I’m not sure they’re crashing? But for me I’m just not interested as much because the prices are ridiculously expensive … I don’t value bags at these prices. I used to be willing to pay, not anymore.
My interpretation of what is luxury is quite different. For me it’s not Chanel, LV, Hermes etc. It’s well made leather goods made with craftsmanship by artisans and where the provenance of those items can be easily proven. I buy handmade leather shoes, which cost around £200 a pair, from a small company called Sabah. The shoes are made in Turkey and El Paso, TX by craftspeople who have been making leather goods for many many years, passing down the tradition through their families. The quality is outstanding, and far better than any mass produced luxury bag I’ve ever owned (and don’t anymore). I’ve just bought a gorgeous handmade leather tote bag from them too. This is what luxury means to me. So I’m just not interested in buying so-called mainstream luxury brands anymore.
Greed is the reason they're crashing. Publicly listed companies (on stock exchanges) like LVMH, HAVE to keep increasing profits to keep financial analysts and ultimately shareholders, happy. The pressure on designers to innovate and come out with something new, leads to ridiculous extremes and unwearable clothes. See the last collection of LV for that. Or look at what happened to Galliano, he crumbled under the pressure at Dior (part of the LVMH conglomerate), over-used recreational drugs and drink and careened off the stage after some ill-judged comments. He simply lost the plot. Other designers are buckling under the pressure or just are being asked to leave. Gucci imagine the problem is the designer, but it's more about being out of step with much more constrained times. They have recalibrated but it won't be enough for the greedy shareholders and this is going to bite all of them. The situation is absurd. Contrast this with unlisted and /or family run companies, or smaller operations and you get more quality and less in the way of gimmicks. It's a mess.
I don't know anyone who's looking at Chanel and LV right now; except for vintage, where the quality is much better. There are other brands that are concentrated on quality without the high price. Why spend $2200+ USD when you can get a high quality, bag anywhere from $200-$1000 USD? I'd rather have the high quality bag.
LV released the 3 toiletry pouch set for about $1,500.00 USD pretax and I got them. Upon inspection, I saw the stitching on the size 15 looks very uneven. I posted a photo on a forum and people said it looks so fake. I took the set right back to the boutique and got a refund. And made in France apparently doesn’t mean anything these days as I was told all the sets were MIF. Just tragic 🤦🏻♀️
@@MsLulu-jr4on Made by subcontractors who bought out Italian business, and mostly run by Chinese nationals. LV sets the prices and they are low paid contractors and high paying customers. something has to give.
@@deborahcurtis1385 Wow! Just wondering how you are aware of this - did you read it somewhere, or do you have connections in this industry? This is so disappointing!
@@abbycatherine8135 I saw a documentary on this, in particular about dyeing leather and treating it in Italy, the working conditions and also I know people in the area of northern Italy. The Chinese brought a lot of Covid19 into the area in 2020, and a lot of people died, including artisans who worked on the different brands. So there was a shortage of leather and artisans who are skilled. This is particularly why low quality leather and low quality stitching and skills. Chanel is probably the same, regardless of what they say, they are under the same or similar pressurese Subcontracting has been going on a long time in this industry but Covid19 has smashed the nexus between high quality and artisanal work now it's just about money and pressure. LV say it's all done in their own factories but I seriously doubt that not judging by their quality issues which at times are comically bad.
Dear Jess…Personally, I think luxury heritage brands are here to stay. Hermes, Chanel, LV and even Gucci-(not my fave)..because of all their long history…In my humble opinion will always hold appeal. I just think that these brands are having “identity crisis.” Trying to test the market and see what they can and cannot get away with, trying to maintain the classics (with ridiculous price increases) and come up with fresh ideas that will become new classics while attempting to figure out how to “still” appeal to the aspiration (bread & butter) clientele and cater to the very wealthy simultaneously. 🤔 I apologize for calling your Hermes collection boring and repetitive…..the truth is, the brand may come across that way because they stay true to and have perfected their timeless, excellent quality products. I think they are beautiful and love that you have the (overpriced) bag charms on all your bags. 😉🥰
There are many more opportunities online now to buy very very quality items. Silk and handmade wool and small Italian crafted leather bags and so on . The only thing that makes those brands valuable is the recognizable style and the logo. You can find quality even better quality elsewhere for much less.
Hi Jess, i found that LV bags and other designer bags do not keep their shape in humid places such as Japan and Hong Kong. They tend to bend and get moldy. When living in the US, my LV bags kept very well bc of less humidity.
