Luxury Brands Are For Broke People
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- Äas pĆidĂĄn 1. 06. 2024
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âïžTimestamps:
00:00 I bet you didn't know this
1:30 What are luxury brands really doing?
02:04 1st way luxury brands do this
03:13 2nd way luxury brands do this
03:42 3rd way luxury brands do this
05:20 The 1st big problem with this
06:46 The 2nd big problem with this
08:30 The 3rd big problem with this
09:56 How you can still buy luxury brands
11:43 The 2nd thing you need to do
12:30 The 3rd thing you need to do
______
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Also alot of rich people get their âluxuryâ brands for free
Not precisely rich people, but rather famous people get free luxury brands. Because then they get photographed with them, and common people see those pictures and want to buy the items to prove their status.
@@exqueue3813yes though I also know people who have perks through jobs or whatever like my family member is a vip at a hotel/casino and they get lv purses, gucci etc for free
who cares how they get it? Why do you care? I don't buy any clothing with any brand names on them.
We get mostly discounts, not necessary for free as many would believe.
@@mjmf1430 The wealthy people I know could care less about most of the âcommonâ designer brands. Yes, they wear good things - but they are not motivated by many of the typical high end brands. I sell bio tech med devices - my wealthy friends do travel regularly - but they are brilliant scientists & physicians & not smug whatsoever.
The experiment by Payless is priceless. It proves the stupidity of people.
No kidding!!!
These famous brand capitalists take note of peopleâs comparison mentality. Itâs not uncommon for ladies to buy bags easily because they donât have money to buy them. Only by setting the threshold and having to go through so much hard work to get the bags can people feel valuable. special value. The dopamine threshold of rich people can no longer be satisfied by normal consumption. *condup*
Yea, it proves the theory of the velvet rope about making something look exclusive. It makes people want it more
Never liked """Luxury""" brands. It's so ridiculous that people would spend so much LARPing as successful people.
500 stinkin sneaker
Great video, Vincent. However, you're missing quite an important point here. While I acknowledge that Zuckerberg and Gates don't need to buy Gucci-branded t-shirts to display their wealth, they do purchase clothing from luxury brands. They prefer quiet luxury brands with no visible logos, such as Loro Piana and Brioni, over loud luxury brands like Louis Vuitton and Balenciaga. For example, the founder of Facebook exclusively wears tailored t-shirts from a luxury brand Brunello Cucinelli.
I didn't know about those brands, but yeah, where else are they buying their clothes? H&M? I lately have a hard time to find clothes with a decent quality, so there must be luxury brands out there where rich people buy.
Just bc you saw a billionaire wear a âquiet luxuryâ brand doesnât mean most wealthy people buy this stuff. 99% of people most would consider rich arenât billionaires, and most of them donât buy luxury goods at all. Or maybe only rarely. Most rich people have money bc they donât go around wasting it.
Lies! Zuck and Gates wear Gap! The poor are buying all of this luxury stuff as a treat!! đđđ
â@@damnjustassignmeonemy mindset has changed towards money recently, having all the latest this and that does keep you poor to a extent, its all smoke and mirrors really, also alot of these companies rely on poor people also being uneducated regarding money
Yes, his t shirt costs $400.
I have always thought that designer bags were really ugly. They care more about spreading the logo than making aesthetically pleasing designs.
Wealthy folks practice âsilent wealthâ purchasing. Donât be fooled, they enjoy the fruits of their labor like everyone else. Splurging & going into debt over luxury goods is another matter.
This is a bit of a myth. Iâm technically in the top 1%, but I donât buy luxury goods at all. I drive a Toyota. My suits cost less than $2k. I donât even wear a watch.
If they are going into debt then those are not the wealthy ppl he is talking about.
I disagree with his statement about Elmo musk, Mark Zuckerberg, and Bill Gates, not dressing nice because they don't need to due to everyone knowing they are wealthy, no, most wealthy ppl don't spend on luxury items to show off their wealth at all, that's how they became wealthy.
The book "millionaire nextdoor" explains this.
Making a lot of money does not mean you are wealthy, it is the money you keep that makes you wealthy.
â@@damnjustassignmeoneexactly. Actual wealthy ppl don't spend money on luxury items, that's why they're where they are. Ppl confuse being wealthy with how much money you make too. If they are going into debt and living pay check to pay check they are not wealthy, doesn't matter if they make 600k a year.
