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slows2k

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Almost 1k for the jungle jacket?

I want what they are smoking.

Last price If I recall correctly was around 650€, so yeah roughly a 45% price increase.

650€ is already a pretty high price for a jacket, you can get an orSlow Jungle Jacket in cotton ripstop made in Japan on sale for 250€…

It’s Drake’s, it’s expensive, we all know that, but I’m not stupid.

500€? For a rugby polo? Noah rugby polos are made from a pretty nice practice cloth and made in Canada and are half of that.

Pretty disappointed with their recent price rises… only to find that garment in an archive sale with a 70-80% off discount.

I think you’re highlighting two things here. The first is stuff that is distinctly and uniquely drakes, like the games suits, the balmacaans, these jungle jackets even in this particular shape (which grinds my gears to admit is freakin perfect). These bigger ticket items may be worth gritting ones teeth to spring for, as they can be pretty unique.

The stuff that’s more galling to me is the stuff like that sweater vest, or even any of their sweaters generally. Or the suede chukkas, or silk knit ties, or many other smaller items that are well executed but at an excruciatingly higher price point than things very, very similar from elsewhere.

Case in point I’ve been looking for the just right jungle jacket, and while I admire Orslow, I can’t stand ripstop. The drakes version is a different material entirely and much less a direct copy of a military garment. It reads entirely differently. And for comparison, I bought a Fujito and surprisingly good version from buck mason this season, and they’re didn’t quite scratch the itch so I moved them on.

Will I end up with a drakes version? I dunno. That price is pretty intolerable. Then again, I’ve sometimes looked at an item before years before buying it because it was too much, then when I finally gave in I wondered why I hadn’t originally.
 
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slows2k

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That said, they’ve basically priced me out of their products for the most part. So I’ll be buying very very few over the years. Shame, I would absolutely buy more if they weren’t so outrageous.
 
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I think the pricing is quite ridiculous.

I've only bought one Drake's item for retail, which was a vide poche that I liked enough.

Other items like my green herringbone chasseur jacket just wouldn't be affordable. 1k for a Jacket? No. Just no. The 250 I paid? Yeah, we can do that.
 

slows2k

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I think the pricing is quite ridiculous.

I've only bought one Drake's item for retail, which was a vide poche that I liked enough.

Other items like my green herringbone chasseur jacket just wouldn't be affordable. 1k for a Jacket? No. Just no. The 250 I paid? Yeah, we can do that.
Well, yeah. 250 is cheaper than J. Crew. I’m not sure that’s a reasonable price point though to expect things to cost. But they sure as hell shouldn’t be as high as they are, either.
 
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Well, yeah. 250 is cheaper than J. Crew. I’m not sure that’s a reasonable price point though to expect things to cost. But they sure as hell shouldn’t be as high as they are, either.
I don't expect things to cost that little. I value quality and I know that businesses also need a margin. But the LVMH-ification of brands with inflationary prices is nothing I can or want to support. For me as a student the upfront cost of Drake's at retail is too high too. To be honest - I just had luck with this one, as the previous owner bought way too many Drake's jackets that he didn't need.

Drake's - at least for me - is a luxury product at this point. Something I aspire and will buy on sale. But nothing I desperately need. Just my two cents.
 

astrobuoy

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I wonder if this is something Drake's has ever openly acknowledged or spoken to? I happen to love their viewpoint and find it aligns with my own, the love of soft and easy silhouettes and colorwork that I think they really nail (and I love their lookbooks, which thankfully are free :)). But it rankles me that at the same time as they've drastically raised prices, beyond what appear to me to be a reaction to inflation (unless Brexit also plays a part here?), they've also seemingly moved a good deal of their manufacturing from England and Italy to Portugal, where labor costs are lower. I would like to give them the benefit of the doubt, but honestly it's hard not to read this as opportunism.

Interestingly, I've just been listening to Michael Hill's two episodes on the Blamo! podcast. In the 2nd one, which was recorded during COVID, he talks about how invested Drake's is in maintaining the domestic manufacturing relationships Drake's has had when his father and Michael Drake ran the company, and even that he would sooner see the company fail than sever those relationships.
 

CasuallyWorked

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Hi all,

Been a long time fan of Drake's and have multiple pieces - always justified the higher price by the quality and styling of the pieces but just checking the 'New In' section today and seeing that the Olive Herringbone Cotton Jacket has been listed for £695!

