D23 Expo: Loungefly Discusses Price Points & Popularity of Their Bags
Our D23 Expo Loungefly Interview continues as we discuss the interesting price point of these bags. If you are a collector or Disney fan, then you have at least seen these bags, and they are not cheap. We are talking $80 for a bag that does to hold much, but it truly loaded out with detail and quality. This brand has really blown up in the past couple of years, and with plenty of other companies increasing prices, it is curious to see as to why. In this interview, we talk to two incredible creative minds at Loungefly Derrick Baca (Senior Vice President of Creative Innovation and Vision) and Liz DeSilvia (Vice President of Creative). These two know exactly where the brand is going, and they can hear the fans and listen to what they are asking for.
So what was that like, going from designing apparel to trying to design the bags?
Liz – "It was super fun! I'll tell you from being my whole career in apparel design, going into bags. One, Loungefly bags are a. higher price point; they have a lot of detail. So I went from doing more fast fashion for Forever 21, Macy's, Target, where you're always having to take the stuff away because of the price, to Loungefly where the community and the customers appreciate and want those details and they want a better quality bag. So for me as a designer, not having to always take away, but being able to add value to those products and see people get excited about it, for me, that was the best part. And I think we picked up bags pretty quickly."
Derrick – "We actually said, you know what? I think our customers will pay more because it's worth more, and you put more embroideries and more appliqués. And so when we're like a $50 to $60 brand, and now it's more like an $80 to 100, but you're getting the quality in it. We're not getting a lot of pushback from fans."
Liz – "But we have to make sure that we're not just raising prices. Like, we're raising it for a reason, all the details. Yes, we're putting details in. You're getting better straps; you're getting the lining, you're getting everything. And also a lot of innovations, light-up bags, glow-in-the-dark bags, moving bags, lenticular bags, all the things."
So the price point kind of can be kind of a barrier for entry for some people, especially when it comes to you buy your first Loungefly, and then you want more and you want more. How do you go about trying to bring in those fans that are kind of having a hard time with the price point?
Derrick – "We go to our retail partners as well, like Hot Topics or let's say FYE, they have a kind of a threshold of price point. So then we will have a $50 offering, a $45 to $50 offering in their store."
Liz – "Yeah, Hot Topic is great for Disney fans; it's a great place to find that slightly lower quality, but still amazing art, amazing design, at, like, more of that entry-level price."
Derrick -" You can tell there's a polyurethane faux leather plaque versus the metal plaque. So the metal plaque is used at the higher end, and the faux leather plaque is kind of like the entry price point."
Liz – "Then we also are developing some new crossbody styles and some different things that are a little bit lower price point for that new fan. We also have some amazing wallets, some that now function more like a clutch with a wrist. So we definitely do have ways to participate in the brand. Also, pins are a huge category for us, and some of the pins are next level, so you can participate that way as well."
Derrick – "So Disney's wrote the script on pins, they just have. I've been collecting since I was little, so it's always been this pinnacle thing. So that's the standard, and I've always wanted to make sure on our collectible pins, whether they're blind box bins or they're three-inch collector box pins, that we have movement or lenticular some sort of surprise and delight to it to be able to I mean, obviously it's ours retail at 20, and there's going to be much more because it's a Disney pin."
When it comes to a collectible like a Loungefly bag, you can actually see the quality that is put into it. It is pretty awesome that there are cheaper options out there, and places like Hot Topic and BoxLunch love their Hot Cash and Lunch Money deals. These bags are more tax just gimmicks; it is a way to explore your style in a fun and unique way in any setting you are in. I do love their more interactive bags with glow-in-the-dark features and the moving parts. Collectors can jump in on all things Loungefly right here and there are plenty of bags to choose from.