Thursday, July 30, 2009

Super Saturday Part 12

Fasten your seat belts ladies and gents. Super Saturday is starting off with a bang this weekend. The annual event, which benefits the Ovarian Cancer Reach Fund will take place at Nova's Ark Project in Water Mill. Hosted again by Donna Karan, Ariel Foxman, InStyle, Kelly Ripa and Blake Lively Super Saturday 12 will feature its famous one-of-a-kind designer garage sale, kids'carnival, food and lots of activities.

The hundreds of garage sale participates include, Anya Hindmarch, Carmen Marc Valvo, Catherine Malandrino, Giuseppe Zanotti, Herve Leger and Red Valentino.

Tickets range from $450 to $650 for adults and $150 for kids 5 to 16 years old. Click here to purchase tickets or call 212-759-2800.

Nova's Ark Project
August 1st, 2009
Water Mill, NY
1pm - 6pm

Wednesday, July 29, 2009

Ports 1961 75% Off Consolidation

From the Mad-Spy Inbox:

Just a quick note to let you know that we are consolidating our 75% off sale pieces to the NYC Meatpacking store...this means we will have more sizes and styles available from our Spring Collection at 75% off the original retail! These pieces will arrive by the weekend so please stop by.

Contact: Eddie 917-475-1022

Jimmy Choo Discounts 65% Off

We just received word that Jimmy Choo has dropped prices again on their spring and summer merchandise. The current discount is now 65% but the sale only runs until Friday. We imagine that following Friday, all left over merchandise will be sent to the abyss of unwanted items of seasons past.

In May, Jimmy Choo took their first discount of 30% off. Then prices dropped to 50% off in mid-June. This current discount is their third and final markdown. We hear that sizes are getting limited. So now would be a good time to get any items you were holding out for.

Contact: Faisa 212-759-7078

Monday, July 27, 2009

Gap Give and Get

You may think Uniqlo is cooler than Gap but we appreciate Gap's commitment to community and philanthropy. With Gap's Give & Get program it's a win-win situation.

When you shop online or in-store at Gap, Banana Republic and Old Navy from July 30 to August 2, you'll get 30% off your purchase. What's even nicer is that 5% of what you spend will be donated to a Gap non-profit partner of your choosing.

We chose the Leukemia and Lymphoma Society but other options include, Teach for America, Feeding America, and Care. Lets see Uniqlo do the same!

Thursday, July 23, 2009

Hermes Scarves 40% Off

Who needs to wait on a three hour line to get into an Hermes sample sale when Bergdorf Goodman is discounting Hermes scarves 40% off? Yes, you read correctly. Despite Hermes reporting steady profits, their scarves are being discounted by Bergdorf for the first time.

What styles are included: "Everything before fall and spring '09," an Hermes specialist reported. "We have a lot of back stock and they worked out with Hermes that we could put some styles on sale."

For those fluent in Hermes scarf talk, the following styles are just a few included in the discount: House of Characters, Mosaic, Lights of Paris, Walk in the Park, Golf Balls, Moroccan Saddle and Mogul.

Standard size Hermes scarves are normally priced at $375 but come out to $227 with the discount. Almost seems like a reasonable price, huh?

Contact: Hermes Scarves Sara 212-753-7300

Tuesday, July 21, 2009

Designers Re-adjust Prices for Fall

The summer sale season is drawing to a quick end. As we've been racing to the back of stores and sorting through scattered sales racks, department stores and boutiques have been carefully laying out the new collection like fragile souffle. For many designers, this new collection will truly determine the state of the retail economy.

One trend we quickly noticed is the "re-adjustment" in pricing. In mid-June, an eager Gucci sales associate commented that pricing was going to start off much more aggressive. She pointed out a fine mohair coat, which she said would likely be priced at $6,000 during brighter economic days. This season, the coat is hitting store shelves at $4,000 or about 33% less than a similar coat in 2008.

Gucci isn't the only brand trying to hold down prices. We recently got our hands the Prada winter price list. Classic styles that are almost never seen on sale have had their prices re-adjusted. A buttery, gathered, nappa leather tote was $2055 but is $1495. That's 25% less! A similar bag made of nylon was reduced about 9% from $1155 to $1055.

Burberry has also reduced the price of some coats. The weather proof iconic trenches are $750, or $150 less expensive than the start of the prior season. We also hear the Chloe has made their prices a bit more agreeable to consumers wallets

Will these lower prices help lure customers? Huici Lin, an avid shopper who works in research at a major university says, lower prices will help lure shoppers but prior seasons have trained customers to wait for sales. "No matter how pretty those shoes look in the glass display cabinet, they will still go on markdown."

