Ever wonder why Christian Louboutin's sequined ballet flats retail for $880? It's simple: because you keep buying them.
Shoes weren't always this pricey, though. Their tags quietly rose a few years ago around the time we were all reeling from sticker shock over the new high prices of designer denim. But now retailers from large department stores to tiny boutiques mark up kicks 2.4 to three times the wholesale price (clothes and bags are usually marked up only twice the wholesale price). The L.A. Times reports:
A pair of shoes that wholesale for $200 to $250 retail for $600. Exotic skins such as python, eel and stingray ratchet up costs even more. The same goes for ornate accents such as the mirrored heels on those ballyhooed Balenciaga sandals or the sculpted flower stem heel on Prada's latest pumps.
But like the real estate market, the shoe market could be in for a correction. NPD Group reports that in 2005, footwear sales were up 11%. That figure dipped to 5% in 2006 and wilted to 2.5 % last year. Now, with a recession looming, the industry can expect some scuffs.
In the meantime, don't fault Lanvin or the retailers for your financial blisters. "This is a free market," says Milton Pedraza, chief executive of the Luxury Institute, a retail research firm in New York. "The consumers are to blame for paying these prices."
We keep saying it, but we'll say it again: Fashion and economics are like peas and carrots. So if you'd like to spend a couple hundred less on those red soles in the semi-near future, please at least pretend we're heading into a recession right now and stop buying them. Oh, who are we kidding, we're shoe junkies too. At least wait for them to go on sale, mmkay?
Most Viewed Stories
American Apparel Files for Bankruptcy
‘Truly Ugly Guy With Glasses’ Is Europe’s Most Virile Man
Guess What? Americans Love Planned Parenthood
It’s Harder to Be Thin Than It Was in the ’80s
Céline’s Woman-Friendly Triumph
Ellie Kemper Thinks Kimmy Schmidt Would Fit in Well in Greenpoint
Witness a Photographer’s Affair With Los Angeles
Why Do I Jerk Awake Right As I’m Falling Asleep?
From Up Close, Raf Simons’s Vision for Dior Is Clear
This Santa Monica Loft Is a Neon Escape From New York Winters
From Our Partners
How Demi Lovato Embraced This Body “Problem” We All Have
Here's What To Buy From J.Crew's HUGE 75-Percent-Off Sale!
5 Best Sex Positions to Practically Guarantee an Orgasm
Tinder is Trash
powered by PubExchange
Latest News from The CutFree Rob
There's a Rob-shaped hole on the new Cosmo cover.Queen Ronda Rousey Is the First Woman to Cover Aussie Men’s Fitness
She's flexin' down under.Astrology GIFs for the Week of Ocotober 5, 2015
This week's horoscopes.The Big Secret of Every Dating App: Tech Doesn’t Matter
Just like at bars, it's the crowd that counts.
One more way to make weekdays easier.Coddington, Kawakubo Star in Interview Portfolio
They were photographed for a sweeping 60-page section by Fabien Baron.American Apparel Files for Bankruptcy
Current shareholders, including Dov Charney, will no longer control the company.Ellie Kemper Thinks Kimmy Schmidt Would Fit in Well in Greenpoint
Nobody bats an eye at the character’s outfits because “everybody there dresses like that.”Sigourney Weaver on Talking to Ronald Reagan About Abortion Rights
He didn’t want to chat.This Santa Monica Loft Is a Neon Escape From New York Winters
Where an Upper East Side couple flees when the cold becomes unbearable.
New York women in winter's least-boring outerwear, from bright-green alpaca fur to leopard-print mohair.The Retired Modeling Agent Who Loves Empire
“I started my own agency — we represented Twiggy — but went off to be assistant to the actor Yul Brynner, who was dating my roommate at the time.”Witness a Photographer’s Affair With Los Angeles
Bruce Davidson captured the city in 1964, and again almost 50 years later.Céline’s Woman-Friendly Triumph
Phoebe Philo remains in touch with what women want to wear.Sleater-Kinney on Riot Grrl, Reuniting, and Portlandia
10 things we learned from their New Yorker Festival panel.Watch the Akris Livestream
Enjoy!From Up Close, Raf Simons’s Vision for Dior Is Clear
And don't count John Galliano out at Margiela yet.5 Things I Want to Wear From Paris: Part 2
Cropped sweaters, a spangled skirt, and more.Cool Cocktail Dresses Inspired by the Philippines
From the up-and-comers behind Mestiza.Jaden Smith and Kesha Partied This Week
Along with Cindy Crawford, Anjelica Huston, Rita Ora, and Lena Dunham.