If Prada worked with Supre would you buy it? If Armani was sold at Just Jeans would it hurt its brand? What about Versace moving into H&M? Well, that’s actually happened.
H&M, which is believed to be scouting for store locations in Australia, is one of the world’s biggest retailers, selling in fashion clothes at a low price point. Versace is an over the top fashion label, known for its colourful, tiny and very expensive clothes.
So, does making a Versace line of clothes for H&M cheapen the brand? (I know what many of you are thinking already, but some people do think Versace fashion isn’t cheap…. I don’t own any Versace #justsayin).
Donatella Versace launched the fashion label in New York last night, and the reviews were actually positive. She believes there is demand for consumers at the low price point to actually want to dress like a celebrity dressed in metallic mini skits and flouro coloured suit jackets.
But this move is a sign of the times as the company continues to rebuild following a deep restructuring in 2009 and the current economic environment it is currently dealing with.
Chief Executive Gian Giacomo Ferraris said the H&M line will help lift revenues in 2012. It’s also launched a ‘Young Versace’ line for kids and also brought back its Versus licence this year to entice the younger dollar, or euro.
It is important to remember Versace isn’t the only high end designer to enter H&M. Karl Lagerfeld did in 2004, Roberto Cavalli in 2007 and Jimmy Choo had a go in 2009.
Versace’s collaboration with H&M goes on sale from next week.