dELiA*s

dELiAs' 2014 bankruptcy collapsed a catalog-turned-retail brand targeting teen girls. The company had pioneered teen catalog marketing in the 1990s, building cult status through quirky fashion. When the company expanded to retail stores, operational challenges mounted. E-commerce competition and fast fashion destroyed whatever remained. dELiAs demonstrated that catalog brand equity doesn't transfer to retail, and nostalgia doesn't create sustainable economics.