If Huici is correct, this season may turn out to be great for shoppers like you and me but a bad sign for designers who have had to slash their margins to accommodate lower pricing.

Roberto Cavalli Going to 70%

We have good news and better news:

The good news is that spring and summer merchandise at the Roberto Cavalli boutique is currently marked down 60% off. The better news is that prices are dropping again starting Monday, July 27th. The new markdown will be to 70% off. The presale officially begins on Friday but our sales person put it best when she welcomed us to come in at our convenience.

We are told there are still lots of dresses and "other things." Small sizes are running low but the selection grows from size 38 and larger. The new markdown is only expected to last two or three weeks before they move it out and concentrate on clothing for the winter season.

Contact: Laurie 212-755-7722

Sunday, July 19, 2009

Manolo 2nd Markdown

It's less than two weeks ago that we reported that Manolo Blahnik started their spring summer sale. As predicted the prices have come down further to 50% off from 33% off.

The sale officially starts Monday, so it's safe to assume that there's still a large inventory of sizes and styles. Will prices fall further? The magic eight ball says: Signs point to yes.

Contact: Abby 212-582-3007

Friday, July 17, 2009

Bergdorf and Jeffery

Before you head out for another beautiful summer weekend, know that Bergdorf's current discount is 70% off but merchandise is starting to go very quickly.

Downtown, Jeffery has marked down the spring and summer collection to 60% off. Caution, we hear that there is still a good selection but the temptation to over shop can be overbearing.

Have a great weekend.

Jeffery: Michelle 212-206-1272 (You want the sales person Michelle, not Jeffery's assistant Michelle.)

Wednesday, July 15, 2009

Summer End Round Up; Part 2

Below is Part 2 of our retail roundup. Click here to see Part 1.

Jil Sander:
This week, all spring and summer merchandise was further reduced to 50% off. The season is only expected to last another two weeks despite the fact that there is quite a good selection. Some sizes, however, may be limited. So call ahead.
Jossiline 212-838-6100

Jimmy Choo:
The summer season is still going strong at Jimmy Choo. The discount is 50% off and "we have never gone down more. It’s even the same discount at the outlet store," a sales person said. We are told there is a wide range of inventory but sandals are starting to go very quickly.
Faisa 212-759-7078

Michael Kors:
Michael Kors is not rushing summer away. "We have very few things left but a bit of everything," a sales associate told us over the phone. Those color blocked dresses we all loved are totally sold out but don't worry there are still lots of bags. The discount is at 70% off and the merchandise should be around for couple of more weeks before it makes its way out of the store.
Tony 212-452-4685

"It’s all gone to Broadway," said a sales woman at the Madison Avenue boutique. Down in SoHo, we are told that there isn't much left besides a couple of shoe styles, a few pieces of clothing and absolutely no bags. The current discount is 50% off but last weekend there was a three day 70% off sale, which did a good job of clearing out merchandise.
Christina (Madison Ave.) 212-327-4200
Michel Hubner (SoHo Store) 212-334-8888

There is still a small selection of spring-summer merchandise at Valentino, which includes bags and shoes. The current discount is 60% off on ready-to-wear and 40% off on accessories and shoes.
Robert 212-772-6969

Tuesday, July 14, 2009

Summer End Round Up; Part 1

It hasn't even broken 90 degrees on the east coast this summer but stores are already starting to remove their spring/summer merchandise from their stores. Being that it's coming to the end of the season we thought it would be a good idea to take an inventory of the sale environment.

Bottega Veneta: There is nothing left. Everything besides a few pair of shoes have been removed from the store. The only markdown was 50% and that sale started in early May.
Angeline 212-371-5511

"Get in here as soon as soon as possible," an eager sales person told us. There’s still some merchandise left but it will be leaving June 19th. The discount has been 50% off since May.
Incus: 212-717-8220

Christian Louboutin
In late May, we reported that the Louboutin boutique reduced their shoes to 40% off and were assured that they would not be reduced any further. We were sceptical with good reason. As of now, the current discount is 50% off. We are told there is still a good selections of sizes and styles including shoes that you can actually walk in.
Erich 212-396-1884

Dolce & Gabbana:
The discount is still 50% and we are told, “We only go up to 50% for now on.” The boutique, however, just held a private sale off 70% off sale for friends and family. (The invite got lost in the inbox accidentally, sorry.) Give it a week or two and we expect to see that same discount offered to the public.
Cono 212-249-4100

There is still a nice selection of ready-to-wear. Most of the cloths are 60% off but there are a few pieces like a white blazer, a dress and a basic pair of pants that have been reduced to 75% off. We think there will be another markdown before summer is officially over.
Nora 212-717-2619

Lila Dishes for the Boston Herald

It seems as if the bitter economy is taming the Bridezilla. Lila's New York Times quote resurfaces in the Boston Herald as jewelers discuss how much customers are cutting back.

