Everyone who knits, or sews, or makes jewellery, or maybe, I don’t know, bakes macaroons, at some point is told by a well-meaning friend ‘This is so good you could sell it!’.
Obviously this is meant to be a huge compliment. But if you’ve ever spent 6 months knitting a shawl out of overpriced German yarn that costs £30 a ball, only to be told by a friend that they’d pay ‘at LEAST 25 quid for that!’, the market has long ago moved on from the cost of totally hand-made labour.
There are always threads on Ravelry about this, advising people to pay themselves minimum wage, to price their work fairly, not to be undercut by people selling baby socks for £2 a pair. But the problem is that pricing is not actually a straightforward equation, like ‘time + materials + mark-up = cost’. It’s more of a dark art, shrouded in mystery and illusion and resulting in bog-standard looking handbags that cost £25,000 (this is not a typo).
For example, the designer Olympia Le Tan. She makes these beautiful clutches, embroidered to look like vintage book covers. They open up just like a book too, so you can store your Tom Ford lipstick and possibly a single tissue. Sadly there’s not enough room in there for an actual book.
They’re made in limited editions of 16, and they cost about a grand each. The press around them seems to imply that they’re all hand-stitched by Olympic herself, although information on her website is a bit thin on the ground.
Now these things probably do take hours to make (whoever actually makes them). But the reason they’re so popular is that Olympia has hit on the sweet spot between design, craft, high fashion and literary pretension. Hollywood starlets can carry one of these (which after all cost a lot less than a new Burberry bag) and look intellectual, quirky, and cutting-edge all at the same time. Her background in the fashion world and famous illustrator father obviously help a bit with the PR as well. That all adds up to £££££.
I’ve been thinking about this lately because I find the pricing of designer clothing utterly puzzling. At some point a human being has been involved in their construction (as Polka Dot Overload points out in this post), but that’s probably the least important aspect in how much they cost.
If you go to Selfridges and get close to some designer clothes in the flesh, you can see that they use nicer fabrics, and better construction methods, but they aren’t sprinkled with gold-dust or guaranteed to make you look stunning. They’re nicer than high-street clothes, but not 200 times nicer. I guess the idea is that you’re paying more for cutting edge design and fit, rather than quality.
One nice thing about home-sewing is that you can invest where it shows – in materials and equipment that make your clothes look better, rather than having to spend money on marketing, distribution, and staff Christmas nights out.
What do you reckon? Any insights into clothes pricing? With the price of cotton going up drastically, all fashion retailers are going to be affected, and this may be an issue that becomes more interesting to the general public.
(If you’re interested in this there’s an amusing old thread on The FashionSpot debating the most overpriced designers.)