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Fashion and society
Consumerism relating to fashion
Fashion and society
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The world of fashion is an exciting one and people have become a part of it (Jennifer and Kim, 2010). Fashion is a word that can mean different things, to some people it means what celebrities or models wear on a public event. To others, fashion means the dressing style that people can wear it for their daily basis. Understand the definition of fashion is a basis of discussing the luxury consumption (Jennifer and Kim, 2010). Tortora and Eubank defined fashion as a way of behaving or some things and must be accepted by many members of group (Tortora and Eubank, 2005). For instance, the way of behaving include a wide variety of activities, such as the words people speak, the clothes people wear and the lifestyle people have. The majority of a …show more content…
Literature Review 2.1 The Concept of Luxury 2.1.1 the concept of luxury in Western culture Lots of Western sociologists have defined luxury as a symbolic show, a reflection of social and class, the majority purpose of purchasing the luxury-goods is to improve their social position and have the highly desires to become to be a higher class. (Pierre Xiao, 2008). However, according to Roux, he defined luxury as emotional, experimental, and psychological (Lipovetsky and Roux, 2005). It means, the concept of luxury can be described as the expression of consumers’ emotions or attitudes, such as the lifestyles people have or the aspirations people desire. Other scholars pointed out that, the concept of luxury became more democratization, more and more luxury brands have changed their business strategy from family hand crafted traditions to market-oriented (Dubios and Laurent, 2001). For instance, the company such as LVMH Group and Richemont restructured their strategy form the family-owned luxury brands into powerful luxury giants (Pierre Xiao, 2008). Furthermore, Danielle Alleres has defined luxury in different ways, he discovered three levels of luxury: Inaccessible, the exclusive or unique hand-made …show more content…
In China, luxury can be defined as extravagant and wasteful, because the word “luxury” is combined of two characters in Chinese—“she” and “chi” (Pierre Xiao, 2008). In recent research based on the Chinese fashion consumers, Gutman has proposed that the main concept of luxury product is to satisfy the desired values of consumers. For luxury goods, the characteristics of the luxury products and of the luxury brand should highly significant cater to the needs of consumers and become more symbolic in Chinese fashion consumers society (J.Gutman, 1992). According to Dubois and Czellar, the Chinese elite’s attitude via luxury goods has identified to six attributes: excellent quality, uniqueness, very high price, emotional content, superfluous/inessential and the last one brand history and heritage. Excellent
Veblen’s work was, and continues to be, quite controversial; however, his dissections of human behavior as it relates to social structure and consumption were far from inaccurate. Interestingly enough, it seems that his theories have even become increasingly accurate over time, as proved by the way conspicuous consumption and “Veblan effects,” have both played a significant role in changing not only the luxury fashion industry as a whole, but also in changing the image and symbolic nature of the luxury good.
By 2002, Moet Hennessy Louis Vuitton was the world’s largest luxury products company, enjoying annual sales of 12.2 billion euros. LVMH carries the most prestigious brand names in wine, champagne, fashion, jewelry, and perfume. Upon entrance of this luxury product industry, LVMH was aware that they produced products that nobody needed, but that were desired by millions across the world. This desire in some way fulfills a fantasy, making consumers feel as though they must buy it, or else they will not be in the moment, and thus will be left behind.
-Status symbols: Sophisticated customers who value the distinctive, exclusive collection seem to value the corporate-branded version of luxury. –Philip Martiz, chairman of the board
Six years after deciding to be an independent public company in late 2000, Coach Inc.’s net sales had grown at a compounded annual rate of 26 percent and the stock price had increased by 1,400 percent due to a strategy keyed to a concept called accessible luxury. Coach crafted the accessible luxury category in women’s handbags and leather accessories by differentiating themselves on price, but matching competitors on styling, quality, and customer service. The accessible luxury strategy mirrors a focus (or market niche) strategy based on low costs. Coach concentrates on a narrow buyer segment and outcompetes rivals by having lower costs than rivals and thus being able to serve niche members at a lower price. Management believed that new products should be based on market research rather than on designers’ instincts. Coach utilized extensive consumer surveys and focus groups to gain insight in the market, and ultimately a competitive advantage over competition. Coach’s $200-$500 handbags appealed to both middle class consumers who now were able to afford a taste of luxury, as well as affluent consumers with the means to spend $2,000 on a handbag on a regular basis.
“Despite worldwide softness in the sale of luxury goods, LVMH has cemented its position as the world’s largest and most profitable player in the category. To stay there it must keep its customers loyal and its brand strong and find new markets worldwide” (Hazlett C. 2004). That is why in its mission they state to represent the most refined qualities of Western “ art de vivre” all around the world. Their objective is to be the leader in the luxury market, continuing to transmit elegance and creativity. This poses some major challenges, the main one is to keep being the leader in the luxury market through a sustainable growth. The main problem to achieve it is the high dependency on three main countries, France, Japan and USA. This becomes a threat because if there is an economic downturn in one country it affects LVMH directly that is why.
Louis Vuitton, a French designer and entrepreneur quickly made a name for himself in the fashion industry by becoming Napoleon’s wife “personal box-maker and packer.” At the age of sixteen, Vuitton and his family started the legendary workshop by creating travel trunks and the famous unpickable locks in 1859 (Louis Vuitton, 2015). As the legendary brand continues to remarkably exceed both sales and expectations, Louis Vuitton as a brand strives for pure distinction and exclusivity.
