🚨The Luxury Bubble is BURSTING🚨 Louis Vuitton and Gucci Struggling! Miu Miu SAVES Prada
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- Опубліковано 30 вер 2024
- It could finally be happening: The Luxury Bubble is BURSTING! We're seeing indicators that LVMH with Louis Vuitton and Kering's Gucci are struggling. In a shocking twist, Miu Miu propels Prada's Q1 numbers and saves the day! Quiet Luxury saves houses like Hermes, Brunello Cucinelli and Zegna! All bets are off for Q1, and lots of fashion and designer tea will be spilled.
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This year I'd love to add more pieces from Hermès like the Birkin size 40, Constance, 24/24 and Bolide. Maybe I'll be bad and get an Hermès Kelly 40! I also recently fell in love with the Chanel Jumbo- so that's kind of a must-have for my collection, along with a Chanel Mini Rectangle and a Chanel Reissue. Aside from those, I'd love to add a few more Fendi Peekaboo bags to my collection along with a Fendi Baguette. Make sure you subscribe to see what I buy this year!
If you're into channels that include luxury fashion, shopping, luxury unboxings and reveals, luxury travel, and daily vlogs- basically anything that has to do with life and style, then this is the channel for you! We'll often talk about my collection which includes Louis Vuitton, Balenciaga, Gucci, Fendi, Hermès, Coach and YSL. We'll also look at current trends and upcoming releases from each of the houses.
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What are your thoughts on current state of luxury fashions? Do these number surprise you?
Not really. Given the price increases and the true lack of design. Everything is a gimmick right now and it’s sad.
Share support subscribe 🐾 4 the Kings 👑 of afternoon luxury 🍾🥂🍾🥂
@@ZaneAnderson1The price increases are a huge factor in putting me off!
@@danielintheantipodes6741 💯
Hi Caleb! Great video!👏🏻…..number one thing I hear from my luxury clients is the price increases are just not worth the product anymore… ex. A client purchased a like new LV brazza wallet from a reputable preloved site for under $190 when a new one she said is $700. Also hearing some houses are bringing too many new collections too fast and my client said, some of them look non authentic bc the fakes are being made just as fast….. and the collections are not as special as they used to be back in the day for ex. LV murakami multicolore collection. All in all clients and myself are not surprised at your findings. Cannot wait to see your dream bag unboxing😃🙌🏻😃
It’s more like price increases fatigue. I mean it’s hard to justify a 4 / 5 k bag when there is no real innovation involved and the craftsmanship is subpar.
Exactly! I think many people are feeling the same way!
I agree all these brands have made these bags way too expensive
The materials are the same or worse for triple the price
Not even brass hardware the bags are made with cheap materials.
Like we consumers are stupid when it comes to spending on luxury. More money for inferior quality doesn’t vibe. I no longer step into designer stores, I often walk out dissatisfied. This coming from a luxury shopper for 3 decades.
@leebeaute @deandravr @bagsandlifestyle is it just me but the bag math is just not mathing anymore, 1 syringe of filler is about $700 with my dermatologist fee & that last 12months but it went through decades of Research and Development + someone’s medical training ….. and an iPhone is about $1000 and that has so much tech packed into it and enhance my productivity. Maybe I am getting older and my priorities have changed 🤔
Great video! I’ve been a luxury bag lover and consumer for more than twenty years and I worked in luxury fashion for years (operations). Also, it’s what I grew up around in, so it’s what feels familiar to me. Something critical has changed in the luxury good market. Especially in the past five years, the vibe has been feeling so wrong to me, for the first time. It was always superficial and frivolous, don’t get me wrong. However, the constant, insane price increases gave it a distinct sick twist. As if they’re challenging the consumer to renounce all reason and respect toward money and instead to worship a product that doesn’t provide what it should: the premium quality that lasts and lasts and works for you, not the other way around. That’s gone. I’m very intrigued about the future.
