The Luxury Fashion Industry Is Designed To Keep You Poor
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Currently, the third richest man in the world is Bernard Arnault, the chairman and CEO of luxury fashion giant LVMH. Interestingly he is the only non-American in the list of top 10 richest people in the world. His wealth has skyrocketed over the past few years with the parabolic rise in LVMH’s share price. And it's not hard to see why they’re so profitable. It’s easy to make money when you can sell pieces of cloth for $5,000 each. While luxury brands build the perception of having the highest quality of clothing, for all practical purposes they’re not really any different than the clothes you would buy at Target or Gap. These brands are highly sophisticated marketing machines that employ every psychological trick in the book to make you believe the bag they’re selling you is worth $10,000.
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Before 2020, I was a young woman and every year I would put some or the other luxury brand logo on my yearly vision board. But a lot changed in that year for me - I am sure for many people. I woke up and realised what is real. Now when I look at luxury items, I say - hell no! It’s only healthy investments in myself. Now, my 2022 board consists of more travel and skill building. Girls, you may love Chanel but Chanel does not love you back. Remember that before you buy it.
This.👍
Great insight 🙏🏿❤️
Chanel doesn’t love us at all, only our money.
congrats.
I never did. It’s so tacky
1980 - it´s expensive because it´s very well made.
2022 - it´s expensive because people love paying 5.000 for a handbag.
More like 1723 VS 2023. You have to go back to when everything wasn't about "designer brands" amd back to before the industry revolution when things weren't just made by machines and mass produced.
@@AJBlueJay Not totally true. I have some vintage stuff that is way better made than items now. What drives me crazy is that I’ve seen t-shirts that sell for $500. T-SHIRTS!!! Who is paying that much for a t-shirt???
It was always as is even now. There are many manufacturers who are producing high quality products for a high but reasonable prices. And there are luxorious manufacturers who are investing into the label to promote their not-that-well-made products for such prices. There is demand so there is an offer. To the one each own.
@@Erhogz It never was like that many many years ago.
Those luxury brands started off as a money isn't an object and the best quality material with world class craftmenshp was used to construct those leather goods which were sold to royalty.
Nowadays, the brands have refocused on a badge, whilst the prices have gone up and the quality has gone down. Only have to look at a TH-cam dissecting the bags.
Those companies actively target the lower middle/middle class... aka the non the wiser of whom focuses more on the badge and the perceived prestige rather than the quality of the leather and craftsmanship.
in other words, it's expensive because it's expensive.
This is why I have decided to make my own clothes and bags. I design what I want and take the time to make it. The fabric won’t go to waste and I have a deeper appreciation for the piece.
Noble but sewing is also an expensive hobby. Fabric + notions + tools + the time it takes to learn how to make a well fitting garment + time to make a garment add up quickly.
@@cap4life1
I sew and it does not have to be a lot of money.
A good Pfaff domestic machine, needles, pins and thread. Chalk. A few books. Now there are videos, so you don't even need the books.
Most adults already have an iron and ironing board. So maybe 3 additional pieces of pressing equipment.
All hobbies involve time.
The cost difference between what my husband would have spent just having a tailor hem his pants and jeans, vs me doing it paid for a good quality sewing machine with bi-annual maintenance in about 5 years.
I will add that you do need to practice the techniques, but you can use low cost ends.
It depends on whether you buy all the cool things, or are thoughtful about how to approach your hobby.
Which is true of all hobbies. Every last one of them. 😊
Sounds like a fun hobby
You don't necessarily need to recreate a sweat shop in Italy (although it happens). All you need to do to be able to apply a made in Italy label (and be compliant with the current Italian laws) is to finish the manufacturing process in Italy.
Basically you could manufacture 99% of a bag in China, bring everything to Italy for the "finishing touches" and the slap a "prestigious" made in Italy label once you are done.
Probably not that easy - otherwise would be done like this. Ironic either way how cheap companies are that sell things at such insane prices. 3 € production cost = 5000 € sales price
@@herpderp3131 it's already that easy, and that's exactly what the majority of Italian based fashion companies have been doing for the past 25+ years.
As long as the finishing touches happen in Italy, the final product will get a "made in Italy" label.
You'd still need to have an Italian company, Italian brand and manufacturing capability in Italy. So a company from - let's say Thailand - cannot use the same loophole.
Ouch. 😊
This is actually how China has been skirting tarriffs from the trade war with the US. Have a product be 98% manufactured there then ship it down south to Vietnam so they can put that extra percent on it then export it under the "Made in Vietnam" label.
Worse yet, many of the "luxury brands" design are not that unique anymore.
My partner moved to Italy from Africa and worked as a seamstress at Dolce & Gabbana for years. During busy periods, like before fashion shows, she would work 10 or 12 hour shifts and six-day weeks for minimum wage on a 6-month rolling contract. She also required surgery to repair ligament damage from repetitive stress caused by overworking, which wasn’t covered by health insurance. These companies are shamelessly exploitative. Great video. Thanks 🙏🏽
EVERY clothing or purse manufacturer uses Chinese sweatshop labor. Jessica Simpson has made a fortune selling cheap goods with her name plastered on them made in sweatshops. So has Jacklyn Smith.
That's a lie, in italy Healthcare is free and you don't have to pay for surgeries even if you don't have a citizenship. There is no such thing as health insurance.
Also the seamstresses at fashion houses are highly selected people and definitely aren't overworked.
The people who are exploited and overworked tho are in the factories where they treat the leather, but these factories sell leather to many many different brands not only high fashion
@@fran791 The operation was covered by tessera sanitaria NOT Dolce and Gabbana. And this was once she filled out a ton of bureaucratic papers (another thing Italy is VERY good at). However, she had to make up lost hours at her workplace… as for overworked, I will reiterate… six day weeks, 10-12 hour days on a rolling fixed-term contract for six months (contrato determinato)
Glorified sweat shops 🤬
@Serge Is that really the point???🤬
My finance professor was from China. He once told our class that his friend back in China used to produce bags for one of the major European fashion houses. They were required to destroy excess inventory in order to maintain the brand's "exclusivity". Of course, instead of destroying the bags, his friend sneaked some of them out and sold them cheap to friends and family (including my professor, to give to his wife lol) 🤫
Oh, and his friend also told him that the actual cost of making those bags (vs. what you pay in the store) was really cheap
It's artificial scarcity. There's no reason they couldn't just ramp up production and make more.
😂 no one gonna tell his wife !!
Got anymore of those bags? Christmas is in 3 days 👀
@@nicolashrv like I said, it’s artificial scarcity. They have every ability to produce more and even destroy excess inventory. It’s a fake shortage.
I resorted to tailoring and small, local businesses for leather goods. It’s the best decision I’ve ever made. Local Taylors create couture made for my body, so I don’t need to “fit into a size”. I feel comfortable and absolutely incredible wearing those high quality items that last generations. I choose the fabric and this determines the price, not their advertising and fashion shows. This business is paying their taxes in the country they live in, and respect certain working conditions. I support a small, local business. People constantly ask me from what designer my clothes and accessories are, so I assume they look quite good.
I do the same
The fashion industry is one of the most psychopathic industries around.
Indeed. It exploits the human weakness and greed to the extreme
The fact that the workers who craft these items are often living in poverty and work in horrible conditions, is enough for me not to buy them. The exploitation of workers is disgusting.
Preach!
