The Secrets to Scoring Serious Deals on Luxury Goods from Coach, Kate Spade, Lululemon and More Right Now
If you’ve got some extra money, now may be the time to buy that statement piece you’ve always dreamed of.
With stores shuttered for months, many designer brands and high-end retailers are struggling under the weight of excess inventory and excessive rent. What does that mean for consumers? Sales. Big sales. Even from names that don’t often discount.
In other words, if you’re lucky enough to still be earning a solid income, this is a good time to get a deal on high-end clothes, bags, shoes, luggage and beauty products, experts say. And plenty of consumers are doing just that. “We have seen a 25% increase in search results regarding coupons and discounts for luxury and high-end retailers like Coach, Off-White, Yves Saint Laurent and others,” says Tiara Rea-Palmer, head of partnerships for deals site CouponFollow.com.
Here’s what you need to know about where to shop and how to smartly shop luxury goods’ sales right now.
Why are there so many deals on luxury goods right now?
Several stores including Neiman Marcus and J. Crew filed for bankruptcy this year, which could mean that consumers see large discounts on the goods these spots offer.
Other retailers face a different issue, as stores were shut for months and consumers tightened their purse strings: “There’s an influx of merchandise that these brands need to move off shelves to make room for new arrivals and upcoming seasonal products,” says consumer-savings expert Andrea Woroch. That influx has led to “big sales in order to motivate consumers to shop.”
Are the sales worth it?
For the most part, yes. Regina Conway, a consumer expert for coupon site slickdeals.net,* noted that they have seen a number of noteworthy sales on luxury-retailer sites. “Saks Fifth Avenue, for example, recently had a sale of up to 60% off designer brands, with more than 16,000 items discounted.” She noted that Nordstrom, which has its big Anniversary Sale in August, has had early and significant sales on items that aren’t normally discounted.
What items have the biggest discounts?
Look for travel goods to be deeply discounted, as travel is mostly halted, says Beth Goldstein, an accessories and footwear analyst for research firm The NPD Group. “Luggage sales declined 70% in May, according to NPD’s Retail Tracking Service, so there are deals to be had.”
Look for deep discounts on seasonal fashion, too, says Goldstein, who explains that everything from clothes to shoes to bags took a big hit during the pandemic, which means retailers have a lot of spring inventory to clear out. Woroch has also seen widespread sales on luxury beauty brands, like Nars and YSL Beauty.
Where do I find the deals?
Often, it’s pretty easy, says Woroch, citing Ray-Ban’s markdowns right on the homepage as an example: “Typically, retailers promote their latest styles on their homepage and direct consumers to sales in a different tab,” she says. “They are clearly taking a different approach as they want to capture shoppers and land a sale right from the get-go.” Deal aggregator sites are another good bet, experts say.
Here are five of the best deals happening right now, experts told Millie:
1) Coach: Through August 1, get 50% off sale items and get free shipping with code FREESHIP.
2) Falconeri: Get 50% off select styles from July 3 through July 31.
3) G/FORE: Save 50% off select styles from July 12 through August 3.
4) Kate Spade New York: Save up to 75% and get free shipping through August 2.
5) Kiehl’s: During the Friends & Family sale, which expires July 31, get 20% off any purchase if you’re a registered Kiehl’s Rewards member.
*The author of this article is a freelance paid partner of slickdeals.net.