â@@damnjustassignmeone Everyone, including you, buys luxury products. It may not be LV or Gucci but there are definitely things you splurge on.
Either that or you truly accumulate wealth solely to see a number go up.
@@tom23245 Itâs a lot more rewarding to be able to retire early, help my kids when they need it, pay for my nephewâs college, travel, etc. than it is to buy a Lexus. Itâs not that I donât spend money.
I have absolutely benefited from wearing "luxury" brands or dressing really top notch. However, I realised it was not the brands that made me benefit from this, it was how groomed I looked. I had someone point to my handbag I got for ÂŁ100 on sale (ÂŁ400 retail price) and ask me where I got it and guessed it cost thousands of pounds, It made me laugh. Looking well groomed, tidy, and wearing high quality (does not have to be expensive nor branded) and behaving with manners, grace and kindness will do the trick.
Facts
Your comment contradicts itself
This is kind of clickbaity. Rich people buy luxury items. They don't buy the luxury items that are "as seen on xyz" Outside of celebrity culture, actual wealthy people wear brands such as Loro Piano and they buy Delvaux bags, luxury brands that offer custom tailoring in-store. They spend money on quality, so they don't have to spend on quantity.
My income is in the top 1%. I buy for quality, but that is not the same as buying luxury brands. I canât remember the last time I bought anything at Saks, for instance. And I drive a Toyota.
Also, when you say âactual wealthy people,â who do you mean? The vast majority of people who most would consider wealthy have a few million maybe, but certainly not tens of millions. And most of these folks have it bc theyâre smart with it. I donât go around buying $10k suits (or even $5k suits for that matter). Iâve never heard of a Delvaux bag.
@@damnjustassignmeone thatâs my point. You donât go to Saks, you buy quality items. It cost more than getting some cheap shirts from H&M that dissolve in one wash. Also, if youâre not a handbag person you probably donât know Delvaux. Theyâre the oldest luxury goods maker and they donât really do mass marketing. Hence why I said wealthy people donât wear brands âas seen on xyzâŠâ theyâre non-descriptive bags and those who know, know.
@@damnjustassignmeone because you probably get quality custom made suits right? Then rewear them if you actually need a suit?
@@Senpaischick The real value of having money is not having to worry about it. Iâm fortunate to have enough for this, but Iâve gotten to this point (at least in part) by not throwing money around. Thatâs true of most people who most would consider wealthy. Maybe itâs not true of the super wealthy. I canât speak for them.
I once bought a ferragamo wallet because I am an idiot and wanted to impress the person I was with. I could have bought 40 regular wallets for the price I paid. I still have the wallet but simply to remind me never to be that stupid again.
You learned the lesson well đ
You live and you learn. I live by the I'll take the Rulp Luren version đ It's just as nice , better for the wallet, and no one can tell and if they can tell - do I care?
If you really want to impress, make a paper wallet. You can find instructions on CZcams. I made mine from a sales ad. I've had the same one for five years now; people are always impressed by it. It only cost me a little scotch tape.
Great comment, lesson learned, buddy
The only luxury I care about is buying a fucking house
When I first read the Millionaire Next Door I was shocked to find out "Ford" is the most common car brand among millionaires, and Walmart was in the top places millionaires go to buy clothes. Such a great message and thanks for the reminder not to believe everything we see on social media! :)
A million is not nearly what it used to be to be. There would be a lot less millionaires if they all decided to spend all the money they have, so Iâm not surprised that those sort of stores and products are popular with them. Money is like sand, if you are not careful how you hold on to it, you will find yourself with nothing before you realize it.
If we agree to define "millionaire" as someone with assets totaling at least $1,000,000. That can mean the value of their home, 401k, savings account, investments, and belongings added together, equal or barely surpass the million dollar mark. Someone in this situation still needs to be careful with their money. It's the *multimillionaires*, folks with much more money, who can afford to splurge and spend on luxuries.
The Book was originally published back when $1m in assets was a relatively rare and significant sum. The point still stands that normal, wealthy people drive normal cars and don't blow their money on depreciating assets. They recognize the true costs and values of their purchases.
@@alberttang6955Trust me, most people with several million in net worth donât go around buying luxury goods either, at least not often. Sadly, most of the market is lower and middle class people.
