The idea is that the shop offers only a basic version of an item. So instead of having all color/heraldic/visor/etc. variations readily available for buying they can be unlocked by using loompoints.
Could you please elaborate on this?
For example you buy a generic coat of mail, then later decide if you want to wear a tunic over it, or a tabard, robe, cloak, etc? Or you buy a bascinet then later add a visor if you want? It would actually be really cool if stat changes were tied to visual changes, like adding a visor in the latter example would increase the weight, repair cost and armor rating. It would be a lot more realistic, too.
Also, will there be body variables in character creation like height, weight, proportions, etc, or will it only be sex and hair/face like it is now?