What designer, in their right mind, would design and tailor a man's suit and then try to sell it for £45,000? 27 year old designer, William Westmancott, that's who.
Why the sky high price? "It is made from a one-off luxury cloth designed and woven in a traditional English Mill," is the reasoning the Saville Row tailor gives.
Uh-huh... and?
We've heard of women digging to the deepest depths of their Prada wallets to shell out for outrageously priced handbags like the Chanel Diamond is Forever Tote or the Louis Vuitton Tribute Patchwork, but rare is it that you hear of men who are willing to splurge on fashion.
Saville Row is targeting "wealthy Russians and Middle Eastern gentlemen," as well as soccer players like Beckham and celebs like P. Diddy. Included with the purchase of the suit is a personal visit from Mr. Westmancott himself who will fly anywhere in the world to ensure the tailoring is perfect. Oh yeah, and he'll throw in a set of five shirts that usually retail for £2,475.
Ultra Luxury Men's Fashion
£45,000 Suit
Trend Themes
1. Ultra Luxury Men's Fashion - The trend of ultra luxury men's fashion is growing, offering opportunities for high-end designers to create and sell exclusive and expensive clothing items.
2. High-end Tailoring - The demand for high-quality and personalized tailoring services is on the rise, presenting an opportunity for skilled tailors to cater to wealthy clientele.
3. Targeting Wealthy Markets - Brands are focusing on affluent markets like wealthy Russians and Middle Eastern gentlemen, creating a market for luxury fashion products tailored specifically to their preferences.
Industry Implications
1. Fashion Design - The fashion design industry has the potential for disruptive innovation by creating unique and meticulously crafted clothing items for the ultra-luxury segment.
2. Tailoring Services - Tailoring services can seize the opportunity to offer customized and personalized experiences to high-net-worth individuals who are willing to pay a premium for exclusive fashion.
3. Luxury Retail - The luxury retail industry can tap into the demand for high-end men's fashion by curating exclusive collections and targeting affluent customers who value exclusivity and craftsmanship.