US based fashion chain Steve & Barry’s sell clothing at prices even Primark may struggle to compete with. The most expensive items at Steve & Barry’s shops cost $8.98 (about £5), and the store’s clothing lines are designed by the likes of Stephon Marbury and Sarah Jessica Parker, rivaling similar collaborations at H&M.
So how do Steve & Barry’s make the things so cheap well one of the reasons was covered in a recent article in the New York times highligting progressive business practices; their profit margin is extremely thin; office furniture is comprised of hand-me-downs and Salvation Army finds.
On top of that, the company maintains only a tiny PR office, and doesn’t spend money on advertising or marketing at all. All of this translates to a new business model and, in the end, savings for the shopper.
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