Luxury Brands, Why People Spend a Lot of Money to Buy Luxury Goods Essay

Luxury Brands, Why People Spend a Lot of Money to Buy Luxury Goods - Essay Example 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, â€Å"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 expe nsive 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, â€Å"Luxury brands have valid prices because they offer the best quality and whenever one u ses 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, â€Å"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 decid ed 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