Friday, October 21, 2011

Manolo Blahnik

As Homecoming quickly approaches, most girls that attend can tell you how important the right pair of shoes can be. Just how much is someone willing to pay for the perfect pair of shoes? In the mind of Manolo Blahnik, consumers should be willing to pay several hundred to over a thousand dollars a pair. In 2007, Women’s Wear Daily wrote an article on Manolo Blahnik in which they canvassed two thousand consumers about their buying habits. Out of all these women, 37% agreed they would gladly jump off the Golden Gate Bridge for an unlimited supply of Manolo Blahnik shoes. Clearly, their willingness to do something so senseless for a lifetime full of expensive shoes proves that these shoes cannot be found at Target or Payless; they're considered a luxury good. Shortly after this article was written, however, Blahnik’s name and label plummeted. Competition had arisen in the shoe market, making it much more difficult to sell his ridiculously priced shoes at such a high cost. Christian Louboutin, for example, stole a huge chunk of the shoe market which had once belonged to Manolo. Louboutin’s signature red sole indicates a high price and generally a fairly wealthy consumer that bought them, and although the apple red sole seems extremely simple, it was an excellent advertising technique that played a vital role in the success story of Christian Loubitan. Though Louboutin’s popularity has soared even in this sluggish economy, it appears Manolo is back in the game. While Louboutin’s are known for their over-the-top designs, Manolo’s have the reputation of being not only stylish but fairly comfortable. One of Manolo’s particular styles boasts a waiting list right now. Retail analysts believe the current demand for Manolo’s is a very encouraging sign for the economy. It appears the upper end of the market is driving much of the retail growth. The luxury market is strong, which is certainly good news for Manolo Blahnik!

Natalie J

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