Stuart Trevor sells AllSaints citing risk aversion
Stuart Trevor says the main reason he sold AllSaints is that he is risk averse. After founding the fashion brand in 1994, Trevor stepped away from the business in 2005. He had never borrowed money before, but the company’s plan to expand relied heavily on large sums of debt and moving production outside the UK and Europe.
He lost trust in the strategy. “The main reason I sold AllSaints is that I’m risk averse. I’m from a very humble background and had never borrowed a penny in my life,” Trevor said. He decided to exit because he disagreed with the approach to radically expand the business. It turned out he was right to leave at that time.
Trevor uses the story of a magic porridge pot to describe the fashion industry. The pot produces too much food and drowns the village. Similarly, fast fashion produces too many clothes. Production is heading toward 200 billion garments annually. Purchases per capita increased by 60 % between 2000 and 2014.
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Most of this waste ends up in places like Ghana and Kenya. Brands ship unwanted items there, thinking they can be reused. Trevor argues this hurts local economies by crushing home‑grown designers. He warns that brands routinely offload stock to discounters such as TK Maxx, which devalues the brand.
Trevor points out that waste is avoidable with proper planning. He learned this at Reiss. He believes keeping production local allows for ordering only what will sell, preventing excess sizes that cannot be moved. The oversupply issue has become endemic in the trade.
It is a challenge to imagine a business model based on volume when the world is literally swimming in discarded textiles. The industry has conditioned consumers to chase the latest trend, effectively making yesterday’s style obsolete before it is worn out. This cycle of obsolescence places immense strain on resources, creating a paradox where the goal of fashion—self‑expression—often results in the destruction of the environment.
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In 2006, Trevor and his wife founded Bolongaro Trevor. The fashion house focused on dressing bands such as The Libertines and Snow Patrol, and celebrities including Liam Gallagher and Helena Bonham Carter.
Lessons from the rear‑view mirror
Trevor offers advice from his experience. Never give up, as barriers are common. Allocate funds carefully and avoid wasting assets. Test ideas on a small scale before investing huge budgets. Be cautious about hiring and ask questions about expertise.
