Has the highstreet finally reached it's peak, posioning and killing off other brands? We've seen various brands struggle to survive in the market that exists currently and with Nicole Farhi filing for administration has the monster that is highstreet finally dealt a killing blow?
Nicole Farhi was founded in 1982, the brand have five stand alone stores and also sells clothes in major department stores such as Harvey Nicholes, Selfridges and House of Fraser. If a brand has all of these various points of contact with the consumer how have we reached a point where a brands dying?
Is Nicole Farhi the first of many brands to be hit by the venom that the highstreets beginning to deal out, personally I really hope not. I think our love of cheap clothing really does make it harder and harder for luxury brands, who would spend more if they didn't need to. It's only sense. I mean brands such as Topshop and Urban Outfitters dominate the market and you have Primark who make the most money of anyone, it may be a shift in products meaning that clothes are cheaper and cheaper which have dealt this blow to luxury.
Fingers crossed that somebody will be interest to take up Nicole Farhi's name and help the label out in the time of need, we can only hope. I guess luxury brands trigger warnings will be sounding and they'll really have to think about their sales but also how to draw into extra cash. One obvious way is clearly through perfume, such a lucrative way to make money for luxury brands it may be that we see more of an increase in new releases.
For the sake of luxury brands I really hope whatever they do they manage to pull through such a hard time and break through this chokehold the highstreet seem to be applying. What worries me is more so how will this affect younger designers and smaller brands who possibly don't have such a strong brand presence and client base as the bigger labels.
No comments:
Post a Comment