• 2 months ago
Turning poverty into fashion, killing coyotes for hoods, and making deals with discount retailers. Have these brands taken "luxury" too far?

Category

People
Transcript
00:00Turning poverty into fashion, killing coyotes for hoods,
00:04and making deals with discount retailers — have these brands taken luxury too far?
00:10There's nothing that exudes luxury and sophistication like a well-structured trench coat.
00:16Such outerwear can prove to the world in a split second that you're someone worth paying
00:20attention to. And hardly any other designer is so synonymous with that look than Burberry.
00:26The luxury label has a preppy country club vibe to it that has taken an aesthetic approach
00:31intertwined with tweed and checked paneling. And while the label has significant recognition,
00:37it might be worth investing your money elsewhere.
00:39As noted by Jing Daily, Burberry has undergone a massive restructuring effort in recent years,
00:46as its revenue has taken a huge hit. The CEO of the company attributed falling sales to the
00:52COVID-19 pandemic and shifts in customer habits. But the luxury brand really took a
00:58nosedive when it had to rely on sales to make ends meet. As it turns out, putting items on
01:03sale translates to catastrophe in the luxury clothing world. And customers who may have
01:09once splurged at Burberry started taking their business elsewhere. The ongoing pandemic made
01:14things even harder for the label, resulting in some pretty dried-up numbers.
01:19When it comes to luxury clothing, few brands are as well-known as Chanel.
01:23"- Has she forgotten? I know. I will not."
01:31The titular name is as close to synonymous with fashion as anything these days.
01:36And the brand's styles have been graced by some of the biggest names in history.
01:41Marilyn Monroe was once famously asked what she slept in. Her answer?
01:45"- So I say Chanel No. 5."
01:47This designer label and its infamy is unrivaled in many respects.
01:51But is it worth the money these days? The answer is an unequivocal no. As noted by Reuters,
01:58Chanel hiked up the prices of their most sought-after items in recent years.
02:03The decision came as retail success plummeted due to the COVID-19 pandemic.
02:08Even further still, more information has come to light about Coco Chanel's connections to the
02:12Nazis, with Forbes reporting that she had an agent number and a Nazi codename.
02:18If you care about your morals and your wallet, you may want to give Chanel a pass.
02:23Who can think about Dolce & Gabbana without envisioning that iconic scene
02:27from The Devil Wears Prada?
02:30"- Okay, can you please spell Gabbana? Hello?"
02:36While they are recognizable monikers in the fashion world,
02:39designers Domenico Dolce and Stefano Gabbana have made it clear that their work is more art
02:45than it is wearable pieces, the price tag of these designs reflecting that mentality.
02:51Dolce once asked the Washington Post as he addressed a dress with a $60,000 price tag.
02:58Do you ask the cost of a Michelangelo? You don't ask the price. Beauty has no price.
03:04And while you'd have to sell a kidney to even afford such a design from the luxury brand,
03:10you may not want to in the first place. As noted by an Injustice magazine,
03:14Dolce & Gabbana has been the subject of much ire within the fashion community and beyond,
03:19as comments from the designers have been labeled as sexist, fatphobic, antisemitic, and more.
03:25Gabbana himself commented on a photo of Selena Gomez in 2018 expressing his opinion that the
03:31songstress was ugly. Singer Elton John even called for a boycott of the brand after Dolce
03:38about IVF, saying,
03:40"...I am not convinced by those I call children of chemicals, synthetic children,
03:45rented uterus semen chosen from a catalog."
03:48So if you are going to drop thousands on a luxury item, you might want to look elsewhere.
03:53Oh, Balenciaga. The luxury label has been known for pushing the limits,
03:57with the chunkiest of chunky sneakers becoming quite the trend a while back.
04:02And while the designer label has certainly carved out a space all its own,
04:06you might want to think twice about dropping thousands of dollars on their newest footwear.
04:11As noted by CNN, Balenciaga dropped a new line of sneakers in May of 2022,
04:16dubbing the campaign the Extra Destroyed Look.
04:19And Balenciaga didn't mean destroyed in a meta way. The sneakers are literally ruined,
04:24covered in mud, and torn up to no end. What's even more upsetting is the price tag.
04:30A pair of these bad boys will set you back $1,850. We're not joking.
04:37The obscene prices don't just apply to shoes, either.
04:40For the 100% Cotton Sports Icon Repair T-shirt, which features prominent rips
04:45in the neckline and hemline, get ready to offer up an additional $1,050.
04:52There's a trick for staying warm in the cold winter months, living in California.
04:56We're just teasing, and if you find yourself in the Midwest or in the windy cities,
05:01chances are you know someone who owns a Canada Goose Down Coat.
05:05But simply put, are they worth it? The answer is a big, fat no.