This was a really good point, and I agree with your comment regarding the price increases and the sick twist that associates with it. It’s sad really
So sad to see this demise, luxury shopping hype 20 years ago verse now does not compare.
I am not surprised at all. I agree with you and your points. I am a lover of handbags, but lately I am just not excited about anything I’m seeing. Why dish out thousands of dollars for low quality “luxury” bags. It’s underwhelming.
Exactly!! If the designs and quality warranted it, I’d be more open to spending the money, but the quality and designs are a bit boring.
Totally Agree, I’ve switched to jewellery
Not surprised at all. Especially with regards to LVMH. I came to the realization recently that they are the fast fashion of luxury. They keep releasing mico collections every few months? They have hundreds of bag designs available for sale at any given time. Is that luxury? I think not. That, along with overall quality going down, I think I would rather save for that one special piece than purchasing the flavor of the month that will invariably go out of style sooner than later.
I couldn't agree more with your comment! And you're right- LV releases WAY too much product to be perceived as an exclusive luxury brand. It's like they're trying to make their next IT bag, but in doing so- they're pushing so much stuff out to the masses.
I agree they are just doing the “throw it all at the wall and see what sticks” method and it shows. A lot of not well-thought designs and many that are similar to one another. They should reduce down their offering and have less but carefully considered releases that are actually unique and special.
I think a lot of brands forgot how to make a bag functional too. I’ve been shopping for a few months now. I carry just about a half dozen small items, hate anything too large or heavy, and have always been able to fit it in a small bag. They way they are designing these bags I can’t get anything more than a card case in there. Many I can’t even fit my phone and car key too. I am making due with my current one for now.
That's so true! The tiny bag trend really took over, and I'd like to see some bigger more useful bags again!
I think the prices have just gotten out of hand. Not too long ago luxury sneakers were around the $500 mark. Now they are close to $1000 or more. For sneakers….. why would I spend $900 on D&G sneakers that I can find second hand for $150.
Luxury brand pricing has gotten out of control and it’s time for something to change.
That's so true!! I remember watching SATC when I was younger- and they were all shocked that Carrie's shoes cost $400- what I wouldn't give to buy shoes for that price again!
Right on all counts! I'm not surprised. Also, like for me for example, where am I going to wear such brands-- to go teach college kids or to go buy milk and eggs from the supermarket. You know what I mean? Great topic and video Caleb!
Thank you!! And yes, we wish luxury brands made more wearable and useable pieces!
Great analysis!
I’m not surprised at all, although Gucci is still 😮 The luxury boom was never sustainable.
Frontline luxury workers I know have reported zero sales days, pressure is building on them daily to meet quota.
Could the good old days of slow luxury and fewer drops finally be coming back? The saving up, the anticipation and giddy excitement of only one or maybe two purchases a year. IMO that’s what luxury should be ❤️
Thank you, Melissa! Zero sales days!? Wow, that has to hurt. I would appreciate fewer drops, and the chance to save up for a new bag- I miss those days. Now you almost have to save several drops in advance because they sell out so quickly- it's a shame!
Totally agree with you except with your hot take on YSL. Of all the Kering Group's brands, YSL has always been the most wearable.
I’ll agree with you there, it’s definitely the most wearable. I’m just ready for something new and fresh.
Anybody else notice that Caleb always redos his background with his bags!! I’m here for it!! Love it ❤. And and I’m gonna keep it real. I’ll always love Louis Vuitton , but with all the price increases and the quality issues. I’m probably only gonna buy vintage now. Just saying
Thank you, Allison!! I always try and make the background match the topic! And I agree, vintage is the way to go!
@@CalebSnell yeah I noticed lol love that I think today is my favorite
I’ve been thinking about something similar lately. I’m currently in the process of glowing up my wardrobe (lol) and I bought a fun Celine mini boston bag and also an LV Alma bb for a subdued classic I can take to work without much fanfare…. But to be honest, I’m spending most of my money on the mid-range/contemporary brands because their styles are more inspired and feel less stale. I’ve had 5 or 6 different Mulberry bags and they never feel dull to me. Same with Strathberry, Polene, Senreve, and even Coach at times. They all have fresh looks and I’d rather spend my money on fun styles that give off a “new” vibe.
