How do you find the right price for luxury shoes? Young designers divulge their secrets for determining the ideal price point.
Mary Alice Malone, Creative Director, Malone Souliers
“In dialogue with new doors, we often highlight Alaïa in reference to our positioning and quality, while noting Isabel Marant in terms of pricing. By prioritizing these two selling points, we insist on making a great luxury product kept within reach. Ergo, the sweet spot, generally speaking, is between $550 and $775 for the larger portion of our sales — though the range dramatically changes for our more artistic and esoteric pieces.”
Nicolò Giannico Beretta, Designer, Giannico
“First of all, you have to consider the incredible and expensive work of all the artisans involved, the design and the exclusivity of the shoe, but overall, in the luxury market, you will never find the ‘right’ price point. It’s all about the desirability of the product. You can sell tons of pairs of an expensive style because it’s special and everyone wants it, or you can not sell as much of a style that is cute and at a good price.”
Amina Muaddi, Designer, Oscar Tiye
“Sometimes it’s hard for clients to understand why a luxury shoe is so expensive, because it’s not about the brand but about the detailing and materials or who manufactured it. The ideal is to make a shoe with a detail that makes it special aesthetically, but that is simple enough technically so the price doesn’t become stellar. This is what I tried to do with our Minnie sandal, priced [around $500].”
Sarah Flint, Designer, Sarah Flint
“Price is dependent on the materials used and the amount of time and craftsmanship put into each pair. The higher the level of skill required to create the shoe, the higher the retail price. For example, the Luisa heel from pre-fall [retailing for $1,095] is at the higher end of our range due to its delicate hand-pleating and crystal embellishments. The crystal hardware must be made outside the factory by a very skilled artisan.”
Isa Tapia, Designer, Isa Tapia
“Consumers seem more attracted to a brand’s lifestyle appeal rather than how much something costs, so there’s no magical formula. What I can say is, I know my customer wants luxury in her everyday life, so she will buy my $295 espadrille as quickly as she would purchase a pair of my Winston boots for $650. For my brand, the sweet spot is more about merchandise offering than pricing.”
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