Investment Pieces – Myth or Reality?

So many times in my life working in retail, as an image consultant or stylist, and as a consumer myself, I’ve heard a version of this sales proposition: “You should buy it. It’s an investment piece.” Sometimes the assertion turned out to be right: The suit, dress, jacket, or other piece became a go-to item. There was a striped sleeveless jacket that fit this description, a pair of black-patent shoes, and a few colorful coats—one russet, the other rose—that definitely went an extra several miles on my body.

Yet sometimes it quickly became clear that the statement did not apply. The fabric would pill (so the value of the piece was overstated, given that "investment pieces" are usually pricey); I’d go to a new workplace that was super-casual (so I’d look completely out of place in a suit and could only wear the jacket); or my alterations person would go AWOL for several months (this has happened to me three times; now I make sure to follow up with alterations people within 5 days of a fitting)—as happened with a gorgeous navy suit I bought at Yvonne LaFleur in New Orleans. (She has a great alterations staff, but I live in DC and didn’t have time for a fitting before my return flight.)

So what do I think about “investment pieces”? They are in the eye of the beholder, and the investment might not pan out so well if your life changes.

Now what do I do to prevent this from happening?

• Most important along with the reputation of the retailer, I consider the quality/price ratio of the item and my knowledge of and experience with different fabrics and sewing.
• For cocktail and gala dresses, I use Rent-the-Runway and secondhand stores—unless the person or event calls for a one-of-a-kind, standout piece that cannot be a repeat.
• I buy suits that I intend to wear or style as separates and only clean them at the same time; this keeps the colors of all the pieces consistent.
• I call alterations people frequently, as stated, or do my best to get the tailoring done at the store where I buy the item—since the store would have to ensure that the piece is completed, even if the original fitter has to go on extended leave.
• I also ask myself, how I can transfer the item to another level of formality? Could I or my client wear this with jeans? I ask. If the answer is “yes” and I (or my clients) love the piece, then I usually go for it.
• Typically I recommend that new purchases go with at least three things in the client’s closet—beginning with jeans. And denim can count for more than one piece, because it can come in many forms—long jeans, cropped jeans, or a skirt, for instance. Ditto for things that work with black.

Next time someone tells you, “Buy it; it’s an investment,” consider the factors above. Investment pieces demand scrutiny, because you are spending your well-earned money on them. Make sure your ROI is high—that you can wear the pieces on a variety of occasions and at different levels of formality. A flexible, elegant, workhorse-of-an-item is a rare and valuable possession.