Since its founding in 2005, New York-based fashion brand Telfar has disrupted the fashion industry with its accessible approach to luxury.
Last night, the label introduced a new live pricing system that locks in item prices according to consumer demand, enacted with the next clothing drop on March 27th and continuing weekly through April 24th. can be
It works like this: Each item in the range (consisting only of clothing, so don’t expect to secure a new pill bag or hyped purse at a discount) is sold at a wholesale price. This initial price is then incrementally increased until it reaches RRP, the retail price. catch? If an item sells out before the suggested retail price is reached, the brand permanently locks the price of the item at the sold-out lower price.
So if a t-shirt has a wholesale price of £20 and sells out before it reaches £30, it will have a shelf life of £30 remaining, even though the regular retail price is £70. This reverse supply and demand model means that the fastest selling and the most in-demand items by proxy are the most accessible. Or, as the brand puts it, “The more you want, the lower the price.” Disruptive strategies rewrite the typical brand business model, where the most in-demand items usually raise prices.
In a press release, the brand explained the motivation behind the new pricing system. Cool people ≠ wealthy people – hence cool clothes ≠ expensive clothes.”
This is a proposition in keeping with the slogan “Not for you, but for everyone”, and it remains at the heart of everything the label does.By Liberian-American designer Telfer Clemens Founded, Telfer first debuted in 2014. Dubbed “Bushwick his Birkin,” the Mini costs just $140 and the Large he $240, and is famous for helping to spread the traditional notion of luxury. .
“A 18-year-old queer Liberian-American returning to 2004 to establish a 100% unisex fashion line in New York City,” she wrote in her official profile on Instagram. “Try to make clothes that don’t exist on the market, just like they don’t exist in the world.”
Since then, Clemens has captured the attention of high society, winning a Fashion Fund in 2017, appearing on Oprah’s coveted favorites list in 2018, and designing Liberia’s 2021 Olympic uniforms.
in an exclusive interview with first companyfounder Clemens once again reinforced his mantra of making products accessible and affordable to anyone who needed them when describing the new live pricing model. Brands make price a barrier to entry, and I didn’t want that for my brand,” he said.
Twitter has greatly applauded the decision, with one user commenting: People love to complain all the time, especially about fashion and the markup on their bags. Another said, “It’s a good way to get more traffic and also a good way for customers to get deals.”
of telfer live Collection on March 27th telfar.netDon’t forget to collude with your friends to get your favorite pieces at the best prices.
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