We are in an era of fashion for the masses — of runway-worthy clothing with off-the-rack price tags. And those who fantasize about owning designer labels and sporting the latest trends can stop wishing and start shopping."It's demand and supply. Discount retailers are demanding brand names, and consumers want to have that chic and prestige at all levels and price points," explains Milton Pedraza, CEO of the Luxury Institute, a ratings and research firm. "As a result, companies like Target, Kohl's, J.C. Penney and Macy's are going after designer and other branded products to meet that demand, and the volume can be very enticing to the designers."
Indeed. Premier designers including Karl Lagerfeld, Stella McCartney and Roberto Cavalli have exhibited bargain-priced versions of their costly couture on the racks of über-hip H&M, a Swedish clothing company known for its inexpensive, fashionable clothing.
"A great fashion designer develops a great name among the wealthy for being unique and exclusive, but the reality is that that doesn't bring in the high number of absolute dollars and, very often, the margin that being a mass marketer can bring," adds Pedraza.
Consequently, designer-retail collaborations will likely prevail, he says.
"You can't be all things to all people," says Pedraza. "You have to serve somebody — in this case, the wealthy or the mass consumer."
Consequently, designer-retail collaborations will likely prevail, he says.
"You can't be all things to all people," says Pedraza. "You have to serve somebody — in this case, the wealthy or the mass consumer."
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