Phoebe Philo's eponymous brand launched on Monday.
When Philo left Celine in 2017, the "Philophiles" were left in anticipation of her next move. She teased her line earlier this year by claiming its Instagram handle.
Philo made a name for herself during her tenure at Celine (né Céline) "for her minimal and effortless approach to clothing, [she] revived Celine and brought the brand into the modern era…" But now she is ready to take her style to her own line, which is backed by LVMH.
The A1 drop includes 150 styles of "big, rounded shoulder line, trousers, and always, with everything, high heels." A1 will roll out in three drops; the first came on Monday, and the next two will follow within the coming months. A2 will drop in Spring 2024.
Sharing about her launch isn't the only point of this blog post. I read an interesting article on Vogue Business by Maliha Shoaib, which dove into the anticipation of this drop, the value of exclusivity, and how can a brand this anticipated live up to the hype and live beyond its first drop.
Out of 150 pieces, 70 were sold out within the first 24 hours of the launch. The prices "range £340 for sunglasses and £2,600-£6,200 for bags to £13,000 for an iridescent sequin dress." Shoaib explains that the price point, along with limited stock/collections, makes Phoebe Philo the brand very exclusive.
Shoaib dives into the drop model's success for blue-chip brands. Now, this is the first I've heard of either of these phrases before reading this article, so if you're like me, let me break it down. To my understanding, the "drop model" is a business model when brands create products and release them as a limited collection to their consumers. And "blue-chip" brands are companies that are well-established.
The drop model is successful for many companies across price points: Skims and WeWoreWhat for a lower price point and Hermès for a higher. Gary Wassner, CEO of Hilldun Corporation, explains that Hermès, a blue-chip company, is successful with the drop model because it creates new hype around the brand whenever they have a drop; also, the public is unaware of the drop schedule, so it creates a demand for the product and "feel privileged if you can get it." The drop model creates the feel of exclusivity and "fuels the idea that the items are limited-edition, which means they will likely retain value…."
I believe the drop model is a brilliant way to keep consumers following the brand on social media, opening its e-mails, and stalking its website. It also entices the consumer to make the purchase when it is a limited stock. I have a strict two-week-rule when shopping: if I still want the item after two weeks, I can get it. The drop model doesn't give me that luxury because the drop may be over by then, or the item may be sold out. I have fallen victim to the drop model and bought something out of FOMO.
I also love that it creates exclusivity. Along with a high price point and presumingly high quality, Philo's brand is already listed among names like The Row and Khaite. For a brand that just launched, that is a huge feat. Its business model and demographic paved the way for the brand to be luxury before it even posted on Instagram.
The drop model is a perfect way for Philo to keep the hype around her brand for many edits to come.
I believe the Phoebe Philo PR team has the business analyst and Phoebe to thank for not having too much to do at the moment. Philo brought her devoted fans and brilliant style, and the business analyst found a way to create exclusivity and even more demand for the brand.
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