[bbalfour]

"Correct me if I'm wrong, but most of these brands are riding on their brand equity, not the superior quality of their apparel."

I think you are right that some consumers buy because of brand equity. But it certainly isn't 100% of the audience. Bonobos ($40M revenue company) is a perfect example. They broke through the noise and found an audience that wanted to buy based on fit + quality. Not until a couple year into the company did they really start to try to expand their brand equity.

I think there is a sizable audience out there willing to buy based on quality + fit and a lower price (I'm in that audience). But of course at some point to continue growing into a massive company you need to start developing that brand equity.