That’s not true. Artisans is what they are called are paid very well. They make a lot of money. All the cheap clothes, bags and shoes are actually the ones exploiting the poor. The kids working in factories for hours for pennies is the reveal crime.
Wonder how many people with an iPhone liked your comment 🤔
@Wary of Extremes I am used to it and acknowledge it, clearly. But so many comments seem to allude to this only happening to luxury brands and oh the horror, while being on an iPhone. Don't be upset that I'm merely a clear hypocrisy. You seem to get it, ok 👍
@@Vs-hl7zq oh yeah, it's so good that workers, who produce cheap products live in pure luxury)))))
I’ve gotten to the point where I don’t want to buy anything these day and I’m really enjoying the peace.
Same here !!! I now only buy clothes that I really need and at reasonable price . No designer labels . Bought dress ties at a store going out of business and next day went to all the men's stores in the city and in every store found exactly the same styles of ties from the cheaper store . All ties were 100% silk and the ones at discount store cost $3-$10 but had no designer labels . The designer ties $50-$80 !!!! All ties 100% pure silk .I wouldn't be surprised if they all came from the same sweatshop in Asia and shipped to Canada and were tagged with different designer labels.
Same here
Same, except frigging guitars
Yes!!!
Same. I’m looking to clear out my closet and shoe boxes and not replace anything. If I do feel to buy something, I’m thrifting it.
I’ve owned over a dozen Chanel bags in my early 20s and have sold some for more than I originally paid for, not too bad a deal. However most of my other designer pieces are lucky to hold 50% of original value. Regardless, I liked the designs, and also, let’s face it, many people treat you with more respect when you look expensive. It’s sad but true. However now that I’m older and actually more accomplished, I find myself very turned off by any excessive or big logos. And I don’t give an f about whether those people treat me with respect. People who need brand names to see i deserve respect is not worth my time. I put my money on things I deem as high quality irregardless of their price tag.
"... those people treat me with respect"
So it's worth buying counterfeit products
Regardless*** We’re human.
"People who need brand names to see i deserve respect is not worth my time." nicely put. 👏👏
Amen! I love what you said. I also read that these luxury brands prey on the insecure and those in the lower socioeconomic level to encourage their purchases. If these companies are really concerned about the demographics of their clientele, they’re misinformed. When you see the Gucci line, there’s people who do not scream “high class” . They’re in flip flops, messy hair/messy bun, looks like they just got out of a shift at a fast food chain, so to me, it’s really the money from their greed they are after. Luxury and designer brands do NOT make a person. You will see a “high class” person when you see one and when you do, they will be very discreet about it. You can tell by their aura, posture, how they dress and non-logo accessories.
@@nmew6926 No, because people into luxury know that you are wearing counterfeit. You are only fooling the poor poeple in the hood.
Very good content👍 Pretty much on track with my college professor’s option of the luxury brand.”…Every time you wear a shirt with their logo, that’s free advertising… You bought the shirt and now you are willing to walk around as free advertisement…”
Another professor told us in class, “…If you have a $300 purse you should be able to go into that purse and bring out that same amount of money…”Two important economic lessons I learned, as an undergrad.
A friend painted as a hobby for years and his wife wanted them out of the garage. He sold some at flea markets/swap shops for around $25. A street art festival was in town so he sold those $25 paintings for over $2500 each at the artsy-fartsy art festival.
Real streetsmarts wisdom states get those products while they are on the way to be burnt. Then resell them or wear them yourself. Another man's trash becomes your new outfit.
You just described the NFT craze
@@maeton-gaming stop it! You can’t right click and copy real life art. 😂
@@lombardo141 yes i can, it's called two buckets of paint, a rag and an afternoon. The price jumps up by $1,000 because I named the art piece that too, "Two buckets of Paint, a rag, and an afternoon" 🤣🤣🤣🤣🤣
@@maeton-gaming 💀. You are right someone will buy it. We humans are so dumb, omg
The sales people at the Hermes stores treat customers as if they were peasants; meanwhile they are paid min wage to sell purses
Hermès's furniture is beautiful and wonderful quality but the prices are truly unbelievable. Louis Vuitton also now has a furniture line - check it out, you could own a leather hammock for the price of a new BMW. LOL.
… yes customer service can be rude. But min wage is not what they make.
They make a lot more than minimum wage. Glass door says about $23/hour plus commissions.
@@edennis8578 Thats still pitifully little. Unless they have a client base that churns out sales....
It’s all in line with a luxury brand: sell exclusivity, pay least amount in wages.
Even many luxury brands like Burberry and Armani have moved at least some of their production to China. They aren't trying to make high quality clothing. They're trying to maximize profits. Just about a decade ago the MSRP for a Burberry Polo was around $150-$200. Now They're $400. How did things get so expensive?
I am working in the high end fashion industry and I confirm that everything in this video is accurate!
when I was younger I cared a lot about luxury brands but I soon found out that possessing them didn’t make me any happier
Besides most people can’t tell the difference between luxury and common products
Same here, now one of my biggest hobby is to get nice/good fitting/comfortable clothes for as little as I can. I was ecstatic when I can buy a dress shirt for 5-10$ instead of the usual 30-70$. Only thing that is over 30$ for me are jackets, t-shirts and the rest are all 5-10$.
@@SirChocula same, I want to purchase the highest quality for the lowest price because it's fun
LV and the like is selling status, not bag. Its for those truly rich to show off and put face, not for some dumb people who take loans just to buy it.
If you want to spend on luxury brands I suggest spending on perfumes
They can sit for years in your closet and still won't lose value. Shoes bag jackets literally bleed money
@@banksterkid5930 that's true
At first I was angry at Burberry and the other luxury brands burning excess inventory - they could sell them off at a discounted price or donate them! Oh wait, they wouldn't because the poor people will use their products and the rich will not want the products readily used by the peasants 🤣
Well said
Exactly 💯
so it's not good to be worn by the regular folk but good enough for burning? I am just glad I have never gravitated nor wished to own their products, never made sense to me
Its still strange that they choose to burn it because Burberry DOES sell some of their items off at a discounted price. Burberry has outlet stores (at least one that I know of, in Las Vegas) and they also give products to places like Nordstrom/Nordstrom Rack which will discount the items.
You are very right. These luxury brands keep making money because the rich don't want to be like average people yet we all breath the same air.
Sold my luxury items years ago and happily frugal and conscientious these days! Great video 👍🏻
This is top notch and very truthful. You can still look stylish on a budget anyway. Most of the ‘old money’ people never wear clothing with logos; they just wear simple, classic cuts. Those who go out emblazoned in designer gear are usually (a) middle to low-income folks pretending to be rich, or, (b) ‘new rich’ who think that by wearing designer labels, it makes them look fashionable. At the end of the day, if you want to save up and buy a designer piece that you’re going to have for a long time, there’s nothing wrong with that, as long as it’s within your financial capabilities. I would suggest a nice pair of shoes, a bag or a wallet. I have a couple of pairs of expensive shoes and an expensive wallet, I will keep them forever because I know they won’t go out of style, but I won’t waste my money on something like a t-shirt or a pair of jeans that I might wear for a couple of years and then leave on the hanger in my wardrobe. This is an excellent video, well done.
I blame "social media". When I was young, currently 38, I knew nothing about these type of brands. Never seen luxury cars, bags, or clothing. Maybe some were around but no one really drooled over these materialistic items. Now when I open Instagram, that is all you see.
