Telfar may have a game-changing pricing system on its hands.
On March 21, the popular bag brand announced that it will hold a live price sale, where it’s “a sale in reverse,” according to its website.
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For the first time ever, Telfar will allow customers to choose the prices.
See the guidelines below:
The collection drops at the wholesale price (more than 50% off).
The price goes up every second — until it reaches full price
Whatever price it sells out at — basically becomes the price forever
You Decide The Price: the more you want it — the lower the price
The reverse sale’s intention is to disrupt the ideas of supply and demand and scarcity and value.
“WARNING: TELFAR LIVE is a total reversal of the markdown sale structure of the fashion industry: TELFAR LIVE is literally a sale in reverse,” the website writes. “Using TELFAR LIVE may disrupt both preconceived notions of value & scarcity and supply & demand. TELFAR LIVE provides an economic model that corresponds to the nature of black cultural invention — in a market where black culture moves all culture — but black people don’t own their shit. TELFAR LIVE cannot be taken with Black Capitalist Wolf Tickets and is not a replacement for real political struggle.”
Ultimately, the goal at hand is to increase affordability in order for Telfar to be able to make more of its products instead of making them more expensive due to its popularity.
The inaugural Telfar Live Price will launch on March 27 at 12:00 p.m. EST. Then, new product releases are set to roll out weekly until April 24.
Accessibility continues to be at the core of Telfar’s releases. As previously reported by AfroTech, the company partnered with a Rainbow store in Brooklyn, NY for one day only. On a first-come first serve basis, people were able to snag Telfar’s popular “Shopping Bag” in all sizes and colors.