After launching costume jewelry, Badgley Mischka is expanding its accessories footprint with a new day bag collection under its Platinum label.
With the help of handbag licensee Franchi, the line is intended to hit stores for the spring season and is Badgley Mischka's third handbag division, along with Couture and Evening.
The Platinum Day Bag collection is expected to generate 50 percent of the brand's total sales for next year and will wholesale from $125 to $295.
Since Iconix Brand Group Inc. acquired the design house in 2004, Badgley Mischka has developed into a full lifestyle firm with 16 licenses in its portfolio, including handbags, intimate apparel and jewelry. Although the company wouldn't disclose current sales, Iconix chairman and chief executive officer Neil Cole said in 2005 that Badgley Mischka was on its way to becoming a $100 million annual business by 2009. The company said that sales in 2006 were expected to be about $30 million.
The design duo behind the label, Mark Badgley and James Mischka, will begin taking market appointments next month for the Platinum line and hope to attract retailers such as Bloomingdale's, Saks Fifth Avenue and Nordstrom.
"With this collection, our goal is to dress our customers in all aspects of their daily lifestyle," Badgley said. "This is the type of woman who works, she's a career woman, she carpools, but she's modern. She's our sportswear customer."
The collection consists of 47 styles among three categories. The casual group is a series of everyday bags in napa leather, patent leather and straw. In popping color contrasts and two-toned hardware, the attitude bags — bridging day and night — come in patent leather, fake crocodile and ostrich. The leisure bags are meant to be ideal for a day at the beach or a stroll in the city and feature napa leather and patent-trimmed cotton canvas.
With its latest launch, Badgley Mischka will continue to bring products to more women than just the red-carpet clientele who don its beaded eveningwear.
"The collection really opens up a new opportunity for us," Badgley said. "We have celebrities who carry our couture day bags, like Jessica Simpson and Teri Hatcher. But these will really broaden our brand. We really think that retailers are ready for this."Next up, the duo will begin designing home goods for spring and is eyeing men's wear down the road.