Advertisers know exactly how to prey upon young women in their marketing techniques. And then there's the fact that women like to "show off".
The luxury brands were doing this successfully long before the rise of social media
@@cardinalrule6810 like I said, items from these luxury brands were never common and no one would spend 3 months worth of pay for a bag. The problem has gotten worse in these last 10 years.
Before social media they used fashion magazines. This has been around way before social media
@@SabrinaDacosta Most people were not buying fashion magazines. Almost every one has access to social media. Influencers are earning millions of dollars to post on social media. Celebrities like the Kardashians purely exist to sell us stuff. They are marketers dreams. No talent fabricated looks and lots of money.
Fast fashion is also designed to keep you poor by purchasing quantity over time, which is arguably worse for the environment.
I bought 100% silk ties from next to nothing from a store closing in Toronto and next day went to every men's clothing stores and every store had exact same ties I bought at closing store but these ones cost $50to $80 . The ONLY difference was the ties at closing store did not have any designer names . Imagine all the clothes we buy come from same sweatshop slave labour factories and the clothes just get designer labels and we pay a fortune depending on designer name
yea. so instead of one good quality item you paid 800 for that last 10 years you get ten low quality items that costs 80 each.
@@corneliali7747 Who wants to wear the same item for 10 year or carry the same bag for 10 years? It's definitely not about quality.
I agree I have a vintage LV that was over 10 years old when I got it ! I wear it each day and it’s high quality and I’ll have it for the rest of my life I’m sure I’ll give it to my kids , I got “cheep “ stuff in my younger years and they fell apart fast
@@anniealexander9616 a lot of people do. Some people still have their bags from 20 & 30 years back
i'm so fascinated by the old money aesthetic and people would roast those who didn't wear high brand clothes to fit with the aesthetic as it was basically that of rich kids.
I've found that consignment stores are such a happy medium here. They buy the luxury pieces that are from previous seasons and aren't shy about discounting the same way H&M does. I never go directly to a luxury store and make a purchase, especially when I can wait a few months for a piece I like and get it on a discount from a different consignment retailer
Hire a tailor or bag maker and create what you like, not what the luxury brands dictate. It will alleviate the fast fashion issue in many ways.
That is the difference between class and nouveaux riches. Showing off is the last thing that a rich person with class would do. Tailored suit even average is better than the most expensive brand. It just fits better. Additionally, paying anything to be a walking ad for a brand is a bit off.
@@maximmatkovsky6490 Couldn't have said it better myself!
Yep...I agree..couldn't have said it better myself
Well said!!👏👏👏
@@999NINE99 This is an excellent idea for jewellery items as well. There are many artisans in different places who can produce high quality work that will last for years, at far below designer prices. Wins all around.
If you’re trying to achieve financial freedom, buying luxury brands is counterproductive. Possible exception: If you also own enough of the luxury brand’s stock that your earnings exceed the cost of buying the products. But let’s be honest, most clout chasers aren’t even thinking about investing 😂
Facts!!!!
You forgot that these bags appreciate over time and your investment is actually going to bring you more money. Unlike stocks that you can loose as much as you pay for it.
@@Luxyglamlife um they don't lol have you even seen the preloved market
This would be an appropriate follow up video topic for a channel associated with investing: how have luxury stocks performed, are they indicators for the stock market & do their public financials reveal anything fascinating about the industry.
Clothing used to be one of the primary ways for women to either flex their innate math abilities and fine motor skills, OR their wealth. Both of which is a mate signaling strategy.
I occasionally sew my own clothes. There is a distinct world of difference in construction and durability of garments, between what you buy at target and something you would buy at Holt Renfrew.
I cannot afford a 2000 skirt. But I can buy material and put in the time and effort and make one of similar quality for 1/10th the price, (if we overlook the time and accumulated skills required).
I have never seen a skirt at Target that will come close to those options.
The techniques that are taught at the Academie du Couture Parisian make a world of difference in how clothes look. And how the garment holds up over time. It can be learned, through books and videos, but will never be purchased at target.
If you are buying "luxury" brands, you are buying someone else's fine motor skills.
EDIT: The cost per wear of my good skirt is way less than the cost per wear of the numerous skirts that would otherwise be purchased at target.
I literally feel ashamed now to own luxury items. Though its within my means and I don't need to save up for anything but.... Won't be adding more 🙁 Thank you for the video! ❤️
So about 10 years ago, I worked for a subsidiary of LVMH in the Human Resources department, and wanted to briefly touch on your point that you never see discounts on most luxury items. Although some of the subsidiaries of LVMH (like Domaine Chandon or Sephora) do discounts, you never saw them from any of the high-end luxury parts of LVMH. This is because they believe that once you buy one of those items at a discount, you will never pay full price for one again. Also, luxury is not so much a lifestyle as a perception, which you also mention. It's not the price you pay, it's the feeling you get from owning the product. This, of course, can be used to justify that high price.
They are essentially selling a dream
I think MSNBC did this documentary. They limit the quantity of the products since the brand has been established of being durable and quality products. The reason it's expensive.
You'd think they'd convince people to buy the items that are not selling so they cab eventually buy that "waiting list" item, like how Porsche makes you buy lesser porches before buying the one you want.
@@NooneStaar Ferrari is the worst with that. You can’t just buy a new Ferrari unless you’ve owned a bunch before. And even then, you have to agree to give the dealership 1st shot at buying it back if you decide to sell it later.
Yeah but that feeling is based on perception. Yiu won't get that same feeling if the item is affordable and some rando on the street can also buy it. You want to feel like you are part of the special few for being able to buy that.
This has always been a thing. I grew up in Marin county in California, and all the 'rich' kids had beamers while the rest of us drove cars from Japan or the US. They all moved us around from school to the mall, but it was about how you looked. It's always be a bunch of bull. Everyone here now has a Tesla while I'm still rolling my 2005 Prius. My Prius has already outlived the first generation of Teslas in my home town. Wanna be rich people will always buy the new trendy thing. The real rich ones don't let you know they're rich.
Well said. I always tell my kids don’t look at what people wear and drives. Look deeper than the surface.
@@jml9550 words to live by
mortgage broker in Silicon Valley 23 years, the last sentence is how I know they have "real" money.... : o)
@@jayneweaver8695 Exactly, one of my buddy have accumulated 10 properties in the last 30 years and all of them are within 30 miles radius of Cupertino. The car he drives (a 10 year old Sienna and a Prius) and the clothes he wears you could never tell he is sitting on at least $15M. On the other hand, a mid 30 single guy I work with makes around $120K, just leased a new Tesla Model S and rents an apartment at $3K…….
@@jml9550 THAT's San Jose, Bay Area, Silicon Valley EXACTLY!!!!
I have a friend who's really into expensive fashion, he often can't afford traveling, eating out, and he lives with his parents. I can't wrap my head around it
I remember as a teenager growing up in London when Versace and Moschino etc had the top spot for youth culture (94-98). People felt special wearing their clothes and people's response to them was different, almost celebrity status. Those clothes were even cheaper then than they are now, almost affordable today......for a T-shirt
I used to work for one of the highest and most coveted luxury brands. The lengths and attitudes of those trying to look rich is astonishing, and disgusting. I’d rather shop at H&M and be happy. The clothes don’t change the personality.
Fast fashion is bad for the environment! 😂
Charity shops for me 💕
Thats what I tell my wife who is so into these luxury brands.
