New York—These days, Pinny Rand, president of Magid Accessories, and his brothers have let their business go to their heads—or rather, their business is going to the heads of thousands of consumers with the addition of hair accessories.
Founded in 1916, Magid, a division of Y&S Handbags, is best known for its moderate handbags, a leading resource for department and specialty stores.
Three years ago the company expanded its well known straws and wovens into hats. Earlier this year, Magid expanded further into headwear with a collection of hairgoods that include headbands, clips and fascinators.
“When we added hats, my sales reps thought I was crazy,” recalls Rand, reminiscing this week amid putting the final touches on the firm’s new hair accessories showroom adjoining its handbag and hat showrooms on the seventh floor at 320 Fifth Ave.
More like “crazy like a fox” since Magid’s hair accessory and fascinator business “has taken off and become such a key category in our business.”
The bookings have been exceptional and the weekly sell-throughs have reached double digits with some of our stores, he adds.
A Fascination for Fascinators
Magid’s fledgling business also got a boost thanks to the “Kate Middleton” effect. Since the Duke and Duchess of Cambridge’s nuptials, consumers have developed a fascination with fascinators. CNN reported that Google has seen the search for the fascinator hair dressing up 50% since January.
The fascinators are popping up at cocktail parties and other events, too. “It is not just a wedding accessory,” says Dan Rentillo, design director for David’s Bridal, which is the nation’s largest seller of bridal gowns and accessories.
In fact, for spring Magid expanded its fascinators and hair accessories assortments even more, many laden with feathers, bows, rosettes and other fineries designed for a myriad of occasions.
“We have styles to fit every fashion need: ones filled with feathers, shrunken top hats and delicate veils, beautiful beaded headbands, and simpler ones that can be easily transitioned from day to night,” Rand says. Suggested retails range from about $13.75 to $45.
“Due to the success of the hairgoods category and the over 30% increase in the hat business, we felt that this was the time to expand our showroom and give these programs the display space they deserve,” Rand says.
The new showroom space will also feature the company’s latest introduction, the Jessica McClintock licensed hats.
“Hats, in general, have been a vital part of the growing accessory business with the growing importance of sun protection and hats as a fashion statement,” Rand says. “We are seeing major Spring 2012 bookings in everything from fedoras to church hats.”
For further information call 212- 268-1071. www.magidhandbags.com