Walmart is a dump
Great video! The only note Iâd add is that the âlowerâ class and middle class consumer debt is from more than just luxury brand spending or âkeeping up with the Jonesesâ. According to the stories covering consumer debt, people are living paycheck to paycheck as their wages have not kept up with inflation or the cost of living in some cases. And most people canât afford to budget to accumulate $1,000 in savings. Families are using credit cards to buy gas, groceries, eating out, and for emergencies as well. Luxury spending is much more a phenomenon for people in middle and upper middle class than lower or poor, because of the disparity in access to disposable income or credit.
My cousin is a photographer and she did a testing shoot for Dior. She got a ton of free merch that was either last season, prototypes, overstock, etc. The model she was photographing got a âthank youâ bag with tons of random items and she even got to keep the dress she was modeling. Celebs donât usually pay for luxury goods.
actual luxury brands aren't for poor people, they don't even know it exists
Iâm technically in the top 1%, and I can pretty much guarantee I donât know any of these brands either. I drive a Toyota after all.
Nah. That doesn't fit their black shirt narrative. Poor people buy all the designer brands. Who is trying to pay rent and utilities when the new Vuitton watch just dropped?!
@damnjustassignmeone, how many times are you going to make the same comment that you drive a Toyota?
Also, you seem to have made it your mission to reply to every comment I make. Really odd.
"You got gucci, but you sleep on an air mattress."
I buy more expensive stuff hoping it will last longer and work better than a cheaper counterpart. nothing more
Same
I used to pick orders at Amazon and I spent 8 hours picking luxury item orders one day and at the end of my shift I saw the trailer that my orders were put on, pull off the dock and I saw that it was a trash trailer! I was so mad and I asked why don they give them to us (the employees) and my supervisor said it would bring down their value (the clothing brands). And they dumped the clothes inside of a massive indoor burn pit where the DEA destroys drugs so that no one ever sees. So if you ever see a trash semi TRAILER leaving Amazon and not a dumpster trash truck there's probably luxury items on it and the driver doesn't know it.
I buy luxury goods when I hit some sort of milestones. I remember getting my big boy job and getting an LV wallet and then a cartier tank when I turned 30. Prob the only luxury goods I've own.
As a top 2%-er on net worth, i don't buy luxury goods. I save and invest and have no debt. Retired at 55 with millions. 16 year old SUV that runs great, too!
Everybody looks at celebrities and billionaires, not the millionaire next door. Thatâs why people get it in their head that rich people go through life throwing their money around. Anyhow, yes, Iâm in a similar situation. Not retired yet, but Iâm fortunate to have more than I need. And I drive a Toyota.
I buy luxury watches and luxury car. 35 and a centimillionaire
Surely you have a plan to spend a bit more lavishly for retirement? People who retire early with over $5M have technically fatfired and usually like to enjoy their retirement by spending on things that matter to them.
@@cap4life1 Of course. I live very nicely. I just don't buy luxury goods. I travel a lot, mostly flying first class and 4 and 5 star hotels. I'll eat out anywhere I want whenever I want. Gamble. I live in an upscale community. But I won't buy a shirt for $100 (I'll get it for $19 at an outlet). No jewelry, watches, or 50 pairs of shoes, things like that. I spend on pleasures, not material things. I already bought the "things" I need.
â ââ @@paulj2948Hell, you could just fly economics and save more money and rent a whole apartment. And seriously, I wwould rather spend the gamble money on custom made shirts and suits. The point is, everyone has a soft spot for the most stupid shit, so donât judge.
If you're charging a $3k bag and not paying it right off, youre poor and can't afford it.
Does that apply to other things like a car, a house or going to college?
Iâm technically in the top 1%. I drive a Toyota and paid cash for it. I firmly believe most middle class people should not be wasting money on new cars. Theyâre just too expensive these days. Also, if you have to take out a 60+ month loan for a new car, you probably canât really afford it.
@@vonettadevo Those are needs, not wants. Those big ticket items are necessities you can't get around financing. However, if you have $200 in your bank account and you charge a handbag on a credit card for $3,000 and pay off installments at %18 interest, you're financially illiterate (not to mention broke and putting yourself further in the hole).
@@paulj2948I was trying to understand your overall philosophy on spending. I know a luxury handbag is not a necessity. But people buy things they canât afford. Some folks think you need to pay cash for everything or you canât afford it. Including a car. And if you have to take out loans for college, you shouldnât go.
@@damnjustassignmeone crap.. you have spammed the comment section with claims your at the top 1%. Are you seeking some sort of validation? I can be wrong but people at the top 1% won't spend too much time claiming they are in the top 1%. Just my 2 cents.
