Finally, some good luxury-market news. Super-brand designers Stefano Gabbana and Domenico Dolce have announced that they are attempting to cut the prices of their wares by 10 to 20 percent across the board, making them one of the first luxe fashion houses to approach recession spending with a realistic, attractive game plan. “Our goal is the consumer and to keep the thousands of people that work for us,” said Gabbana, with a feel for the common man that could perhaps do as well in Detroit as in Milan. Already, WWD notes, dresses are priced at $1,469, down from $2,295, and jeans are down to $450 — a reduction of almost $150. By streamlining construction and distribution, and tightening collections for both the flagship line and the D&G bridge label, the duo intends to “peel off the superfluous,” says Dolce. “There are too many clothes, too many seasons, too much advertising — too much of everything that is tacked onto the final price. We want to go back to how things were 20 years ago … This is the only way to save the market and our companies.” Talk about corporate responsibility. We, and our creditors, vote for that.
Dolce & Gabbana to Cut Prices [WWD]