Sunday, 24 January 2010
My MANy Bags News #183
Lower Priced Line For Balmain?
Will this herald the lost of interest in Balmain or fuel it to new heights with better accessibility? Only time will tell. For me, the idea of Balmain dropping the prices might as well mean let's all shop at Zara or Topshop... since those inspired versions will be even more affordable:-) I have to admit (although this may sound stupid, correct me if I am wrong:-P), the reason for Balmain's 'success' to me is first because of the pricing, then the appeal of the clothes. We all take notice of the brand through news of it's 'bigger than life' price tag. It's so expensive, it becomes an aspirational brand which is almost exclusive. You feel special and proud when you wear Balmain. The designs are however straight forward, not as conceptual nor fashion forward like Balenciaga or Prada.
As Miuccia Prada puts it: "we will always buy clothes because they let us live our dreams."
Let's see what the repercussions of this lower priced blue label will have on the brand... when that 'dream' becomes easily attainable by everyone.
Here's the article:
Balmain Quietly Testing Lower-Priced Blue Label Line
Since Christophe Decarnin took over Balmain, it has become known for its sky-high prices as much as its spangled minidresses and pumped-up shoulders; currently, the brand's destroyed t-shirts are selling for $1,624, jackets from $5,333, and runway dresses can be up to $59,856. But Balmain chairman and chief executive officer Alain Hivelin realizes that such prices leave out a plethora of potential customers, particularly in fast-growing markets like China and Southeast Asia — so he's quietly testing lower-priced possibilities. Already, a Mongolian cashmere range is selling in China, and soon, the brand will test out Blue Label — a clothing collection for Fall, priced 40 to 50 percent lower than the runway line — on the market.