05:11Financial journalist Kerry K. Taylor noted the brand is one of celebrity inflation,
05:16and that its success can be boiled down to marketing. Simply put, it's too expensive,
05:21not worth the cost, and you can buy a comparable coat for less.
05:26Taylor also noted the brand's questionable history, as it's synonymous with animal
05:30cruelty and the controversial coyote fur trimmed hood. Newsweek further elaborated
05:35on the brand's animal treatment, reporting that PETA has been after the luxury clothing
05:40manufacturer for years due to its use of animal cruelty. Then there are the extremes people have
05:47gone to in their attempt to score a Canada Goose coat. Newsweek noted that in Chicago,
05:51six people reported being robbed of their Canada Goose coats, while a school in England
05:57banned students from wearing them to class because students who couldn't afford them
06:01were being bullied.
06:04Father, son, and house of Gucci
06:07This luxury designer label is more of a religion than anything else,
06:11but buying into such a namesake might not be worth it these days. Gucci, of course,
06:16is renowned for class, style, and dressing the famous and rich among us.
06:21But as it turns out, people may just be buying the label rather than products of real quality.
06:27As noted by The Vau, Gucci's marketing suggests that the designer products are priced as
06:32much as people are willing to pay. The higher profile the products are, then the higher the
06:37price. Perhaps that is part of the allure of Gucci. The Vau notes that a select amount of
06:42people wear the designer looks, ensuring that it's surrounded by an air of sophistication
06:47and exclusivity. And while that may be alluring to some, if you're going to drop thousands of
06:52dollars on a designer look, you might want to actually opt for a brand that's going to deliver
06:57on both the quality and the high-profile nature. Gen Z feels like a huge season of change,
07:04and the luxury brands in the clothing space are feeling the pressure. One such label that
07:09has a hard time relating to the younger shoppers is Prada. The Italian company that was once at
07:15the top of the luxury game. Kiwi Zhang, a luxury shopper who works in finance, told Jing Daily,
07:22"...Prada is not on my radar." Zhang's comments were furthered by yet another young shopper,
07:27who said,
07:27"...I feel Prada is not in vogue. My budget will likely go to brands like Dior, Chanel, or Gucci."
07:33And the youthful consumers have a point. While Harry Styles has been tied to Gucci and Emma
07:38Stone has been the face of Louis Vuitton, Prada doesn't have a memorable young talent tied to
07:44the brand. And dropping $3,600 on a pair of embroidered shorts simply doesn't seem worth it.
07:52It should be noted that when you're thinking about dropping a decent amount of money on
07:56a luxury clothing item, you should do a bit of research into that brand's resale value.
08:01After all, spending $4,000 on a single item is a huge investment.
08:06And you might not love your current favorite five years from now. As it happens, the Louis
08:11Vuitton label isn't reselling at as high numbers as you might think. RetailBum notes that consumers
08:16are receiving about 80% of their money back when they sell a second-hand Louis Vuitton.
08:22That sounds pretty good until you learn that Hermès bags are seeing a 90% return.
08:28This could significantly impact your decision as to what you ultimately purchase.
08:33Is Louis Vuitton really worth all that cash when you could get a higher return down the line?
08:38And while we love the idea of investing in a single item like a purse, Louis Vuitton offers
08:43clothing items that are simply crossing into the absurd category of cost. A cross-back sports bra,
08:50for example, will set you back $1,660. And we can't imagine spending an entire month's rent
08:58on something we're going to sweat in at the gym. Few names are as recognizable as Versace.
09:05As not only has the family dominated the fashion industry, but it's also been at the center of some
09:10high-profile scandals. And while the Versace brand will always pack some sort of a punch,
09:17it might not be worth investing your money in if you want to buy luxury. As it happens,
09:22the high-end profile of the brand has gone downhill in recent years, its exclusive feel
09:28taking a turn in 2011. As noted by PopSugar, things started to go a bit south for Versace
09:34when its collection with H&M came out. While we love accessibility, being able to buy Versace
09:40at an everyday mall store like H&M definitely tainted its allure, despite Donatella Versace
09:47claiming it mirrored the brand's essence. If the H&M collection wasn't a sign that the brand was
09:52losing steam on the luxury front, Versace had yet another nail put in its coffin when it was bought
09:57by Michael Kors. As noted by Vogue, it was acquired for $2.12 billion. But any revitalization
10:06was slim. Even Business Insider has asserted that Michael Kors has lost its luster.
10:12So if you're a shopping designer, look elsewhere.

Recommended