Owning a Marc Jacobs bag may soon be a reality for many of us. The fashion designer has announced plans to restructure their pricing and business model for their accessories under a new one-brand, multiple price points approach. This means up to 70 per cent of their accessories label – ‘Marc by Marc’ will now sell for under $500. The brand’s footwear will represent an additional 15 per cent share.
According to CEO Sebastian Suhl, the same ratio will be maintained for all future collections. Happy days are here! The label’s spring ’16 collection is already available for pre-order and features fabulous must-haves the brand’s new “Gotham” leather satchel collection, priced between $300 and $600. A “Snapshot” range of camera bags, in bright leather selling for $295 and checkered sequin fabric going for $550. The “J, Marc” (featuring two linear “J” letters that connect in a loop) range of shoulder bags, styled in aged, embroidered python will be sold for $5,500, while a simple black leather with a chain handle will be available for $490.
“Accessories are our biggest category without question – they are a top priority from a business perspective,” added Suhl. Presently, leather goods account for about 60 percent of the LVMH Moët Hennessy Louis Vuitton-owned brand’s sales. The focus on accessories comes ahead of the company’s plans of going for an initial public offering, although no time frame has been set for this.
For those who will miss the Marc Jacobs exclusivity, fret not. The remaining 30 per cent will continue to market at price tags over $5,000, and feature exotic skins and labor-intensive embroidery and more.
Explaining his new designs, Jacobs said “We approached everything – shoes, bags – in the same way. They needed to have an authenticity and integrity of what they should be. Everything is very considered. From the sole of a shoe to the stitching on the sole of a shoe, and it doesn’t matter whether it was a shoe made in China or a shoe embroidered in France and made in Italy. There was the same amount of attention to detail in every single thing.”
Suhl, who has been with Marc Jacobs since July 2014, said that more than half of the label’s business was from outside the United States. The label’s geographical reach is spread between Asia, Europe, and the Middle East.
“If you look, we have a very strong Millennial female base – 80 percent of our customer online is a women between 18 and 36 years old,” said Suhl. He added, “I think for sure what’s been missing [from the market] is that there has never been a brand able to bring a designer susensibility with a democratic price point with attention to function and merchandising. I know it’s unique. We are definitely doing that.”
[ Via : Wwd ]