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    Retail Therapy: Elizabeth Grinspan

    When it comes to shopping there are professionals and then there are those who are professionally obsessed. Yes, that would be us bloggers. For the remainder of the Summer we are turning the spotlight on our own and clawing our way into the shopping psychology of our favorite bloggers.

    Elizabeth Grinspan is editor of Racked NY, which is a daily “must read” for every passionate shopper. The blog focuses on New York City shopping and retail news. Elizabeth has also written for Salon, the Village Voice and Time Out New York. Below are her shopping secrets and expert advice. What do you think?

    What’s your most prized deal?
    A vintage DVF dress I bought at Beacon’s Closet for $40. I love the dress, but the best part was finding it. You know how Babe Ruth is famous for being able to point to the exact place where he could hit the ball? I managed to do that with this dress: I walked in, announced to my friend that I was going to find a DVF wrap dress and that I wasn’t going to pay over $40 for it, and made it happen within half an hour. No idea how, but I’m still proud.

    Biggest regret that you didn’t purchase?
    In 2004, I went to Japan to visit a friend who was teaching English in a suburb of Tokyo. We were at a random flea market in his neighborhood one day when I came across a cropped yellow Chanel blazer going for the equivalent of about $70. It fit me perfectly, but I just had no idea whether it was actually Chanel, plus at the time I was totally intimidated by the shape and the color. Now I wish I’d just grabbed it; even if it wasn’t real, it looked good, and I finally feel like I could wear such a thing without looking ridiculous.

    This season you are looking for…
    Really classic black boots. Every fall I buy either cheapo trendy boots or vintage boots, and they always disintegrate by February. This time I’m finally going to do it right.

    What’s your number one shopping tip?
    Pick an upper limit for your spending on any one item. It doesn’t matter what the limit is — it can be $100 or $1000 — but promise yourself that you won’t spend more than that number. Here’s why this rule works: Because you’re going to break it. You might in fact break it quite often. But because the number now rings alarm bells for you, it forces you to put some thought into your more expensive purchases, which forces you to research them, which forces you to make better choices. It’s kind of the shopping equivalent of setting your clock fifteen minute fast; you know you’re lying to yourself, but it totally works, at least for me.

    What’s your biggest weakness?
    Shoes. I know that’s a cliche, but it’s just so easy to justify them, especially if you live in New York and walk everywhere.

    Is there an item for which a shopper should never mind paying full price?
    I spend all day immersed in sale news, so I tend to think there’s always some way around paying full price. Then again, I also wind up talking to a lot of boutique owners, and I sympathize with them — it’s so hard to run a small business in this city. So I’m not sure if I can answer the question by naming one specific item, but I do think that if you love an independent store in your neighborhood, you shouldn’t mind helping to keep them in business.

    3 Comments on Retail Therapy: Elizabeth Grinspan

    Alexander Wang Sale

    We have full details about the Alexander Wang sale, which opens to the public on Thursday. Here’s what you can expect:

    The epic Alexander Wang sample sale is upon us and there are handbags and ready-to-wear galore. The sale is well stocked with a variety of handbags.

    There is back-stock on clothing and they will be replenishing throughout the sale days. The entire inventory consists of 8000 to 9000 units, that’s a lot! The selection is primarily composed of spring ’10 but there’s also Resort ’10 and a good assortment from previous seasons.

    The price for clothing starts at only $60. There are also samples, prototypes and damaged goods being sold for less. The T by Alexander Wang line is also being carried, which includes a selection for men.

    Pieces are color coded with stickers matching up to a price chart. There will be a coat check and you can only have a wallet and phone on the floor. Cash & Visa/Mastercard/Amex will be accepted. There are NO HOLDS, NO RETURNS and there is an OPEN fitting room. (I know how much you love those!).

    I suggest you get there as early as possible. The sale was quite madness last year and this one has been getting way more press! Enjoy up to 80% off on fabulous Alexander Wang pieces.

    Alexander Wang Sample Sale
    Thursday, Aug. 5th to Sunday, Aug. 8th
    Thurs. 2pm-7pm, Fri. & Sat. 10am to 7pm, Sun. 10am to 4pm
    93 Mercer Street btw Spring & Broome
    Credit cards accepted on purchases above $200

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    Sigerson Morrison Sale

    Update: The Madison Avenue Sigerson Morrison boutique has ended the sale. Don’t fret too much. You can still grab some discounted shoe booty in Amagansett. The sale merchandise will be there for the weekend and then it’s off to … the land of last season’s shoes.

    Sigerson Morrison @ Amagansette Boathouse

    208 Main Street (Corner of 27 & Hedges Lane)


    Sigerson Morrison is hosting an amazing sale where the spring 2010 collection is 70% off. What’s even better is that there is a great selection of sizes and styles, which is kind of amazing at this time of year.

    A low-heel thong sandal, ballet flats and gold gladiators are all $128 from $495. Bright red high-heel thong sandals are $209 from $695 and python heels are $407 from $1355.

    The sale is also online if you want to do some pre-shopping browsing. Just be careful with your credit card because all sales are final.

    Sigerson Morrison
    19 East 71st Street
    212-734-2100

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    Chanel Comments

    It appears that I may have insulted and offended some of our readers yesterday in my post about Chanel’s price increase. In hindsight I probably should have substantiated my statements a bit better.

    Here are a few more facts: China’s luxury market is growing by 50% to 60% a year and already represents 12% of world demand for luxury goods. Goldman Sachs predicts that by 2015 China will reach a 29% share of all luxury goods sold worldwide, which will surpass Japan as the world’s top consumer luxury market.