I tell her if you dont have the income to buy these, pretty much you just look like someone who is trying so hard to compensate.
Why waste your money on things that depreciate in value? What so you can impress people who dont like you?
Fast fashion isn't right either. I think as long as people make sure they buy from companies that try to be ethical and engage in transparency, buy whatever you like, luxury or otherwise!
This is why now you never see anybody wearing suits and dressy clothes who can afford it let alone take time and fuss over dry cleaning.
I worked at a dry cleaners (in Flint, MI of all places), and the amount of people who will spend $200 on a 100% cotton t-shirt with a cheap fabric decal on it, is pure insane. Then they come in and spend $5.80 per item of clothing to have it "dry cleaned". I'm going to let you in on a little industry secret though. If you're bringing in; sweats, t-shirts, flannels, jeans, or regular pants, they're all going in an overstuffed washer with the cheapest bulk laundry detergent money can buy. Hell, sometimes the clothes aren't even damp in the middle when you pull them out to dry them. Then they get put into a dryer with no dryer sheets or fabric softener of any kind, and pulled out before they have time to actually dry. It doesn't matter what you pay for when you go to the dry cleaners, they only put fancy clothes in the dry cleaning machines. And a lot of them do not pay for the chemical that you put in the dry cleaning machine that makes your clothes non-static. Dry cleaners are cheap bastards who pinch every single penny and then some to make their money.
Thanks for the tip!
I love it. Thank you.
Wow!
They probably got a whole lot cheaper since the pandemic.
Dry cleaners smart, poor people buy luxury t-shirts dumb.
I used to be an addict to high end brands. But after the world wide quarantine i had a chance to re-evaluate my past on all levels and spectrums. Im now splurging on education and home based business gear.
Never been a brand person and I am so grateful. However, I would shop at these fast fashion stores but now I support sustainable brands. I am loving Veja right now.
I make 6 figures. I never own a luxury items even Coach/MK. Instead I traveled to 5 to 6 countries every year. I volunteered at the Red Cross, Taught English, & cooked food for the homeless people. Best investment of my life!
"and then everyone on the bus stood up and clapped"
Same, BK. People I work with waste money on labels that are blatant - pathetic need to fraudulently look successful. Yet I get compliment daily on my outfits which are a combination of a touch of retro with clearance at Ross, lol. I have found Prada, Fendy at the thrift store - not as often now that they have started putting the good stuff online. I own three properties now & those sad fools blow their money on brands. Tsk.Tsk.😏
@@davisholman8149 "and then everyone on the bus stood up and clapped"
@@davisholman8149 ok Mr. Rothschild
Exactly. I don't know any rich person that wears labels but I see a lot of poor people wear them in the hope that other would think they are rich and end up looking ridiculous and tasteless. Why would you do this unless you're mentally sick, poor or both? People who wear labels are a total bore and deluded. No one cares what you wear.
I’ve worked in the luxury beauty space for about two years total. The markup these luxury beauty brands have on their products is astronomical, and from an ingredients perspective there’s no part of their formulation that truly justifies the price. I’ve seen equally, if not superior, products available at Ulta for a fraction of the cost. Working in this space has truly changed how I see the beauty industry and has shown me what *not* to do when I finally launch my own brand.
Terrific! Good for you ♥️♥️
Good Luck with your brand
I've worked in luxury beauty (Chanel) and mid range (MAC) and you are Absolutely Correct!
What a great video. Thanks for taking the time to put this together. I can totally agree with all the points you make. The sad part is that people in general are shallow. Everyone wants to show that they have more than they do and "instagram flex". Hopefully one day people wake up and realize that the material possessions are useless. Im one of those people that needs to wake up
Excellent video. I learned all these things after watching the documentary called " The Arrivals " maybe like 10-12 years ago. I am glad someone on the "mainstream" YT also thinks like this and made an effort to publish such a video. All credit to you brother. Well done!!!!
I actually really like fashion, or rather "having style" is important to me, BUT even if I had $100 million, I'd think buying a jacket for $5000 would be a scam and not worth it. I take pride in dressing well, but I rather focus on finding interesting color combinations and textures to get looks that works together. I see many rich people that just buy in to the hype, but then they can't put it together in a cohesive look. Having said all that, I'm impressed with LVHM from a marketing perspective.
If you had milions. I belive you would pay with no problem 5000+ for a jacket
Yeah I completely agree that many rich people just own tens of thousands of dollars of luxury items and wear ugly outfits and think thats what fashion is, but that is just misuse of the items. Most of the comically priced bags and jackets, the $6000 LV jacket and such are very unique and low run, and those are genuinely hand crafted (the raw inputs are probably still unethical though). And when you got to Paris or Copenhagen you see $10,000 fits that actually are artistic expressions. But I'll admit most of the low end luxury items are just mass produced overpriced garbage.
@@andrewjensen8189 if you wanted to bring $1m to another country, you could send it via a bank and pay fees, or you could try to get it through the airport customs in your suitcase, or you could bring it across on your wrist as a frankly ugly Patek Nautilus Tiffany Dial and then sell it after you land. they are expensive and rare not because it is a bracelet that tells time but because it is a sort of poker chip you can cash in later.
if you are on a salary, you shouldn’t be buying these items.
If compare a $500-$800 Ralph Lauren jacket to an overhyped $5,000 jacket from someone else, you’d definitely think it’s a scam. Those lux brands don’t have access to any better materials or technology to make the same thing. It’s just a logo. People who buy into that lifestyle are morons.
I drive a 24 year old vehicle, and most of my clothes came from Sears or Goodwill. But I earned nearly $100K from my stocks and rental property last year. Designer clothing is for chumps.
Diamonds are the biggest commodity rip-offs going. Artificial supply restrictions by a cartel of dealers.
Yep, for sure! That movie "Blood Diamond" with Leonardo DiCaprio showed that. Pr!ck dealer ends up buying that huge diamond to then stick it into some secure cabinet underground. 🤔🤔
You'd think this would be common knowledge by now but people still say the weirdest things, like trying to justify a diamond ring as an investment.
Have been working for a diamond retailer for 10 years. Don't really agree with this statement. Diamonds have different grades and different uses(medical instruments, drills etc), jewelery grade diamonds are also very different, some companies accept only 0.04 percent of the diamonds they mine as jewelery grade. Colour and inclusions play a pretty big role here. Most diamonds come in with inclusions and normally have brown or yellow hue, which is not used in jewelery(unless we are talking about very vivid colours which is a category of itself - rare fancy coloured diamonds). Now, there are also options of lab diamonds but it's like comparing human to a doll, there is a difference. Right now traceability of the diamonds origins is a must in the industry and that does not only apply to mining but also to sorting and cutting. And yes, diamonds are an investment, certain stones quadruple in value in less than a decade but this does not apply to a salt-and-pepper diamond from Peoples :)
Got to love armchair experts lmao
The inequality / social pressure at 8:10 was explained PERFECTLY i’ve never been to articulate it!! Growing up in a small, rural town you never saw luxury - michael kors was a symbol of royalty where i lived HAHA but I immediately felt the pressure to dress like I came from money to fit in once i went to college. it’s crazy how much we think our style and outfits can say about us!!
