David's Bridal launches Quinceañera label
This is an article about portfolio company, MI Padrino.
David's Bridal aims to develop a lifetime customer and hopes that entering the Quinceañera market will be another avenue to introduce young customers to its brand. "From her Quinceañera to her prom and the day she walks down the aisle, David's Bridal will be her go-to destination for all life events," the retailer said.
There are about 525,000 Quinceañeras in the U.S. every year, according to 2019 data from Mi Padrino, with the average cost totaling over $21,000. With gowns for the event typically priced around $1,000, according to David's Bridal, it gives the retailer room to position itself at a value price point without having to compromise details, like handcrafting.
View source version on retaildive.com: https://www.retaildive.com/news/davids-bridal-launches-quinceanera-label/599142/