In a 2015 Business Insider report, it had been disclosed that this Chinese elite now considers Louis Vuitton and Gucci bags for “secretaries”. Now this might sound far-fetched, you may be thinking why a heritage brand is offered this bad rep from this kind of lucrative market that international conglomerates want to tap in. But their point is basically valid. In a 2012 study because of the Digital Luxury Group about the World Luxury Index™ of Handbags, the Japanese share the same feelings likewise. So why are these claims sentiment growing? The reason? They are too common.
In a setting where counterfeits are actually widespread, designer brands for example Gucci, Louis Vuitton, Tory Burch, Michael Kors, Kate Spade, and Marc Jacobs are getting to be accessible to everyone albeit through fraudulent means. The seemingly elusive and luxurious bags choosing a lump sum their luster. Even affordable luxury brands for instance Longchamp and Goyard usually are not safe through the counterfeiting machinery at play and it’s also not just in China, it may be a global pandemic we turned a blind eye to. Luxury goods have invariably been a difficult to pinpoint. It is an issue that everyone wants to obtain, yet financially detrimental to accomplish this, a minimum of to the lower and middle class. So what is it about these goods that everyone would like to get their on the job them? For one, they’re a status symbol, synonymous with power and wealth, a trophy involving power plus the people from your lower and middle class usually wish to experience an idea of that power even if it means faking it towards the top. With this premise, this is a lucrative business selling this insatiable desire. And it’s damaging for brands plus the people active in the creative strategy of conceptualizing these goods.
But back for the mentioned brands, what makes them so prone to counterfeiting? You don’t have to perform deep dive to understand why. It is because on the branding itself along with the logos emblazoned in each and every good from the brand. It is important to observe that there are many forms of consumers when it comes to luxury goods, the marketplace is usually segmented into two buying groups: people that purchase luxury products to install in and the ones buying the goods to square out.
And it seems like the latter dominates hmo’s. Many people nowadays have shifted their preferences selecting luxury, it truly is more about subtlety now. They want you to learn that it truly is Gucci, without you knowing its Gucci. To make a statement but without really showing it. So brands who’ve capitalized on his or her logos and branding may very well be at risk here.
So just how can this be solved? As of now, there isn’t any global laws in position to protect brands from mass counterfeiting. The solution could be a design-related one with conceptualization of an more complex distinctive line of luxury items that is difficult to duplicate, but this can be easier said than done.