When the going gets tough, the tough cut prices - and we’re not just talking end-of-season sales. Today WWD reports that Dolce e Gabbana plans to cut prices from 10-20percent across both its main line and the D&G label. “This is the only way to save the market and our companies. It’s time to turn the page” Domenico Dolce tells WWD. Now frockwriter can reveal that another major Italian fashion player, Diesel, is planning to restructure its prices in Australia, shaving 27-47percent off the retail prices of its jeans in this market.
According to a Diesel spokesperson the entry level Matic (above) and Viker (below) styles, currently A$290, will be reduced by 31percent to $199, while the brand's most expensive jeans, currently A$940, will dive 47percent down to $500.
Fifty percent of Diesel’s Australian denim sales are in the $350-550 price bracket. From next month, those jeans will sell for $290-450 and from March 2010, $219-399.
The Diesel news follows one high profile Australian premium denim casualty - 18th Amendment. But also, curiously, new data from US analyst the NPD Group, suggesting that premium denim is one of the few pockets of growth in the difficult economic climate.
both pictures: courtesy diesel