All In Agreement
New York Magazine’s, The Cut, agrees that department stores secret markdowns may be a way to protect their vendors’ egos:
We couldn’t have said it better ourselves… and we tired.
A Better Mickey
Before our cartoon tears hit the proverbial floor, Racked followed up our story about the Disney store closing with a report about the new store. The new location will take over part of the Virgin Megastore space on Broadway between 45th and 46th Streets.
The new 25,000 square foot retail space will feature technological advancements inspired by Steve Jobs, including a new theater, where visitors can see Disney movies, TV and publishing in a “new way,” according to Crain’s.
The Times Square Disney Store will be operated by Disney Consumer Products, unlike the former Fifth Avenue store, which was operated by Disney Parks and Resorts. This means that the costume that you’re 5-year-old picks out will likely cost under $50 and the merchandise will resemble what would be expected at a suburban mall store.
Department Stores Hide Markdowns
Shoppers are all waiting for department stores to officially take another markdown. Signs in stores and online at Saks and Bergdorfs read, “Save up to 60% off.” As we’ve been browsing online and in stores, however, the numbers haven’t been adding up.
Take Bergdorf Goodman as an example: The sale merchandise from the third floor is all consolidated into one section of the floor with signs above every rack stating that markdowns are up to 60% off. We first found a Gautier dress that was $495 to start but reduced to $149. Math may not be our strongest skill but isn’t that 70% off? Then we found a Peter Som jacket reduced to $389 from $1,295. Again, that’s 70% off.
Before you grab your gloves, scarf, hat and coat– let us warn you that most merchandise is 60% off and what’s left is not part of the season’s highlights. Shoes at Bergdorf are still just 30% off. A sales person says another markdown is still over a week away but even with the modest discount there isn’t a great variety of styles.
Over at Saks we found a similar situation. The sale is advertised as up to 60% off but we found Jil Sander pants for 65% off. At Saks online we found a Brian Reyes dress reduced closer to 65% off along with a Dior dress, an Akirs sweater and Alexander McQueen leggings. All the shoes, in Saks, were discounted 60% but most styles aren’t worth the closet real estate.
Why would stores markdown merchandise more than they are advertising? Perhaps it’s backlash from last year’s sales. Department stores got so much heat from suppliers that they are nervous to discount their merchandise. With the new collections filling store space, there isn’t much of a choice. So be sure to look carefully at the prices. They may be better than advertised.
As a side note, we hear that the Saks men’s 9th floor consolidation sale is getting another markdown on Friday. We wouldn’t be surprised if women’s collections were officially reduced to 70% off too.
Good-Bye Mickey
It’s official, the Disney store has closed their Fifth Avenue location. Construction workers today, were busy removing logos and taking apart inside displays. Tourists outside hovered in amazement and continued to take pictures in front of the former store.
We last heard that top mice were shopping for a new location on Broadway in Times Square. We expect that the new location will drive more traffic and become a much more exciting experience now that Steve Jobs has a seat on the board of Disney and is redesigning the store’s image. Get ready for some serious sci-fi character shopping
to all our company
M-I-C see you real soon
K-E-Y because we like you
M-O-U-S-E
Petit Bateau Sale
We have been anxiously waiting for the Petit Bateau sale. Last year we stocked up on sale pajamas to use as kid’s birthday presents and gifts when most items were 50% off.
This year, we are saddened to report that the sale is not nearly as good. For one thing, this season, there was only one style of girl’s velour pajamas and they are just 20% off or $46. The regular cotton pajamas are 40% off and now range in price from $28 to $29 depending on size and style.
Very few items are 50% off. We were able to dig up a little girl’s pink wool coat that was $250 reduced to $125 and one style of white undershirt that was still almost $20 for two pair. Take a look for yourself, the sale is online too but the selection is more limited than the store.
Better luck next year.
Scoop Winter Sale
Happy New Year!
We are so excited to start 2010. We just got back from a wonderful vacation and are quite shocked from the Arctic air. When it’s this cold outside there’s only one thing to do– stay warm in stores.
Our first item of business was to follow up on a tip we got from Dapper Homme. The special agent reports that Scoop is having an amazing sale. We quickly scurried over to 74th Street Scoop store to see what deals exist uptown. As usual, Dapper was dead on.
Most sale items are an additional 40% off the last markdown. The women’s section was well picked through but we were still able to find a Phillip Lim 3.1 sequined mini skirt reduced from $550 to $160. A $1,020 Missoni skirt was reduced to $540. A Soyun cardigan that was $458, is now $167. A very cute $526 Smythe jacket reduced to $120. The best deal was a $395 See By Chloe sweater-jacket, which was reduced to $95. Not bad, huh.
Again, the women’s merchandise is not very good but there’s a great selection of jeans, pants, sweaters and shirts for men. Either gender, at 85% off it’s worth a look.
A Decade of Shopping
The decade is coming to an abrupt end and before we head out of town to celebrate we wanted to take a moment to look back at the past 10 years. At the start of a 2000, the Dow was above 11,000, my magazine editor never heard of Osama bin Laden and Sony PlayStation 2 was nearly impossible to come by.
Wow. How times have changed. Check this out: In 1999, the word fashionista was published in about 233 print articles around the world. So far, this year, the word has shown up in 5,978 articles. Overused? Perhaps as much as the Chanel bag/ Louboutin shoes uniform.
In 1999, the Fendi Baguette was the snazzy bag and one with signature interlocking Fs, appliqued with snakeskin leaves and flowers was $1,250. Today, you can buy a mulit-colored embroidered Fendi Baguette on Overstock for under $1,000.
In contrast, a basic Hermes Kelly bag, in 1999, cost $4,450. The 32cm Kelly with “Clemence” leather will set you back $7,550 today. Karl Lagerfeld’s signature Chanel bag, ten years ago, was called “2005” and was meant to double as a pillow on long flights. The cost of the pillow/handbag was $900. This year, Lagerfeld’s “Cocoon,” which also happens to look like a pillow, cost $2,395 for the medium size. The hot Gucci ‘Jackie’ bag cost between $500 and $600 (depending on materials), a decade ago. This Spring, the Gucci “New Jackie” costs $2,995 for a leather trim bag to $9,900 for the ostrich-skin version.
So, in the past decade, the Hermes bag has nearly doubled, the Chanel bag almost tripled and the Gucci purse has increased in price by 600%. Suddenly, the Kelly bag doesn’t seem so expensive. Perhaps the old adage about quality is true!?
Happy New Year!
XOXO
Lila
Manolo Blahnik First Markdown
Starting Monday, the Manolo Blahnik boutique will be reducing their winter season shoes by 1/3. Anxious shoppers will be saddened to know that here is no presale this season.
Before you start gathering to form a line we would like to point out that there are two more markdowns to come. In past seasons, shoes were reduced to 50% and then 75% off. We don’t see why this sale season shouldn’t turn out similar discounts. All it takes is patience.
Manolo Blahnik
31 West 54th Street (b/w 5th and 6th)
Monday to Friday 10:30 to 6:00
Saturday 10:30 to 3:300
Contact: Abby 212-582-3007