Luxury Brands Best Way to Show Your Riches #RichFamousLife
The luxury brands in your possession also reflect your social standing and wealth.
The concept of displaying one's affluence and wealth in various forms is not new, but prevalent since ancient times. The dignitaries, high ranking officials, and royal families were always in the forefront to show off their riches. The possession of luxury goods and services can indirectly show the affluence and net worth of the rich people and celebrities, and their social standing.
There are luxury brands in drinks, fashion, luggage, fragrances, watches, cars, jewelleries, luggage, handbags, and beauty products that are expensive, and afforded by few rich. These brands are essentially associated with the wealthy people and celebrities, and owning them reflects one's net worth and status in life. The high prices of these products are beyond the reach of common people, and only a very few can afford them. Buying a Gucci Handbag for $2,595 or Zafirro razor for $100,000 is inaccessible for many due to the high brand value and exorbitant prices.
Why luxury brands fascinate super rich people and celebrities, and why do they desire them?
There are few crucial points that can be cited for the immense popularity of the luxury brands including:
Exclusivity - is always connected with the luxury brand. People want to distinguish themselves from others by owning products that are not common and have limited editions, and owned by only rare few. They desire to stand-out among the equals, show their affluence and class, and desire to be recognized by the brand owned by them. But, with the time, exclusivity concept has also dramatically changed among the very rich people and celebrities. Today, according to these people, exclusivity means luxury products that have unusually limited editions, and available in the limited outlets.
High Price - is another factor that is connected with the exclusive products because when people want to buy a luxury brand, they have already made up their mind that the price of the product will be reasonably high and beyond the reach of many. They consciously or sub-consciously identify the luxury of the product or image with the increased price. The lower pricing of the product may harm the consumer expectations and also the brand value of the product in the eyes of the buyers. Therefore, premium products are priced exuberantly to meet the expectations of the elite, and also to reflect their social status.
Paucity - It is the common theory that the scarcity of a product in the market increases its demand among the people. In the same way, the limited edition of premium brands makes the product more valuable among the rich buyers, but over-revelation-and-distribution of the product make the goods easily available in the market reducing its brand value.
Performance - You may have come across cars, watches, and other luxury goods that are specifically studded with diamonds, platinum, gold, silver, iridium, etc. There are also premium products that are designed with exceptional craftsmanship, designs, rare raw materials, product quality, capabilities, and technology. These goods are unique and launched in rare quantity or selected pieces for a short-period in the market, and only lucky few can buy before these products are fully sold out.
Rich heritage - Few premium brands are in the market since a long period, and still maintaining same brand value and quality and famous in the market today, as they were in the beginning. The brand mystique inherits rich legacy and heritage, and people are known to have emotional attachments with both the product legacy and founder.
Today, there are many premium brands that are favourites of super rich and celebrities, but brands such as Louis Vuitton, Herme's, Gucci, Cartier, Prada, Versace, Jimmy Choo, Manolo Blahnik, and Tiffany & Co are the top ten luxury brands for women in the world, holding top 10 positions. These brands include products such as ready-to-wear clothes, hand bags, luxury leather goods, clothing, shoes, luxury goods, jewelries and fashion accessories, lifestyle accessories, leather, jeans, perfumes, and watches. Different brands excel in separate products, and these products are designed to stay as niche products. The maker of these brands also takes the services of celebrities for launching and promoting their products. These brands can also be found in the exclusive stores across the world.
Gisele Bundchen, Madonna, Angelina, Jennofer Lopez, Marilyn Monroe, Vanessa Paradis, Keira Knightley, Nicole Kidman, Audrey Tautou, and other celebrities can be seen endorsing these brands. The price ranges of these brands are beyond the reach of many, and only immensely rich celebrities with high net worth can afford these luxury brands. Anybody possessing these brands can find themselves among the select group and the feeling of belonging to that special group alone can distinguish you from others, and provide you with an experience of prestige, luxury, satisfaction, and distinction.
Source: Franks Ross
