People buy luxury items because they can afford it. This is the only way to show their richness to people. Luxury brands are obviously made for such people who want to prove that they are rich and they can pay any cost for their favorite things. People and fashion celebrities buy the branded goods of Louis Vuitton, Christian Louboutin and Gucci to wear robust and durable products. Louis Vuittan is footwear giant and fashion people spend a lot of money on branded products to show richness. Alexandra says, “I love the process, the quality, and the craftsmanship involved behind most good luxury products. Some people think luxury goods are very expensive and overpriced. Expensive, yes, overpriced not always.” (Alexandra 2010) Now the one more reason is export of branded items. Branded companies like Hermes, Gucci, Adidas and Nike are manufactured and used in economically strong countries. When these goods are imported by the third world countries, these goods become very expensive after inclusion of different taxes. Louis Vuitton is world leader in footwear collections. Other brands in competition are Prada and Alexander Wang. The very important factor behind buying the branded items is that people buy emotion, luxury, image and status linked to brand of their choice. Manufacturer keeps the interest of buyer in mind and makes items to fulfill needsof people. Inflation and difference in currency rates is also influencing factor in offering the different rates of single brand at different places of the world. Brands like Louboutin and Jimmy Choo have a big name on social media. These two are the most visited brands on the internet. Because they claim that they do not only sell shoes, they also sell the lifestyle. This is the lifestyle which convinced people to go for such stylish shoes. When Smith was asked about his interest in buying luxury brands, he reported, “Luxury brands have valid prices because they offer the best quality and whenever one uses a brand, it speaks of its quality. They never get weird and out of fashion. They are always in fashion.” The imprecision of the bags has proved that it is one of the most desirable bags since Hermes named it after British actress Jane Birkin in 1984, the prices of these products starts from about $9,000 to about $34,000 for a crocodile skin bag (Goldsmith 2008). People pay large amounts for buying Hermes bags because of already discussed reasons. Hermes bags are good looking and are made of very fine material. Costly and finished leather is used in making of these bags. Companies depend on good labor and material. Just for making the name of brand known to people Hermes bag making is free of any shortcuts. Tonello said, “The bag has become the iconic 'it' bag, the symbol of ultimate luxury, because of its inaccessibility to the general public” (Goldsmith 2008). Another beauty of Hermes bags is that these are hand made by highly skilled people. Quantity is decided and then bags are made according to decided quantity. No extra bags are manufactured in a year. Making of certain number of bags depends upon the availability of skilled labor. Variety of colors and styles are used in molding the leather in a very good looking bag. This fascinates the people and they become bag lovers by paying the high costs. When
No: Date: University: Luxury brands, why people spend a lot of money to buy luxury goods? Luxury brands and people’s interest in them is a factor that needs to be considered. People do not hesitate to spend a lot of money to buy luxury goods and their informed reasons are many in numbers…
Why is luxury market growing so rapidly comparing to Japan and U.S.? The objective of this paper is to know what is the reason Japanese and the people of the United States have stopped buying luxury products, the amount of sales made by these two countries have tremendously went down.
It has created its own space among the elite customers who prefers to buy them. Such types of goods and services are not essential for common peoples and are associated with rich and affluent people. They appeal to people living in higher strata of the society.
This essay analyzes the Luxury Goods and Fashion. Luxury goods are therefore those products are not necessarily basic for the survival of human beings. This does not means they are of futile in use, but it implies men can do without them through the use of substitutes for they just add pleasure to ones life. Goods are thus categorized to be luxury.
With the speedy development of technologies and the consequent advent of numerous items symbolizing luxury and status, a significant shift can be observed as in the definition of means and objectives of luxury.
The emergence of this difference can be attributed to many external as well as intrinsic factors leading to an inconceivable generation gap between youngsters and elders in terms of their viewpoints on luxury and status.
This self perception about parallel status and the driving motivate often leads to a positive impact on the purchasing power of such consumers. Thus the willingness to buy counterfeit luxury brands cannot be denied. It is both strong and self conscious In other words the consumer's perception of the counterfeit luxury brands as status determining phenomena cannot be ruled out.
opment of technologies and the consequent advent of numerous items symbolizing luxury and status, a significant shift can be observed as in the definition of means and objectives of luxury.
The emergence of this difference can be attributed to many external as well as intrinsic
The research report begins with the general portrayal of the study considering the scope and limitation of this particular report. The literature review provides a comprehensive view of the concept of the luxury brand and the behavioural attitude of the
This research will attempt to understand and demonstrate the preference and habit of Chinese ladies towards the consumption of luxury brands and with respect to preference of Eastern and Western brands. The research objective demanded more focus on the teenagers as well as the young girls and ladies who are between the age group 18-30 years.
By comparing China to Japan and the United States, we will be able to track since when it is this started happening and see if China is going to strive even more in the luxury products market. When these large luxury market