I brought them to Sg, Thailand and Philippines last year and them being exposed in the heat of the street made them so pliable and lost its structure.. ESP the all leather ones, well even the canvases. So for a 1,500+ bags to lose their structure after a few minutes or less than 2 hours of being exposed in this unsettling weather, it makes you really think of how stupid I am to waste my hard earned money into something that would lose their beauty way too soon.
@@la4828 I understand you completely. I try to remember to check my bags after humid weather. Sometimes I forget and then wanna cry when I see and smell the mold 😪
My brother works for a big university in the UK and they regularly send technology of different sorts to humid parts of Asia with staff and students and they just do not cope. I've heard stories of the extreme mould inside devices. It's so strange that huge parts of the world are not being catered to in terms of product development.
As someone who is recovering from long term mold poisoning, this is something I never considered, and strikes even more fear in my heart 😂 My bags can get moldy?! What next? 🫠 I am currently living in Chicago, where the humid weather is more limited.
@@abbycatherine8135 I think you can still enjoy the lovely experience of owning a luxury bag though. Just be mindful and take care of it by keeping it dry.
I think we will see more retail stores collapse, however, the big luxury brands will chug along for a very long time. I cannot see Chanel, LV, Dior closing their doors any time remotely soon. They will keep evolving even if the fashion and bags become boring for a bit. They are such storied brands, that their good will amongst the public will last for years.
The people have more power than a lot of these brands think they do. I can only imagine the brainstorming that must be going behind closed doors to try and come up with new ways to lure shoppers back into their stores. Instead of doing that, it would be nice if some of them would actually come up with new and innovative designs that shoppers run to buy and that aren’t just the trendy flavour of the moment. I sure would like to be a fly on the wall in some of those boardroom meetings. The pressure from above must be incredible.
I collected handbags as well chanel lv hermes and I realize it was not worth the price or I sold about 20 handbags in the past few months and I lost money cause u will never get what u pay. So I realize it's not worth it
Thank you for your video. I see a lot of people on TH-cam talking about quality of LV bags. I have quite a few LV bags and I haven’t seen any issues at all. And they do have good customer service in my opinion. I feel that their quality is much better than Chanel. Also like that they have so many different bags and prints, ex Famier POP, denim or different damier. I’m still a fan ☺️
The Chanel CEO’s interview was a joke. I will only buy vintage Chanel. Quality is a must for me period. Ideally you get quality with designer bags but as we all know the lux game has changed and the big brands have shareholders and shareholders mean profits which lead to a degradation in quality. It’s not just the bags it’s also the textiles being used in ready-to-wear clothing. Can’t tell you how many pieces I have been interested in but when I look at the fabric content there is a lot of Polyester. I’m only looking for at least 75% natural fibers as natural fibers wear better over the long haul and are better for the environment. This is why I rarely buy fast fashion….I rather buy second hand quality pieces for the same prices as the cheaply made crap.
I think the luxe community is returning to true lovers of luxury, people who appreciate the craftsmanship and how the items enhance their personal aesthetic. Not being able to travel drove too many who don’t actually care about luxury to buy and binge unboxings. Those people are now prioritizing their spend away from luxury and toward necessities and the occasional trip to the salon, dinner out or vacation. But there are still plenty that are doing ok and have the means to buy luxury. I for one appreciate seeing people’s collections and discussing the industry with likeminded folks.
LV have set up an art gallery in Paris (the LV Foundation) so it seems like they are trying to leave a legacy which transcends luxury goods. They are also setting up a hotel in Paris, so are shifting to selling experiences instead of bags. I guess it’s harder to scrutinise the quality of an experience than a bag 😂 In France, they’ve put an extra tax on fast fashion brands to discourage people from purchasing them.
