Victoria Beckham slashes the average selling price of her dresses by almost 40% by switching to simpler silhouettes and less ornate fabrics, showing how the fashion industry can adapt to lifestyle disruptions and of the budget caused by the pandemic.
Marie Leblanc, CEO of the brand, said the changes were needed to “make the brand more sustainable”, which has yet to turn a profit despite being one of the most prominent names in UK fashion in the world. over the past decade.
When demand for evening dresses evaporated during the lockdown, sales of knitwear, sunglasses and Beckham’s “athleisure” collaboration with Reebok became a lifeline. The brand is emerging from the pandemic with a new lo-fi aesthetic and lower prices to match.
“Right now, it looks a bit like that time after having a baby, and you can’t remember what you wore before you got pregnant,” Beckham said at the launch of her new collection this week, presented during individual meetings in its London. flagship store.
She added: “When I was pregnant with [daughter] Harper I wore very different clothes, and after he was born it took me a while to figure out what I wanted to wear. Getting out of the pandemic is a bit like that. I have really adopted a more relaxed way of dressing during lockdown, and it changes what I want to wear now. “
Leblanc said: “We are going to come out of this era with a hybrid lifestyle. Maybe you don’t need to dress so much to attend a meeting.
Beckham and Leblanc said they hope the new pricing structure will increase results by expanding their customer base.
British luxury brand Mulberry cut prices in some Asian markets by 20% last year. The announcement was framed in terms of international price alignment, but seen as a lever to boost sales at a difficult time.
Consumer confidence remains fragile, and the rise of resale and rental models for fashion designers offers label-conscious shoppers a more affordable alternative to the hard-hitting price tags of Bond Street.
“Our client is smart, she wants good value for money,” said Leblanc.
Beckham, wearing pinstripe tailored pants and a cashmere turtleneck with white high heels, said she pulled the line from the word comfort, adding, “I don’t like that word. doesn’t seem high to me, but I like an elegant jersey dress that is soft to wear but has a nice silhouette.
Highlights of the collection include spaghetti-strap dresses with 90s glamor on an after-party night, and oversized knits in saturated buttery yellow and candy pink.
“The other day I was packing my bags for a trip to New York and pulled out the pieces I would normally take – midi skirts and ponytail blouses – and they didn’t look like much to me at all. good. I wore denim and couture instead, ”she said.
Victoria and David Beckham divide their time between London and Miami in the United States. Their 18-year-old son, Romeo, moved to Florida full-time to train with Inter Miami Football Club, the team David co-owns, in hopes of joining him. “Selfishly, I would love to have all my kids stay in London, but I’m happy they are ambitious,” Victoria said. “Anyway, I was on a world tour when I was Romeo’s age.”
She said she remains committed to London Fashion Week, where she plans to host a small-scale presentation in September.
“People are going to be very aware of social distancing for a while, and that’s something to respect. I don’t think anyone wants the fuss at this point.