Source: Jeremy Moeller / Getty
The Shopping Bag is already a staple in the fashion community, but Telfar clothing offerings haven’t popped off nearly as quickly, so the designer’s bringing the consumer in on figuring out the price points.
So now, when you need some goods to match your Bushwick Birkin, the items will begin at wholesale price and keep rising until they’re sold out. Once all the merchandise is gone, the most recent price will determine how much that item will cost when it is re-released during future drops.
Dubbed the Telfar Live Price format, it will debut March 27.
“Many brands use price as a barrier to entry. I never wanted that for my brand,” designer Telfar Clemens told
Fast Company.
Telfar’s official site simplifies the rules below:
1. Collection drops at the WHOLESALE price (more than 50% off).
2. The price goes up every second — until it reaches FULL PRICE.
3. Whatever price it SELLS OUT at — becomes the price FOREVER, basically.*
4. YOU DECIDE THE PRICE: the more you want it — the lower the price.
Fans are divided about the new pricing structure with
Instagram commenters comparing it to Ticketmaster’s tiered costs and another asking, “Doesn’t this just incentivize bots? Whoever buys first pays the least.”
“Creating fear of missing out but on the beast level. Will cause a lot of harm to the brand,” another Instagram user
wrote.
Aside from making sure the prices are kept low on the original shopping bag and letting consumers determine the price, Clemens also launched the Telfar TV initiative on the Telfar app, which debuts exclusive brand drops that makes it easier for fans to cop without dealing with pesky bots looking to resell the bags with an exceedingly high markup.
See how
Twitter‘s reacting to Telfar letting buyers determine the price of upcoming collections below.
