Luxury Fashion is for Broke People

Written by Barry Investment Advisors | Jan 30, 2024 7:34:15 PM

Mainstream “luxury” brands may be expensive to middle-class individuals, but they don’t quite pass muster for the ultra rich. For the last few decades, designer brands like Gucci and Louis Vuitton have used marketing tactics to create a sense of status and scarcity for their apparel and accessories, leading the middle class to overspend in an effort to take part in the high-class aesthetic. The wealthy, however, have trended toward buying the pricier, higher quality alternatives to the “loud” items we’re familiar with, often opting to wear luxury clothing with little to no branding.