Splurge vs. Steal: Quilted Wallets
Marc Jacobs’ quilted wallets are relatively affordable at $28 each. They come from the designer’s “Special Items” section, which are actually the rumored third tier line, and are sold at Marc by Marc Jacobs stores. Although they are pictured here in a pearlized finish, they also come in metallic and patent versions which are very much like what you’ll find at fast fashion chain Forever 21 for only $6.80. I haven’t seen Forever 21’s version in person but as Marc’s wallets are made in China, I’m sure there isn’t that much of a difference, save for the price and label.
As for Marc Jacobs’ third tier line, business partner Robert Duffy says “it is happening right now” as quoted from Fortune Magazine:
An example of Duffy’s don’t-bother-asking-so-they-don’t-get-a-chance- to-say-no approach is the way that he and Jacobs are toying with producing a third, even lower-priced line to compete with the Gaps and H&M’s of the world. Jacobs and Duffy are excited by the idea, but LVMH isn’t interested because it’s a luxury-goods company. When asked about a third line, Stalla-Bourdillon is dismissive: “Maybe it’s better not to think about that subject.”
But Duffy hasn’t been waiting around for LVMH. “It’s happening right now,” he says. “It’s 70% of the units we sell in our stores.” It turns out he’s referring to the $20 million line of specialty items - those $20 T-shirts and the other “junk” he can barely keep in his stores. “It’s the same thing that happened with our home-ware line,” says Duffy, “They said no, so I went to the Czech Republic and had them make crystal and china and just put them in the store.”
Eventually, he says, LVMH will hear about the third line enough times that it will want to explore creating a new set of stores. “Then I’ll say, ‘All right, explore it.’ And then I’ll show them that it’s already here.”
Quilted Bags and Wallets
Quilted Bags and Wallets
December 28th, 2007 at 6:07 am
I like the Marc Jacobs better….where oh where I can I find one?
December 28th, 2007 at 6:55 am
^at Marc by Marc Jacobs stores.