Brilliant. While ago I had a discussion with a co worker about luxury brands> I stated that luxury brands are just brands that indicate extravagance and affluentce but their goods are not necessarily the best products, we can find good quality cloths with great designs but much lesser price in comparison to luxury brands. Unfortunately I was banging my head against the wall. As the discussion continued I figured out the psyche behind buying 2000 Euro shoes when you can buy a shoes in the price range of $350 to 650 USD made from best materials, designed cleverly and elegantly and manufactured with great craftsmanship. Unfortunatley the name of a luxury brand is a great way to indicate wealth and status even if the person is on minimum wage.
My experience with luxury fashion was : I worked in corporate which required me to hobnob with rich & famous. My heart against it, but my environment encouraged it. The circle will not even look at me when I dressed up simple. I was wearing Armani, Gucci, Prada, Escada, Cavali, etc. What I spent on those, I earned it back from work & investment. It's stupid, but it's real. Either I was in or out from those circle.
After years of doing that, in 2020 I quit, I live simply with enough money.
Those branded items? I shipped them to my relatives & friends daughters who's match my size, who's working in banks, companies which requires them to look fabulous. I regaled them with my story : the pretence world is stupid, the appearance is superficial & fake, but since they don't have to spend a cent for it, just enjoy while it lasts.
True, those money should be wisely invested on something else, such as learning new knowledge, acquire new skill sets.
So kind of you to gift your clothes! ❤️
So nice to see people that don't let the snobbiness rub in from their work and social circle. It always makes me laugh when I see the attitude of those that work in luxury retail, knowing that despite what they pretend be in their minds, we are all in the same tax bracket.
Nice 👍
I do the same now, I wear Italian brands just below the high end stuff just because of work. If I am at the Engineering lab, I West Khakis and Safety Boots.
The brands aren't the problem. It's the toxic culture WE build around it.
the culture was already built. brands just help this culture to live and prosper :) of course, people are the problem but this is literally the universal answer to any disaster.
IHMO they are at least part of the problem, especially their marketing. If you sell products as lifestyle items (i.e. "your life will magically become better if you buy our product") it's no wonder that people who can't afford said products will go into great lengths to acquire them.
Yes
Yea I think brands have way more influence on us than we think, they can spend millions on marketing on trying to indirectly convince you you need these products, and cultivate a snob culture that makes poorer people insecure about not wearing branded clothes. Don’t underestimate how manipulative their marketing strategies can be to our monkey brains even if they appear to be “just ads” or “just product placements”
It's trying to sell Prestige which is a word for lies and deceptions.
Also, Hermès bags are double hand-stitched and take 20-25 HOURS to construct.
Never underestimate humans’ vanity. Younger crowds are perfect fashion victims.
This also works for salary negotiations. If you under sell yourself in terms of expected salary, HR will think you must be a bad future employee. However if you request a salary in the top 25% range, they will assume you are a good candidate.
Interesting
Any sources to back this up?
@@thatshortkid310 No published studies unfortunately. Just personal experience.
The thing is, how do we know the salary range? A company has their own range, you can't exactly ask around since asking people's salary can be considered rude. So how can you tell??
@@Si_nengatcha maybe request a given percentage above your last job. 10-15 percent?
The moral of the story is to avoid spending your hard-earned money on a brand name if you can find an equally good alternative from a non-branded Asian manufacturer.
I don’t see anything wrong for making exclusive products, we’re not the same financially, if I can’t afford an LV bag 💼 for myself, there’s a guy across the street who can afford it. Having said that, if these luxury brands are exploiting poor ppl, then I’m disgusted by them, anyone who takes advantage of the poor is my biggest enemy! 😡😡
I feel this is a great video to watch and rewatch every so often, to help prevent life style creep. Its a good reminder of something just arnt worth your cash.
Very interesting video. The sad reality of this industry is that it targets women who easily set themselves back financially by purchasing outrageously expensive goods. Social media and influencers have only magnified this problem. It's hard to achieve financial independence while following luxury industry trends. It only adds up to expenses such as grooming (hair, makeup, nails, etc.). For a young, middle-class working woman to achieve any type of financial independence, it's almost impossible. So, absolutely, this industry sets women back and keeps them poor!
The industry isn’t forcing anyone to buy anything .. perhaps it’s female psychology that’s the issue
I don't think that the brands are targeting middle-class women. If that were true, they wouldn't destroy $millions in unsold products in order to maintain their exclusivity.
If the young women can vote in elections, they should be competent enough to make their financial decisions.
Making OTHERS responsible for OWN poor decisions? WHAT A JOKE, BUT JUST HOW TYPICAL :-D :-D
It's a choice if they want to go poor. Nothing to do with the companies. If an adult doesn't have the common sense there is no one to blame but her.
Are not working men often gifting them to women?
Many of the "luxury brands" are created artificially. Montblanc made pens, Hermes was a saddler, Vuitton was a luggage maker, Gucci made shoes, Burberry made protective clothing, etc. But they became "luxury brands", not by natural evolution of the companies, but by those who turned them into purveyors of a variety of unrelated goods: Hermes can't be expected to sell a lot of saddles to a wide variety of customers all over the world, after all.
Abercrombie & Fitch (once popular among teens, now bust), sold goods, clothes, & merchandise for hunting & field sports. They even had shotguns with their brand name on it.
Very well said. Those brands established a reputation for making good quality products such as durable saddles. When the automobile took over as the desired choice of transport, it was time for the company to apply it's skills elsewhere.
these videos keep me in the right mindset by buying vintage clothes.
Sometimes you have to remember that people genuinely see high fashion as a major form of art and that not all big designers make cheap, unethical, or mass produced products but some are actually quite the opposite... for me, a lot of my attempts to purchase luxury fashion are done in the spirit of collecting art
I have a funny story to tell. Once totally wearing quite pricy labels (Isabel Marant, Golden Goose, etc) i went to a middle class supermarket to get my online order (cuz I was close to the location so decided to pick the order by myself) - I approached the security for the order and he paid 0 attention to me, dealing with other ppl who as i found out were couriers - so apparently he thought i was a courier too! and i basically had to prove myself to be a customer who kind of was valuable to the place )) that was a disaster )) that's where i realized at the end of the day you might look like a queen only when you stand at the cashier desk of Golden Goose or Isabel Marant store but not anywhere else 😄😄😄
Welcome to the real world Precious Angel, we don’t exist to serve you.
Couriers at a supermarket? For what?
@@edennis8578 grocery pickup and delivery, like Uber eats and skip the dishes, but groceries.
Yeah but golden goose themselves have been criticized as they put all these distressed looking shoes out that run in price of about $500 a pair
@@jonnyfendi2003 Golden Goose make people look poor and unkempt. How is that even classy and fashionable? SMH
I agree with the dissenters in the comments. Luxury brands do not keep people poor. They will keep poor materialistic people poor. It's also due to the fact that these luxury good can be financed.
If luxury goods made anyone poor, there would be no poverty in countries with no luxury goods! It's just a poorly thought through notion.
@@johnrichmond.4783 he just meant that it exacerbates inequality , not that its the main cause or anything
@@andrewwamusembi7027 Nope. That is simply not the vid that we all watched. He clearly states poverty and 'poor' is in the title. A silly argument, I agree. Things that may exacerbate inequality are a completely different issue and concept to poverty. ie there is inequality in major league baseball player's wages
Dropping thousands on basic bitch clothing is a litmus test for needing to be chemically sterilized
I associate luxury brands with people who wanna appear rich rather than people who actually are rich
What gets me is that the majority of luxury items are not even ethically made. You’re telling me I have to pay 3k for a bag made in a sweatshop?! No sir.
i would venture to guess that the fashion industry is NOT designed to keep you poor, and actually only keeps those poor who cant afford to buy luxury items, but still attempt to buy them. I was actually surprised when my wife decided to sell some of the luxury handbags i bought her and she received 90 - 95% of the original sales price in the "pre-loved" market. i know they are not investments by any means, but they often hold value much better than i expected.
