Drapers took to the aisles of London’s premium womenswear trade show Scoop to ask whether brands are putting up prices because of the weakness of sterling.
Janan leo cocorose
Janan Leo Creative director and founder, Cocorose London
For autumn 17 we are keeping the prices the same. From the consumers’ side, there’s a lot of pressure already because of inflation and fashion isn’t a necessity, so we’re trying to maintain our prices, but we are keeping an eye on it and trying to get an idea about what is going on. Having a price change in the middle of the season is a cause for concern, so at the moment we are not considering that. For spring 18 we are watching it carefully. We could look to put it up for the spring – we are just going to wait and watch what happens.
Robin Yates Founder, Nobis
The drop in the value of the pound hasn’t been good for us, but we’ve held strong and haven’t raised our prices. We’ve swallowed the difference. The UK is a such a strong and dynamic economy that I’m sure the pound will recover and get stronger again. It might even return to an even stronger position.
Julie Middleton Co-founder, Middleton Green, representing brands including Just Female, Second Female and Beatrice B
We haven’t noticed prices increasing, but [Italian brand] Beatrice B has switched from selling in euros to pounds [in the UK] this season. The euro is going up and down, so if a buyer can buy in sterling they know what it will retail at. I don’t think people are talking about Brexit. We don’t tend to work with that entry-level customer [who are more price-conscious], so it’s not having as much of an impact.
Jordan Eckersley Brand manager at Red Alert, representing Mackage
I have seen 10%-15% price rises in some cases. Some people hedged and bought their currency in advance, but you have to have money behind you to do that – smaller, independent brands can’t. Having said that, in the premium market it doesn’t matter what the price is: if customers want it they want it.
Lucy Walsh Managing director of The Brand Ambassadors, representing Woden and Mos Mosh
Mos Mosh is putting prices up, but not astronomically. It’s a premium brand with commercial price points – it wouldn’t make sense to put its prices up too high. Not all styles are going up: never-out-of-stock styles we are keeping the same. Because it’s not an increase across the board, people know we’re not being greedy.