A famous ready-to-wear brand, known for its low-cost products, is now offering much higher prices than last year. Dresses and shoes are the first items to be toasted.
A tough blow for fashion aficionados! While this giant of the sector has, until now, enjoyed significant success following the significant increase in its turnover – we are talking here about an increase of more than 55% in one year – the wind could finally turn in 2024 for this behemoth. Indeed, after having implemented various commercial strategies, this competitor of the Zara and H&M brands would have considerably increased its prices compared to last yearmuch more than its rivals. Let’s take stock.
If the brand was so popular, it was mainly for its attractive prices. However, the label’s leaders seem to have decided otherwise for this year 2024. A study conducted by the London firm EDITED reveals that it compared the prices of items on June 1st with those of the previous year. It turns out that in the United States, the label’s largest market in terms of sales, the average price of dresses would have increased by 28% over the past year, to display a label today around 28 dollars (or about 26 euros), compared to 22 dollars last year (or about 20 euros). Same sentence in the shoe department. Today, a pair of shoes, sold by the brand on the American market, is displayed at the average price of 41 dollars (or about 38 euros), compared to 25 dollars last year (or about 23 euros). Which corresponds to an overall increase of more than 60%. Never seen !
Very concretely, if we take the average of prices on the four European markets of the chain, in other words France, Germany, Italy and Spain, the increase in the prices of dresses reaches 36%, or an increase from 22 euros to 30 euros in one year. But then how can we explain this sudden change in price? The introduction of other brands within the label, but also its plans to go public could, in part, explain this dramatic turn of events. So, from now on, when you browse the Chinese platform, expert in fast-fashion, Shein, the prices could well surprise you.