Even though some luxury brands are raising the prices on their goods, a recent study by the market research firm Euromonitor found that sales of high-end products grew by about three percent this year. But that's not because individuals are spending more and more on superexpensive products. It's because we're buying more products from so-called affordable luxury brands.
"If you look at other brands like Prada or Louis Vuitton or even Mulberry, that are really inflating their prices, it's gotten to the stage where lots of consumers simply can't afford these brands," said Fflur Roberts, Euromonitor's head of luxury research, in an interview with The Business of Fashion. Other less expensive but still luxurious brands like Michael Kors and Coach (it made the
And while the study is comprehensive, it doesn't tell us anything about you specifically. So we have to ask . . .