Neil Cole, chairman and chief executive of Iconix Brand Group, Inc., which owns the Badgley Mischka label told WSJ's Heard on the Runway blog that they will be lowering prices for Badgley Mischka's Fall 2009 pieces. Cole did not have specifics yet.
"We realize the world is different," said Mr. Cole, whose firm also owns, licenses and markets brands including Candie's, MUDD and Joe Boxer. "People who are pretending that nothing's going on are not thinking properly. We have to react and give the consumer great value for great fashion."
A search on Neiman Marcus reveals gowns and dresses ranging priced from $395 to $1,195.00. Iconix must be seeing some sales resistance at current prices. Time will tell if Badgley Mischka's decision to lower prices encourages any other high-end fashion labels to follow suit. (via The Cut)
Neil Cole, chairman and chief executive of Iconix Brand Group, Inc., which owns the Badgley Mischka label 
