Luxury brands offer a range of products which are priced just high enough so everyone can feel that they are a part of the elite fashion market, yet the pieces they’re paying are more affordable. The luxury brand has been around since the 19th Century, therefore it is new to the world of fashion. The luxury market is run by many different groups, LVMH, Kering and Richemont; these allow the groups to distinguish the level of luxury which the brand is offering. Unlike Couture, there is such a range in the entry level, that it really cant be distinguished; from brands like Louis Vuitton, Gucci, Prada, Burberry and Hermes, there is such a range in their individual entry levels and prices. The target audience for luxury products is aimed at the younger generation to attract them into the market, however 76% of the buyers are aged 35-54, who can be found in social class A, which the majority will earn over 100,00o per year. Within the luxury market, China is the largest consumer of goods. On the other hand, 99% of Louis Vuitton’s products are fake throughout the world, meaning that at the end of the year, he burns all of the leftovers to make sure that the desire for his work doesn’t loose the luxury value to it.
charlotte joy 