The Exclusive 'Balenciaga Track' Can Only Be Bought by Appointment
Laura McQuarrie — August 25, 2018 — Business
References: balenciagatrack & thecurrentdaily
The Balenciaga Track sneakers are the newest pair of chunky luxury sneakers, but only a few consumers will be able to get their hands on the exclusive style due to the way they are being sold by the designer label.
As a leader in luxury fashion, Balenciaga made intentionally "ugly" sneakers—like its Triple S style—a must-have accessory. With the release of this in-demand sneaker, Balenciaga saw this style quickly sell out time and time again, leaving a long waiting list of consumers who wish to be notified of when the luxury footwear product is back in stock. Inspired by this phenomenon, Balenciaga is releasing the extremely exclusive Balenciaga Track style that can only be purchased with an appointment at Selfridges' Corner Shop pop-up.
As a leader in luxury fashion, Balenciaga made intentionally "ugly" sneakers—like its Triple S style—a must-have accessory. With the release of this in-demand sneaker, Balenciaga saw this style quickly sell out time and time again, leaving a long waiting list of consumers who wish to be notified of when the luxury footwear product is back in stock. Inspired by this phenomenon, Balenciaga is releasing the extremely exclusive Balenciaga Track style that can only be purchased with an appointment at Selfridges' Corner Shop pop-up.
Trend Themes
1. Exclusive In-store Sneakers - Disruptive innovation opportunity: Implementing a reservation-only model for luxury sneakers creates exclusivity and scarcity, driving up demand and creating a sense of urgency among consumers.
2. Chunky Luxury Sneakers - Disruptive innovation opportunity: As the popularity of chunky sneakers continues to rise, there is an opportunity for brands to create their own unique styles with exaggerated designs, catering to the growing consumer demand.
3. Limited Edition Releases - Disruptive innovation opportunity: Manufacturers can utilize limited edition releases, like the Balenciaga Track, to create hype and FOMO (fear of missing out) among consumers, leading to increased sales and brand loyalty.
Industry Implications
1. Luxury Fashion - Disruptive innovation opportunity: Luxury fashion brands can explore exclusive in-store sneaker releases to provide a unique shopping experience and attract high-end consumers seeking rare and limited products.
2. Athletic Footwear - Disruptive innovation opportunity: Athletic footwear brands can leverage the growing demand for chunky sneakers by designing bold and unconventional styles that cater to the fashion-forward consumer segment.
3. Retail - Disruptive innovation opportunity: Retailers can create pop-up shops and implement reservation-only models to drive foot traffic and create a sense of exclusivity, offering customers a unique and memorable shopping experience.
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