Posts Tagged ‘Luxury’

The State of Luxury

February 19th, 2010

Louis Vuitton Logo

Louis Vuitton Logo

Last week I got caught up watching CNN’s Luxury Life reporting on the status of luxury retailers in the current economy. What really got my attention was the new marketing strategy CNN was reporting that Louis Vuitton is about to embark upon.
The new LV campaign will focus on the details that go in to creating luxury.
My first reaction was, “Do consumers care?” Don’t the people buying Louis Vuitton already know that they are paying for the craftsmanship?

Rodarte for Target

Rodarte for Target

But then the report went on to say that Patek Philippe has been minimally hurt by the recession. The same was true for Hermes. Basically, the true luxury houses haven’t been hurt as much by the recession as the mid-level luxury retailers.
At a time when we’ve recently seen Escada bought out, and we are waiting to see what happens at Prada, it might be time to think about what is luxury and what is high-end fashion. It’s no secret that Prada has been significantly hit by the recent recession. Reports are that Prada is nearly $1 billion in debt and will soon need outside financing.

This is also a time when we are watching fashion darlings like Rodarte and Jean Paul Gaultier design for Target. And then there is Sonia Rykiel and Jimmy Choo designing for H&M. This makes it even more transparent to the consumer that name and design are different from quality and craftsmanship.

So will learning more about what goes into creating luxury help you decide to buy it? Or is the bottom line how something looks?
For me, this makes it all clear – there is luxury and there is fashion. Both have their place. But only rarely do those two ever cross paths. And when they do, the price is steep.

Editor’s note: I am very excited for the Rodarte collection at Target! I have been impressed with the quality of the designer offerings so far at Target.

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Luxury Designers, Budget Stores

October 30th, 2009

There are some names in fashion that just ooze luxury. Christian Louboutin, Bottega Veneta, and Chanel roll off the tongue. Now be honest, what is your initial reaction when you hear that a label you love and aspire to obtain is launching a low-end line?

Does it make you cringe that everyone will have it? Or are you happy that something from your coveted designer is now affordable?

Kohl’s has been carrying Vera Wang’s Simply Vera for two years now so the initial shock of designers going budget is over. But the past few months we’ve heard announcements from Target and H&M about well-known and normally high-end designers creating lines specifically for those stores

Anna Sui for Target

Anna Sui for Target

Target –
Anna Sui’s Gossip Girls inspired line ran in Target from September 13 through October 17. She is also doing a line of totes for Target from recycled material from billboards.

Then rumors recently proved to be true when Target confirmed last week that Jean Paul Gaultier (best known for Madonna’s cone-shaped bras) will be doing a line for the store.

H&M -
I would argue that H&M had the biggest designer score when they landed Jimmy Choo. The shoes are fantastic, he always has a fresh perspective, doesn’t retread what some other designer is doing. It’s even fun just to say “Jimmy Choo.”

Then H&M went and got one of my personal favorites – Sonia Rykiel. Everything I have from her, I consider special. But I also consider her pieces unique and I’m not sure that I want everyone wearing my girl.

But maybe my snob side is showing. Just maybe we will see what these designers can come up with when the budget for material is not unlimited and everything can’t be made to order. Maybe it will be like a Project Runway episode – make me a line of clothes, each item priced below $100, and wearable for the masses.

Judges?

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