Telfar is taking the next step in its "It's not for you — it's for everyone" journey.
Starting on March 27, the brand is launching a new pricing tool on its website to coincide with its new unisex clothing collection. Customers will find that, instead of fixed prices for everything, the most popular, fastest-selling products will be cheaper, according to a report by Fast Company.
Indeed, every piece listed (clothes, not bags) will be at the wholesale price and go up over time depending on demand (a rate of $10-20 every week). The final price at which an item sells out will stay that way for all future collections.
The new method will help Telfar gather data about customer demand. “This will give us information about how much of each product we should order in the future,” Telfar creative director Babak Radboy told the outlet. “And the larger the order, the cheaper it costs to manufacture.”
With this new experiment, where prices start at its lowest and go up over time, there will be a clearer picture for how quickly products sell out and the prices will correspond to that.
The new pricing system is expected to run on all new clothing drops through April 24. “I want people who want my clothes—and will look cool in it—to be able to get it,” Telfar Clemens addded.
Telfar listed the following explainer on its website:
1. Collection drops at the WHOLESALE price (more than 50% off).
2. The price goes up every second — until it reaches FULL PRICE.
3. Whatever price it SELLS OUT at — becomes the price FOREVER, basically.*
4. YOU DECIDE THE PRICE: the more you want it — the lower the price.
Photo via Getty
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