Jimmy Choo launches line for main street

Jimmy Choo is that latest luxury retailer to launch a more affordable line in hopes of boosting sales hit hard by the recession.

Choo, renowned for shoes and handbags ranging in the thousands of dollars, will produce footwear and clothing for the Sweden-based international clothing chain H&M, starting Nov. 14.

The company heralded its change in strategy, saying "the brand's glamorous world will be available to all."

The Jimmy Choo brand will be sold in about 200 H&M outlets worldwide, including four in Canada.

Other high-end designers have already made the retail plunge. Anna Sui has launched a clothing line for Target in the U.S., Vera Wang has entered into a partnership with another American chain, Kohl's, and taking a slightly different retail route, Narciso Rodriguez has plans to sell a line of his clothing exclusively on eBay.

The world of haute couture has been dabbling in the lower end for years: witness Ralph Lauren, Donna Karan and Calvin Klein. But many more have launched secondary lines recently.

Earlier this month, Coach Inc., based in New York, credited its cheaper Poppy collection of handbags for helping to boost sales.

The luxury industry has been hit hard in this recession because the top income earners have pulled back in spending. Luxury department store sales are down 25 to 30 per cent on average from their peak in early 2008, according to analysts.

And a September survey by the New York-based Luxury Institute found that just over half of wealthy consumers were spending more on essentials than on what they wanted.

The Luxury Institute is a ratings and research organization that focuses on the high net-worth consumer.