Luxury fashion comes at a cost
By Ella Rodrigues
Gucci. Prada. Dior. When you think of these brands, the first thing that comes to mind is the sheer price of the items that they sell. All of these brands are considered luxury and run the fashion industry. These brands arose to prominence as early as the 1930s in the creation of houses in the fashion capitals of the world, Paris, Milan, and New York being the most prominent.
These brands are notorious for their name and have made a place for themselves throughout their years in the fashion industry. When browsing online in stores, people often don’t question the quality and price of the items that they are buying. What makes these products so coveted and expensive?
The secret lies in the creation of designer goods. The hours of work that goes into the creation of these items vastly differ from those of fast fashion. Less items are produced. This means that there are only 50 bags made as compared to 500. Less items available for sale increase the demand for the few branded items.
In an interview with Glamour Magazine, Alber Elbaz, a fashion designer, gives his take on the production of garments. He states that, “I took all the bones out, and I stitch, and to get there,[…] it took me forever. It took me six or seven […] to make one. And it’s time and it’s money and we are not doing it in offshore countries – we pay 65% taxes in France!
“It is so much work. Doing a collection for me is almost like creating a vaccine. Once you create the one vaccine, then you can duplicate for nine dollars and ninety-nine cents. But see if you can create it for nine dollars and ninety-nine cents, and the answer is no.”
Luxury items come at a steep cost due to the time and effort that goes into making them, ensuring the quality that fast fashion does not account for. Hours and hours of work go into sourcing materials, creating items and distributing them.
Why are consumers so willing to pay these steep prices? People are willing to buy outrageously priced socks or super expensive handkerchiefs simply because it is what is trending. There are many things that go into making a brand successful one of them being what the company Represents.
In an article published on Forbes, by Hannes Gurzki a program director at ESMT Berlin and an expert for branding, marketing, sales, strategy, and luxury brands. He writes that, “What I found was that the creation of desire, the process of longing and passionate imagining, is crucial to building successful luxury brands.”
He continued, “Economically, it’s all about price and value; culturally it’s about the magical aura the brands radiate; socially, it’s about status and exclusivity; psychologically, it’s about how the brand makes you feel special; and managerially it’s about creating a culture of excellence.”
Luxury brands create a want within the consumers. When they are buying a product they are buying an experience that another item would not offer. They pay to have that logo displayed prominently across their shirt. In the end, people shop luxury because they pay for quality, excellence, and ultimately the name.
Featured Image (at the top of this page): A woman sporting a high end purse. (Photo Credit: Cornel Cristian Petrus/REX/Shutterstock)