Italist is leveraging a smart strategy that combines seasonal sales with carefully chosen pieces to capitalize on the growing American passion for Italian luxury clothes.
Italist intends to take advantage of the desire for upscale Italian goods by entering the American market and providing a more approachable entry point for customers who are looking for both quality and value in their luxury purchases. According to Pymnts, this move illustrates Italist's intention to immediately incorporate Milan's renowned fashion into high-end American wardrobes, revolutionizing the way Italian luxury is seen domestically.
The core of Italist's approach is a distinctive price structure that takes use of Italian retail's seasonal inventory. The platform is able to provide luxury fashion items at a 30% to 40% reduction in price compared to regular retail rates because to this methodology.
In an interview with PYMNTS CEO Karen Webster, CEO Diego Abba of Italist stated, "We were able to offer new trends before everybody else."
Italist distinguishes itself from traditional luxury boutiques by offering premium, modern apparel at affordable prices, drawing in discerning clients who seek both exclusivity and affordability.
Italist's operations heavily rely on curated choices. Underscoring the platform's stringent brand curation guidelines, Abba added, "There's a certain curation from our side as well." Italist provides a wide variety of brands, in contrast to rivals that enter into exclusive agreements with shops. With this strategy, the platform may offer a wide selection of luxury products.
Italist maintains control over price and inventory as a merchant of record, which enhances the smooth purchasing experience. "We have complete control over everything, including pricing and inventory," Abba said, highlighting how crucial this control is to providing a dependable client experience.
Italist stands out as a competitor in a field dominated by well-known brands like Chanel and Hermes thanks to its business methods. Because of their unique distribution channels, Abba noted that "Chanel and Hermes continue to post sales growth," demonstrating the brands' continued strength. He admitted that their ongoing attractiveness is greatly influenced by their exclusivity.
In addition, Abba shared his opinions on the larger luxury business and showed admiration for the skill of former designers such as Versace and Armani. He remarked, "They were all really great at really cutting the dresses." He contrasted his admiration for Valentino's future approach with Gucci's 70s-inspired aesthetic.