    According to LVMH’s 2010 interim financial report, revenue stayed the same or decreased in every part of the world besides China where revenue grew by 2%.

    Interestingly enough, China is the world’s number one producer of counterfeit products. Chinese women are very proud of buying authentic merchandise and will pay a 40% to 50% premium (over NYC prices) to assure they have the real thing. Of course, there are no conspiracies and I apologise for my sarcasm and hyperbole.

    Furthermore, no country or culture should be reduced to a food– even if it is excellent.

    One more thing: Nordstrom isn’t raising prices until August 5th so hit Paramus asap for 30% savings???
    11 Comments on Chanel Comments

    Confirmed: Chanel Raises Prices 20% to 30%

    It’s August 1st and that Chanel bag you’ve been saving up for may cost you 30% more than yesterday.

    Medium Classic $2600 to $3400
    Jumbo Classic $2995 to $3795
    Jumbo Reissue $3600 to $4200

    Saks, Bergodorfs, Bloomingdales and Chanel have already changed tickets and updated computer price information. It appears as if Nordstrom may be the only store that is holding prices steady for the next few day.

    Handbags are not the only items that are soaring. An average Chanel flat usually ranges from $575 to $650. For Fall, many flats are priced at $895. Even a basic ballerina flat has gone from $585 to $685.

    In such uncertain economic times one can only wonder why the prices of luxury items are skyrocketing. Last week, LVMH Moet Hennessy Louis Vuitton surprised analysts when it reported that second-quarter sales increased 22%. Nobody saw it coming. Hermes also said that revenue may grow as much as 12% this year.

    What’s driving this growth? One word: China. The Chinese middle class is growing exponentially and already represents 25% of the world’s population. The country has gone from being the 20th largest oil consuming country to number two and is on track to becoming number one. Besides oil, the Chinese are consuming LOTS of luxury. The nouveau middle class has an insatiable thirst for European brands, which is diving up revenue and, you guessed it– prices.

    So China, we love dim sum but you’ve got to give us a break on Chanel and Hermes. We just can’t keep up with this. Or, maybe, this is a grand plot to drive up the desire for Chinese-made counterfeits. We don’t know but we’re just throwing out the idea.

    Photo Credit: LIBN

    25 Comments on Confirmed: Chanel Raises Prices 2025 to 3025

    Retail Therapy: Melissa Meyers

    When it comes to shopping there are professionals and then there are those who are professionally obsessed. Yes, that would be us bloggers. For the remainder of the Summer we are turning the spotlight on our own and clawing our way into the shopping psychology of our favorite bloggers.

    First up is Melissa Meyers. She is well known for her website/newsletter, AskMelissa where she highlighted the best of New York: hairstylists, trainers and stylists. Most recently, Melissa launched PageDaily, a shopping and lifestyle online magazine, which combines e-commerce.

    In addition, Melissa often appears on NBC and LXTV, she writes for Hamptons magazine and is often spotted at awesome sales. Below are her shopping secrets. Let us know what you think.

    What’s your most prized deal?
    I just purchased a Halston collection gold and silver sequined mini dress for $300 at the recent sample sale (yes, from Madison Avenue Spy). it originally sold for $3000! [editorial note: we promise, this was unsolicited but totally true.]

    Biggest regret that you didn’t purchase?
    An Hermes Birken bag 10-years-ago, when they were thousands of dollars less.

    This season you are looking for…
    This season looking for accessories galore…I love layering chunky necklaces at varying lengths, cuffs and huge cocktail rings. J. Crew has come out with a killer line. Chanel always has great costume jewelry at prices below what you would expect.

    What’s your number one shopping tip?
    Develop a relationship with a salesperson at your favorite department store or boutique and have them notify you the day before their sale runs so you have first dibs on the merchandise.

    What’s your biggest weakness?
    Christian Louboutin shoes.

    Is there an item for which a shopper should never mind paying full price?
    I always mind! But…I do pay full price for the one handbag a year that I can’t live without.

    2 Comments on Retail Therapy: Melissa Meyers

    D&G 50% Off Online

    We have always found it counter-intutitive that many companies discount merchandise in stores but keep it full price online. One would think that removing the sales person and cost of real estate would make the Internet a discount haven. Most often, this isn’t the case.

    But, as usual, we found an exception. Dolce & Gabbana and D&G closed out the season with a 40% discount. Alas, D&G merchandise has shown up at their online store at 50% off. Shoes, accessories, beachwear and clothing are included in the sale.

    A one-shoulder party dress is $268 from $535, a short sleeve satin shirt is $123 from $245, a print bikini is $108 from $215 and high heeled sandals are $355 from $710.

    What’s even better is that the D&G Online Store will grant refunds on returned merchandise. Boutiques usually only give you store credit and will not accept sale items to be returned. Now, that’s a deal!

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    Coming Soon: Milly

    We may be seeing a lot more cute dresses on Madison Avenue. Our real estate spies tell us that Milly has just inked a deal to take over part of the former Sharper Image space at 900 Madison Avenue, between 72nd and 73rd Street.

    A spokes person for Milly declined to comment but it has been previously reported that the New York-based company has been shopping for boutique space. The brand currently has one store in Tokyo, which opened in 2009.

    Michelle “Milly” Smith and Andrew Oshrin started Milly in 2000. Prior to starting Milly, Michelle lived in Paris and worked for the likes of Hermes, Vuitton and Dior. Her designs tend to span the generations and can be found in the closet of a high school senior closet as well as socialite’s wardrobe room.

    Sharper Image vacated the desirable location in 2007 and filed for bankruptcy in 2008. Despite the attractive 45 feet of Madison Avenue frontage the space remained vacant because it remained expensive despite the downward shift in local real estate.

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