UHNWI and HNWI certainly buy luxury ⊠not everyone will recognize the brands but they spend a great deal on their homes, transportation, food, vacations and hobbies.
Itâs not the luxury brandsâ fault. And the American dream is not âout of reachâ itâs that people keep buying crap they donât need and thereâs more crap to buy now than ever before.
luxury only got accessible to people cause of social media. during 80s, 90s and early y2k you only get influenced through magazines and celebrities wearing them. i mean i didnt know even what luxury brands were when i was broke broke.
Luxury brands make such gross looking products. I don't understand why anyone would want them- especially for the price. đ
Ikr!! The prints are hideous, paying thousands of dollars to be a walking advertisement.
My pet hate is LV, their handbags look like cheap Chinese knockoffs.
I shop at factory outlets and scored a 1k suit for $180AUD. I also had a number of co-workers this week comment on my Coach tote that fits my laptop and lunch box on how luxurious it was. I proudly said it was $400 after 60% off. If you know where to look you can get top quality brands that don't have their labels all over it for crazy mark downs if you hold off and shop the sales. My best trick this year was clearance Julius Marlow (?) Shoes 5 pairs at $50 each down from $150+
In Australia due to import exclusivity everyday brands in the US like Tommy,CK and even American eagle are marked up crazy. I only buy on discount.
Love shopping at Melbourne outlets đ
My wife and I have a net worth over $10M. We don't own a single luxury/designer item. We Live in a middle class neighborhoof and shop at Walmart and HEB just like when we were young and broke. Neither of us has any interest in buying anything Gucci, LV, or whatever. We're too sensible to spend so foolishly.
Great content! Very relatable and too many people that arenât truly wealthy are wasting their money on luxury when they should be saving and investing their money into longer term investments
I realized this a long time ago when I started working as a business manager for wealthy people. They spend very little on luxury items. Most of them will only spend money on real estate and investments.
How can broke people afford to be fake rich? I'm broke and cannot afford to be real broke.
They can't. That's the point.
Creditcard my friend
They coined a term-bougie brokĂ©. Which I think means you canât save a down payment but have a $60 candle on your coffee table to make yourself feel better.
Hereâs an example: A friend of a friend who works at ihop (and has 3 kids) spent her tax return on brand new Louboutin heels and an LV bag last year. Thatâs how. Or debt. (Only talking about people who canât afford it).
@@mmajinn I didn't think about that. I don't have one. If I don't have the money up front for something, I just go without.
Also take into account that brands like LV have high resale on certain collections meaning someone (probably middle or lower class) will buy it with the whole intention of reselling it later on while most arenât worth the investment some pieces age like art and increase in value a lot over time
Luxury Splurge Problems* - great video
Insightful. Nice.
Iâve been seeing a lot of young people where ESSENTIAL lately is this a luxury trend
Interesting....đ€ Buy what you need and save enough money to buy what you want that not only value, it will last long.
Thank you for the information and keep it up! đđ
Nothing wrong with luxury brands if thatâs why you like. Why are we brand shaming people for content?
đđŒđđŒđđŒ âmanufactured exclusivityâ
Something that gets glossed over by this video and by others on YT discussing the higher end brands is quality. I went and bought a backpack that looked like something by Jansport/Eastpak, no brand, and was 1/3 of the price. 3 months later I had to buy another one, and 3 months later I bought a proper Eastpak backpack that lasted me years because of the quality of the brand. Likewise with something like Supreme and their tees and underwear - they last forever compared to fruit of the loom stuff that falls apart relatively quickly and doesn't feel heavyweight. The Diesel jacket that my in-laws bought me has lasted 5 years without a single tear despite me wearing it a LOT and washing it when I need to.
Boots theory in action. I could care about labels but I believe in buying quality. Sometimes its hand in hand. I buy CK underwear, why since I'm a 50 something married guy, it doesn't sag and stretch out like cheaper brands. I would spend a lot more in the long run replacing cheaper and be less comfortable than buying the Calvins. I also found their dress socks don't lose their elastic and start to sag near as quick as the cheaper stuff I used to buy and I am so over saggy socks.
Buy it for the design and quality, not the status, and do it in 2nd hand stores. Not every high end item is of good quality, so train your eye to identify good craftsmanship.
Hi. Great insights. What is the name of the study conducted in 2021, I like to read it?
