You are making some great points here.
Yet, I can't help but wonder whether this brand repositioning (if there was ever such a thing, that is) was attempted in order to attract a new customer (e.g. banker/banker's wife with en edge as you have brilliantly described) or in order to replace their core customer base that was eluding them, because of *repetition fatigue* maybe? I mean to say, wouldn't the 20's socialite/heiress and the footballer's wife (and their stylists) who has sported this style for a couple of years already, try to show her fashion savvy-ness (...well...) by moving away from a style that has been extensively copied and worn by every teenage girl, and a brand that all her peers have already exhausted?
In the second case, this latest collection will face a serious problem.