“The half-carat is the new 3 carat,” designer sales blogger Lila Delilah told The New York Times [NYT] on Tuesday.

“God, I hope not,” said Sevag Zargarian, owner of Boston Ring & Gem , located in the Jewelers Exchange Building in Downtown Crossing. “I’d say 2 carat is the new 3 carat. Or a carat and a half is the new 3 carat. Couples aren’t going for ostentatious. Maybe the can’t afford it. Or maybe they feel guilty.”

Click here to read Lauren Beckham Falcone's article Sluggish Economy Slays Bridezilla. If the poor economy is the death of just one thing lets hope it's the Bridezilla.

Monday, July 13, 2009

Failure of CIT Group is Big Trouble

The retail environment is about to get a lot worse as CIT Group, the leading financing company to the apparel industry, looms on the brink of bankruptcy. In a last ditch effort to remain solvent, the bank applied for a second round of government bailout money. Their application, however, is expected to be denied.

What does this mean to a company that creates more than $60 billion in finance and leasing to small and middle market businesses and is the largest factor to the garment industry?

One mid-sized clothing manufacturer we spoke to said that if things don't clear up, and clear up fast, they might as well just hang a gone-out-of-business sign on the door because, "If they go bankrupt we go bankrupt." The sentiment is the same all over town.

It's going to cost Seventh Avenue a lot of money to weather this storm. First, apparel companies will have to overcome the fact that they may never receive the money CIT Group collected on their behalf for the previous season. Then if they can get past that-- which many companies can't-- they will have to borrow money at a higher percentage from smaller banks. These higher operating costs are occurring at the same time as retailers are asking brands to lower prices.

Higher costs and less profits mean that many of out favorite brands will not exist when we start our Christmas shopping this year. For this reason lets hope CIT Group doesn't go down the same path as Lehman Brothers.

Sunday, July 12, 2009

Bloomingdales Clearance Sale

Bloomingdales has started their clearance sale where designer duds are up to 85% off. Brands like Armani, Ralph Lauren and Marc Jacobs are now all an extra 50% off the reduced price.

This M Missoni tank dress started at $545 and is now $164! When this sale starts the good stuff goes fast so we suggest going now. After all, Bloomingdales does not have the most desirable selection to begin with.

Thursday, July 9, 2009

Prada Friends and Family 70% Off

This is the end of the line for spring/summer at Prada. Prices at the boutiques are now 70% off for "friends and family."

Worried that you're not related or bffs with anyone who works at Prada? Don't fret. Lets put it this way, everyone who walks in the store and buys something is a "friend." The sale starts Friday and runs through Sunday. By the end of the weekend, however, we predict that there will be next to nothing left.

Here are a few examples of bag prices: A soft sided nappa leather hobo is now $450, a Nappa B is now $700 and a rose umbra to black with gold hardware is now about $650.

clarification: It appears as if the high volume of calls from Mad-Spy readers has caused some Prada sale associates to become more strict about the sale than usual. I appologise for any inconvience.

Madison Avenue: Janik 212-327-4200
SoHo: Michel 212-334-8888

Madison Avenue Changing- MadSpy TV Episode 1

Madison Avenue is one of the most famous shopping destinations in the world. It attracts the highest level of luxury goods and those who love to consume them. It is a destination that draws people from all over the world and is a location that reflects the desires of those who live in the neighborhood. In the first episode of MadSpy TV, Lila Delilah hits the streets to investigate how the Avenue is changing.

First Lila speaks to store owner Paige Gamble, to talk about how the perception of luxury is shifting. Then Lila chats with AJ Camhi of Murry Hill Properties. to discus the changing real estate landscape. Lila later hits the streets of Madison Avenue to speak to shoppers just like you to find out what changes you have noticed.

Wednesday, July 8, 2009

Manolo Blahnik Sale

The Manolo Blahnik sale has started but the discount is a bit disappointing. The markdown is just 33% where last season the sale ranged from 50% to 70% off. One good point, however, there are "lots and lots of styles and sizes to choose from," out trusty sales associate confided.

Unlike the previous sale, there are not many exotic shoes included in the discount. We are told that there are only a few snakeskin styles included in the markdown.

So will the discount go further? We expect so--just give it a few weeks.

Contact: Abby 212-582-3007

Saks Extra 50% Off

Sale season is just starting to get interesting. Starting Thursday, Saks is taking an extra 50% off sale merchandise that was already discounted 30% for a total of 65% off. The previous markdown was up to 60% off.

