Snag that Chanel suit or those Versace stilettos for 10% less
Filed under: Bargains, Shopping, Wealth
The pigs are officially flying -- high-end designers are cutting prices on their clothes, shoes and handbags. It's not just department stores cutting the costs during their now-weekly sales, it's the manufacturers reducing their wholesale prices before they even ship goods to the stores. And these are big names -- Chanel, Versace, Dolce & Gabbana -- cutting costs by 8 to 10%. That means that classic Chanel tweed suit you've always wanted, originally retailing for $3,000, is now hitting the stores at $2,700. Not a screaming deal, but now that Saks and Neiman-Marcus are slashing prices by 40 to 60%, hey, it could soon be within your price range!
It definitely is a sign of the times when luxury goods go down in price instead of up (Louis Vuitton and Hermes announced they're holding prices steady for now). But don't shed tears for Donatella, Dolce, Gabbana or any other European designer. A 10% markdown won't dent their profits much because the value of the dollar is increasing against the euro, which means they're not losing as much in markdowns.
Also, luxury designers have high profit margins to begin with (the Wall Street Journal estimates Louis Vuitton's profit margin is 45 cents on every dollar). So even if that Chanel suit is marked down to $1,000, the actual production of that wool boucle suit with gold buttons still doesn't reach that amount. So Karl still makes a profit while you get your (somewhat) steal of a deal.
Recent Posts
- Live, from Walt Disney World, it's the Obamabot! (7/03/2009)
- Ukraine outlaws possession of porn, but can't define what it is (7/03/2009)
- Taken for a ride: 5 clever ways theme parks bleed you for extra (7/03/2009)
- Ask the Dolans: Is now the time to start my own business? (7/03/2009)
- Five Fabulous Finds: Stuffed pizza rolls, blizzards and ice cream sundaes...free! (7/03/2009)
Reader Comments (Page 1 of 1)
11-20-2008 @ 2:18PM
Manley said...
THE NEW ECONOMY
With the economy taking bites out of name brand businesses with brick and mortar store fronts at malls across America. CEO's and Investors are realizing that the Economic Landscape is making a dramatic turn.
What was once considered mainstream America, Shopping Malls, has moved to Internet Shopping Malls. Less Overhead and ability to have personal shoppers at your disposal.
With GOOGLE Partnering with Companies Like MarketAmerica.com/manley, shopping has never been easier. You can shop at all the stores you would normally shop at, at the mall. But have the ability to check out with one Universal Shopping Cart. (MA Copyrighted)
Another advantage is being able to earn 2 Points for every dollar spent. This idea taken from the airline industries Frequent Flyer Points. Market America has Frequent Shopping Points.
With all the stores you normally shop from such as K-mart, Wal-mart, Kohls, Target and other name brand stores everyone frequents. You have the ability to Shop from home. As one individual coined the phrase www.SHOPNAKED.us you literally can shop in your pajamas if you so choose.
This paradyme shift is happening at a dramatic rate due to the economic change. People looking for ways to save money, saving on gas and saving on the stress of the Holiday Season Crowd.
You may even get your Spouse to want to go shopping with you. LOL
To Find out more how you could become a Personal Shopper Manager and own a piece of the Movement happening across America, Contact Gossip@ShopNaked.US for more information.
In The Meantime, Take a Shopping Trip and SHOPNAKED.US
Reply