That’s a really good point. The designs just feel uninspired lately, which is a shame at these prices.
Yes! I have been looking at those brands too! I just bought the Mulberry version of a pillow/puffy bag (along the lines of the YSL puffer). The quality is better and I’ve not seen another person in Dallas with that bag. I just feel more unique and wearing the bag feels more special.
Burst away I say! 😂 hopefully prices come down but unlikely 😢
Hahaha we can dream!
Love this analysis! I agree with all of your points, especially your comment about the economy. People seem less likely to spend on luxury during periods like this, which makes sense. I know people who are struggling to afford basic necessities right now. We are even seeing a drop in spending on other luxuries like salon visits, lashes, etc.
Thank you, Millie! And that's so interesting to hear about the salon aspect with the economy- it kind of reminds me of the 2008 financial crisis.
love that you're covering this! i've always been interested in the industry side of things when it comes to my interests, whether that's billboard charting for music, boxoffice statistics for movies or how the fasion industry works!
Thank you!! I definitely plan to keep making more content with the business side of fashion!
@@CalebSnell oh yay, so happy to hear that! :D the way the industry behind something we love works influences the end products in some way, always - literally kpop songs are overall becoming shorter because it increases their streaming numbers so the songs chart better on spotify, e.g. - and i wonder if a similar thing has been happening here, like, less interest/highter CoL, some of the big brands/groups have than had to cut costs on production and design and play the "short/fast" game to reassure stakeholders, the quality of the product and the experience declines, consumers either remove themselves completely or go "higher end" to the brands that have stuck to the course, so to speak. Just, the dynamics are very interesting.
Prices are way too high with this economy it does not suprise me🤔.Caleb thank you for sharing
You're welcome, Devonne!
It wasn't too long ago, as recent as 2012, that Gucci would have a once-a-year on-line sale on certain items. I would have a blast, buying handbags for $600 and Gucci caps for $85.
Then Gucci brought on a new creative director, became popular again and became too good for those annual sales.
It's so sad to see where the luxury brands have ended up. And I remember those Gucci sales! That was a fun time!
Have you been hiding under a rock ?
Who is the main target for these brands.... poor people. Rich people alone can not keep these brands afloat even if they tried. Low income earners far outweigh higher income earners when it comes to spending..... if you haven't noticed the cost of living, then i don't know what to say to you.
No one worldwide is spending like they used to because the cost of living has almost reached the delusional point.
I think I said some of this in the video but in a nicer way.
I’m not surprised with the way the economy is, the rich aren’t rich from spending, they are hanging onto their money just like everyone else. I’m priced out of the big luxury houses for a decent sized bag, I’m not willing to fork over 4k plus. I’ll be patient and pick it up on the resale market, I’ve had my hay day in the boutiques years ago, I’m not looking for that experience. Of course I love vintage. My hubby loves Coach lately, he calls it, “ Poor man luxury “, ( safe space he is only joking because of that whole Coach luxury debate ) he’s bought all the silhouettes he loves at an affordable price and the quality is good, he still loves his LV but his Coach collection has grown a lot lately!
Exactly right, Laurie! I'm the same way- I'd rather save my money and buy preowned and a get a great deal on something fabulous! And I love that about your hubby! haha, and I love that joke about the Coach luxury debate- safe space! 🤣
The brands need to make more of their new collections. For example, LV ‘s Pharrell, Tyler the Creator and flight mode collections sold out quickly.
That's true! I'm suspecting they're producing less volume of these collections so they sell out quickly and create hype and buzz around the products.
Caleb. I think it’s the economy. You are 100 percent right.
Thank you, Kris! Interesting times for sure!
