BR, I Love You, But…
We all know I’m a jewelry hound. While I have several places I love for investment pieces, I’ve always been a fan of places like Kenneth Cole or Banana Republic for on-trend costume jewelry to keep things up to date. A recent look through Banana Republic’s website, however, has made me wonder about where they’re trying to go with their jewelry and accessories lines.
After seeing a necklace I liked in Lucky, I perused their jewelry holdings this week. As I expected, they have several very wearable pieces, most of which are offered at a price that’s reasonable for what they are. Their 51″ framed jewel chain necklace at $45, fine. Their glam bib necklace in smoke gray at $69, fine. It was this piece that really jarred me:
Banana Republic, $198.00.
Don’t get me wrong, I like this necklace a lot. So much so, in fact that I considered buying it… until I saw the price. $198? Really?
That strikes me as a mismatch with the rest of Banana Republic’s goods. At least half of my work slacks come from Banana Republic, so I’m not by any means trashing the store. But frankly, you can get many if not most of their suits, jacket and pants or skirt, for only slightly more than they’re asking for this necklace. Even their high end “BR Monogram” dresses (also introduced relatively recently) cost less.
In light of the rest of their holdings, I’m really puzzled by their decision to charge so much for this necklace, particularly in the current economy. Why would I buy mass market resin from a place like Banana Republic for an amount that could very readily buy something less trend-driven from somewhere like Fragments? Is anyone really spending $200 on resin that doesn’t come from Alexis Bittar right now? I don’t mind sinking some money into jewelry, but this is not the kind of piece that seems worth an investment. Banana Republic is a place that I’d expect to buy fashion costume jewelry to spice up the outfits they sell a little pizzazz, an enameled cuff or maybe a rhinestone cocktail ring. It’s not where I’m going to spend my serious jewelry dollars, particularly not on something that is likely to go out of fashion in a season or two.
All I can give this is a shrug, I guess. Everyone’s watching the stores to see how the retail sector handles the slowing economy — it’ll be interesting to see whether Banana Republic continues to aim for this price point as time goes on. In the mean time, I may pick up that smoke gray necklace, but I think I’ll save my three-figure dollars for my next romp through the online aisles of Twist.