Individual brands are bought up by large luxury groups. And large companies experience much higher margins because of brand recognition, advertising, and optimal brand portfolio management. With the development of globalization, the products are diversification, which apparel brands branch out to other luxury product categories. For example, jewelry, perfume, and cosmetics.
The high pressure luxury brand industry has evolved over the last few decades from a small and selective to a multibillion dollar arena offering significant potential and growth opportunity for the luxury brands that compete within its realm. With many luxury brands competing for over $225 billion (The Economist, 2009) in revenue each year it is easy to see how strategy plays an important role.
To begin with, I will look at each of the two subjects. Fashion is an extremely large subject with many sub-categories and can mean many different things, however in this essay I will take fashion to mean the popular clothing style. I will put emphasis on looking at high fashion as these are the leaders of their field. Fashion itself though, is not to be confused with clothing. Clothing is a part of fashion, but it is predominantly purely functional, for protection from different aspects of the environment. Fashion however, is primarily for image. It is a way to present individuality and personality. A physical mouldable form of expression. Designers wish to create works of art that can be worn, and this is wear clothing becomes an art form.
“Gucci’s flagship store the glass tower in Tokyo is a clear example that the appearance, technology related tools, light installations the displaying of the handbags are presented by handmade material and moreover it also exists the first Gucci Gallery in the store” (Gucci 2012c). In this regards, Gucci supports its brand with non verbal support in Japan effectively because everything was designed according to the consumer’s tastes. Furthermore, the flagship store establishment in Japan is the main window for contributing to the reatiling understanding of luxury brands (Chadha and Husband 2006:75). Gucci South Korea is following its traditional flagship store concept. Gucci’s main distinction in the luxury market is that it follows the latest modern trends and apply it in its unique flagship store concept. Evethough, Gucci is implementing its modern features in its brand but still it is preserving the key traditional characteristics of Gucci (Gucci 2012 k).In this picture,” South Korean actress Lee Young Ae was carrying the jaguar printed model of the latest leather handbag which is bamboo shopper leather tote” (Gucci Bamboo Tumblr 2013).This picture highlights the message of the celebrity people are also following the luxury brands latest collections. Celebrities, activist, artist are the main cooperators for prestigious in order to follow their “differentiation strategy” (Riot, Chamaret and Rigaud 2013:920).South Korea Gucci is also following the global trend of Gucci’s main communication strategy to form an effective communication with their customer. But especially with the South Korean popular actress “Young Ae Lee” is carrying a Bamboo Shopper handbag in “Incheon international airport” and the other celebrity who ...
Hence, the limited volume of previous research enables this study to make a contribution to knowledge and to theory development. The study can demonstrate the perception of luxury scooter brands of Vietnamese consumers and their attitude toward country of origin when they intent to buy a luxury scooter. A great brand does more: It lends coloration and resonance to a product or service.
To begin with, I shall look at what fashion is; it is a currently popular style or practice involving clothing, footwear or accessories. It mostly refers to the current trends in looks and dressing style of a person (Cumming 234). In most cases, fashion is confusedly related to costumes; when a person talks of fashion they are seen to mean fashion in terms of textile. Fashion is seen to originate from the Western world and it is copied by other places. In this paper, we shall look at how fashion affects lifestyles and the group of people who are affected most. The paper further investigates how media is used to transmit fashion from one region to the other. Although it has been seen to affect people’s lives many people have different perspectives on fashion and dressing.
The value of a brand is inextricably linked to consumers’ values, attitudes and lifestyles, underscoring the complexity of developing global brand identity and equity. While technology-enabled globalization has produced synergies in the marketing and logistics of branded goods, it has also challenged brand managers to accommodate the heterogeneity within and across markets and cultures (Chu & Sung, 2011). Market entry and expansion in emerging markets are particularly timely as the demand for branded products – especially luxury goods – increases in two of the largest emerging consumer markets, China and India (Wilson & Purushotaman, 2003). Understanding subtle nuances and differences in new markets has become a resource advantage for multinational
Following fashion styles in order to be trendy and to look different and stylish in front of others by wearing different types of clothes and accessories. Fashion can be viewed in people’s style of outlook personality with clothing and hairstyle, style of living and behaving, along with the area of personal interest. Today’s youths are totally influenced by new fashion trends. Fashion brings an interesting twist in our boring life which makes us with feeling of confidence and up to date according to this changing environment. Youth generation is totally affected by this glamorous world of fashion. Their dressing style, hair style, accessories, language and personality all shows that how much they are influenced by fashion.
For one, luxury can be defined through good health. For another, luxury can be defined through comfort. To many, luxury is defined through lavish possessions such as cars or jewelry. Regardless of how we perceive luxury, there is a journey behind how we achieve it. Cartier produced an exquisite commercial to celebrate the brand’s history. With the worldwide icon, the leopard, we went through the odyssey of Cartier’s history. The commercial started with a leopard statue of diamonds and jewels coming alive which symbolized the birth of the legacy of Cartier, the start of the odyssey. Then we start watching the leopard visit significant places of Cartier’s history: China, India, and France. All these places are important to the luxury industry. After the journey across different continents, we finally arrive in Paris where Cartier was founded, where