Luxury brands are not a mere trend, rather a lifestyle due to the over-expensive items. Where the argument is that quality and durability cost money, many people are seen to be more interested in the brand image it provides them with. Brands are indeed selling an image to people who can afford the lifestyle rather than an item with quality that is worth its monetary value. However, we do often see high-end brands delivering full value for the money in long-lasting and quality clothing, for example, the Louis Vuitton varsity jacket. While there is no straight answer to this argument, we will try to get to the bottom of it in this blog by discussing whether high-end clothing is a smart buy or not.
What is Luxury Fashion?
Luxury fashion is simply accessories and clothing that give one a feeling of being exclusive, as these designs are limited and accessible to only a certain category of people who can afford them. Usually, luxury clothing is defined to be unique, made with high-quality materials and expert tailoring, hence justifying its high prices. However, that’s not always the case now. Many brands have established a name and reputation that identifies them as luxury brands, and whatever they sell at obnoxious prices is considered as luxury, as they are rare due to having only a certain target consumers.
Is Luxury Fashion a Smart Buy or a Waste of Money?
From hearing about luxury fashion, we normally just think of random, overpriced clothes and bags, or jewelry. But when you actually take a closer look at this realm of fashion, you understand that each and every piece of clothing and accessory has a name and a story, which makes them valuable. Iconic pieces are not just bought once and forgotten about; they are talked about for years, and people who were not able to buy them still look to purchase them from their first owners.
Is it a smart purchase or not is still very unclear right now, so let’s discuss more on the reasons why it may be considered a smart buy:
Luxury Items as Investment
Luxury items being bought as investments is not a new practice. The term luxury has been in the world of fashion since ancient Egyptian times. It picked up pace after the 18th century, and the limited pieces that only people who could afford them at the time would sell for a higher price to someone else due to the demand. This made designer bags and watches mainly as part of investment because of their continuously growing demand. High-end designers would craft unique pieces in only a few numbers to maintain their brand identity and exclusiveness. Brands like Hermes, Chanel, and a few more have a rigorous process for their buyers to even buy their luxurious, limited pieces. This is why many people consider it a smart buy because of their growing demand.
Quality and Loyalty of Customers
These high-end luxury items are popular for purchase due to being crafted from high-quality materials such as real leather, crocodile skin, and other exotic fabric choices. This craftsmanship guaranteed the product’s durability to last long, so one had to make fewer replacements or face any disappointments. Furthermore, people have identified these brands as lifestyle, and to maintain their reputation in society, people are drawn to brand loyalty and keeping their status symbol.
While there have been brands serving the same dedication to their craft and customer satisfaction, many brands are emerging with unnecessarily high prices just to identify themselves as luxury brands, but don’t offer the same essence as the already established brands. Here’s why purchasing luxury branded items may be labeled as a waste of money:
Potential Dangers of Luxury Items
The price tags already cause a divide within society when it becomes apparent who can and who cannot afford these items. This difference has already had an impact on individuals who become victims of status differences in their daily lives. For example, one carrying a Gucci bag would be treated differently by the store employees or hotel management than a person who’s not. Apart from class differences, these luxury items are made at the cost of exotic animals and natural resources, which raises concerns about sustainability and animal endangerment. The main concern is that these brands would not stop their production because how else are they going to make a business when the main element of those bags is replaced?
Debt and Alternatives
While brands are cashing their name, many other brands are emerging in the market that are offering the same quality at more reasonable prices. Many manufacturers have successfully duplicated the high-end products that their first copies are even hard to tell apart from the original’s brand officials. These duplicates are sold in much larger quantities, unlike the originals, meaning everyone has access to them, and it diminishes the exclusivity of the original. Customers who run after the status symbol would just buy the alternatives to show up in society as an upper class, and not even bother to buy the real deal. Those who do crave originality but are restricted by their funds often get carried away to spend their loans and credit on items, and if the item fails to grow in demand, they fall into the great despair of debts.
Conclusion
Just as these luxury apparel and accessories have caused a divide in society, so is the argument. Each side offers the same weight of opinion, which has led to much confusion in deciding a conclusion. Where luxury items are endangering people’s financial position and exotic animals, it’s also contributing to the economy and personal investments for women, especially greatly. Where brands are selling cheap quality at high prices, we still have honest brands offering durable quality like Ferrari Marlboro jackets, and Gucci leather bags that are deemed to be good investments as they last long enough to be available for resell.
F&F