Finollo, Genova

[TimMureau]

Who is familiar with them?
I become some ties from Finollo and i am very pleased with them. They do also bespoke ties! And of course bespoke shirts, the bespoke shirts from them are one of the best one's from Italy.

address:
Via Roma 38
Genova

[tteplitzmd]

The only thing I know is that they are prohibitively expensive for the bespoke shirts.

[TimMureau]

Yes, the bespoke shirts are expensive.
But I have only tried the ties... I go soon back to Genova and than I would like to trie a bespoke tie from Finollo. They have very beautiful silk fabrics for the ties!

[SilkCity]

The ties come out a little thin.
The shirts are frighteningly priced.
The store--and Luca the salesperson--is sublime!

[tteplitzmd]

Is there any basis for the very, very, high pricing: ?Manhatten overhead, Italian labor costs, numerous middlemen, only very expensive cloths? Genoa is not exactly "accessible" to most of us. I just can't understand the economic laws applicable to support the pricing.

[Costi]

I just can't understand the economic laws applicable to support the pricing.

If Finollo decided one day that there is really no actual basis for their prices and decided to cut them by 30%, they would surely lose most of their clients.
It is the different level of service that explains their pricing, as in any luxury business. Their pricing is a means of selecting their clientelle. It is as much a deterrent for a certain segment of those who would like to wear their shirts as it is an attraction (it is not a paradox, it is a well established marketing law) for those who actually patronize them. The only possible paradox is that the Genovese don't really have a reputation for being big spenders (I hope I am not offending anyone, it's just folklore). Genova is after all a busy port and a relatively rich city. Rest assured that there are plenty of wealthy people in Italy to patronize Finollo, or they would have gone out of business long ago. People who would pay almost anything to avoid running into their newly employed sales assistant as they get fitted by their shirtmaker (IF they should decide to visit the shirtmaker's shop for that, rather than schedule an appointment at home).

[tteplitzmd]

I think the paradox is that high priced luxury goods are usually seen in mutli-national, conglomerate, RTW "brands," not in bespoke makers with relatively lower overhead.

The idea that more reasonable pricing would encourage the "riff raff" is only a self serving excuse for the high pricing. You are correct, and I speak with some peripheral authority, that astronomical pricing is an effective marketing technique for a segment of the human race.
But only a segment.

Often the service in the higher priced "brands" is really not as good in smaller mom and pop operations. Yes, you won't run into your assistant getting fitted there, but if that is an issue for you, there's a good chance your assistant will get your job over time.

Over the top pricing, in my opinion, caters to, or exploits, the insecurities of that sector of the population. In the words of the sage, Sheldon Harnick: "If you're rich they think you really know..."

[SilkCity]

Yes, the bespoke shirts are expensive.
But I have only tried the ties... I go soon back to Genova
Be sure to visit Ristorante Europa in the Galleria across from Finollo-you may need to
recover from the shirt prices, and that is a good spot to do so with some very fine
pesto!

and than I would like to trie a bespoke tie from Finollo. They have very beautiful silk fabrics for the ties!

[Costi]

Over the top pricing, in my opinion, caters to, or exploits, the insecurities of that sector of the population.

Of course that's what it does - and quite effectively, too, since such a business' income depends less on the product (which might stop being appreciated at a certain point) and is largely based on human nature's inexhaustible faults (as you named them). These faults generate needs, and certain companies know just how to address them (quite lucratively, too). Cynical as it sounds, it is an ideal situation for a business. A product may go out of fashion or be surpassed by that of the competition, but what is the chance human nature might suddenly be healed of all its shortcomings and drive these people out of business?...

astronomical pricing is an effective marketing technique for a segment of the human race.
But only a segment.

A segment just thick enough and wealthy enough for a business to rely on it. The other segments don't matter in the economy of the operation.

Yes, you won't run into your assistant getting fitted there, but if that is an issue for you, there's a good chance your assistant will get your job over time.

...indeed - unless you are the owner of the business

The idea that more reasonable pricing would encourage the "riff raff" is only a self serving excuse for the high pricing.

