It's been said that the luxury consumer is getting younger, but is the luxury market willing to bend its prices accordingly? At least one top designer says he is.
Last week at the Fashion Group International Frontliner talk, which featured a roster of menswear experts, Todd Snyder said that one of the biggest reasons he recently decided to launch a lower priced line of suits is that the guys who tend to be interested in them are getting younger and younger—and have less to spend.
The line, called White Label, will launch at Nordstrom in the fall. Snyder's mainline suits can cost around $2,000, but the new ones (one look is pictured above) will top out at $795.
"Why do we need to pay $400 for a great pair of glasses?" he asked. "Warby Parker is answering that you don't and can get the same quality for $99."
Snyder and the other panelists found that while celebrities don't have much influence on what men wear, the images guys see on street-style blogs and via social media do. And because consumers of these mediums are younger, Snyder suggested that other brands should adjust their offerings to meet these men's needs.
"There's this new interest and excitement for fashion," he said. "Guys are realizing that the better dressed they are, the more they're set up to succeed and want to present themselves well in a way...[that's] sartorially sound."
All this talk leaves us with two questions: Will the lower price point compromise quality across the board, and how many other designers will follow suit? For now, all eyes are watching White Label.
—Details associate online style editor Justin Fenner.
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