Luxury was synonymous with quality. The most famous brands in fashion have built their brands around the finest materials and the most skilled artisans and then charge customers a premium for both.
But at some point in the last 15 years, everything changed.
Fashion labels have always traded their most intangible quality: the brand. While there are a thousand ways to understand exactly what “brand” means, most of them have to do with the feeling you get when you buy something: buy a Volvo and feel safe; put on a Rolex and feel like a dancer.
Because we define value and quality, luxury brands keep their prices high, so when you buy a Saint Laurent leather jacket, you’re assuming you’ve invested in something crafted from the finest materials.
Even if it’s not explicitly stated. To create hype, you need to limit availability. Supreme does this by creating far fewer products than its customers want – you have to work hard to get your hands on a handful of logos every season.