Misleading. You think the VIP clients at Hermes and Chanel are broke just flexxing? You clearly do not know much about these luxury fashion brands. Of course there are wealthy people that don't like to show their wealth in materialistic goods, but the broad generalizations are not correct. Ask any sales associate at these high end boutiques in any major city - their clients broke college students in debt to million/billionaire executives and their spouses.The client buying the gucci bag and the client buying the hermes couch are NOT the same socioeconomically.
Great video, people often live beyond their income just to look rich.
Different question, I like your glases, where are they from? :)
You canât fool intelligent and savvy people.
I feel like luxury goods are shallow and materialistic. I know I'm being judgmental, but it's all advertising and fake impressions.
I buy luxury brands... at a discounted Tj Maxx price đ
This is the exact stuff a broke person would say.
Nice video. Loved the way you segue to the next video.
Great video but 50/30/20 always blows my mind. Allocating more to wants than saving seems odd, but it could just be me.
Great video!!! Iâm not impressed with logos, I buy quality onlyđđđż
It is not luxury; it is simply obscenely overpriced.
Everytime I see âluxuryâ name brand. l think its fake or the person has poverty mentality desperate to show everyone they not poor.
I'm from INDIA and our royals never bought branded stuff. Before independence they were the rulers who often visited Europe but not once they came back with any luxury goods.
The only luxury brand they flaunted was Rolls Royce.
Elites always prefer custom made things and they never tell you names of artisans
I know many rich people that wear cucci, hermes and other brands. Itâs about the person and what they like to wear, how do you think poor people can afford louis vuitton if they donât have money.
Well, style is not correlated with a price tag.
The cut, colors, meterial & the body underneath it makes a good look.
Almost all brands are mass produced in Asia. They make according to the manufacturerâs specifications. âKnockoffsâ are basically the name brand item with cheaper materials that hold the item togetherâŠ
This is a great video!
Fascinating insight into the psychology of luxury goods consumption by non-wealthy demographics! It underscores the power of branding in shaping consumer identities and aspirations, even beyond the traditional affluent markets. đ
where is link to your spread sheet ? ultimate goal tracker
I don't entirely agree. What IS for broke people are things like the daily Starbucks latte and eating out for lunch all the time. Being frugal in your daily life and occasionally buying yourself something luxurious which you will own for a long time, is perfectly fine.
You're probably broke
@@quidproquo82 I'm wondering why you would say that.
I agree. I own a ton of luxury items paid for with my own cash, zero debt, but frugal at the same time. I mow my own lawn, cut my own hair, clean my own house, cook my own meals and make my own coffeeâŠitâs all relative on how much you earn and how you save.
Pineapple Pizza???? THATS ILLEGAL !
Thank you for this video â€â â â đđŸ
china folks love luxury brands
Not just China, Americans, Europeans, Japanese, Koreans, Middle Eastern citizens and others as well. There are more Chinese middle class buying these because its total population size is a lot larger than other countries.
The emptiest can makes the loudest noise
People buying latest iPhone that cost more than their salary to show off
I'm wealthy, and I would happily pay more for products that are clearly better and more durable, but I don't see it. Above the cheapo level, it seems to be pretty much all the same, except for some goods that have a "professional" or "commercial" grade.
says the guy with the Herman Miller chair in the background...lol
What if people have extra money to waste? Thatâs what I never get about videos like this, they never mention the average consumer who has room to waste their finances on trivial itemsâŠ
if you are going to buy luxury buy rolex and that hermes birken bag they go up in value over time louis vuitton retains their value also
The study isn't accurate. During COVID , luxury brands captured a lot of discretionary spending. Since interest rates went up and people can travel that trend hasn't continued.
Excellent video.
The most luxurious things I have are my porsche and patagonia crap, but compared to my saving and income both are dirt cheap. Forgot I own apple crap but that doesnât apparently feel like more than a few dollars either.
Great Video đ
âI got some money that needs spending on some expensive trashâ - Carl Johnson
Lots of people talks about this. But doesn't hurt to talk about it more.
The only luxury worth having is early retirement.
the thumbnail, when this is the 1000th video going over the same subject with the same script xD
None of the brands mentioned are considered luxury, discreet brands; if you don't know, you don't know.
All the genuinely rich people I know of do not buy many obvious garish brand names (when it comes to clothing at least). If someone dresses head to toes in brands you know they're desperate to be perceived as wealthy.. whilst clearly they havent actually looked at what rich people in general buy. Most rich people are actually understated with their style.
