I understand their need to increase prices, they've done a number of upgrades and I was expecting them to increase prices someday, however I think the amount they chose to do was a pretty over the top. A 15-20% increase seems a pretty heavy handed. I haven't bought a suit since they did all these upgrades, so I can't speak to whether it's worth it or not. I'm hoping their seasonal lines don't go through a $70 increase as well though. I can't see anyone in marketing suggesting that high of a price increase, but someone must have okay'd it. If they went up $40, for about a 10% increase, that would have seemed reasonable to me, but to hike your prices 15-20% for any product, is really messed up from a consumers perspective.
They've clearly been trying to rebrand themselves as a Premium (aka more expensive) brand, a number of their releases this year have focused on "premium" fabrics and have been geared towards people looking for a more luxurious piece of clothing.
Considering I work in marketing, I don't think our company would consider that amount of increased profit worth the loss of loyal customers, but also part of their new business model to me seemed like they would try to hook a customer in with a lower cost first suit, then once that customer gets their measurements locked in, they tend to continue buying from them because they can't find anywhere with a better fit. The entry-level suit options, which would be the lure to hook those types of customers, have now been removed.
I agree with jwhende7 that I probably wouldn't have had my wedding party use them if the prices had been at this level, either.
TL;DR I was expecting a price increase sometime soon, but think they should have kept it at a more reasonable level. I think they'll actually do more harm to their business model than good with this, but I doubt it will affect my future use of the brand unless they make these changes across all of their lines.