Price increases notwithstanding, apparel is still an amazing bargain.
“Do one thing a day that scares you,” I recently read on a bumper sticker while stuck in traffic. Although I hoped that the driver wasn’t planning to execute his one scary thing while driving, I must admit that the message resonated loud and clear. For how many of us in the menswear business are playing it much too safe of late, staying within our comfort zones, reluctant (even terrified) to take risks in this precarious economy?
And with the situation in China portending price increases and poor deliveries, I’m sensing an underlying mood of panic among industry execs. Worse, I’m hearing several admit that they plan to play it very safe, that featuring basics over fashion is the way to go for fall ’11.
In some cases, it’s of necessity. As Ron Wurtzburger at Peerless explains, “We used to be able to book 300 to 500 units of a color; now the Chinese are demanding 2,000 units. So, for example, while we love the idea of DBs, 2,000 units times six different swatches is probably not a safe bet…” (What is the safe bet for fall 2011 clothing? I’m not sure that racks and racks of slim solid black suits will be enough to jump-start sales…)
According to Wurtzburger (who of course is featuring strong fashion offerings throughout his collections), prices for fall ’11 will be up 10 to 15 percent, and who knows if customers will accept these hikes?
Paul Wattenberg of Adolfo is also plenty worried about the situation in China. “I think it will be a minimum of 20 percent increases, but I do think that customers will understand. At Caravelle Clothing in the early ’70s, we sold a corduroy sportcoat for $27.50; last year that same jacket was $25 in a better fabric with better fit. So if prices are back up to where they were a few decades ago, that’s an amazing bargain!” Stewart Golden, new EVP at Adolfo, points out that a 1970 Chevrolet purchased for $4,800 now costs $30,000 and a postage stamp that was 6 cents in 1970 is 44 cents today, so who can complain about price increases on clothing?
As we approach the fall ’11 markets, we at MR encourage our retail readers to shop with an open mind, to go for the beautiful, the special, the new and exciting, even if it’s a few bucks more. For as we all know too well, no one needs more clothes, there are too many places to shop, and there’s always someone cheaper. Show them stuff they can’t resist, share your passion and make them fall in love with it. It works!
From all of us at MR, MRket, and MRketplace.com, we wish you a year filled with love, laughter and continued sales increases. See you at the shows!
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