I think they are less concerned with the fact that lower prices might attract more (and more heterogenous) customers; the thing is that lower pricing itself would drive many of their current customers away from a poduct and a "company" (other customers) no longer "exclusive". Besides, it does take quite a different approach and internal organization to catter to this "exclusive" segment of customers, than selling the same product to other market segments. They are simply organized for this, and their product is just an element (not the most important, but deffinitely of the best quality that leaves no room for complaints) of the complex means necessary to address those psychological needs. It is terrible that marketing is what it is today, creating false needs and then (sometimes in a perverse manner) addressing them for a profit, but it is nonetheless a reality to which the non-discerning fall easy prey. It is by no means a new scheme, but its contemporary difusion is turning it into a worrying mass proportion phenomenon.
The fact remains, however, that Finollo & co. (in other fields of interest) offer an excellent product which, if one thinks can be found somewhere else for less money, one is free to not buy. It's not like asking a huge price from a dying man for a glass of water in the middle of the Sahara, but rather like those gentlemen who ask a small fortune for a tiny bottle of water produced by melting 5000 years old ice from the core of a glaciar at the North Pole...

[tteplitzmd]

I think you are correct about the merchant exploiting the niche. I am of the mind that many luxury goods merchants, especially the small ones, sometimes make a calculation about what they want, in terms of annual income, and simply price according to that total pie sliced up. That is, as long as they complete the whole pie, so be it. A spin off of this theory is that I think the merchant is sometimes not motivated to take in new work or customers---certainly not to discount the goods to a potential new or otherwise attractive customer. That would "cheapen the brand" I have been told.

Your posting reminded me of something: years ago I was in Rome and bought some ties at Battistoni. It took some work on my part to get someone to acknowledge me and take my money. At the conclusion of the transaction I told the merchant that in my country it was customary to thank the cusotmer at the conclusion of the transaction. Needless to say, as my means increased over the years, I have not gone back to this merchant for bespoke goods.

[Costi]

the merchant is sometimes not motivated to take in new work or customers---certainly not to discount the goods to a potential new or otherwise attractive customer. That would "cheapen the brand" I have been told.

Unlike perishable, seasonal or fashion items which are heavily discounted every now and then in order to make them available to those who cannot afford the full price (and therefore increase popularity) as well as make room for new stocks, luxury goods are considered timeless and are therefore hardly ever discounted. You cannot go to Ferrari to buy the most expensive model and ask for a discount, because you simply won't get it.
They will keep an article in the shelf until someone buys it at full price, rather than discount it, because sooner or later it wil find its buyer. This also assures that, if you wear a Finollo shirt, you must have paid that price, whereas an Armani jacket can be purchased even with a 50% discount if it is out of season and out of fashion. Back to the psychological resorts...
Also consider the fact that certain goods simply cannot be produced at a given quality on a larger scale and, if the demand is high enough, a high price is the only element that can even it out with a limited supply. There is absolutely no reason why they should offer discounts and buying incentives, when they already have a long waiting list and they can hardly cope with their current demand.
What you encountered at Battistoni, however, is poor service and THAT is what really cheapens a brand. You can buy beautiful ties in many places, but at Battistoni you are entitled to expect excellent SERVICE for the price you pay and you did well never to return there. I am familiar and agree with your principle of never buying luxury goods from someone who knows about them less than you do, and lack of courtesy and consideration for any client tells you immediately that the person has no idea what their business is about.

[tteplitzmd]

The discussion brings to mind a variation on the Battistoni experience: I paid top dollar at two well known and well regarded bespoke tailors. Each was capable, I think, of doing the job, but both substantially deviated from what I wanted. I am convinced that these two high end merchant tailors simply can pick and choose more compliant customers. The work I required evidently deviated too much from what they usually do, and they "bluffed" at my expense, hoping I wouldn't know or care about the deviation. The only thing they had to lose was repeat business, and I think they have more than enough to do without me.

There is another variant, an old world merchant living off its reputation. I have seen this in London with bespoke tailors offering shirtmaking that is really not bespoke. The psychology of the marketing to affluent customers is fascinating. I collect a certain kind of antique rug, and once in NYC I saw something rolled up, possibly of interest. It was difficult to get the salesman to move, since they didn't know me or the knowledge I have in this area. I finally asked: "Do you want to show rugs or keep them in inventory?" That got a response, but they had to think about it. You can be sure, that if you are a regular buyer at your local Ferrari dealer, you will get some consideration, they have competitors too.