Found my order for such a jacket back in 2022 and it was £495 at the time. Lovely jacket but not sure it's £695 worth of lovely jacket and it certainly doesn't warrant the near 40% increase!

Anyone else noticed such price increases on certain pieces or is this an outlier? I've seen a few pieces creep up a little such as the Shetland sweaters but a 40% jump... seems a little much?

Same love Drakes, but at the moment I do not think what they offer is worth it at retail cost, despite the high quality and designs. I still buy items, but only on sale.

EDIT: Luckily there are brands out there that make good stuff at a fair price that have a drakes' inspired look

natalino: their trousers are great
juniors: really enjoy their polos(cotton, wool) and canvas pants
spier and mackay: nice sports jackets and dress shirts

me wearing spier and mackay hopsack jacket and shirt, drakes tie and crosby boot, natalino pants
img_1039-jpg.2164885



Me wearing juniors canvas pants and wool polo, with a spier and mackay cashmere/cotton jacket, and drakes crosby boot
img_0986-2-jpg.2144363
 
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Ibiscus

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I think you’re highlighting two things here. The first is stuff that is distinctly and uniquely drakes, like the games suits, the balmacaans, these jungle jackets even in this particular shape (which grinds my gears to admit is freakin perfect). These bigger ticket items may be worth gritting ones teeth to spring for, as they can be pretty unique.

The stuff that’s more galling to me is the stuff like that sweater vest, or even any of their sweaters generally. Or the suede chukkas, or silk knit ties, or many other smaller items that are well executed but at an excruciatingly higher price point than things very, very similar from elsewhere.

Case in point I’ve been looking for the just right jungle jacket, and while I admire Orslow, I can’t stand ripstop. The drakes version is a different material entirely and much less a direct copy of a military garment. It reads entirely differently. And for comparison, I bought a Fujito and surprisingly good version from buck mason this season, and they’re didn’t quite scratch the itch so I moved them on.

Will I end up with a drakes version? I dunno. That price is pretty intolerable. Then again, I’ve sometimes looked at an item before years before buying it because it was too much, then when I finally gave in I wondered why I hadn’t originally.
Fully agree. Sure Drake’s prices are clearly exaggerated and it would be a shame if this great brand continues to develop towards a « brunellocuccinelisation »… that being said, for some items, Drake’s just nails it. My rule is to only buy these items at retail prices (to make things easier, they are never on sale at least on common sizes). So far, I paid the full prices for a chore, a raglan coat, 2 jeans, 2 brushed cotton shirts and a wool/silk scarf. That’s all for me. For the rest, I just wait for sale/second hand (mainly 15.75 OCBD).
 
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I wonder if this is something Drake's has ever openly acknowledged or spoken to? I happen to love their viewpoint and find it aligns with my own, the love of soft and easy silhouettes and colorwork that I think they really nail (and I love their lookbooks, which thankfully are free :)). But it rankles me that at the same time as they've drastically raised prices, beyond what appear to me to be a reaction to inflation (unless Brexit also plays a part here?), they've also seemingly moved a good deal of their manufacturing from England and Italy to Portugal, where labor costs are lower. I would like to give them the benefit of the doubt, but honestly it's hard not to read this as opportunism.

Interestingly, I've just been listening to Michael Hill's two episodes on the Blamo! podcast. In the 2nd one, which was recorded during COVID, he talks about how invested Drake's is in maintaining the domestic manufacturing relationships Drake's has had when his father and Michael Drake ran the company, and even that he would sooner see the company fail than sever those relationships.
It will be interesting to see how it all pans out. As far as I'm aware there are only two items they make in England - ties and shirts. Everything else is outsourced, even the socks made in Wales must be being manufactured by Corgi.

I've also started to notice some discrepancies between the product photos and their descriptions. Such as the newly stocked Blue Chambray Smock, the photos clearly show a label reading, 'Made in England', but the description reads that the item is made in Italy. I think it's these little details that really matter when you're positioning yourself in the luxury segment of the market and you've got to be accurate, let's not even get started again on their confusing sizing charts...

They've definitely got something special with their design approach, look books etc and it would be a great shame for this to be overlooked in the pursuit of profit and growth chasing. In the end it will be the market that decides but I fear they don't always listen to the market.
 
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Absolutely. It can be found in their latest financial statements for the year ended 31 March 23.

