“The days of $800 to $900 shoes are over"

[william]

Originally Posted by edmorel

On the one hand, he says luxury is dead. On the other hand, he says he is positioning his company to go after the luxury market

Yeah. I read his quote several times figuring I was reading it wrong..

 

[Tarmac]

Ahh, so this is why J Crew is selling $225 MSRP Red Wings for $300.

 

[Get Smart]

Originally Posted by Tarmac

Ahh, so this is why J Crew is selling $225 MSRP Red Wings for $300.

and $210 Baracuta G9s for $275

 

[JFKJean]

Originally Posted by CharlesAlexander

*Throws out John Lobbs and heads to Aldo"

I think he has a point in the men and womens field. Some consumers that usually splurge at luxury stores are either tightening those belts or buying for the bargains at J Crew/Banana b/c you can obviously get the fashionalbe and quality pieces at very affordable prices

 

[djf881]

Originally Posted by lizmasc

I'm not sure this is even going to make a difference, someone who'll pay that on a regular or less than regular basis for shoes doesn't have much of a problem with the recession, so, life goes on

You want to bet? There were a bunch of i-bank and hedge fund types who were spending out their $500k a year compensation and stacking credit on top of it because they thought they were on the way to being billionaires.

Now they are out of work and underwater on the mortgages for their mansions.

A bunch of rich dudes got Madoffed, too.

 

[Cary Grant]

Originally Posted by fashion_newbie

I think he has a valid point. He isn't saying $1,000 shoes will disappear but that market for high end shoes which had grown in the last few years will slow down.
Many consumers of $800 shoes will step down to $200 shoes for a while and that is where he believes J Crew will try to position themselves.
We will see a lot of boutique shoe and clothes makers close shop in the next year as their market dries up.

I don't think that was his point, exactly... I took it that he was talking about higher-end "designer brands" - those items that are really worth about 1/5th what they charge but get more because of the label.

I HAVE to hope he wasn't including hand-made/craftsman quality clothing where price is more, though not entirely, a reflection of the artisan experience and handwork.

 

[A Canuker]

Originally Posted by CharlesAlexander

-*Most* shoes in this price range last for a long time. They can go a year or two without buying new shoes. You may have to buy a new pair of Kenneth Coles every year, but your John Lobbs will last for years and years. This is a concept people like Mickey don't understand or choose to ignore. *Most* shoes in this price range are that way for a reason.


All that is needed to be said.

 

[gsugsu]

Bingo! Now, I think I will go off and buy a pair of GG Grants in vintage oak to prove the theory.

-*Most* shoes in this price range last for a long time. They can go a year or two without buying new shoes. You may have to buy a new pair of Kenneth Coles every year, but your John Lobbs will last for years and years. This is a concept people like Mickey don't understand or choose to ignore. *Most* shoes in this price range are that way for a reason.

 

[ccffm1]

Originally Posted by CharlesAlexander

*Throws out John Lobbs and heads to Aldo"

Originally Posted by whiteslashasian

Hell, if you're ditching Lobbs for Aldos then I'll be throwing my AE's and Church's away in favor of Payless

If you´re going to throw them away, why not throw them my way?

 

[emmanuel]

Originally Posted by Steven Aver

Mickey Drexler:

"The world is not about overpriced designer [goods] anymore," Drexler said, adding, "The days of $800 to $900 shoes are over. We [J. Crew] have adjusted prices and are going after [luxury] businesses that have grown hugely."

http://www.wwd.com/business-news/ret...4?module=today

This is just his way of making people feel that it is ok to be cheap in these difficult economic times.

 

[jsherman02]

I agree with Ed. $200 to most people is about 2-3 times what they spend on shoes. If you were to tell someone (outside of a member here) that you spent $1,400 on a pair of shoes, but yet they spend that on their monthly bar tab.

I always look for value when I purchase anything...I have purchased $4000 Oxxford suits for 90% off (New) shoes for 1/2% off etc. By JCrew saying that $900 shoes are history, I disagree. However, there will be LESS people fighting over the $900 shoes. I remember when I first starting buying nicer shoes about ten years ago, and a pair of Ferragamo's starting below $300. Now they start at double that. For $600, you get less quality even though you are now paying double.

Ask JCrew how many of their $800 messenger bags did they sell last year? Do they really want to get into luxury?

 

[Toorman]

I agree it's all about value. About the only good that has come out of this economy is the ability to purchase $1,200 shoes marked down to $895 marked down to $489.

 

[Will]

Originally Posted by CharlesAlexander

People that have them can go a year or two without buying new shoes.


Disagree. Few of them can go half that long without a new Lobb/EG/G&G fix.

 

[sho'nuff]

obviously, those days are not over..

http://www.styleforum.net/showthread.php?t=96060

 

[bwqian]

Yayy