YSL had a price increase. I’m not even gonna try to sell anything because the market isn’t great. But that means there are deals on the resale market which I suspect will be the new normal for quite some time. And the premium lux brands aren’t going anywhere. My Nieman Marcus shoe salesman said when Chanel decided not to sell at NM anymore, his sales collapsed 😢
last 15 yrs I’ve collected whatever bags I’ve wished fr Chanel and Im determined to buy pre love fr now on … no more new bags , unless i strike the lottery big time 😂
Hi Jessie Likely big brand will stay. Sales may not be the same, but they will still be around. Remember they suffered losses but they survived wwii! High prices and lack of innovation is the main issue they all have in common So many new releases and the most popular bags are the new styles inspired by old collections or the classic styles. LV needs a strong creative director, im so turned off by their new designs i keep rolling my eyes. Luxury designers should keep everything “classic”, like most of Hermes designs or do something unexpected and risky to draw buyers attention in my opinion. If the economy is bad… why don’t they create a less expensive design to keep consumers happy. As a sign that luxury understands consumers. Not asking to drop the price of whatever they have out already, but maybe a 2025 collection thats more affordable, modern and represents their understanding of the current economy. And please no more quiet luxury bags 😂 Thank you for the video ❤
In elementary school, all the girls in my class wore the same jeans. And if you didn't, you were not cool. Now, I don't care what others think. I figure out what I think is cool, and that's what I wear, especially in terms of handbags. Now you can find others who like the same thing, no matter how narrow the niche!
But LVMH were up 13% , and Channel up 20% last year, Kering were down only 4%, but they were up 11% in 2022. Your conjecture isn’t really supported by facts. They are hardly struggling given we’re in the middle of a cost of living crisis.
the constant referencing of the past is embarrassing for the creative directors. its like they are consistently admitting that the past is better than their current tenure, that they cannot match or beat it
Hi Jess! I think the heritage big brands are here to stay. But, they are neither imploding or evolving. They are running around in a circle, and ending up in the same spot. Nothing is new or innovative. Chanel recycles the same old style, though iconic, collection after collection. To me, that water is stagnant. Maybe they need fresh new fearless talent at the helm. I don't know. The bottom line is that more and more people are considering their spending more carefully these days. The richest of financiers predicted this for a while, and they are the ones who regularly pinch their pennies. Literally. 🪙🪙
I’m not sure they’re crashing? But for me I’m just not interested as much because the prices are ridiculously expensive … I don’t value bags at these prices. I used to be willing to pay, not anymore.
Multiply yourself by hundreds of thousands of people and you get the idea.
My interpretation of what is luxury is quite different. For me it’s not Chanel, LV, Hermes etc. It’s well made leather goods made with craftsmanship by artisans and where the provenance of those items can be easily proven. I buy handmade leather shoes, which cost around £200 a pair, from a small company called Sabah. The shoes are made in Turkey and El Paso, TX by craftspeople who have been making leather goods for many many years, passing down the tradition through their families. The quality is outstanding, and far better than any mass produced luxury bag I’ve ever owned (and don’t anymore). I’ve just bought a gorgeous handmade leather tote bag from them too. This is what luxury means to me. So I’m just not interested in buying so-called mainstream luxury brands anymore.
I think companies run out of ideas. Hence, the latest LV collection with the animals.
I think yt luxury is just evolving, people are always going to buy, luxury, it's more about are people going to show it when it feels a bit tone deft
hmmm!! good point Jak!
Greed is the reason they're crashing. Publicly listed companies (on stock exchanges) like LVMH, HAVE to keep increasing profits to keep financial analysts and ultimately shareholders, happy. The pressure on designers to innovate and come out with something new, leads to ridiculous extremes and unwearable clothes. See the last collection of LV for that. Or look at what happened to Galliano, he crumbled under the pressure at Dior (part of the LVMH conglomerate), over-used recreational drugs and drink and careened off the stage after some ill-judged comments. He simply lost the plot.
Other designers are buckling under the pressure or just are being asked to leave. Gucci imagine the problem is the designer, but it's more about being out of step with much more constrained times. They have recalibrated but it won't be enough for the greedy shareholders and this is going to bite all of them.
The situation is absurd. Contrast this with unlisted and /or family run companies, or smaller operations and you get more quality and less in the way of gimmicks.
It's a mess.
I don't know anyone who's looking at Chanel and LV right now; except for vintage, where the quality is much better. There are other brands that are concentrated on quality without the high price. Why spend $2200+ USD when you can get a high quality, bag anywhere from $200-$1000 USD? I'd rather have the high quality bag.
I know how you feel!! quality is the most important thing for me too!
LV released the 3 toiletry pouch set for about $1,500.00 USD pretax and I got them. Upon inspection, I saw the stitching on the size 15 looks very uneven. I posted a photo on a forum and people said it looks so fake.
I took the set right back to the boutique and got a refund.
