It's not difficult to identify the reasons for Pangaia's decline. The company, which had emerged during the pandemic period as one of the leading players in eco-friendly fashion, made the mistake of becoming practically inseparable from a specific historical period. Celebrities and influencers adorned their feeds, between 2020 and 2021, with a myriad of blanket and sofa outfits. The discovery that it was possible to be fashionable even during smartworking or relaxation sessions contributed to Pangaia's success, which in 2020 reached a turnover of $75 million. Over the years, the brand's product offering grew gradually: in addition to the classic monochromatic hoodies, the brand began to offer a wider range, including tailored suits and trench coats distinguished by the recognizable branding, which however failed to carve out space among the new trends. On TikTok, the brand appears relatively infrequently in the fit checks of the younger generations, as fashion enthusiasts prefer to wear vintage pieces, designer items, gorpcore, and blokecore over Pangaia's branded looks. The brand may have made the mistake of overestimating its noble mission of sustainability, failing to evolve in terms of silhouette and fit. Pangaia's hype then got lost in the crowd; first Kanye West, with the famous Perfect Hoodie, and then Jerry Lorenzo, with the items from the Essentials line, created similar products that were much more appealing to a good portion of the brand's fans. Simultaneously, wholesale brands like Rue Porter and Velour Garments, suppliers of blank products for luxury brands, gained notoriety by making their products accessible, available in different silhouettes and weights. Even the Scandinavian group H&M, which includes Weekday and Cos, paid particular attention to fit and garment processing, presenting itself as yet another enemy for Pangaia.

When a fashion brand is no longer fashionable

In short, Pangaia's coolness dissipated immediately. The brand had managed to attract the attention of celebrities like Bar Refaeli, Jaden Smith, and Jennifer Lopez, who had found a faithful companion to face walks along Hollywood avenues, but basking in their own status proved to be a mistake for the brand's positioning: there was no stylistic evolution that could represent a sliding door, which is why, in the vast landscape of blank products, many began to consider Pangaia a Serie B option. In the early years of its success, it represented a lifeline for anyone wishing to start doing without graphic hoodies and opting for more minimalistic looks, but as various wholesale and fast fashion brands began to produce the same products with a variety of cuts - sometimes even at lower prices than Pangaia - interest in sustainability immediately took a back seat. Raglan cuts, cropped fits, and stone-washed finishes reminiscent of vintage aesthetics have become the features that interest the newer generations the most, stylistic codes that Pangaia has never attempted to approach. Although the Pangaia project may seem to have reached a point of no return, it would be wrong to consider it at its end: with the creative mind of Miroslava Duma and born from the Future Tech Labs project, it may find the way to reinvent itself and return to the turnover of a few years ago, but it will have to avoid insisting solely on selling expensive sweatshirts, a market that is already saturated.