30 March 2008
I have just started reading "Deluxe: How Luxury Lost Its Luster" and I'm still only in the first or second chapter (sewing sewing sewing...) but it's quite an eye opener.
I own three Dior bags and a Dior wallet. I doubt I would own even one if not for someone sneeking me into the Dior staff sales a couple of times. The bags retail for around NZ$2,500 each, but I paid a quarter to a fifth of that price for each. Louis Vuitton owns Dior, and it is stated that LVMH mark their bags up at around 13 times the cost of production. So a $2,500 bag really costs around $200 to make. Wow. As my sister told a passerby, who was ooohing over her Dior bag, you're better to spend your money elsewhere on something better made.
This book is worth a read and might make you rethink those IT bags, if you are one who hankers after them.
Mind you, all these fashion houses started off as one-man or family operations, everything being made with expert craftmanship, and all by hand. Now? Mass-produced, often in China. How time and money changes things.