What pricing strategy does Balenciaga use?
Therefore, Balenciaga also have a premium pricing strategy based on charging high prices to make the products look more desirable to consumers in addition to the prestigious label they are buying into.
Balenciaga entrusts its marketing to Ludivine Pont
It is important to point out that advertising for luxury fashion brands is not focused on selling or promoting themselves massively. Therefore, the main objective is to offer the client exclusivity and status.
Premium pricing
A premium pricing strategy can help you build the perceived value of your product or service, straight from your initial launch. Your prices may drop slightly over time, but they should still give your buyers a feeling of exclusivity and, in many cases, luxury.
Gucci has mostly gone with a policy of premium pricing because its product quality is very superior. The brand name is associated with an image of high quality and the prestigious pricing makes the product a status symbol.
TARGET MARKET Our target customer for BALENCIAGA Beauty is a confident, well educated woman between the ages of 22 and 36 who lives in a big city and values luxury and quality.
Balenciaga, helmed by Georgian designer and Vetements founder Demna Gvasalia, has always been a cult luxury fashion brand. Its popularity graph is, once again, rising dramatically due to a marked emphasis on postmodern irreverence and a conceptual interrogation of what high fashion can and should be.
Therefore, Gucci's target market has primarily included celebrities, the wealthy, fashionistas, and the upper class. the target market has now been expanded to include the middle and upper middle class to make it more affordable for the middle-class women.
...
opener channels.
| English | español |
|---|---|
| Australia | España |
| International | méxico y latinoamérica |
| Middle East | |
| USA |
Balenciaga is now owned by Kering and its womenswear and menswear was headed by Nicolas Ghesquière.
BALENCIAGA IS HAVING AN APRIL PRICE INCREASE - YouTube
Did Balenciaga raise prices?
Kering's Balenciaga already raised prices in early January in China, according to the Xiaohongshu site. The cost of the label's curvy Hourglass handbags in size small and extra-small, for instance, has risen by 3.5-4% to 17,500 yuan and 11,550 yuan respectively.
Under Gvasalia, the Balenciaga mission statement is clear: luxury clothes to be worn, not mothballed; product that is desirable without losing its integrity as something practical.
Balenciaga owns about 180 stores globally, including Paris and New York, with over 1900 staff in only two of its locations. Its products are expensive and full of quality. As a luxury brand known for quality, it sources the best raw materials, giving durability to its finished product.
