Rapha, nice but a bit pricey?

Why not hate on both? Rapha's business model relies on low price elasticity of demand for a perceived high quality brand. I would imagine that the items are retailed with a margin that is a multiple of the variable and fixed cost of the item.

Your rationalisation spiel very noticeably omits marketing as a cost. My guess it that this cost dwarves all others.

Paying just enough to cover the wages of the struggling artisans and artists that create the jacket this is not.

I mentioned branding and promotion. Marketing goes without saying, sure. For most brands - brands that mass produce - marketing is unquestionably the biggest cost. If not, they're doing it wrong. And I'm sure it has cost Rapha (in one way or another) quite a lot in return for the marketing boost the Sky tie-up will give them. And those items will have a nice tasty margin on them for sure, because of where and how they're manufactured and the economies of scale. This jacket: no way. This is a halo item. Christopher Raeburn is pretty 'happening' right now and it's a way for Rapha to be seen to stay at the cutting edge.

It's also an interesting collaboration with someone who has a connection to the company - it's no surprise they keep collaborating with Paul Smith and Timothy Everest, for example. I'm sure they see these collaborations as part of the brand. It keeps it a bit special.

I don't think it's anovver Rapha rip-off. Check out some of the prices of equivalent gear on Mr Porter (or what Mssrs Smith and Everest charge for their wares) if you think £300 for a designer jacket made in the UK is excessive.