This is sort of old news but Banana Republic is stepping up the luxury by launching their newest line called BR Monogram. The new high-end collection will have all the goodness of traditional Banana Republic, but with a boost in the quality of the fabrics used and better tailoring. This quality upgrade will also mean a pricing upgrade (BR Monogram items cost an average of 30-40% more than the rest of Banana's items) plus there will hopefully be stand-alone BR Monogram boutiques around the country very soon -- the first one just opened in New York. (via Luxist)
The road to the top is getting crowded — especially in that zone just above women's specialty chains such as J. Crew and Ann Taylor.
The latest to enter the fray is Banana Republic, which today will open its first freestanding store for the new limited edition BR Monogram collection. The line focuses on better fabrics and tailoring at prices about 30 to 40 percent higher than the brand's core collection.
The 3,000-square-foot BR Monogram store at 205 Bleecker Street and Sixth Avenue here was previously a Banana Republic unit. A spokeswoman said Banana Republic customers will be serviced by stores on Broadway in SoHo and in the Flatiron District.
At a time when the retailer's core shoppers may be feeling the pinch of rising gas prices and a weak economy, BR Monogram is an interesting experiment. It comes at a time when many other chains are trying the same strategy, from J. Crew to Ann Taylor and Coach.
J. Crew's higher-priced, limited edition J. Crew Collection was initially launched to complement the original assortment. But what began as a small line has grown into a business of its own with a separate Collection Web site and the first Collection store slated to open on Madison Avenue in May.
Ann Taylor in September introduced a line also called Collection that is priced 40 percent above its core merchandise. Collection features suits and dresses in fabrics from some of the same mills used by designer brands, such as Loro Piana.
Meanwhile, Coach in 2006 introduced items such as exotic animal skin handbags priced 48 percent higher than its traditional products. Last year, the accessories house formally named the stand-alone collection Legacy. Geared to the logo-craving crowd of "It" bag worshipers, Coach has found a market for $10,000 alligator handbags, launched as part of the Legacy collection. The first two Legacy boutiques opened in the fall on Bleecker Street here and Robertson Boulevard in Los Angeles.
BR Monogram aims to tap into this same customer who is fashion-obsessed but on a budget. Visitors to BR Monogram will find a very different atmosphere than typical Banana Republic stores. "Step out of the everyday and into the extraordinary," begins a statement about the brand's philosophy, writ large in brushed silver letters against a wall painted in Benjamin Moore's Rock Gray. "A limited edition collection defined by exquisite fabrics, distinctive details and modern silhouettes, Monogram is the most eloquent expression of style."
for the remainder of the 3-page article click WWD.com
The road to the top is getting crowded — especially in that zone just above women's specialty chains such as J. Crew and Ann Taylor.
The latest to enter the fray is Banana Republic, which today will open its first freestanding store for the new limited edition BR Monogram collection. The line focuses on better fabrics and tailoring at prices about 30 to 40 percent higher than the brand's core collection.
The 3,000-square-foot BR Monogram store at 205 Bleecker Street and Sixth Avenue here was previously a Banana Republic unit. A spokeswoman said Banana Republic customers will be serviced by stores on Broadway in SoHo and in the Flatiron District.
At a time when the retailer's core shoppers may be feeling the pinch of rising gas prices and a weak economy, BR Monogram is an interesting experiment. It comes at a time when many other chains are trying the same strategy, from J. Crew to Ann Taylor and Coach.
J. Crew's higher-priced, limited edition J. Crew Collection was initially launched to complement the original assortment. But what began as a small line has grown into a business of its own with a separate Collection Web site and the first Collection store slated to open on Madison Avenue in May.
Ann Taylor in September introduced a line also called Collection that is priced 40 percent above its core merchandise. Collection features suits and dresses in fabrics from some of the same mills used by designer brands, such as Loro Piana.
Meanwhile, Coach in 2006 introduced items such as exotic animal skin handbags priced 48 percent higher than its traditional products. Last year, the accessories house formally named the stand-alone collection Legacy. Geared to the logo-craving crowd of "It" bag worshipers, Coach has found a market for $10,000 alligator handbags, launched as part of the Legacy collection. The first two Legacy boutiques opened in the fall on Bleecker Street here and Robertson Boulevard in Los Angeles.
BR Monogram aims to tap into this same customer who is fashion-obsessed but on a budget. Visitors to BR Monogram will find a very different atmosphere than typical Banana Republic stores. "Step out of the everyday and into the extraordinary," begins a statement about the brand's philosophy, writ large in brushed silver letters against a wall painted in Benjamin Moore's Rock Gray. "A limited edition collection defined by exquisite fabrics, distinctive details and modern silhouettes, Monogram is the most eloquent expression of style."
for the remainder of the 3-page article click WWD.com
3 comments:
i dont think the higher priced lines will fly with customers, personally i love them, but financially its just not an option. however, im super excited for when it all goes on sale.
I totally agree. Some people think BR is expensive enough already for the quality.
I love the BR Monogram line, but im with the girls, its going to get to expensive. It is so pretty though!
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