By Paul Pannone
Since announcing a deal with David’s Bridal, plans to make more Vera Wang bridal products available at affordable prices continues to grow. The expansion includes bridesmaid dresses to the David’s Bridal collection retailing from $150 to $200, with shoes also slated at affordable pricing.
Furthering the expansion into bridal a new partnership with 500 Zales stores creates a mainstream– again affordable line– of jewelry strategically priced at a slightly higher starting price (under $2,000) than the varying national average price of an engagement ring, depending on the source.
Vera Wang products move from luxury to affordability to service a broader market.
The Vera Wang move to affordability is consistent, as the days of offering exclusive wedding dress designs at prices starting at $15,000, selling in any consistent degree to the public are all but over. The revised move into jewelry comes as no surprise as a reported 78% of brides spent less than $1,031 dollars for their dress in 2009. 16% spent between $1,031 and $2,062 dollars. Only 6% spent over $2,062 dollars and only a small fraction of the purchases were Vera Wang designs.
Wang’s move into more affordably priced jewelry comes after a failed attempt in luxury jewelry with Rosy Blue group in 2003. The collection started at $300 dollars for a basic wedding band with average pricing ranging between $2,000-5,000 dollars. Elaborate pieces ran as high as $150,000 dollars. But the deal fell apart as the luxury market and global economic factors sealed its fate.
The Zale’s deal will expand Wang’s reach to the mainstream masses, offering a wider selection at realistic prices that reflect the current market conditions in the wedding business.
Vera Wang’s struggle with a labor union remains the most-read eWedNewz story of 2011.
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