Earlier this week, Bloomberg reported a little bit of good news for handbag lovers and Prada aficionados alike: the brand plans to ramp up its selection of bags under €1,200, which translates to around $1,400USD.
Product diversification is certainly a strong step toward attracting new business and recapturing the attention of previous clients who may have strayed to other brands over the past few seasons. Prada’s substantially sized leather bags currently start in the $1,500 range, based on available product at Bergdorf Goodman, so it appears that the $1,100 to $1,400 range is indeed an area of opportunity.
For any brand, having a strong entry-level leather product is important; it’s among the best ways to attract younger customers, who have the potential to turn into loyal clients over the arcs of their advancing careers. That would seem especially true for a brand like Prada, whose bags have long been associated with women who want something that looks luxurious and powerful to carry to work.
Prada’s Fall 2015 show included many leather bags that went beyond the brand’s standard saffiano options, and in combination with that, this news serves as another indicator that the powers that be at Prada are listening to consumer response and making adjustments. There’s no public release date for the under-$1,400 bags quite yet, but I, for one, am looking forward to seeing what Prada does next.
[Image via Vogue.co.uk]
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