Page 2, Business Review: "The group increased its gross profit from £3,742,778 ot £6,718,698 which the directors regard as a key performance indicator. The group's gross profit margin percentage is 48% (2022 - 35%).".

I'm no expert in running a clothing company but it would be interesting to know if this is considered a reasonable margin or if it's relatively high or low compared to companies operating in the same segment of the market.

Page 2 continues, "The customer has had an expectation of higher prices due to the general inflationary environment which has allowed the business to also raise prices in order to offset higher operational costs.".

Page 3 also makes reference to a "continued focus to improving margins and funding from the majority shareholder".

The page 30, note 17 refers to other loans. Of which there is balance due to Dolford Holdings (BVI) Ltd roughly £5.5m, this company has the mutual director Mr. Cho.
In addition to this it is also interesting (might not be that interesting, but I'm an accountant so take that with a pinch of salt) to note that the company is looking to more aggressively manage inventory and not hold so much excess. One wonders if this will mean reduced offerings at archive sales as they may order smaller quantities in.

Furthermore, M Cho's involvement is effectively keeping this business afloat - his loans and the future possibility of him injecting further funding are what is allowing them to prepare their statements as a going concern.
 

NassimBandini

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Absolutely. It can be found in their latest financial statements for the year ended 31 March 23.

Page 2, Business Review: "The group increased its gross profit from £3,742,778 ot £6,718,698 which the directors regard as a key performance indicator. The group's gross profit margin percentage is 48% (2022 - 35%).".

I'm no expert in running a clothing company but it would be interesting to know if this is considered a reasonable margin or if it's relatively high or low compared to companies operating in the same segment of the market.

Page 2 continues, "The customer has had an expectation of higher prices due to the general inflationary environment which has allowed the business to also raise prices in order to offset higher operational costs.".

Page 3 also makes reference to a "continued focus to improving margins and funding from the majority shareholder".

The page 30, note 17 refers to other loans. Of which there is balance due to Dolford Holdings (BVI) Ltd roughly £5.5m, this company has the mutual director Mr. Cho.

48% is actually a low margin in the fashion industry where it is usually between 50 and 70%. I think what Drake's does suck but I also think I'd do the same for my business. What sucks the most is that prices go up but never down, even when markets conditions improve. But everyone does that.

They are in a position from which they can do it and we can whine all we want, we'll still keep buying from them.
 

abantigen

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What's really sad about all of this is that even with the prices they charge they need to borrow money from Mark Cho to stay afloat. Goes to show how niche luxury menswear is when one of the most hyped up brands struggle to stay in business.
 

Bateman233

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The new look book…WOOF. What happened to look books being inspiring/beautiful? Dear creative directors, consumers want to feel like they’re buying a little into a fantasy…especially when paying Drake’s looney prices. I want to feel like maybe I’ll look like beautiful Italian man scooting through sunny Rome…not some tattoo covered hipster bartender slouching around a grey and dreary England park bench….
 

nachobarro

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Any experiences with the Chambray western two pockets shirts? (the ones made from selvedge cotton)


I got one recently in my usual size (Medium) and it's very short and kind of slim fitting.

Shoulders are around 17", chest is fine 22" and sleeve length aswell.

Back length is around 72cm (28"). I have a madras cotton work shirt from last winter collection and it's 31" (which I usually wear tucked since it's pretty long).
 

Kid_Icarus

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The new look book…WOOF. What happened to look books being inspiring/beautiful? Dear creative directors, consumers want to feel like they’re buying a little into a fantasy…especially when paying Drake’s looney prices. I want to feel like maybe I’ll look like beautiful Italian man scooting through sunny Rome…not some tattoo covered hipster bartender slouching around a grey and dreary England park bench….

I disagree. Spring, especially early spring, is in reality a dreary, transitional time: the weather is unpredictable, the ground is sodden and muddy as the first few buds and strands of grass make a welcome reappearance. I think this lookbook captures that feeling with plenty of style. This time of year still requires layering and hardy materials, but adding a little color to one’s outfit signals a hopeful tone for what’s to come as summer takes hold. The setting on the northern French coast feels pitch perfect, and there are plenty of items to admire, like that canvas safari jacket and the cotton vest with the tattersall lining. Gelato by the Trevi Fountain can wait until the summer, though I’m sure the Drake’s team will choose a less expected backdrop for their high summer items.

The earlier lookbook with the long-haired model didn’t do much for me, but I think this one and especially the Hong Kong editorial have been very nice to pore over.
 

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