Wool Suits

What makes expensive designer suits and slacks different?

I bought some DKNY slacks for $20, and they look good. What makes $500 Ralph Lauren Black Label pants so much more special?

Public Comments

you know they're expensive and designer brand and so you may have more confidence- often you can tell that something is designer because it just looks...perfect. They generally use better quality materials too as they get more expensive and therefore last longer. Also if other people know your wearing Ralph Lauren pants they will be mighty impressed...which some people care a lot about. hope that answered your question!!
Well, I can tell you from experience that it would almost be impossible for me to find fabric that cost $250/yard, since I think pants would take about 2 yards of fabric. Cashmere and silk are normally around $50-60 yard. I doubt Ralph Lauren Black Label would be tacky enough to make silk pants. I would guess it is wool, which is still cheaper than most silk and cashmere. So, let's assume that the fabric cost at most $50 total and that is a very very conservative guess. OK, how much does it cost to hand tailor a pair of slacks. My guess, for someone who has years and years of experience, it would probably take at most 3 hours. If they had the pattern, it would take at most 15 minutes to cut the fabric. then it would take maybe 2:45 to sew the pants, put in the zipper, pockets, etc. So, if you paid that person $450 for three hours of work, that would be $150/hr. $150 * 40 hr work week * 52 weeks = $312,000 per year. Do you know many tailors who make $312,000 per year??? No, I don't think so. So, why is there such a big price difference. First, you are paying for all the costs of operating "Ralph Lauren Black Label." You are paying for not only the employees who designed and manufactured the pants, but also for shipping, accountants, finance professionals, the janitor, the day care service, the personal driver for Mr. Lauren, the gas for Mr. Lauren's car, etc. Basically, you are paying for all the fixed and variable costs that go with selling an international brand. Second, every business determines where they want to be in the market. Ralph Lauren has items you can find in Ross and Marshalls, but they have decided that the Black Label must be targeted to those who need brand recognition. Notice how I did not say quality. Why is that??? Because the highest level of quality is tailor made and haute couture. Tailor made items barely have any name recognition, but if you go to the right person they will be THE HIGHEST QUALITY item you'll ever own. They will fit perfectly, made out of the fabric you choose, and hand crafted. You can get tailor quality pants for $500 easily. So, you buy Black Label because "status" is important to you or because you are "convinced," really deceived, by their marketing that it's worth $500, which it really is not. They control this perception through their use of the "marketing mix," which includes price, product, place, and promotion. LV is probably the easiest to discuss these four p's. You will not see authentic LV outside of an LV store. You will never see LV on clearance. So, because they control their marketing mix well, they are able to create a perception that these bags are worth as much as they price it. In reality, there are Top Quality Knock Off LV in Asia, not the ones you just buy off the street, that cost not even 1/4 of the LV price. In summary, you are paying for a lot of other big costs that honestly you probably wouldn't want to pay if you knew more about it. So, don't always associate price with quality. Last case, compare the prices of these items at mod-clothing.com to modcloth.com http://www.modcloth.com/store/ModCloth/Womens/Dresses/Quadrophenia+Dress http://www.mod-clothing.com/belted-shift-dress-with-button-embellishments-p-252.html?cPath=57 It's about a 30% price difference Also, http://www.mod-clothing.com/cropped-short-sleeve-jacket-p-190.html?cPath=60 http://www.modcloth.com/store/ModCloth/Womens/Outerwear/Wuthering+Heights+Jacket It's about a 40% difference Why is mod-clothing.com so much cheaper than modcloth.com??? Because modcloth has like 13 employees, has a warehouse, pays Perezhilton.com $4000 a week for advertising, pays 50 cents per click on facebook.com, etc. They have so much cost that they have no choice but to pass it on to the customer otherwise they would go out of business. Standard mark-up for apparel is usually 2.2 X wholesale price. Modcloth is somewhere around 3 X wholesale price. Anyway, do not assume that price and quality are that highly correlated all the time. That's why shopping at boutiques or small independent stores are a lot of times your best bet. They don't have to pay for all the b.s. cost of marketing perception. I know this because my friends at http://www.theonlineclothingboutique.com were selling TFNC dresses and other brands you can find at Topshop Oxford St. and asos.com for a whole bunch cheaper than those retailers. They got a huge following in the UK because of that and they still do the same thing today. Anyway, I have a Bachelors and Masters in Business and Finance, so you I can pretty much guarantee you that this is exactly what is happening.