The nation’s largest wedding retailer is going bankrupt. David’s Bridal has slashed prices all across their stores after filing a Chapter 11 bankruptcy in 2018, making many people, especially excited brides-to-be, quite anxious.
The bankruptcy call seems to have done the company some good though, as they did manage to ease off some of their debt acquired through a private-equity buyout a few years ago.
In order to stay competitive, David’s Bridal lowered the prices of several bridesmaids’ dresses, offered free one-on-one consultations for future brides, and has also added more plus-size options for customers.
“If you look in the online space, where the bridesmaids’ business is the most competitive, you’ll find other players have … figured out how to deliver them at a lower price. To be competitive, we need to be at parity with price, and so we made those adjustments,” CEO of David’s Bridal Scott Key says in an interview with USA Today.
He continues, “We also introduced a new line of product. If you were to take the good-better-best spectrum of bridesmaids’ (dresses), we amplified the good end of the spectrum and made those available online.”
Key also mentions the company’s effort to become more visible in social media. “Think of online as the future and stores as the present. That said, the vast majority of research happens online. So between social channels like Pinterest and Instagram, that’s where the bride gets inspiration and research from.”
