How the fashion system devalues itself
Straight to the point of the luxury inconsistency: top brands stopped representing luxury. When they adopted the overproduction model, triggering a constant need for discounts, they moved in a different direction. And with the rise of ‘affordable luxury’–a meaningless oxymoron–the fashion industry has been doing its best to devalue what little remains of luxury.
Luxury: from exclusivity to mass products
Overproduction and luxury have nothing in common. But the fashion industry promoted this pattern to make more money in the name of growth and greed. Some top brands represented the last stronghold of an industry that was transforming into financial conglomerates. In this new context, fashion shifted from exclusivity to the masses.
In order to appeal to a wider audience, communication had to develop a different narrative, revolving around three points:
1- extremised concepts, just to give something to talk about
2- socialite or fashion bloggers to promote the products
3- frequent markdowns
As a result, the industry lowered its standards focusing on branding rather than providing creativity and excellent quality. The byproduct was a crass logo dependency. However, associating a logo with specific lifestyle imagery is not the same as creating well-made products. Most importantly, exclusivity and discounts are inherently contradictory.
The luxury short-circuit
Sometimes luxury brands, how they still want to call themselves, release the misguided communication, as seen in the case of Balenciaga. Consequently, fashion bloggers end up selling their products at a discount. But can you imagine who paid full price for those items? They must be thrilled to see them undersold!
Rising prices: the latest strategy for luxury
Now brands increase prices due to pandemic-related issues and inflation, but that does not mean better quality. They’re simply covering their costs. If people accept paying more, they get mass-produced items in return, not exclusivity.
What masses believe is luxury, it is not. It’s the product of an industry that has lost its consistency. A fashion industry that, without serious critique and questioning, reveals its short-circuit and inability to change.
In conclusion, communication missteps show the luxury inconsistency to everyone. And you don’t even need to be a fashion insider to understand it!