I love your videos!
You forgot to mention expensive branded clothes which are also luxury brands such as Adidas, Nike, Kappa, Puma, Champion, Converse, Vans, Levis, Guess, Gant, Tommy Hilfiger, Peak Performance, Helly Hansen, Nordic Face, etc. These are also brands to be careful of. But you still shouldn't fall into the trap of cheap clothing chains and fast fashion like H&M, Jack&Jones and New Yorker, because too cheap is actually expensive due to the short lifespan.
So true! Loro Piana and Brunello are the true luxury brands for the actual rich peolple
Nobody is talking about this? I've seen dozens of these "rich people don't buy luxury brands" video essays in the last 6 months.
It does seem like a person must have some insecurities if they decide to over spend to get validation from other people that they should not care about.
What you're essentially saying is that luxury brands are in a race to the bottom. Because the middle class is being hollowed out, reaching everyday people basically will mean a veneer of luxury which is a hollow shell. The decline of Gucci to the bargain bin should be a warning for aspring "luxury" conglomerates.
If you've got older money, you don't want to be seen as gauche.
These brands trying to sell to everyone...but still trying to keep that aura of exclusivity. LOL.
Overspending is a major porblem
Luxury Splurge Porblems đ
Jfc the economy isnât in a downturn- itâs been rocking since 2021
I rather have a paid off house
Man, I wish I was poor enough to afford that stuff. Iâm poor enough to pay student loans and barely provide for my family despite working full time.
Yeah I never really used anything that is that overpriced, unless it was for free. It just doesn't make any sense at all to pay that much for something that will take more work to keep clean, than what it's worth actually.
The video is well organized but I think there are too many nuances that are missing. LVMH also owns Sephora and Hennessy so they have a reach here several different segments of consumers.
Each brand has a different market they are trying to reach and luxury has its own levels. Different products they are selling also connects to a different client segment. Sunglasses, accessories, and handbags are usually reaching an aspirational client who wants to flaunt their wealth with easy indicators and items they can use repeated while as ready wear clients are usually wealthier and have the ability to buy a 3k sweater they will only wear a few times. Louis Vuitton and Gucci are going to appeal to the masses because they are super recognizable but different brands such as Loro Piana donât have the same approach.
Luxury in itself and has too much nuance to put such an easy blanket statement on it as you did and I think itâs something to consider.
As a luxury client advisor myself most people who work luxury retail have that attitude because those in the lower and middle class are the worst people to work with because they act like they know everything about the brand but canât afford it. They will try to return items, they will spend hours in the store, they will be rude and disrespectful to you so itâs not worth our time to spend hours dealing with disrespectful clients who canât afford it and as a result we are more reserved with our energy. Hundreds of people walk into the store everyday and we have learned that putting our all into everyone isnât worth it. Especially when these people act like they are above you when quite often these sales people make a decent living.
There is a typo error in luxury splurge porblems
Hermes did it right. Make what you have sacred and exclusive. Then put it behind a pay wall, so people have to invest not only money but time. This is why I believe they are so highly valued. Plus they actually do a good job at producing quality products. You have to buy multiple Hermes items with a Hermes sales associates until you made it onto the list for an Hermes bag. And when you get the bag it was a you get what you get and donât get upset. But you had a bag, and that meant you were one of the selected few who could afford it.
I know theyâre being sued now, but their business model works. You want something that is good quality and exclusive.
Tbh many people are talking about this. I've found that so many youtubers are making the same videos about the same topics and making all the same points.
Rich people do buy those brands but it's different than what one would assume.
This is what i have realised after being on social media and following fashion and lifestyle influencers and models for a long time.
Many are escorts to rich people and rich people buy those luxury goodies for their mistresses and other promiscuity partners.
So while rich-rich men may not always end up using those products, they do end up spending on those indirectly.
Rich-rich women do buy those products especially those who have ancestral wealth.
REALLY rich people have their cloths made custom for them from raw cloth. A bespoke suit made to your personal measurements costs about $20,000
How exactly do they track this. Nobody asks me anything when I buy things. Interesting.
I'd rather by LVMH stock than their product.
oh yeah, my brother love for BMWs (constantly renewing leases and then finally settling on buying one that cost just short of my condo price) is actually dead broke. the prestige is all for appearance, it's all part of the save face show off Chinese culture.