TOKYO — Bally is cutting the retail prices of its fall-winter collection in Japan by 25 to 30 percent, underscoring the weakness of the luxury goods market here.
“We would like to up our competitiveness as a luxury brand by reviewing closely the pricing policy and the location of our stores,” Bally International chief executive officer Marco Franchini said in an interview. “Japan is still a big market and there is growing room for us. We would like to appeal again to Japanese clients as a luxury brand so that we can compete with brands such as Gucci.”
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"