And made in France apparently doesn’t mean anything these days as I was told all the sets were MIF. Just tragic 🤦🏻♀️
@@MsLulu-jr4on Made by subcontractors who bought out Italian business, and mostly run by Chinese nationals. LV sets the prices and they are low paid contractors and high paying customers.
something has to give.
@@deborahcurtis1385 Wow! Just wondering how you are aware of this - did you read it somewhere, or do you have connections in this industry? This is so disappointing!
@@abbycatherine8135 I saw a documentary on this, in particular about dyeing leather and treating it in Italy, the working conditions and also I know people in the area of northern Italy. The Chinese brought a lot of Covid19 into the area in 2020, and a lot of people died, including artisans who worked on the different brands. So there was a shortage of leather and artisans who are skilled. This is particularly why low quality leather and low quality stitching and skills. Chanel is probably the same, regardless of what they say, they are under the same or similar pressurese Subcontracting has been going on a long time in this industry but Covid19 has smashed the nexus between high quality and artisanal work now it's just about money and pressure. LV say it's all done in their own factories but I seriously doubt that not judging by their quality issues which at times are comically bad.
Dear Jess…Personally, I think luxury heritage brands are here to stay. Hermes, Chanel, LV and even Gucci-(not my fave)..because of all their long history…In my humble opinion will always hold appeal. I just think that these brands are having “identity crisis.” Trying to test the market and see what they can and cannot get away with, trying to maintain the classics (with ridiculous price increases) and come up with fresh ideas that will become new classics while attempting to figure out how to “still” appeal to the aspiration (bread & butter) clientele and cater to the very wealthy simultaneously. 🤔
I apologize for calling your Hermes collection boring and repetitive…..the truth is, the brand may come across that way because they stay true to and have perfected their timeless, excellent quality products. I think they are beautiful and love that you have the (overpriced) bag charms on all your bags. 😉🥰
There are many more opportunities online now to buy very very quality items. Silk and handmade wool and small Italian crafted leather bags and so on . The only thing that makes those brands valuable is the recognizable style and the logo. You can find quality even better quality elsewhere for much less.
Hi Jess, i found that LV bags and other designer bags do not keep their shape in humid places such as Japan and Hong Kong.
They tend to bend and get moldy. When living in the US, my LV bags kept very well bc of less humidity.
I brought them to Sg, Thailand and Philippines last year and them being exposed in the heat of the street made them so pliable and lost its structure..
ESP the all leather ones, well even the canvases. So for a 1,500+ bags to lose their structure after a few minutes or less than 2 hours of being exposed in this unsettling weather, it makes you really think of how stupid I am to waste my hard earned money into something that would lose their beauty way too soon.
@@la4828
I understand you completely. I try to remember to check my bags after humid weather. Sometimes I forget and then wanna cry when I see and smell the mold 😪
My brother works for a big university in the UK and they regularly send technology of different sorts to humid parts of Asia with staff and students and they just do not cope. I've heard stories of the extreme mould inside devices. It's so strange that huge parts of the world are not being catered to in terms of product development.
As someone who is recovering from long term mold poisoning, this is something I never considered, and strikes even more fear in my heart 😂 My bags can get moldy?! What next? 🫠 I am currently living in Chicago, where the humid weather is more limited.
@@abbycatherine8135 I think you can still enjoy the lovely experience of owning a luxury bag though. Just be mindful and take care of it by keeping it dry.
The brands need us. $$$
We don't need them.
We have the power.
Jess, what do you think about Chanel reporting percentage sales increases? I hear the stores are empty.
I think their cosmetic sales are driving overall percentage sale increases.
I think we will see more retail stores collapse, however, the big luxury brands will chug along for a very long time. I cannot see Chanel, LV, Dior closing their doors any time remotely soon. They will keep evolving even if the fashion and bags become boring for a bit. They are such storied brands, that their good will amongst the public will last for years.
The people have more power than a lot of these brands think they do. I can only imagine the brainstorming that must be going behind closed doors to try and come up with new ways to lure shoppers back into their stores. Instead of doing that, it would be nice if some of them would actually come up with new and innovative designs that shoppers run to buy and that aren’t just the trendy flavour of the moment. I sure would like to be a fly on the wall in some of those boardroom meetings. The pressure from above must be incredible.
