Higher-priced ties doesn't seem to worry companies known for luxury neckwear
The Journal has an interesting article on ties and a free month of access to their online site here wsj.com/freetrial
Long the most boring gift under the Christmas tree, the tie is getting a luxury makeover this holiday season. Tie makers, struggling with declining sales since the early 1990s, are proposing more luxurious fabrics, pricier construction techniques and fancier gift boxes to position their wares at the highest end of the market. The reason: Ties over $100 are the one segment of the market that's reporting brisk growth.
Earlier this year, Salvatore Ferragamo introduced its most expensive tie ever -- a $180 handmade five-fold tie of Italian silk. LVMH's Thomas Pink label is rolling out its first "seven-fold" tie -- made from a single piece of silk folded seven times -- for $165; that's $65 more than its current top-of-the-line style. Robert Talbott is also launching its first seven-fold tie, a limited edition sold in lacquered wooden boxes. Suggested price tag: $245, a venture into the elite territory claimed by companies like Kiton.
See some examples of the new power ties.
Several retailers say they are stocking up on pricey ties this season because the category did so well last year. "Our customers are telling us they want more," says Russ Patrick, general merchandise manager for menswear at Neiman Marcus. Among this year's offerings: Stefano Ricci ties decorated with Swarovski crystals for more than $1,000.
Besides the higher price tags, shoppers will see new styles. With men's closets full of the stripes and solids that have been promoted in recent years, brands like Calvin Klein and Mark Pendleton are reviving the classic paisley motif, last popular in the 1980s. Many of the new paisleys are woven rather than printed, and colors run to jewel tones like bronze and burnt orange. (When pairing a shirt with a paisley tie, one should coordinate with one of the lighter colors in the pattern.)
In general, though, colors are more muted than they were this past spring, with plums and purples replacing pastels and bright pinks. As shirt collars have gotten wider and shorter, bigger knots are returning, too. Thus the emergence of thicker ties, like the hefty seven-fold, which has "a crisp hand and ties an amazing knot," says Daniel F. Leppo, vice president of men's furnishings at Bloomingdale's.
Shoppers will also see more of the so-called suiting tie -- similar to suit fabrics -- sometimes in cashmere. So far, wool ties haven't gained a wide following, despite promotion by retailers and fashion magazines. But pinstripes or glen plaids, from the likes of Ike Behar and Bergdorf Goodman, are as conservative in style as the suits on which they're based; they're a good bet for men who want to be fashion forward without being flashy.
The upmarket strategy on the part of manufacturers and retailers comes amid a boom in sales of high-priced ties and strong sales of luxury goods overall. At department stores, sales of ties costing $100 or more rose 22% last year, compared with a decline of nearly 9% for ties under $100, according to market researcher NPD Group.
More generally, the tie business is facing a knotty problem. Sales peaked in the early 1990s at about $1.3 billion, according to the Men's Dress Furnishings Association. Then men started dressing more casually. Last year, sales inched up 2.6% from the previous year, to $831.6 million, but sales during the crucial last three months of 2005 actually fell 1.2%, according to NPD Group. Discounting helped push down the average price of a tie to $15.96 last year, from $17.01 in 2004.
Another hurdle: The one-time no-brainer present for Dad is now viewed as the ultimate cliché. Tie makers say one solution is to make their ties stand out. "I don't wear ties very often, but making it something a little special would be a hook that would appeal to me," says Thomas Ingrassia, 53, who runs an artist management agency in Worcester, Mass. If he got such a tie as a present, he says, "my perception would be that the giver put a little more thought into the gift." More...
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