By Paul Pannone
Revered wedding gown designer, Vera Wang, continues her move into other products and market areas, expanding her business in a tough economic environment. Since announcing a deal with David’s Bridal Wang’s influence on the dress business continues to grow. But in a shrinking wedding market Wang’s strategic move into other areas and becoming more affordable makes perfect sense.
Vera Wang’s influence has now reached the men’s formal wear category.
Vera Wang and Men’s Wearhouse are now partners in the men’s formal wear category. The move should come as no surprise; the David’s Bridal and Men’s Wearhouse love affair dates back to 2006 when Federated Department Stores agreed to sell its Bridal Group division in two separate transactions. Leonard Green & Partners of Los Angeles reportedly paid about $750 million for the 269-store David’s Bridal and 10-store Priscilla of Boston stores.
Men’s Wearhouse took over the 511-store After Hours Formal wear business for a reported $100 million-dollars but the two continued to work together sharing leads and cross promoting their business to the same bride. David’s Bridal has been pushing brides through MW doors for years;
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David’s Bridal recently entered the photography business in an added effort to extrapolate as many budget dollars from the same bride as possible. David’s Bridal continues to refine and hone their business leveraging low, medium and higher cost goods in their core dress business and redirect the traffic to partner relationships in their network.
Priscilla of Boston stores are due to close by the end of 2011, killed in part by the success of Vera Wang’s higher ticket prices in David’s Bridal stores. Sources that did not wish to be identified earlier this year said Vera Wang products were outselling comparable products in Priscilla of Boston stores “four-to-one” and was a leading cause in the decision to dump the Priscilla business and overhead that went along with it. Sources told eWedNewz cost cutting and better deployment of resources is an ongoing process at David’s– always looking to the bottom line.
Reaction to the MW and VW deal has so far been mixed, as traditional tuxedo companies say men won’t wear a woman’s label. But from a marketing view brides are still the primary decision makers and will want coordinating Vera Wang tuxedos with their gowns.
What do you think? Will Vera Wang tuxedos rock?
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