I've actually been buying vintage Kering brands lately! I picked up a vintage Balenciaga Town, First and City. And a vintage Gucci Jackie and Pelham pineapple print tote. They have so much character and at a fraction of the price of today's handbags!
I couldn't agree more- vintage pieces are much more fun and interesting compared to buying new. And I had a huge vintage Balenciaga phase- those are really fun bags to collect!
Kering is a very 'logo' heavy conglomerate. And right now.... the majority dont care for a huge logo or monogram. Plus, majority of people ditched Balenciaga
All great points, Holly!
Cuccinelli is a mediocre quality and design with big $ tag .. hurrendously overpriced
Maybe we'll get a good bargain
We can hope! 🤞🏻
I think the whole luxury industry needs to have a complete makeover and they need to go on the street and do good research. Buyers are tired of paying big money for the same thing over and over. Quality is going down and prices are going up, you do the math. Buyers are not stupid. They need to realise that times are different, and their target costumer priorities have changed. Maybe I'm wrong but I am very reluctant to spend money on any of the "new" collections, if you can call them that. TFS
Exactly! I couldn’t agree more, Gloria! The prices are going up, but the quality isn’t keeping up. It’s truly a shame!
This was great. I had no idea, which is why I rely on you & your content to break it down for me. I’m fatigued by the price increases. Some of the mid-range luxury bags are to die for- quality, craftsmanship, durability. I much prefer finding a better price on the resale market.
Thank you, I'm glad you enjoyed it!! I'm in the same boat- I prefer a good deal on a preowned bag- the hunt for preowned is more fun for me than buying brand new!
Interesting data. With the availability of preloved luxury items, many are forgoing new for vintage pieces. Also the costs of production and maintenance and staffing of physical stores limit potential profits. There are over 1000 LV shops in the US vs ~50 Hermes or Prada boutiques. Still navigating this luxury space and always appreciate your perspectives - TFS!😊
Hey ChiGuy! That's a really good point with the cost of brick-and-mortar stores and the cost to run them- I hadn't thought of that!
Very interesting, creative directors can't overcome price and desires. Today, Tiffany announced Pharrell's new designs they are so not what people in my local store would wear.
I totally agree GinKat- the new Pharrell collab was rather disappointing
But. Here's the thing the LOVE of vintage cool wonderful practical LV is what it's all.about. 25 year old LV.blatant monogram seen in the wild is super uber COOL! I where my ancient Palermo or my old. Amazone and people want to.learn about it. The history and incredible quality matters. I was in.LA.today.and ran into a. Very.cool.chic grounded 20somthing fashionista who was head to toe elegantly dressed in black.amd.white and a fabulous.real.channel cross body..I asked.and she said it was.my.grandmama's.. I don't know which bag it was as I am.not a chanel.bag lady, but it was so.lovely and meaningful!/LV at..least.gets nutty with their new bag fashions tho they are stoopid over priced.
I totally agree! I love when I see a good vintage LV out and about- it's definitely very chic!
Prada has always been my jam, but I’m still not into Miu Miu; even though I want to! lol. Also agree that LVMH has been safe-guarded because of their giant portfolio for sure!
Same here, but the Miu Miu Acadia bag is really growing on me!
People want artisan made one of kind luxury items, hence why Hermès reigns on top. Unfortunately, LVMH/Kering have become the luxury version of fast fashion, and people are not going to spend thousands on a sub par-mass produced item. GUCCI needs Tom Ford era marketing strategy, also less in their product line. In my line of work, our Gucci glasses sell far less than Tiffany, Versace, and even Coach/Tory Burch glasses. TBH alot of other luxury brands are just more innovative.
These are all really good points! I agree, a Tom Ford era overhaul at Gucci would be amazing, and really good for the house!
They opened a new Gucci boutique near me about a year ago, and let me tell you, it is not a luxury experience. Every time I go in, I regret it. I’m not sure what they are doing, but it’s not hard to understand why it’s not working. I think they need to figure out who they are and the type of experience that should go with their product price point.
