The Development Of Luxury Industry

	In Richard Cory we stumble upon a different outlook of people in society. Some feel that the glamour and wealth of a person determines how happy with life they are. This is not always true. Just because a person has the money to flaunt does not mean that they are happy. This can be compared to how people look up to actors, actresses and other famous people. Some look at these people with such admiration and why? They seem to have not one worry in the world. Does money, looks, or any other materialistic thing make a person really happy? Not many people stop to think that these people are normal as the average Joe. They

This expansion demonstrates how the luxury industry is now run by massive corporations whose focus is only on growth, visibility, brand awareness, advertising, and most importantly, PROFITS! With growth and expansion, has come a decrease in quality and rarity. The luxury garments produced are mostly not handmade but are even outsourced to large factories in places such as China and Turkey. Also, to meet quarterly turnover projections, “designers churn(ed) out increasingly trendy collections of clothes, handbags, and shoes.” (Thomas, Pg. 246) With hundreds of new stores around the globe the surplus of designer labeled merchandise is immense hence, the proliferation of outlet malls.

Our times have faced many structural transformations, mainly we developed a life denying ideology which enforces and celebrates our social isolation. The war of every man against every man is translated to a competition and an individualism that are the main religions of our time. Therefore, wealth and fame became the sole ambitions of our generation.

In a celebrity driven culture, it has become the norm to idolize people as perfect angels who seem to do no wrong. In Robin Givhan’s Glamour, That Certain Something, the idea and definition is explored by this fashion elite. It describes why glamour can actually be detrimental to the society as a whole. However, glamour is subjective and arbitrary trait that is being slightly misconstrued as perfection.

There was a time when social classes were most easily identified through material goods and possessions. Whether wealth was gained through inheritance or hard work, it was the luxury items that made the most visible and tangible statement regarding a person’s social status. Men could rely on a large house or expensive car to proclaim the success they had earned. It was much more common to see women adorned in jewels, designer clothes, and furs as symbols of her upper class status. The extravagance of a woman’s appearance was a reflection of the success of her husband, so it was natural to indulge her desire for expensive material possessions.

What are cultural luxuries? Many people may wonder what that is and when it will be so kindly afforded to them. The idea of cultural luxury

From consumer’s perspective, the motivation of their purchasing high-end products is complicated. According to the report of Mintel (Academic.mintel.com, 2013), which showed that the reason why a large number of customs have purchased luxury merchandise in UK. There were 44 percent of female interviewees and 48 percent of male interviewees bought high-end goods due to the good quality. In addition, 31 percent of men and 18 percent of women consider the sophisticated technique

The consumption of luxury goods in China is mounting sharply. Not only those born to elite families, but also many common people are greedy for luxury brands (China, a Booming

Sociocultural: In the recent years, the desire to appear wealthy has attributed to the increased popularity in luxury products. Also, the desire for luxury goods was promoted by effective advertising and TV programming that promoted conspicuous consumption to middle-income consumers. Middle-income consumers also tend to “reward” themselves with luxury items.

An increasing economic interdependence of national economies across the world experiences a rapid cross-border movement of goods, service, technology and capital. Luxury goods industry, serve as one of the most competitive industry, emerging and developing rapidly all the time. To a great extent, globalization promotes the development of luxury goods industry significantly in spite of the big shock hit by several times of economic crisis.

The ability to consume creates a positive and rewarding sense of self-worth and acceptance, however, those unable to purchase luxury items creates a negative exclusion towards society. During the time of the early industrial society, people were based on the work they did, rather than what they consumed this was because only the wealthy could afford expensive luxury items. The remaking of today’s contemporary UK society now sees all walks of life owning luxury items with the aid of credit cards or payment plans which weren't available in the early 1970s. Zygmunt Bauman stats “even though we now live in a consumer society, it isn’t an equal society” Bauman, cited in (Hetherington and Havard 2016 p. 125). In contemporary society today, the upper and middle class are classified as those in secure jobs, a steady income and those able to purchase items beyond the bare necessities with credit Bauman defines this as the ‘seduced’. The lower class individuals are known as the ‘repressed’ who have trouble fitting into the acceptance of others due to the lack of income based on unemployment or those with a disability. The above evidence shows that class remains divided by class inequality however the remaking of contemporary UK society has seen some changes to make it more assessable for people to purchase luxury items

The late Irish poet Oscar Wilde once stated, "In the world, there are only two tragedies. One is not getting what one wants, and the other is getting it.” This quote accurately describes human nature to the extent that man is never fully satisfied with his current possessions. In fact, most people who rely on materialistic items for happiness are typically desolated and miserable. This story is based on an archaic view on women, where women have no caste or hierarchy. The people grade women based off their looks and beauty. Money “practically makes nobility” (Shmoop). It “enables the user to pay for the high life” (Shmoop) and confine the person with luxurious items known to man. Money controls the life of people,

Society is constructed in such a way that some people become inferior to other people because of how society treats certain individuals. Fashion has become a catalyst that leaves a gap between the lower class and the upper class; this brings out the aspect of social structure as it ranks categories of people in a hierarchy,( Macious & Plummer, 2008).Bourdieu’s concepts of field, habitus, social capital and cultural capital gives an illustration of the elite and the lower class in terms of their fashion taste. This essay consists of three parts; the first part will look at the London Fashion Week applying Bourdieu’s concepts, the second part will describe the difference sorts of capital required for elite women to join the ‘secret club’ of

The overall sales of luxury goods in the year 2009 is expected to be more than US$150 billion and Asia contributes 10% to it. The concept of luxury is now not confined to only to Europe and US, the Asian subcontinent contributes majorly to it, with India and China as the newly emerging markets. Professor James Twitchell (2002) comments on the democratization of luxury and the changing consumer psychology These new customers for luxury are younger than clients of the old luxe used to be, they are far more numerous, they make their money far sooner, and they are far more flexible in financing and fickle in choice. They do not

On the other hand, the large market potential has drawn a host of luxury-goods companies to enter the China market, which makes the competition fiercer and fiercer. And it is troublesome for LV that there are plenty of fake goods imitating LV’s style prevailing in China, which are actually not likely to reduce LV’s high-end consumers, but would exert negative influences on consumers’ impression and awareness of LV.