In this op-ed, The Undone founder Sara Crampton reveals why she shifted her business from a traditional multi-brand retailer to a content-commerce publisher.
The retail industry is undergoing a seismic shift. With the collapse of legacy multi-brands like Matches Fashion and Barneys New York, and the merger of others like Saks and Neiman Marcus, it's clear that the traditional wholesale model is struggling to adapt to the fast-paced evolution of global e-commerce.
In 2025, if there is an item a customer wants, they can get it directly from the brand or from one of the many retail partners online. If a brand wasn’t partaking in e-commerce prior to the pandemic, they certainly are now. The abundance of choice for customers has increased competition for brands from all directions.
Brands are no longer competing against like-for-like brands in their local economy; customers are comparing their purchase decisions across multiple price points and geographical locations. The landscape has changed forever, and the foundation and systems the model was built on need to adapt.
With further pressures and uncertainties due to global tariffs and the shrinking margins from competition-led markdowns that retailers have been facing over the past few years, it looks like it will only get more complex. Retailers have already been walking a very fine line, balancing operational costs and margins, and this might be the final straw that breaks that balance.
At The Undone, we recognised the challenges and the long-term shifts affecting retailers and brand partners, and decided we needed to evolve. In 2025, we officially made the move from a traditional multi-brand retailer to a content-commerce publisher platform.
Continuing to offer our customers an edit of products curated to their particular tastes and needs, we’re leaning into the best parts of multi-brand retail while moving away from what no longer works.
The Importance of Multi-Brand Boutiques
Multi-brand boutiques have long played a critical role in brand discovery and positioning. They provide an essential platform for both emerging and established brands, offering credibility, context, and a sense of belonging within a community of like-minded labels. Being part of a respected multi-brand environment signals to consumers that a brand aligns with a certain aesthetic and lifestyle, fostering trust and desirability.
Retailers have been, and continue to be, key influencers in the eyes of the customer. Many have leveraged this knowledge and incorporated marketing fees into their negotiations with brands, operating as much like a marketing channel as a retailer. With seven points of contact before making a purchase, the multi-brand touchpoint is just one element, and the final conversion comes down to convenience, trust, and price.
By evolving the multi-brand retail experience into a content-driven commerce model, The Undone is preserving the best elements of what these boutiques offer while enhancing the experience for both brands and customers. We are giving brands the opportunity to be discovered and familiarised within a curated, storytelling-led space, where they can grow organically without the risks traditionally associated with wholesale partnerships.
A Win for Brands and Customers
For brands, the advantages of this new model are clear. Instead of adhering to traditional wholesale agreements that often lead to overproduction, unsustainable discounting, and loss of control, we are focused on driving full-priced sales, supporting their direct-to-consumer strategies, and customer acquisition goals.
Acting as the matchmaker, The Undone brings together customers and brands that align, offering them a place to connect in a safe and trustworthy environment. Following a partnerships and affiliate model rather than dropshipping, our content-commerce approach allows the brand to connect directly with the customer, immersing them in their world and customer experiences, setting up a potential long-term relationship.
The UNDONE edit is critical to keeping the trust of the customer and brand partners. Similar to setting up a friend on a blind date, the vetting process is what sets The Undone apart from other marketplaces. Knowing exactly who you are speaking to has always been our strength.
In this new model, we’re able to go niche but broader in our offerings, extending beyond clothes to other verticals like beauty, lifestyle, and homewares—something we wouldn’t have been able to achieve in traditional wholesale. This benefits not just the customer, but also brands, as we believe that style and taste don't sit in silos, and the cross-marketing between different categories leads to greater growth and discovery for all.
The Future of Retail
What is undeniable is that continuing along the same trajectory would spell the end of multi-brand retail. There is an urgency to adapt and change to survive. We view marketplaces and inventory-light models as the path forward, taking the best of retail and approaching it with a genuine, solution-focused approach so that all parties—retailers, brands, and customers—win.