Originally posted by faust@Apr 21st, 2004 - 11:48 am
Cool. Who else do they have? Most definitely they should have sales, how else would they get rid of the left-over merch?
Oh, faust, that logic only applies to worldly metropolitans like NYC. Here in Toronto, where 99% of the buying public are perfectly content with buying Liz Claiborne
from department stores, most specialty/upscale retailers don't have to rely on sales to survive. Once they're established with a steady clientele, they seldom have to worry about leftover merchandise because of the lack of competition. Those who're discerning/well-off enough to be interested in/afford these products don't have that many choices from which to buy them, and will gladly pay whatever price demanded.
That's exactly the case with Holt Renfrew, our one and only upscale department store. In NYC Saks have to compete with Neiman Marcus and Bloomingdale's, as well as stand-alone boutiques, but here Holt's basically monopolizes the entire upscale fashion retailing industry. They don't need competitive prices to surive. In fact, a pair of standard Patrick Cox Wannabe loafers - at most a $150 US item anywhere else in the world - can cost up to $300 at Holt's, because the rich suckers here simply don't know any better.
Their idea of an annual sales extravaganza (starting on Dec 26th - boxing day for us Canucks) is a 20% reduction on lime green mohair designer sweaters conveniently available in XS or XXL.
I'm not sure if Schonberger just raised his prices (again), or if i-cii is charging a particularly hefty mark-up, but most of the pieces I saw from his S/S 2004 seemed outrageously expensive. I suspect they simply have to command such a premium to exist because of their low-volume as a relatively new store. For men they also carry Comme des Garcons and Junya Watanabe, as well as some cult Japanese labels for women. The sales guy said they used to have Raf Simons for the past few seasons but for some mysterious reason stopped carrying him.
Here's their admittedly low-tech site. Prepare to be underwhelmed.
i-cii boutique
A little useless trivia: i-cii (pronounced E-Chi) means "one" in Japanese and "together" in Mandarin. The boutique also frequently hosts exhibitions and installations by local artists, designers, and architects.