Stiletto Discounts

This phrase jumped out at me. It was used in reference to steep “stiletto” discounts on merchandise at Saks, not necessarily on stiletto sandals. But whatever it was referring to, I knew I would like it. I like stilettos, and I definitely like discounts.

We are all hurting in this economy in one way or another. Those that are lucky enough to still have jobs are holding onto them for dear life, and many are threatened by rumors of pending layoffs. It’s no surprise that retail, and luxury brands in particular, is suffering in this climate. Layoffs, consolidation of underperforming labels, and store closings are just par for the course.

Designers are getting the message loud and clear. Consumers cannot, and will not, afford the excesses of the past. Market shares are declining, and they are slimming down their collections accordingly.

Dolce & Gabbana is one of the more aggressive designers who are cutting costs, with a goal of lowering prices by 10 to 20 percent while still maintaining quality.

To that end, they are using fewer fabrics and simpler constructions of garments and asking their suppliers to do their part by keeping costs low.

The result?

You can now get a silk corset dress for “only” $3589 instead of $5200. A pretty sizeable discount, no doubt, but it’s not going to send me running to Neiman to grab one, that’s for sure.

Many other designers are following suit. Vera Wang’s average price for her popular wedding gowns has dropped from $5500 to $3500 for Spring 2010. Thakoon has created a lower cost line, “Addition,” with dresses that will sell for $600-800 as opposed to $900-1200. Zac Posen is using stock fabrics rather than custom made textiles in order to offer lower prices. Speaking from experience, you can find some amazing stock fabrics in Italy’s fabric mills, so this is in no way a huge step down in quality or design.


Finally, as you have surely noticed, there is a strong ongoing trend towards collaborations between designers and big box retailers.

Matthew Williamson for H&M, Miss Trish of Capri for Target, and Kate Moss for Topshop are some previously successful collaborations.

One of the newest collaborations is between Wal-Mart and Max Azria of BCBG, who is creating a line with Miley Cyrus. The line will have a rock & roll flavor and will all be priced under $20.



And, of course, Jimmy Choo for H&M will surely be a smashing success. [Note to self: Camp out at Dulles Town Center H&M on November 13th for November 14th launch. This is the BIG ONE. I predict women will get violent in there. You heard it here first.]

It’s a great time to be a shopper (if you still have a job)!

*The views expressed in this blog are solely those of Gillian Kirkpatrick and do not necessarily reflect those of Goodwill of Greater Washington or the DCGF.

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