In some cases you can get more than 100% of the original sale, it’s crazy
Actually some purses, sunglasses, or just luxury vintage items in general can be an investment. They say that Chanel quality in their purses have gone down and that if you have an original Chanel purse, that is actually now a good investment. Seeing as Chanel increases its price four times per year, that bag is pretty valuable depending on the shape it is in. Just something to think about, not all luxury goods are like this, but some.
@@ErinGrime - thats good to know! i've bought her numerous LVs, but now she wants a chanel bag next.
@@JP-gx6pi - i believe you.
Limited edition hold the value better or go up depending on demand, all others you lose great sum of money.
Great video! The other week when I was out Christmas shopping at my local mall I stood behind this woman in a queue, who had a meltdown because her credit card was declined while she was trying to purchase a designer item
It saddens me a bit when you realise the lengths people are willing to go through to appear wealthy
Funniest thing is actual wealthy people appear modest. For example Warren Buffet living in a normal suburban house and driving a VW Golf and Mark Zuckerburg driving a Honda Fit.
@@Towelie- There is a misconception about wealthy people appearing modest. Warren Buffet modified his home's interior and also bought out the other homes surrounding his
Zuckerburg's clothes are actually specially made and very expensive. I think the brand is called Brunello Cucinelli
I've met, known and have worked with many high net-worth individuals over the years and they are certainly not above helping themselves to expensive items most people cannot afford
@@larrytron1992 But that just supports my argument, Mark Zuckerburg's shirt may be very expensive but it doesn't have a giant Brunnelo Cuccineli logo plastered all over it and appears like any other basic blank tee you can buy at H&M. While poor people or even some wealthier people would spend $700 on a belt with a giant Gucci buckle. One is subtle and appears modest, the other is in your face.
That makes me sad. I can feel the embrassment for her.
Buying high quality but modest looking clothes or buying your neighboring houses when you're a world famous investor seem like pretty reasonable purchases for billionaires.
I started buying bespoke clothes a few years back. I decided if I was going to spend a lot of money on clothes I would get them custom made with the natural materials and colors I wanted. I think I' m getter better quality, I think the clothes will last longer and I like the idea of cultivating a relationship with the designer.
Where do you go for bespoke clothes?
A seamstress or tailor or maybe make something for yourself. Trick is to know what you want and how it’ll fit in to your wardrobe
This video makes me think of a theory I had about Marie Antoinette when I was making a costume of her... She started out trying to really show off with her hair and her gowns but then she got tired of it all and she wanted to dress in simple clothing and be out in her garden away from the palace. I wonder if the high end labels and the media turned everyone against her because she was such an influential figure who turned on them and started influencing people not to buy overpriced designer products anymore.
Interesting. I heard the famous quote is a massive fabrication. Thoughts?
My father spoiled my mother with luxury items like Louis Vuitton Bags and Rolex watches when he was winning a lot of money as a professional gambler! My mother does not spend that kind of money on her own and buys clothes at discounts from the premium outlets! She has one leather bag from Bebe that lasted for many many years and is still in good condition! One of her Louis Vuitton bags was easily damaged with little use at a short period of time! Louis Vuitton did repair it for her but they were going to charge her a fee until she explained that for a high end store the quality should not have damaged the bag in such way for a short period of time!
Maybe it was a counterfeit but the store didn't want to admit it . Another reason NOT to buy OVERPRICED designer crap .
@@georgevavoulis4758 lol LV will not repair a fake designer bag! They have declined many people who have tried to beat the system and they always end up being embarrassed! The good thing about these designer brands is they will fix authentic items no matter how old they are!
The solution to this on a personal level is to buy thrift store clothes. I can find great, well made clothes and shoes in Goodwill, Value Village, St Vincent De Paul, or Salvation Army stores. Buy carefully and pay a fraction for nice clothes.
I just bought a Tory Burch purse in a thrift store for $20.00, it just needs some leather cleaner. You cant even buy some cheap Chinese purse at Ross for $20.00.
I find luxury brands at consignment stores at more than half the original price. Its eco friendly reusing items already made.
I'll never got this obession with Brands, I always found it silly and stupid. If I had the financial means to spend thousends on a dress, I would go to a bespoke Tailor and would let him make one for my body. I prefer quality and would never ever pay these overhyped companies to be there walkind add. I would rather burn my money than buy something stupid because of a label.
But luckily I can make my own clothes, so at least I know who's sewing them up and they also keep for years and years - I find fashion trends absolutely idiotic. The only reason to sometimes make changes in my wardrobe is if the season changes or somethings damagend beyond repair.
Although some of the facts are true you can't compare clothes just based on functionality, similarly to how a Picasso painting isn't worth the same as a painting of an unknown painter , a Gucci t shirt won't have the same retail price as an H&M one.
What becomes an issue is buying things that you can't afford or needing to have tons of them.
Finally someone with a sense
I agree that the quality of designer brands are way better , basic functionality however is the same, but burning 28million pounds in merch per year is very suspicious, insinuating that the merchandise is overpriced, not saying it’s poor quality, but astronomically overpriced.
In any other industry, destroying hundreds of millions of dollars in merch is dumb, thus the justification has to be that it’s overwhelmingly overpriced.
My father used to make pants for many different companies in LA. He said the only difference in pants between a normal brand and a luxury brand was that the luxury brands were very choosy about the sowing patterns (unsure what else to call it). It would only add about a couple cents difference to the final product. That's the difference between ANY clothing item, it's all just marketing. And yet to save a couple more cents per product they still sent those jobs to sweatshops outside the country, for literal pennies on products they would burn if it didn't get sold.
Nope. The difference between cheap and very very expensive trousers is massive. In 1990 or '91 I got a new pair of woollen trousers that sold for £5000 (sterling). They were immaculately made and that was obvious from the first moment (inner lining for example). The crease on the leg was also permanent and part of the fabric. You could not tell this to look at them though. I remember these trousers very well. Sorry mate but very very high quality is very very different to 'ordinary' clothing. Cheers.
@@johnrichmond.4783 Sure, you get high quality fabric but the price is still too high compared to what it costs to make.
@@johnrichmond.4783 lol sorry mate, u paid 5000 sterling for a trouser. Can u be my daddy?
@@benj3911 Nope. I'd disagree again. It entirely depends upon who you are and what you value. If you are VERY rich, what is £20,000 on a suit? I live in the Middle East. Arabs out here think nothing of giving a Rolex as a 'thank you' gift (happened to a college of mine). So 'too much' is a phrase we cannot use. Please remember, for truly expensive clothes, there is no label showing. The buyer is purchasing immaculate presentation and unquestioned style. What IS that worth? Cheers.
@@johnrichmond.4783 that difference in quality can still be made with high quality fabric and CERTAINLY NOT cost 5000 pounds. It's all about the brand.
My father is an accountant for several textile firms that export their fabric to brands like Armani, and while their design might certainly be "nicer" and their brand certainly gives it a higher price than any local brand I could find, their fabric is the same I can find in my home country. You are being deluded by the brand and do not want to recognize so.