I collected handbags as well chanel lv hermes and I realize it was not worth the price or I sold about 20 handbags in the past few months and I lost money cause u will never get what u pay. So I realize it's not worth it
Thank you for your video. I see a lot of people on TH-cam talking about quality of LV bags. I have quite a few LV bags and I haven’t seen any issues at all. And they do have good customer service in my opinion. I feel that their quality is much better than Chanel. Also like that they have so many different bags and prints, ex Famier POP, denim or different damier. I’m still a fan ☺️
The Chanel CEO’s interview was a joke. I will only buy vintage Chanel. Quality is a must for me period. Ideally you get quality with designer bags but as we all know the lux game has changed and the big brands have shareholders and shareholders mean profits which lead to a degradation in quality. It’s not just the bags it’s also the textiles being used in ready-to-wear clothing. Can’t tell you how many pieces I have been interested in but when I look at the fabric content there is a lot of Polyester. I’m only looking for at least 75% natural fibers as natural fibers wear better over the long haul and are better for the environment. This is why I rarely buy fast fashion….I rather buy second hand quality pieces for the same prices as the cheaply made crap.
I think the luxe community is returning to true lovers of luxury, people who appreciate the craftsmanship and how the items enhance their personal aesthetic. Not being able to travel drove too many who don’t actually care about luxury to buy and binge unboxings. Those people are now prioritizing their spend away from luxury and toward necessities and the occasional trip to the salon, dinner out or vacation.
But there are still plenty that are doing ok and have the means to buy luxury. I for one appreciate seeing people’s collections and discussing the industry with likeminded folks.
LV have set up an art gallery in Paris (the LV Foundation) so it seems like they are trying to leave a legacy which transcends luxury goods. They are also setting up a hotel in Paris, so are shifting to selling experiences instead of bags. I guess it’s harder to scrutinise the quality of an experience than a bag 😂 In France, they’ve put an extra tax on fast fashion brands to discourage people from purchasing them.
YSL had a price increase. I’m not even gonna try to sell anything because the market isn’t great. But that means there are deals on the resale market which I suspect will be the new normal for quite some time. And the premium lux brands aren’t going anywhere.
My Nieman Marcus shoe salesman said when Chanel decided not to sell at NM anymore, his sales collapsed 😢
Did you mean YSL had a decrease? 🤔
@@Karla-fl4mg Yes, that's what I meant. Thanks 😁
last 15 yrs I’ve collected whatever bags I’ve wished fr Chanel and Im determined to buy pre love fr now on … no more new bags , unless i strike the lottery big time 😂
Hi Jessie
Likely big brand will stay. Sales may not be the same, but they will still be around. Remember they suffered losses but they survived wwii!
High prices and lack of innovation is the main issue they all have in common
So many new releases and the most popular bags are the new styles
inspired by old collections or the classic styles.
LV needs a strong creative director, im so turned off by their new designs i keep rolling my eyes.
Luxury designers should keep everything “classic”, like most of Hermes designs or do something unexpected and risky to draw buyers attention in my opinion.
If the economy is bad… why don’t they create a less expensive design to keep consumers happy.
As a sign that luxury understands consumers.
Not asking to drop the price of whatever they have out already, but maybe a 2025 collection thats more affordable, modern and represents their understanding of the current economy.
And please no more quiet luxury bags 😂
Thank you for the video
❤
In elementary school, all the girls in my class wore the same jeans. And if you didn't, you were not cool. Now, I don't care what others think. I figure out what I think is cool, and that's what I wear, especially in terms of handbags. Now you can find others who like the same thing, no matter how narrow the niche!
But LVMH were up 13% , and Channel up 20% last year, Kering were down only 4%, but they were up 11% in 2022. Your conjecture isn’t really supported by facts. They are hardly struggling given we’re in the middle of a cost of living crisis.
I still love them but I watch different videos as well 😊❤
the constant referencing of the past is embarrassing for the creative directors. its like they are consistently admitting that the past is better than their current tenure, that they cannot match or beat it
❤
Its very odd that you are wearing a winter puffer coat indoors, and in summer.
Winter starts in a few days in Melbourne, Australia (where Jess lives)!
not everyone lives where you live
Hi Jess! I think the heritage big brands are here to stay. But, they are neither imploding or evolving. They are running around in a circle, and ending up in the same spot. Nothing is new or innovative. Chanel recycles the same old style, though iconic, collection after collection. To me, that water is stagnant. Maybe they need fresh new fearless talent at the helm. I don't know.
The bottom line is that more and more people are considering their spending more carefully these days. The richest of financiers predicted this for a while, and they are the ones who regularly pinch their pennies. Literally. 🪙🪙