The production of counterfeit luxury goods is a criminal offense, and designers have always been vocal in their condemnation of the practice. Last week, Prada chief executive officer (and Miuccia’s husband) Patrizio Bertelli stoked controversy when he shared his opinion on the matter, saying, “Fake goods aren’t totally bad; at least it created jobs at some counterfeit factories.” He went on to reason, “We don’t want to be a brand that nobody wants to copy.” When questions arose, a Prada spokesman justified Bertelli’s statement, proceeding to say that “the quote is part of an extended conversation” that acknowledged the way in which “the market of counterfeits is an objective reality for successful brands and how this phenomenon has its own reality, also in terms of manufacturing, that is very structured.” This kind of progressive attitude, previously unheard of amongst the high fashion flock, is a natural extension of the fact that these activities will continue to exist, so why not put a positive spin on it? Keep reading »
We’re broke, we’re unemployed, we owe student loans, we’re living off our parents, we have degrees in things like English and Philosophy, we’re unprecedentedly narcissistic, and as if we couldn’t get any more charming, all the money we do have we spend on luxury goods: welcome to Generation Y, bitches! The millennial epoch, composed of those born between 1980 and 2000, is the fastest-growing demographic of those who purchase luxury goods. Consumers of this generation increased spending on premium fashion and services by 33 percent in 2011, and while boomers remain the foremost buyers of luxury items at 50 percent, millennials have altered their habits drastically in the past year alone. Keep reading »
Luxury brands make everything, even basic items like playing cards, fancier and pricier. It bags, we understand (sort of), but high-end origami sets? Hèrmes now offers one, which includes sheets of scarf print origami paper, a hand-stitched black saddle leather envelope, and black lacquer box, all for the ridiculous price of $750. We’d rather spend the money on a trip to Japan, where we’re pretty sure they sell origami paper that’s just as lovely. [Luxist] Keep reading »
And now for the latest in the ridiculously overpriced things saga … a pair of Miu Miu socks, featuring embellished doo-dads (no details on what exactly they are, but looks like buttons and aluminum charms to us) on 100 percent cotton.
Guesses? The answer’s after the jump. Keep reading »