A BLACK FRIDAY MESSAGE FROM OUR FOUNDER
As a smart, modern shopper you have probably been bombarded with ads for Black Friday and Cyber Monday.
Black Friday, this Friday 27th November is one of the biggest days of trade for many retailers for the entire year.
Cyber Monday, this coming Monday 30th November, is one of the biggest days of trade for online e-commerce stores for the year.
Savvy shoppers across the world will be eagerly awaiting their discount emails and coupon codes from retailers and scouring the web, social media and physical retail stores for discounts and deals. It’s not unusual to see 20%, 30%, 40% and even up to 60 and 70% off recommended retail prices.
As much as we would love to VESTIRSI is unable to offer any big Black Friday discounts and I’d like to take a moment to explain to you why.
Put simply, my mission at VESTIRSI is to create Italian luxury leather bags for the smart, modern woman for under $300 AUD.
Why $300? Because at University as a full-time student, all I could afford was a simple, quality leather bag for under $300 and I couldn’t find one anywhere.
Why $300? Because at my first office job, I was working in a high end corporate environment and I needed a luxury leather bag to “look the part” but couldn’t afford a designer label on my entry level salary. I scoured the internet and stores for a quality leather tote that was minimal, elegant and chic for under $300 and couldn’t find one.
So, based on past experiences and the gap I'd observed in the accessories market, when I launched VESTIRSI years later all our bags were priced under $300 AUD.
But what does a RRP of under $300 mean for our profit margins?
Put simply, they’re small. They’re not overinflated. They’re not excessive. They are not ripping you off. We are not ripping you off. I haven’t added in extra padding for major retailers or department stores, for high end models and fancy marketing campaigns or expensive print and billboard advertising unlike other luxury fashion brands.
I just wanted to provide a quality bag at a reasonable price. To do that, we have gone straight to the manufacturer and cut out the middle-man, the excessive mark-ups and alot of the marketing. This means there just isn’t excess margin to discount in order to provide Black Friday deals.
Our story reminds me of the tale behind Tamara Mellon’s eponymous shoe line. Tamara, the co-founder of luxury footwear brand Jimmy Choo became tired of the excessive mark ups that were placed on her designer shoes. Season after season, she was pressured by board members and investors to increase her prices over and over again, until Jimmy Choo shoes became unaffordable for the even affluent, high earning women.
She wanted to make luxury more accessible, so in 2011 Mellon left Jimmy Choo and in 2013 started a new footwear brand to make designer shoes for women, by women, without the usual x6 retail mark-up. She describes the brand as “redefining luxury” providing “luxury shoes at direct-to-women prices.” The concept resonated with women world-wide and her shoe line has gone on to receive $87 million USD in funding and disrupt the entire luxury shoe industry!
I love this story as I am on a similar mission with VESTIRSI. You, as a smart, modern consumer should not be ripped off, you should not be over-charged and you should be able to access Italian designer quality at a fair and reasonable price.
You may not care at all about this story (fair enough!) and this might not be relevant to you (totally fine!) but I just wanted to take the time to explain the above, as I didn’t want you to think we weren’t being generous to our beloved customers! I really wanted you to know why our prices are what they are, and why, as much as I would love to, we are unfortunately unable to offer huge Black Friday and Cyber Monday discounts.
Italian Luxury Leather should be accessible all year round (not just for one holiday weekend) – that is what the smart, modern women demands and deserves and that is my mission with VESTIRSI.
Thank you for reading and I hope you enjoy the holiday season.
Love Monica + Team VESTIRSI