UPDATE (December 22, 2008): Looks like this was only a rumor. Read following post for more details.
Now, here’s a smart marketing move!
Betsey Johnson, my favorite uber-girly and sexy designer label, is scaling back on their February show and spending the money on a new venture. The label’s CEO Chantal Bacon, according to The Cut, says Betsey Johnson will collaborate with a retailer in launching a limited-edition line. The Cut explains that “one can easily deduce a diffusion line for H&M or Target is probably in Betsey’s future.”
This is a smart investment move because it creates more room to grow in this economy without loosing their brand identity. A “limited-edition” line keeps a designer label looking high-end because it is a limited commodity or a one-of-a-kind deal. Luxury should “seem” hard to come by and entice those who may not have the funds to access high-end brands.
Kudos to Betsey Johnson. You go girl!
Tags: Betsey Johnson, Chantal Bacon, Economy, H&M, high-end, limted edition, Luxury, Luxury Brands, Marketing, Target, The Cut
I think it’s a smart move to do a diffusion line, as people are looking to more affordable clothing at this time. I’ve heard a lot of things about ranges at Target, and seen for myself the hype over H&M collaborations so on the PR front it should be invaluable for Betsy Johnson.
However, I think the decision not to show in Bryant Park might be a bad decision, the assumption will be that the company is facing trouble by cutting costs. I think more designers should have the mindset of Karl Lagerfeld, but of course he can pretty much afford whatever he wants!
http://fashiondaydreams.blogspot.com
She really amazing. I remember she showed in her showroom instead of the tents a few years ago because to have the budget to do so she would have had to let some staff go.
Reena Rai,
It is upsetting that designers are pulling out of Bryant Park. I just hope that this doesn’t continue and Fashion Week becomes a thing of the past. (I know those words are blasphemous…)
- Sarah Essary
Patrice,
Wow, even a few years ago there was trouble? Interesting…
- Sarah Essary
I believe this was before the accessory line pumped some money into the company