Exactly- some boutique give amazing service with champagne and dedicated attention, and other's could care less that you're there. It should be a more uniform expectation.
Disagree on Balenciaga and YSL
I’m LOVING quiet luxury. It’s humble and the wearer feels nice. Easy to dupe with affordable alternatives. It’s off-putting to see influencers try to knock it to push consumers to buy buy buy, just so things feel fresh to you.
Good point!
I’ve always been a Gucci person over LV. Now I’m 100% OVER LV because it’s literally become the biggest bore, dare I say I find it tacky, and the quality it subpar at best. Gucci still has great quality and exceptional customer service but I’m bored with it. For a tad bit more than these brands you can get into Hermes, Bottega, Loewe etc…
I agree- so many of these more entry level brands are priced so closely with the higher end brands, it's hard to see the value in shopping with them in some cases.
I have lately found most high end style to be fairly uninspired and not very innovative. IMO, many contemporary brands are killing it with style and innovation while keeping the bags classic-looking. I also find several contemporary brands to be on the same level quality-were (even better in some cases) than the ‘high-end’ bags. Looking at you Chanel and LV. Why would I spend thousands more on a bag that is less-stylish/innovative and poorer quality??? I am by no means wealthy but make a good salary and the only high end I have bought lately is vintage because the vintage styles are still immaculate quality. People who are wealthy also don’t want to spend their money on poor quality items. I think these high end brands have forgotten that people don’t want to spend tons of money on inferiority. My friend (who is wealthy) also isn’t buying from high end designers anymore for that very reason. She has started buying from artisan purse makers and their stuff is immaculately made. High end used to be like that, but not anymore.
I couldn't agree more- we're on the same brainwave with this topic for sure!
Basically Balenciaga shot themselves in the foot otherwise they would have top spot. I’m against the whole blasting trends online and over lending products to influencers but it has obviously worked at the Prada group, I’m just no longer the customer.
I'm curious to see if Balenciaga is able to turn it around!
Fatigue is the word. I got stressed and tired doing the waiting, listening to SA telling me if i got tired of the bag i could just sell it ( its not that easy, many scams and consignment fees are almost half the price of the bag), price increase threath feels like emotional violence to manipulate people and it makes me angry. Luxury design i really enjoy and love, but im tired of the angst about quality issues, price, waiting and being treated poorly due to my melatonin rich skin.
Right!? Fatigue for sure. And the experiences don't match the price point- if I'm dropping this kind of money- at least bring me a sparkling water or something! And especially with the reasons you listed- that's a big turn off!
Im not surprised for Kering at all they need to get their things together because they haven’t been giving for a while now, LVMH should be grateful that they are pretty much doing ok considering we are in a recession rn it could be worse. And honestly im not super surprised about Prada group because they deliver a blend of trendy, classic and modern designs with a range of pricing.
All great points, David! Thanks for watching!
Logo covered canvas is not luxury. Showing off, is now unfashionable.
That's a good point, Colin.
I feel like the price increases have hurt sales. With every prince increase less and less people can afford the goods or don’t want to pay so much for the quality. I also feel like more people are turning to vintage or preloved item. I’m interest to hear how Chanel did.
Good point! I'd love to know how Chanel did as well!
love the info yes I tried too but coach is killing it their tabby coach is shading everyone why buy Denim at LV went get coach Denim of Chanel when get a tabby
Thank you, Hamid! Yes, Coach is fabulous!
When these large companies keep acquiring other “luxury” companies what are you really buying? There’s way less reason to stand out and actually innovate since they’re just there to all make money for the same company.
Exactly! This is pretty spot on!
16-24 year old unemployed in China approximately 25%
That's a staggering number, and a good piece of the puzzle when it comes to why luxury brand desire is cooling off in China.
@@CalebSnell and the government has stopped posting the employment data for the cohort so that can’t be good.
