American luxury fashion brands follow their European counterparts in reducing price levels
VERA WANG, considered by many in the industry ”the Chanel of wedding dresses” has recently annouced a 40% cut in the price levels of its new collections, especially in the cruise lines. Ms Wang also added she had never seen so many frightened customers to make purchases at all price levels.
Another top American fashion brand OSCAR DE LA RENTA confirmed a 30% reduction in the level of prices. The moves of the American labels follow in the steps of European Dolce Gabbana and Salvatore Ferragamo which both resorted to reduction of price levels.