In recent years, fashion brands have focused on diversity and accessibility which was reflected in the designs of its collections, in the choice of models for its campaigns or in its approach to new technologies. But not so much in prices -especially luxury, haute couture or design-, which remain within reach of a privileged few. A situation where the designer Telfar Clemens and your brand telfar They are looking to get in the way.

The price will increase at the rate of one cent every 20 minutes

On March 27th, the company will launch a clothing collection named ‘Live price’, which includes new unisex designs and a differentiated approach to pricing strategy. Once the garments are presented, these will start selling at wholesale price increasing over time at a rate of approx. a penny every 20 minutes or about $10 to $20 a week, up to retail price, he reports Fast Company. And when an item runs out, the final price will be the one defined as final for the article in future collections.

In this sense, when entering the brand’s website, the user will find a dynamic pricing tool that will ensure that the most popular and fastest selling products are cheaper. The approach assumes, on the one hand, a change from traditional fashion industry practices, where brands try to charge more for items they think will be popular and, on the other hand, a reaffirmation of Clemens’ mission to make its products affordable and within reach of anyone who wants it. “Many brands use price as a barrier to entry”, said Clemens Fast Company. “I never wanted that for my brand.”

Thus, the strategy, thought together with the Creative Director Babak Radboy, seeks a fairer and more logical way of defining the price of the pieces. on-demand real-time data collection the same. That is, as users access the online store, it becomes evident how quickly certain products are sold out. “This will give us information about how much of each product we should order in the future.”, Radboy pointed to the aforementioned medium. “And the bigger the order, the cheaper it is to manufacture.”.

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In this way, the strategy proposed by Telfar is almost opposed to the industry’s traditional sales model where most brands start the season at their highest prices, and as time goes on sell any additional or remaining stock at a discount. A model that, on the one hand, can affect the brand image and, on the other hand, does not contribute to sustainability or to the preservation of the ecosystem.

The initiative is in line with the brand’s philosophy, which has position yourself around accessibility at the same time that it has sought the profitability of the business. According to Fast Company, Clemens asked discount chain Kmart to sponsor her fashion show in 2014, and she designed the uniforms for employees at White Castle fast food restaurants in 2017. And last year, she did. a shopping event at Rainbow, a store known for selling cheap but trendy clothes in low-income neighborhoods.