This extra promotion is only running through Sunday and then prices supposedly return to their present markdown. Is 65% really the final cut? Nah, the best sales come during consolidation when prices sink to 75% to 85% off. Now that's a sale!

Nordstrom Shoe Finale

Nordstrom is taking off an extra 15% from designer shoes, which have already been reduced by 60%. The total discount is now about 66% off.

We have a feeling that not much is left at this point. However, if you have the time and inclination, it may be worth checking out the local the Garden State Plaza store, in New Jersey or the Roosevelt Field store in Garden City, New York.

Tuesday, July 7, 2009

Barneys Final Markdown

Barneys is starting their third markdown starting Thursday. The discount is currently 40% with an additional 25% off for a total of about 55% off. The new discount is expected to be 40% plus an additional 30% off for a total of 60% off. Some items are discounted even less already and should come down a bit more.

What's left? Miu Miu Paillette Peep Toe Pump shoes that were $650 and are now $259, a Marc Jacobs Mercer Cole Tote was $1,295 and should go down to $520, and an Alexander Wang is discounted even further from it's $350 starting price is just $109.

Is this the final markdown? Most likely prices will end somewhere ranging from 70% to 80% off before being put aside for the warehouse sale.

Lila Dishes for Luxaholics

Lila speaks to Luxaholics about how and where to negotiate for a better price.

"Local stores are the easiest for negotiating a better price. There’s a small NY store called Bon Nuit, which will cut the price a bit. In Red Bank, NJ there’s a store called Coco Pari, which will discount a bit. For instance, they’ll occasionally cut 10% on full-priced Louboutins."

Click here to read more about the best places to ask --for a bit off the top. Do you ever try to haggle? Where have you been successful?

Monday, July 6, 2009

Temperley London 60% Off

Temperley London is hosting a summer clearance sale where select items are reduced up to 60% off. An $1825 jacket is now $730, a white flouncy dress was $1185 and is now $474 and a leopard tunic was $755 and is now $302.

The sale is taking place at the SoHo boutique and East Hampton pop-up shop. We are told the markdown will last until July 20th but we imagine that after that time the merchandise will either be removed from the store or further discounted. We imagine the latter to be true.

New York – 453 Broome Street, 2nd Floor 212-219-2929
East Hampton - 53 The Circle 631-329-6505

Lila Dishes for The New York Times

Lila speaks to The New York Times about how many consumers are slashing their jewelry expenditures and opting for less extravagance and more sentiment.

In this economy, many consumers would rather keep their money in their wallets than on their fingers, necks or ears. As people re-examine their budgets, jewelry is turning out to be one of the easiest places to cut back — or trade down.

“The half-carat is the new three-carat,” explains Lila Delilah of Madison Avenue Spy, a blog about designer sales.

Yet the understandable penny-pinching by consumers is putting a painful squeeze on the jewelry industry.

Click here to read Stephanie Rosenbloom's full article, Not Too Precious for a Recession.

Have you cut back on your jewelry spending? Let us know how in the comment section below.

Sunday, July 5, 2009

Paul Smith 30%

Men's sales always start later in the season than women's markdowns. Paul Smith is currently reducing his spring/summer collection 30%. A suit from his Mainline collection was $3,155 and is now $2209, a Mainline waffle check shirt was $485 and is now $340, a London collection double cuff shirt was $255 and is now $179.

Before you fall for that London dandy look, remember that Paul Smith's clothing goes to 75% off at the end of the season. In men's time-- that's about September.

Wednesday, July 1, 2009

Best & Co. Files Chapter 7

The 130-year-old children's clothing company, Best & Co., ceased operations and filed for bankruptcy earlier this week. The retailer, which sold very high end children's clothing and accessories had a flagship location in Greenwich, Conn., and a small boutique within Bergdorf Goodman.

The store in Greenwich has already closed and a spokesperson for Bergdorf Goodman said, "Since the company has filed Chapter 7, Best & Co. at Bergdorf Goodman will close. The details have not been finalized at this point."

Best & Co. was originally founded in 1879 as a department store. In 1997, Susie Hilfiger --former wife of Tommy Hilfiger--relaunched the brand. The company was sold to FAO Schwartz in 2007. FAO was most recently purchased by Toys 'R' Us and we are confident that Jefferey the Giraffe and the the snooty clothing brand had little in common. With this current retail climate we imagine that not many retailers will be interested in taking the risk of a children's boutique --even if inside Bergdof. Well, maybe Spring Flowers would be a good fit?!

Bergdorf is listed as one of the retailer's many creditors and we imagine that the department store will operate the boutique for the remainder of the season and liquidate the inventory. Be on the lookout for some major discounts on the seventh floor!