What's Happening?
Palome, a one-year-old womenswear label, has adopted an innovative production strategy to offer luxury fashion at lower prices. The brand, founded by Liz Morling, produces garments during off-peak factory
times using deadstock fabrics sourced globally. This approach allows Palome to keep costs down, offering items like a 100% cotton T-shirt for £20 and a cashmere sweater for £70. Despite the challenges of relying on factory downtimes and limited material availability, Palome's strategy has enabled it to provide high-quality clothing at accessible prices.
Why It's Important?
Palome's approach addresses the growing consumer demand for affordable luxury, especially as traditional luxury brands increase prices, alienating entry-level consumers. By leveraging off-peak production and deadstock materials, Palome not only reduces costs but also promotes sustainable fashion practices. This model could inspire other brands to explore similar strategies, potentially reshaping the fashion industry's production and pricing norms. As consumers increasingly seek value and sustainability, Palome's success could signal a shift towards more innovative and responsible fashion business models.
