Thakoon opting for 'designer fashion now' business model
Fashion brand Thakoon is undergoing a serious overhaul.
Thai-American designer Thakoon Panichgul launched his first ready to wear collection in 2004 and quickly became recognised by the press, editors and stylists, as well as celebrities such as Demi Moore, Sarah Jessica Parker and Michelle Obama, for his timelessly feminine garments. But the style star had been feeling stagnant recently and has decided he wants to reposition his brand in an attempt to close the gap between what fashion retailers sell and what consumers actually desire.
Adopting a direct-to-consumer or "designer fashion now" business model, the collection will be sold exclusively on Thakoon.com, starting in early August (16), and in the company’s first physical retail store, set to open in New York by early September. Such a model is a departure from the typical fashion brand structure, which largely relies on multi-brand boutiques and department stores for distribution. The decision has been supported by Thakoon's backers, Bright Fame Fashion, the Hong Kong-based investment vehicle led by Vivian Chou, which acquired a majority stake in the brand last year (15).
Under the revamp, Thakoon will have four seasons a year, with six product drops per season, including classic prints, as well as twists on classic shirting and jersey styles the designer has made his signature. The unified line will encompass a wide range of prices.
"We will start out with an average price point of $400, $450 (£300-£340), knowing that we will continue to grow that both at the higher end and the lower end," Panichgul told Business of Fashion. "We want to have a bit more of an easy-entry price point. Like $200, $150, perhaps, but that will come with time as we gain traction and learn more from our customers."
And Chou says she's not only confident in the "very talented" Panichgul's abilities, but the whole team behind the new line, and claims the company is pulling out all of the stops to ensure its success in building a global presence.
"Just know that we are focusing our efforts in trying to build the next best American designer brand," she said.