Spot on. A friend of mine has owned a small plant nursery for the past 50 years. He started out catering to connoisseurs of ultra-rare plants and sold hundreds of different varieties. Over time, his available offerings became fewer and now he only offers a very limited variety of boring plants he produces in large numbers. Many plant collectors accused him of "selling out" and "going commercial." He actually hated his business model because he was a true collector at heart, but he did what he had to do to survive. I think this is the story of many "boutique" small businesses, especially those who sell relatively expensive products.
There are only so many crazy collectors and/or people with enough disposable income to purchase a $1000 jacket. Many young people are turning away from leather. The leather industry has been reeling. The cost of cowhides was so low last year that I heard some processors were considering landfilling them. And many people today don't think of lifetime products. They expect to throw something away and buy new in a few years. These issues will continue to force small businesses to adjust their business models. For instance, as we move further away from the war years, I think some of these niche, repro jacket makers are going to have a difficult time staying afloat.
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