David’s Bridal, which dresses one in four American brides, filed for bankruptcy for the second time in five years. Trends that push women to spend more on themselves suggest the chain would have better luck with bachelorettes, says AnitaRamaswamy.
Women walk past a pair of wedding dresses after arriving at a wedding show in New York April 2, 2008. REUTERS/Lucas Jackson
NEW YORK, April 18 - With marriage rates on the decline, David’s Bridal has once again tied itself in a knot. The largest wedding-dress vendor in the U.S.for Chapter 11 bankruptcy for the second time in five years. Next time around, David’s might want to indulge the bride-to-be instead. Last time this happened in 2018, David’s courted a group of lenders led by Oaktree to save it. It then made a push to embrace all types of marriages, adopting the slogan “Rewrite the Rules” in an ad campaign featuring a same-sex couple. That was the same year that funding to venture-capital-backed startups in the wedding category peaked, with WeddingWire and Zola raising large rounds,Funding for nuptial-related companies has been on the decline since, as has business at David’s.
Modern brides are opting for cheaper casual and secondhand dresses over fancy getups, but they appear more reticent to compromise on pre-wedding soirees.from last June indicates that over half of millennials have gone into debt to attend bachelor and bachelorette parties. Bach, an app that helps brides-to-be plan soirees, raised a $9 million Series A round from investors last month.
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