Have you ever heard the news about the luxury-good manufacturers in the U.S. fashion market lately and still like hotcakes hitting via online or even on fashion channels today? Good News to all fellow fashionistas or even on local and international celebrities. This is for you!
As reported by a credible online source from The Wall Street Journal, luxury-good makers are cutting their prices on most designer apparels, shoes and handbags exclusively in the US market. It was said that the prices were cut from 8% to 10% on most designer products sold in the US.
I never thought that these designer moguls such as Chanel, Versace, Christian Louboutin and Chloé would slash their prices into the highest level even their suggested prices are increasing at least once a year despite of the poor economy.
It seems that this is good news to everyone! You can now probably count a designer bag with over thousands of dollars and shoes on your wardrobe.
During the recent prosperous years, most luxury companies assumed that money was not a big issue for their loyal fans. The French fashion house, Louis Vuitton, never moved their prices at this moment, they are remain as what they are. Proved that consumers are still patronizing their goods even the prices are still increasing twice for an average increase of 10% and sales have still continued to rise.
The sales for Hermes began slipping and it has hardly dared to raise their prices. The commercial teams will decide by January whether they are increase or lower their prices in US and Japan territory. “We must take the market’s capacity to absorb the price hikes into account” says Mireille Maury, Hermes’s managing director for finance and administration.
Chanel moved early to cut their prices last month. The fashion house decided to cut its prices by 7% to 10% on most of their items that are striking the US stores now. “The dollar’s recent strength has allowed us to pass on greater value to our customers” says John Galantic, the company’s U.S. based president fro Chanel. The company encouraged other renowned designer such as Dolce & Gabbana, Versace and Chloe to lower their prices as well.
This is to be the first time for most major fashion houses in the US cuts their prices at hike maybe the rebound of the dollar plus the global recession is the main reason to this hot issue. Let’s see the possible outcome for this next year…