How Luxury Lost Its Luster
In 1858, Louis Vuitton introduced his flat-topped trunks with trianon canvas. Before the introduction of Vuitton's trunks, rounded-top trunks were used, generally to promote water runoff, and thus could not be stacked. This meant it could not easily be stored in trains which was the preferred mode of transportation for the elites. It was Vuitton's gray Trianon canvas flat trunk that allowed the ability to stack with ease for voyages.
Vuitton trunks were hand crafted with innovative decorations and use of material. He could sell his trunks for high prices. The high prices were justifiable. The material Vuitton used were new innovations, decorations were mind boggling and it was more practical than the competition. It ticked all the boxes for a truly luxurious product.
Fast forward to 2019, Louis Vuitton is the most valuable luxury brand in the world. It's revenue were upwards of USD 10 billion generated from more than 460 stores worldwide. They still sell trunks but that is probably the last thing that pops in your head when you think of Louis Vuitton or, let's say LV.
These days, People spend outrageous amount to get their hands on the newest LV handbags.
Last time I was window "shopping", I saw one with a price tag of $2000. I looked at the product carefully and with my knowledge from experience and the book Deluxe by Dana Thomas, I estimated the production cost of the bag to be less than $10. Most of LVs products don't cost a lot manufacture. There are some exceptions but these exceptions are not the true money generator for LV. It is this $10 bag that makes most of their money.
Brand do not sell luxury anymore, They market luxury. Luxury is no more a new innovation, there is no exceptional decoration or use of rare material. There are few exceptions, for instance, Rolls Royce are still hand made, there is use of rare material and it truly is a luxury.
But in Fashion
Luxury has truly lost its luster.
Credit: This article is based on the work by Dana Thomas. Dana Thomas is a fashion and culture journalist and author based in Paris. She has worked with brands like Chanel and LV.