What: “Luxury” denim might finally be on its way out. At least judging by a recent survey done by the NPD Group, which found that while longtime denim brands like Levi’s, Lee and Wrangler are still seeing sales increases during the recession, more “premium” jeans from upscale brands like True Religion, 7 for All Mankind, and Citizens of Humanity aren’t faring nearly as well. To make up for the drop in sales, some luxury brands are dropping prices on denim and diversifying with new product lines at lower price points.
What They Say:
“The economy shifted, and all of a sudden those outrageous prices actually look outrageous,” says NPD chief retail analyst Marshal Cohen. “The superpremium jean business has dropped off tremendously because the inspirational shoppers aren’t going up that high, and luxury customers aren’t buying two or three pairs anymore.”
What We Say: Hallelujah! The luxury denim trend has really gotten out of control in recent years, especially considering how easy it can be to find a flattering pair on a budget with just a little bit of effort. If fashion-forward brands like 7 for All Mankind and Citizens of Humanity really are planning to start selling jeans for a more budget-friendly price, then we definitely see this as good news.