Today we launched our newest collection, in an entirely new style, material and price range, the Elastic Loop. It is a slight departure from our regular products, price range and customer group, and we wanted to explain the thought process behind releasing this collection. First, let's talk about the Elastic Loop itself.
Elastic Loops - Soft, Stretchy, No Hardware, for all day comfort!
These Elastic Loops are meant as a fun strap option that won't break the bank. We've always wanted straps made of this elastic nylon material, just because of how soft, stretchy, breathable and comfortable they are. But most of them on the market are made in the MN-style - with that big chunky hardware that provides for greater adjustability at the expense of bulk. Instead of making those exact same straps that's already on the market, we wanted to make something a little bit different.
These straps are made in a fixed length with no adjustability (except for the stretch of the elastic). While that does make sizing a little tricky, it also means that the strap has zero hardware. Once you get the right size, these straps are extremely comfortable and you won't even notice that you have it on the wrist. Find out what size you should get.
If you haven't tried these elastic nylon straps before, you really should! It weighs close to nothing, yet provides a very snug fit with its highly elastic material. Highly breathable for all day and all condition comfort. Comes in a wide range of colour that allows you to get creative and try out some fun combos.
Note: Our Elastic Loops come with quick release spring bar for easy installation.
So why did we decide to produce and launch this collection?
We did put quite a bit of thought into making this decision, and had discussions both internally and with our existing customers about whether we should release this collection. Not everyone was 100% convinced, but we still went ahead to release this. Let me explain:
The main concern behind releasing this collection is that it is a departure from what Delugs is known for in the community and what our existing customer are used to seeing from Delugs, in terms of a unique high quality product, and price point.
Delugs started out by producing handcrafted leather straps at a price point starting at US$80, and that is what we are primarily known for. Our core product won't change, at least in the foreseeable future. We are still committed to providing high quality leather straps to the community.
But as we grew, we've expanded our value proposition and range of products, and we want to provide high quality, fairly priced accessories to the community. This includes our range of Watch Storage & Accessories, and also Leather Goods. We also refined our Brand Values accordingly - Customer First, Quality Products, Fair Prices, Always Improving.
As we launched teasers of the Elastic Loop, it became clear that a large number of you were interested in a strap like this. There is nothing like this on the market today for regular watches (as far as I know, only Apple Watch has something similar). And as I wore and tested the strap myself, it was also clear that this strap was incredibly comfortable, and was a product that I could personally stand behind.
On pricing, these straps are indeed a significant departure from the price range of our leather straps (regular price of US$20 vs US$80). We've priced it at US$20 because we think that that is a fair price based on our costs, what similar products on the market are priced at, and the value that we think this strap will bring. We could definitely have priced it higher, closer in line with what our existing customers are used to paying, since no one else is selling this style of straps. But at a certain point, we don't think that it would be a fair price anymore.
Evaluating this release across our 4 Brand Values:
- Customer First - It was clear that a large number of you were looking for a strap like this, and the initial sales number back that up.
- Quality Products - This is a unique product on the market that the other strap brands do not offer. While this strap is not handcrafted in the same way that our leather straps are, it is still a very comfortable (and beautiful) strap to put on.
- Fair Prices - We are able to price it where it makes sense both for you and for us (taking into account the cost of producing and also other hidden costs like shipping, fulfilment, marketing etc).
- Always Improving - Releasing this collection is something new and different for us. Whether it is an improvement - time will tell!
In the end, we decided that it was something worth putting a little bit of investment into trying. If it doesn't pan out as expected, at least we know and we learn what you guys expect from Delugs, and how we should proceed as a brand.