Why The DTC Model Can Still Work

AYR is a direct-to-consumer survivor.

The brand started in 2014 as an attempt by Bonobos to see whether the e-commerce pioneer’s “perfect pair of pants” approach to wardrobe staples could prove as big a hit with women as it had with men. The experiment failed — needing to stem losses while it looked for a buyer, Bonobos decided to shut down AYR within two years.

Rather than halt operations, co-founders Maggie Winter and Max Bonbrest…