Telfar Bag Phenomenon: now the brand lets customers choose the price of the bags
Security programme, pre-orders, price points. What's behind the success of the bags and the Telfar phenomenon with the latest anti-luxury brand strategy.
Dynamic Pricing: the latest pricing system for Telfar bags - also called Bushwick's Birkins after the artistic neighborhood of Brooklyn - based on success and increased demand. On March 27 Telfar will launch the Telfar Live Price unisex clothing collection with an innovative pricing policy: the drop and amazement of the Telfar Addicted are starting (it is a real community of loyalists complete with Telfar Archive stan account); When customers start shopping, they'll find that prices aren't fixed, but the most popular and fastest-selling items will be the cheapest.
It is a mechanism that overturns the typical luxury business model: the greater the demand, the higher the price. Telfar, the brand conceived by Telfar Clemens together with his friend and current creative director Babak Radboy, has never been based on the concept of exclusivity. While gravitating around the system of hype and coolness 2.0, it has always made its products accessible to anyone who wants them. And how does the dynamic pricing conceived by Clemens work? At the time of the drop , the garments will be put up for sale at the wholesale price and then progressively rise up to the resale price. Once the bag is sold out, according to the limited quantity drop system, an item will remain available for future weekly sales until April 24, at fixed price of the last sale.
TELFAR'S SUCCESS STORY
"It's not for you, it's for everyone". Telfar Clemens founded the homonymous brand in 2005 in Queens, in New York City, creating genderless fashion ante litteram and investigating the concepts of identity and inclusion. No barriers whatsoever. Not even that of price, the bags from mini size to tote bag range from a minimum of 100 dollars to a maximum of 300. At the beginning of her career she decides to present her collections in nightclubs and museums, to then win in 2017, the CFDA award for young emerging designers. From there the success. Square style, simple silhouettes, affordable price, vegan leather, genderless, always sold out. In 2020 Telfar introduces the Bag security program : customers can purchase bags in any size, colour and quantity and all bags purchased will be shipped within a range of 3 months thereafter. You pay now to have them later. Isn't that so atypical in the age of see-now-buy-now-have-now? Yet the success is incredible. Telfar TV arrives in 2021 , a 24-hour television channel on the Telfar app where you can buy products for brand aficionados. “This Telfar bag imported, Birkins? Them shit's in storage" says Beyoncè in "Summer Reinassance", the track from her latest album. The message? The Hermès Birkin, the purest reincarnation of inaccessible luxury, in the era of inclusiveness is also replaced by celebrities with a bag that costs 20 times less.