Before the topic I’ve been looking at Prada for a long while i love the triangle logo and I am loving the mui mui bags just haven’t found my must haves ok topic at hand: I’m so glad you do these topics because I’m way out of my depth with them I guess I just like to shop 😂 I think you have some great points and thoughts i honestly think 🤔 it’s a combo of things all coming to a head but I believe it’s the constant price increase yes cost of living is up etc but that doesn’t mean the product cost are necessarily going up this much to warrant the amount of times they all increasing and the amount of percentage they are increasing. Well enough making my brain 🧠 think Caleb. TFS 🛍️👛🚢🙏🦆
Prada is a fantastic brand. I have a VERY special Prada unboxing coming this Saturday! I agree- the Miu Miu bags are great, but I haven't found the perfect one for me yet. And the price increases have gotten out of hand in recent years too!
Why buy Hermes everyone has one I stopped wearing mine because of seeing so many ppl have it also so much fake and all this housewives shows now I think is tacky 🤦🏻♀️🙄🙄🙄🙄
I still love my Hermes- and outside of social media or the housewives, I rarely see H in the wild still.
Ngl I’m happy to see the slowing down of the luxury sector. Less competition for items and more attention being paid to the customer experience by Hermès, Chanel and other brands. For example, H now offers a drink as soon as you enter rather than later in the shopping session which they’ve never done for the 7 years I’ve been shopping with them.
I won't lie- I am too. I'm hoping brands will truly get back to it being a luxury experience with high quality, and not just overpriced fast fashion.
Price fatigue
Uninspiring collection fatigue
Lack of quality
I only buy preloved now and unless it’s vintage not the luxury houses.
I'm in the same boat- I just don't see the value in buying new any more.
Where do you think Coach can fall within all of this? It’s a brand with heritage, thoughtful design/craftsmanship, and a value to boot. Do you think it can capture some of the market that more “luxe” houses have owned up until now?
I think it's times like these that the contemporary houses can really shine- but they need to bring the quality in the products, and have exceptional customer service to really capture that money that the entry level designer houses are missing out on.
They are probably losing that market share of entry level buyers as you mentioned mixed with quality changes favoring vintage. I dipped my toe into watching posh live shows recently (they can be an interesting train wreck that you can’t look away from) and have had my eyes opened to the used market in Asia making its way over here. Seems like a lot of entry level consumers who are priced out will go the preloved route. The market is oversaturated, the quality isn’t there, and there are lots of options to get better things cheaper.
All great points! And I love the live shows too!
I can no longer afford this stuff. Yes, I said it, "stuff". It's very sobering to watch so many people sell their luxury items with little to no wear. It's all wasteful.
That's very true- there is a component to it all that feels wasteful.
I love all my LV and have a mix of new and vintage but cannot justify the prices anymore.
I'm in the same boat when it comes to LV. I haven't purchased a brand new LV in store in about 3 years.
Whoa, Caleb, you've forgotten more than I'll ever know about luxury bags.🥇🥰🌻
Thank you, Linda!
I am with you on buyers fatigue! I That Celine in the light stone lizard though! 🙈😂
Haha! I could see you making and exception for that Celine- it's gorgeous!
Is it weird to say even the fakes are getting good. Thanks for the updates you give us
You're welcome!
For me it’s the prices. Asking 500-600$ more for the same bag (YSL, LV, BV) it’s just not worth it anymore. I’ve branched out to lesser known
designers - Anya Hindmarch - who have amazing quality leather at “normal” affordable designer prices and loving what I’ve found!
That's good to hear about AH- I've had her bags popping up on my instagram lately, and I'm really curious about quality. I had an Anya Hindmarch YEARS ago- but I didn't have it for long, so I don't really remember it.
I have 4 of the woven leather Neeson line, gorgeous 😊 Bergdorf & Nordstrom carry them
Balenciaga just raised the prices of the rodeo bag again.
Of course they did!
Bellwether
I can’t say I’m surprised.
💯 same!
Great points Caleb ❤😊
Thank you, Kaylhee!
@@CalebSnell your welcome