Luxury names and the war of upper class



With many luxury names, money isn't everything.  Customers cannot enter a Rolex store to request to see a GMT, Submariner and Daytona watch, or Hermès store to request to see a Birkin bag and easily pay for them.

Normally, limited edition luxury products are expensive.  This is why paintings by world-famous painters have a "heavenly" price level.

Luxury names and the war of upper class

A Rolex watch is a symbol of wealth and success. / ph: Rolex 

 However, this monopoly is not limited to the art world.  With many luxury names, money isn't everything.  Customers cannot enter a Rolex store to request to see a GMT, Submariner and Daytona watch, or Hermès store to request to see a Birkin bag and easily pay for them.

 At first glance, the phrase "the store has nothing to sell" sounds fanciful.  However, this is a completely wise marketing strategy, hitting the consumer psychology directly.

 “The concept of scarcity is a fundamental rule of psychology.  People often crave what they don't have.  When rejected, they feel like this is a challenge to overcome”said Kit Yarrow, PhD, consumer psychologist, professor emeritus at Golden Gate University.

According to K. Yarrow, for wealthy people, the excitement of being refused to own something increases their desire. It would be boring if you easily get what you want.  All of us find ways to reinforce the ego.  Owning something that is very difficult to have makes them more proud.

 Rejection, the challenge of winning luxury products leads to their mentality that they have reached a high position in society.  “Luxury products deal with people's insecurities about their place in society.  For some, it sets them apart from the crowd” said Luca Solca, luxury products analyst at Sanford C. Bernstein.

Sometimes, luxury products are just a lever for someone to approach the super-rich, thereby setting a springboard for the upper class world.

 In fact, dinners and events with tycoons are more coveted than luxury products.  Lionel Geneste, a consultant for luxury products, said the luxury world is being dominated by a fierce race called "luxury event".

 “Chanel usually holds dinners in Paris, Dior celebrates in Versailles, Dolce & Gabbana takes customers twice a year to Milan and Capri… So customers competing with each other are not just buying jewelry but they want to be featured in these luxury events” Geneste told Robb Report.

 For the upper class, the effort required to acquire exclusive items, sometimes watches or handbags, is completely worth it.  To them, it is a symbol of wealth and success.

 Mr. Tonello said that if you accidentally or intentionally own something that is difficult to get, even celebrities also do not have the chance, you find yourself a cosmic master and The feeling of richness and power immediately arrived.

Luxury names and the war of upper class

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