Fashion News| Dolce and Gabbana to cut prices

The latest buzz in the fashion world is the plans of a price cut for Dolce and Gabbana.

WWD fashion site reports:
“Stefano Gabbana and Domenico Dolce are continuing their push for revolution in the fashion industry — this time taking on prices.

After criticizing what they deemed untimely and unrealistic shipment schedules (think beefy wools in stores in July and wispy silks in November), the designers’ latest quest is to shave prices by between 10 and 20 percent while maintaining creativity and quality.

The initiative will begin with the upcoming spring season, but is a long-term one, said Gabbana. The price reductions will occur across the board for both the main and D&G lines and margins will be squeezed to help achieve them.

“This crisis has two key aspects: it’s international and social. The first thing people say these days when they walk into a store is, ‘Nice, but how much?’” noted Gabbana, wearing a white shirt, frayed khaki Bermuda shorts and Crocs sandals. “In this moment of uncertainty, people spend more willingly on travel or spas rather than on a new dress. We want to work for the final consumer.”

Evidence of the lower prices is seen in the following items: A pair of five-pocket jeans for spring will sell for $450 (for spring 2009 they cost $695); a dress will cost $1,469, down from $2,295; a leather bomber jacket will be priced at $1,499, compared with $2,296, and an iconic stretch silk tulle corset dress will go to $3,589 from last year’s $5,200.”

You can catch more of this great article here.