>> I picked it up at the bookstore on Friday (it was just released Wednesday), but I doubt this is the last time you'll hear me talk about it. Deluxe: How Luxury Lost its Luster is Newsweek reporter Dana Thomas' new tract on, well, the corporatization of the luxury business.
Sound a little dry to you? Don't go away just yet. This book has gotten a lot of buzz, including excerpts published at Gawker.com, face time at Style.com and in various fashion magazines, and most recently, it was featured in the NY Times Sunday Business section.
The NY Times article has plenty of interesting little details from the book, like:
After France earned $15 million selling hundreds of millions of acres to the United States, Napoleon’s wife, Josephine, spent half of the money on clothes in 10 years.
Shame shame, Josephine. Or there are fun little statistics, like:
...as of last year 40 percent of all Japanese people owned a product made by Vuitton, mainly from the monogram line. That follows from the fact that the Japanese now account for 40 percent of all luxury sales, more than Americans (17 percent) and Europeans (16 percent) combined.
Maybe I'm just poorly informed, but Japan kind of came out nowhere for me on this. Sure, the Japanese are definitely a fashion-conscious people, but I would have guessed the burgeoning population-heavy markets of China or India would account for more luxury sales than Japan. Shows how much I know.
In any case, definitely looking forward to more interesting little tidbits from my girl Dana, when I finally have a chance to crack open the book... Did I mention I like the cover art?
COUTURE COUTURE
Fashion Conscience
0 Comments Post a Comment
oh I read the book....really quite informative and an interestering read.
delphine
I thought I read elsewhere saying that the PR prople behind this book seem to be very aggressive in advertising this book. I am seeing its reviews everywhere, from style.com to NY Times. Saw the book mentioned at a WWD Scoop article yesterday too.I'm very intrigued though. Based on Amazon reviews it seems like a decent book.
The cost-per-wear mentality has long been the prevailing wisdom in Japan. Japanese consumers are much more likely to spend big on one or two pieces that will last longer than buying several budget conscious pieces that will fall apart after only one season. It's a different philosophy from the American budget department store market which focuses on more quantity not quality for your money. Cost-per-wear has been on the rise here, but it explains why Japan is so big in the luxury market.
the new york times actually had three pieces on the book, in the span of a few days. there was that piece in the business section, a weekday book review in the arts section, and then a sunday book review as well. ??? i guess they really liked the book. or perhaps they had some sort of marketing deal going? who knows.japan has been a wealthy, industrialized nation for far longer than either china or india. furthermore, the exchange rate between indian and western currency has been so low for so long that people say, in the middle-class in india can't afford to purchase imported goods that someone in the middle class here in the US or in europe could afford. a middle class worker makes about 1/4 of the equivalent person here in the states. hence outsourcing, of course. it is starting to change, but only very slowly. china's a bit different, since their currency was tied to the dollar for so long.
Along the same lines, I encourage you to check out James Twitchell's 'America's love affair with luxury.' A very thought provoking easy read. Unfortunately, it has the effect to make you not want to buy anything with a logo on it, possibly for the better. Do read.
I'm still kind of trying to figure out the purpose of this book. Is the author positing that it's a bad thing that luxury goods have become available to the masses? Or is it just a collection of examples of how brand-crazy the world has become?I just haven't read anything about the book that makes it sound all that interesting, yet people are really excited about it, so I wonder if I'm missing something.
i just heard about this book and i want it soooo badly!
The excerps from this book and the reviews on Style.com really got me thinking about the status of material luxury - what luxury goods actually signify. Is it wealth, class etc. I am excited to read it. I have alonger discussion rolling on what the word luxury means nowadays, especially to those of us invested in the fashion industry.
It's not really suprising that the Japanese account for much of luxury sales. Japan is a very wealthy fast-moving country and their people are in general very rich. When I lived in Japan, I was probably lower class, but here in Canada I am middle/upper middle class. The Japanese are also very keen on quality... Everything they make is excellent and meticulous. Thus, I guess their need for luxury products.
Dont't exaggerate!
Being a Japanese, I admit that a big percentage of population is attracted to brand names, because they mean the guarantee of quality, prestige, etc. But not every Japanese (girls) are like that!It's also understandable Japan is the primary market for luxury goods, given that many of these customers are housewives of a vast middle class / unmarried, working women who continue to live with their parents (= no obligation to pay the rent, food etc etc, whole income for their pleasure).As for Louis Vuitton, I think this brand is received a little differently than other western luxury brands. The revival of the brand in the 70's couldn't have happened without the work of Kyojiro Hata, who was the head of LV Japan for 30 yrs until recently. He's also published a book "The Building of Luxury: The Visionary Genius behind Louis Vuitton Japan" (Assouline, 2004).
Ooo. Thanks for the link.
Heh. Japan is all about the designer name. I helped my friend make the biggest shoe purchase of her life by helping her overcome sticker shock to buy some Pucci sandals. I pointed out that in Japan these provided her a way to wear the fun colorful shoes she liked, while at the same time being instantly recognizable as a designer shoe. 'Cause in Japan, they *will* judge you on your outfits.
The cover art is a piece by New York artist Tom Sachs. Check him out here: http://www.tomsachs.org/
LV and other luxury brands are very big among Japanese and Koreans. They are popular in Hong Kong as well, but relatively few people in mainland China have the income to afford them. India has its own native luxury market (gemstones, textiles) and a strong domestic fashion industry which may account for the least interest in Western luxury goods in Asia.
The Japanese are all about brand names and "quality" -- that's why you'll hear of people paying several tens to hundreds for speciality fruit.
One trip to the Louis Vuitton on Champs-Élysées and all you see and hear predominatly is Japanese and Russian.
delphine
The Japanese have always been obsessed with the LV bags. Having worked in retail for a couple of years in Asia not too long ago, I would say they are the biggest spenders for luxury goods when they are travelling!PS: Been an avid fan of this site for awhile. First comment though!
Post A Comment
To post comments, please log in or register.