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American Apparel is tanking, big time, while the new board and management deal old problems, as well as, the new problem that they are not a fashion company, but a t-shirt company. There is little hope of survival for American Apparel in it's current form, but I have a plan to Save the t-shirt brand of American Apparel for the wholesale t-shirt industry.
The stock price of American Apparel, NYSE APP, has dropped to below $0.50 a share it is finally affordable to some degree. It is still overvalued at $0.35 a share since the company loses over $0.50 per share each year. My plan is to dedicate the profit from the shirts that I can sell to buying their stocks and price their shirts based on the ending stock price from the day before.
The goal here is to buy enough stock, over and extended period of time, to take over the company from the street. I'm not a stock-broker, nor am I a financial analyst, but I've watched this company grow and go through a large number of changes over the years as Dov Charney managed it through success and failure. I wouldn't dare to offer advice on their current situation that requires additional borrowing and payments beyond it's ability to pay, while it attempts to compete with real fashion companies like Uniqlo, Urban Outfitters and the Gap in random ways. They will never get back the allure that American Apparel thought it had when tights were new and scrunchies G-strings were expensive. Not-so-much anymore and expansion for the sake of growth only works if you can keep expanding.
American Apparel is as much and institution to the back page of Vice and the LA Weekly as Page Six is to British Newspapers. Not to mention the Pink tri-lithic buildings off the 10 freeway with plastic banners for signs and over-flowing parking lots with broken down RVs outside the fence. It's a huge step up from Dov working under the freeway and something that shouldn't go away.
Legal or not, my plan is listed above and if I sell enough t-shirts we can make an attempt at Saving the Company that should be what it was meant to be, a Made in USA t-shirt company for fashionable t-shirts for screenprinters, the modern day Beefy-T. Buy some t-shirts and Save American Apparel.
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