To say the quality of luxury fashion houses is comparable to H&M is absurd. There are enough valid criticisms of the industry that you don't need say false things to be critical. This is an example I found of the workmanship to make one luxury fashion piece:
"In truth, the set is constructed of French Chantilly Lace made by Sophie Hallette in the Calais region of France with Leavers Lace machines that are over a century old and take at least 2 people 2 months to thread by hand.
Loading the loom with a new pattern takes at least a day. All lace patterns are drawn by hand - down to every thread. Someone walks up and down the machine to monitor it as the lace is made to help prevent major defects.
Once the lace is made, any faults or defects are corrected by hand, and any loose threads are trimmed by hand. Any embroidery or embellishment on the lace (as there is on this set), is also done by hand. The people who work with laces of this quality are top level specialists.
The designer cuts every pattern piece by hand. Including fastenings, trims, and other components, each set contains dozens of individual pieces.
Sewing a single set from start to finish takes several days, with some techniques, like lace appliqué, taking hours on their own.
The designer also had to purchase all the other metal components (which are plated in 24k gold), finishing details (such as a real freshwater pearl), and all the other threads and bits and bobs.
Once the boutique receives, they arrange a photoshoot to promote the garment. This includes hiring a photographer, model, MUA, hairstylist, and location. The boutique also has to pay employees, rent, overhead, taxes, insurance & other expenses. This determines the final markup."
What you’re describing is usually Haute Couture
You think these high fashion houses will do all these for ther products while they have an option to cut corners, exploit immigrant workers and boost their profits? Don't be naive 🤣
This is called not efficient at work.
@@Fishmans Apple use china worker and sell it at premium though? Everyone know it and still buy it.
@@Fishmans um and what does that mean??
Great video. Well structured and highly informative.
So glad I have studied Graphic design & Communications 👌
You can literally see the world with different lenses.
Rich people trying to look poor and poor people trying to look rich. And then you have people looking like shit in their expensive clothes and massive credit card debt, its funny.
Spot on, so true....can't say it better myself 👍
What Jim Rohn says "The rich invest their money and spend what is left; the poor spend their money and invest what is left" which is true. Invest 15% of your paycheck each month. Those who can't, well its your fault for breeding when you make minimum wage living in a high cost of living state. Fvcking idiots.
Rather than spend your money on luxury brands, invest in the luxury brand. Get your gains and let other people spend their money on luxury brands.
I was just thinking about that throughout the video
Very nice video, lots of people so crazy about LV bags …. I hope this video will teach young people and poor people don’t spent too much money on luxury brands , save their money for rainy days and save the environment .
Not just fashion industry
All Laws, trading,stock market, parliament, education system, justice system, advertising rules .... are all designed to keep people poor
There's a social influencer who advises women who want to be 'elegant'. She makes viewers feel cheap if they only buy Coach bags, and not Hermes. But she has a very bad
botox lip job, with a highly exaggerated upper lip. It's quite funny in a sad kind of way.
She reaps what she sows . Also notice everyone in the fashion industry is UGLY AS SIN except maybe the models .
I've never got that impression from watching her videos. Yes she encourages women to be elegant, but it's more related to how one should carry themselves, such as improved posture and manner of speech. As it relates to fashion, it's more related to wearing clothing that is made of good material and fits one's individual body shape.
2022 is on the horizon. Let's aim to cut the trash talk about people. The only way to witness an improved society is to improve ourselves.
@@missnlahi I watched almost all video. She did look down in few videos on people who wear Zara, H&M, Guess, Michael Kors, Coach and said that these brands will make you look cheap and not elegant...
Well screw her because I love my coach bags🤣
Judy, this is so funny because before watching this video, I watched the exact video youre talking about. I had to click on this video to makeup for it. That "lady" was telling her viewers how to look elegant. And that wearing leggings t shirts shorts and jeans and normal clothes make you cheap. What upset me was that she deleted all the comments that were against her. It was a really sad video. I mean she had 6 million views on it. And there were people defending her ugh. Im glad I scrolled down and read this the same day I watched that video. I know exactly whom youre talking about. Fashion is not a good thing whether its slow or fast. It still damages the environment. Clothing shouldnt dictate so much in this world. So much of focus goes into what is in fashion and what is not. So many women get harassed for not covering up.
I only buy "luxury" items at vintage stores.. when the super rich is bored or ashamed to wear the piece twice and donate it😁
Damn
That’s how I came up on a Gucci wallet in San Francisco
Absolutely true! I do love some luxury items, but it a treat for me when i have money, i will never go broke for fashion, my peace of mind is a hundred times more important and financial freedom!
The dollar value of the destroyed surplus inventories is obviously reported in retail prices. The real dollar loss was insignificant. What an amazing business model, and that there are those naïve enough to make it work.
There’s a lot more that goes into the pricing of luxury items than labor and branding markup. The prices you pay for items include cost, labor, materials, insurance (loss prevention, damaged items, product recalls), salesperson commission (in regions that do that), complimentary alterations, after sales service, profit margins for when the items do get sold on sale, client events, the free drinks and/or chocolates provided when shopping in store, the beautiful packaging, as well as client gifting. You’re not just paying $5,000 for a bag or jacket, but it also depends on the brand you’re shopping with. Some brands expect you to drop serious cash, and give you very little, or nothing in return. Choose wisely, and research the products you want to purchase beforehand.
Years ago I knew an employee of an ultra ultra-lux brand and she had a bunch of the stuff. She got the stuff at cost as a perk which was 90% off regular prices. Egos can make people do stupid stuff.
Amen to your last sentence lol 🥂
Cost of sales, not even cost price
The fact anyone buys all these “luxury” clothes is ludicrous. They’re either the same or just barely better than clothes that cost 50$. If even, I’ve seen “luxury shirts” or “luxury shoes” that just look extremely uncomfortable, and ugly too for many shoes especially.
My favorite/everyday purse is a $6 black Chevron quilted faux leather clutch from Ross. The original wristlet strap broke so I replaced it with a cute gold and faux leather $5 wristlet strap from Amazon. The cheapest thing I wear yet it heightens many of my outfits to be "dressy."
As a poor minority who lives paycheck to paycheck, I see this happen much too often among my peers.
this is why you have poor minorities.......it's about being stupid, not being poor due to the evil corporations.
@@nicolashrv not 100% true at all.
Corporations created allot of today’s modern ghettos.
What do you think happened in Michigan once all the auto industry started making all the parts in Mexico and China? What do you think happened when all the steel mills and other factories shutdown and moved over seas? It created mass poverty.
Take the south side of Chicago. Was a industrial powerhouse until the 1980s the corporations relocated almost everything over seas or too Mexico. Today some of these areas are war zones. You have entire communities of people who’s jobs just up and went away. No jobs ever came to replace them
It’s much more complex than your argument
@@meetstepsisalcoholicdouche6167 you don;t have any idea what you are saying. Companies make their parts in mexico or china because GOVERNMENTS rise taxes and or increase regulations, like if we are living in the 1900 under Carnegie or Rockefeller's industry years.
It is OBVIOUS if they move out, all the people who worked there will lose their jobs, and homes.
That has nothing to do with the corporation, but with the stupid government and its TAX POLICIES.
Why you think they use slave work in China? Because GOVERNMENT allows slave work, because that is the communist way.
The moment Trump cut taxes on big corporations, they started to relocate back in USA........but then stupid minority voters said "orange man bad, give tax cut to rich, I want to be jobless and poor again!!"
