Why does this pair of pants cost $550?

NY Times details Band of Outsiders‘ pricing on a pair of chinos:

The final price reflects the markups of the designer and the retailer, what they charge to cover expenses, pay their employees and, with luck, make a profit on what sells to cover the losses on what does not. Mr. Sternberg doubles the cost to arrive at a wholesale price of $220. The retailer adds another markup, typically a factor of 2.5, which brings us to $550.

An obvious “no shit” revelation here. When you’re looking for something that has solid construction and a great fit, you might have to buckle down and drop a bit more coin than you normally would. I know that’s how I feel about some of the jeans and button-up shirts I wear, but this is a very subjective issue that varies due to personal style, taste, and body type.

Then again, retail was up 1.2% in March and steadily on the rise — designers who charge a ton of money for their clothes might not as crazy as they’re made out to be.