Nobody cares that you're a minority. It doesn't matter.
@@nicolashrv no it is not it’s always cheaper to hire workers from other countries
I don't have luxury goods or high end fashions. Many are just cheapest plain Uniqlo shirts and trousers bought by my mom during the discount seasons. 😂
But for working shirts, suits, shoes and leathers, I always have them custom made with our family tailor. They're transparent about the material cost, I can request my own design, needs, and the sewing can be customized. Mostly it's cheaper than luxury brands' product who has the same or even better fabric, and most importantly, no one can have the exact styling as I do. 🤠 That's ultimate exclusivity, and I really appreciate their craftsmanship.
I would love to make all of clothes myself ,never ever have to buy anything from overpriced stores and I make better fitting clothes too .
@@georgevavoulis4758 yes
That’s the difference between the New Rich and The Old Money, you are one classy lad Salty Monke!
@@SantiagoHernandez-qx1pe with all due respect sir, I'm not as classy as you might think. 🤠
This makes for an interesting conversation. I looked through many comments and agreed with the response to investing in self versus buying luxury items. However, I just researched a few luxury brands being covered on this platform. The numbers are staggering in regards to people being more interested in obtaining brands such as LV and Gucci than to save money and buy a lesser brand. As spoken in the Matrix " ignorance is bliss"
The weirdest part is, that most of that stuff doesn't even look good.
I find myself gravitating towards Japan’s goods because of their high quality and reasonable price.
Can you please name some brands 🙏🏻 i would like to shop from there too
where do you get them from?
@Paul S 🤣🤣🤣
@@wholetthedogsout8097 if you’re looking at purely watches Japanese automatic watches are almost Swiss watch quality.
@@wholetthedogsout8097 kenzo is a good brand
I was on a train from Paris to London after fashion week just happened to have ended, and I struck up with a conversation with a girl working in the industry. I’ll never forget what she told me, she was working in high fashion and literally told me never to pay retail when the garments aren’t worth it, she also said to buy at sample sales. I’d never heard of sample sales at the time and it was very enlightening, I started going sample sales in London, sometimes I would pass by one accidentally and I’d always go in and scoop a bargain. it’s unbelievable what you can get. Even when something I bought didn’t fit right I would resell it and actually make a PROFIT since the sample sale prices are so discounted. Sample sale. Sample sale. Sample sale!
@Block Lord that’s a joke right? 😅
@@nameisamine no he is probably just american
Thanks for the insight! ❤
No one is going to convince me a pair of shoes should be $2,000 or a jacket should be $5,000.
Thank you for such an informative video. Could I suggest a similar video focusing on the beauty and luxury skincare sector. Thank you so much 🙂
Where this falls apart is comparing functionality - of a handbag. A plastic bag has the same functionality. But one functionality of a handbag is that it's a fashion item. Hence a real Gucci bag gives the lady wearing it 100 times more pleasure and/or recognition as a Zara bag. So if that perception or feeling is important for you - you pay the price. By the very definition of LUXURY it's unnecessary luxury always is, it's an indulgence. And some people get suckered into this and trying to pretend, spend more than they should. etc. etc.
Yes, the prices are inflated as fuck, but to say that there is no quality differenc in leather working when done by a seasoned hand or in a swetshop is a bit over the top, that zara bag goint last for a year tops
sociaty would really benefit if we could go back to buying clothes from tailors
yes the leather is much more high quality, i agree. the leather will still deteriorate though.
it really depends on the brand though. something like a tory burch leather bag would be lower quality than a chanel.
@@fionarofl there are some articles of clothing where the quality differences are huge, like leather. A luxury t-shirt on the otherhand might as well had been made in a sweatshop.
I always say if you want to know how well off a person is, look at their shoes.
@@fionarofl you can;t compare a luxury leather bag, which can last for YEARS, with a sweatshop bag which breaks after 2 weeks. I have a real leather jacket for around 20 years, still looks brand new........meanwhile, my gf buys cheaper quality ones, and after one season, they already started to tear apart and you have to buy a new one.
@@Sofia-kr9fb WHAAAAT? I had two t-shirts between 1989-92 and I still miss those FANTASTIC t-shirts. One by Stone Island and one by Armani. They were embarrassingly expensive but incredibly well made. The collar on the Armani was superb, and with no name on it, I had 5 years of people saying, 'Oh, I really like that t-shirt!' For years I used to tell people, 'Well, I always thought there was a low ceiling on how well a t-shirt could be made but I was wrong!' There was so much going on inside the Armani (less so on the Stone Island, that was just a brilliant design) ...so much work around the arms and collar...they always looked perfect and distinctive.
This video was incredibly well-made and a pleasure to watch
I'm in my late teens but for yrs now, I've always been wondering bout the obsession of luxury brand items my other female friends have. Since elementary they start talking bout them, but I was never interested in fashion so I lacked knowledge of such. I never understood why they'd develop obsession of wanting to appear rich just to please other rich people, or spend thousands to buy an item at an unreasonable high price, it baffles me in short
2:08 Gucci bags have extremely high profit margjns. The reason for the high prices is that the brand has to constantly increase shareholder value. They’re not really making a better product. It’s still great quality and the craftsmanship is there. But still they have to answer to the shareholders. The bag probably costs $200 in materials and $200 in labor, so maybe $400. They could sell it for $500 for a $100 profit, but again, shareholders higher profits. Look at Coach for example, they’re selling quality made bags made from real quality leather, but price their bags at $500 and still turn a profit. Unfortunately, the Zara bag is made for PU leather, plastic, and wasn’t stitched as well at the Gucci or the Coach. Over time, faux leather peels off and deteriorates, real leather, when taken care of, age beautifully. But that doesn’t justify luxury brands like Gucci to have a profit margin of 450%. The prestige. The exclusivity. Is what justifies it. Even though it is intangible. The perception of luxury is the driving force that makes people willing to pay the price of admission to this “exclusive” club.
I agree with you also consider that these luxury brands have to pay for the beautiful stores, packaging, and the runway shows etc.. Walking into a Gucci store and being serviced is a whole other level of experience than walking into a Zara! And the packaging of Gucci products is exceptional Zara doesn’t even give you a box for the shoes they sell you in store!
He’s back.
The man, The Myth, The Megazord himself!!
Megazord hahahhaa brings back memories
In the 70s my mother and I went grocery shopping (in Germany), where we always had to bring our own bags. We ran out of bags and I said to my mother we need another bag, which had cost 10 cent. My mother was like hell no, I'm not paying money to run advertisement for this store. That stuck with me.
Now I only have one pair Designer sunglasses and a designer watch (both second hand), because the cheap stuff broke every year.
You know what else I have: no debt, and paid of real estate properties and 2 very nice cars ;).
Title of the video is misleading. Luxury fashion was not made for the masses but for the elites. The author failed to acknowledge the design & creative behind what 'designer' means. That said, to buy luxury or not is still a personal choice. It makes sense not to spend on it if you can't afford it, and if you really want it then save up for it as a 'treat' once in a while. It's all about moderation. An item is worth as much as you are going to use it at the end of the day, while considering how long it should last you. The most expensive item I ever bought myself was a Jerome Dreyfuss bag (not luxury but contemporary designer) for less than $1000 and its been 9 years and I still use it from time to time. The use I got out of it made it worth more than what I paid for. :)