Rich Chinese Are Keeping Luxury Brands Alive!
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SOURCE: https://finance.yahoo.com/news/china-reopening-sees-gen-z-090000228.html Hot Pot Boys Podcast Playlist: …
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People are materialistic and want to one up each other, so I am not surprised at all. LV is laughing all the way to the bank with Yuan and U.S. dollars (he is not the richest man now for no reason). Some of these people look rich on the outside but are not as wealthy as he or she is trying to look. Some of the wealthiest people are not buying all of this crap themselves, and they can buy out the stores without even hurting the bank. People like to look nice, and some people believe name brands will make them look better (brainwashed).
It reminds me of a Kanye song before he went crazy "People buy things, and we don't really need them, things we buy to cover up what's inside because they made us hate ourselves and love their wealth and that's why shorties holler where the ballers at and to cut it short he said the white man gets paid off of all of that" another saying that is not a part of a song is "We buy things we don't need with money we don't have to impress people we don't like."
None of the money goes back to the communities that these people live in (I am sure the French, Italians and other groups are like please keep buying dummies). People do the same thing with shoes, I can't see myself spending thousands of dollars on shoes (some of these people are asking to get robbed, I believe someone got robbed in NYC less than 2 weeks in Chinatown and it was supposedly close to $80,000 in value). Yes, people should be able to wear what they want when they want, but people need to use common sense and sometimes money and common sense doesn't go hand and hand per se. Rolex and so on are a good storage of value, etc. I do like a good watch (IWC). Grand Seiko, which is Japanese makes some really nice time pieces.
That is true, I have met some people that dress like they're homeless with a t-shirt and cheap jeans, but they're wealthy (they're not buying all of this malarkey). "Difference strokes for different folks" as they say. They're buying houses, stocks, bonds and whatever else will build generational wealth (maybe a little crypto on the side and so on).
What's some legacy local brands in china that the lower middle class stick w then ,?
When Westerners see Asians flashing a luxury item they usually think it's fake – and not that they're ballin'! Keep it real. China is known to make copies of luxury goods and this stigma is not going away soon.
A lot of people envy chinese these days. Hahhahhah
"All progress takes place outside the comfort zone." _Michael John Bobak
I'll agree with that
Lol, I think it's embarrassing that Chinese spend money on European luxury brands, owned by Europeans that don't respect them at all. Have some self-respect.
Russell Peters has a great bit about this. "Sale or no sale, Chinese people will walk into the LV everyday but will never buy π©" When the sales rep is not looking, they'll take out their phone to snap pics of the handbag to send to their Chinese uncle who owns a factory in the mainland and they'll counterfeit it. XD
Bought a wallet with a faux prada label on it about 15 years ago for a few dollars. Wasn't looking for a brand, in fact didn't want the luxury euro label on it, just not me, but the material felt durable. Been using the wallet daily since and it has barely any wear and tear. It's testament that Asians do make quality goods even when not branding. Shake my head when I see someone gloat about the pricey stuff.
Asian is the New Europeans
For me, the luxury thing I gave up was designer jeans .. Reason being is that any pants I wear ends up getting a hole in my crotch anyway. Armani or not, your crotch still stinks through the hole that's made either way.
Yall ignoring the main point, mainland chinese bros got NO GAME, the only way to stick out from the crowd is to flex harder than the next man, and that means you gotta buy your girl her luxury brands to keep her satisfied.
In america or other western countries you can be a bum and still bang 9 or 10's as long as you got game and looks, that aint a viable strategy in china, you must be financially successful or you are looked down upon
DISCUSSION OVA
Material wealth is the poorest type of wealth. I do see a lot of Chinese decked out in luxury items, driving their G wagons. They still look poor to me. Often the attention to detail and awareness is seriously lacking. They can spend a lot, but it still doesn't give them class. Class is sort of passed down from generation to generation; it's not related to money.
That's probably why they use Asian faces as ambassadors like k-pop stars. Jisoo with Dior for instance
Brands could be coming back and new ones coming.
Like most Chinese, I used to spend fortunes on all these luxury brand items, things that I cannot afford, that was very foolish of me. But now I am content of living simple, and to come to my sense and I couldn't be happier!
If someone wants to buy an $800 shirt that is not my concern.
Its all about the FLEX!
Asians, esp Chinese people, are obsessed with money and status. Every race knows this already, you know name it : Blacks,Latinos, Whites, Middle Eastern, everyone knows this about Asians. Also there's White worshipping.
The funny thing is the older Chinese generation like my mom would criticize me for spending that much on something clearly not worth the money even if I have the money to spend.
Country of origin matters with regards to heritage, culture and legacy. French handbags, German automobiles, Swiss watches, English tailored suits. In 100 years, these national brand strengths will persist.
China suffered through a terrible recent century plagued by war, destitution, and communism, so itβs not surprising that she hasnβt produced any powerhouse brands yet β it takes time.
Expensive items are much more durable. That's why I buy it.π
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Well I'm pretty sure the Chinese are also the top consumers of streetwear, Japanese denim, goros and Gentle Monster sunglasses, not just European luxury brands. But it's really only like…the top 10%. There's just a lot of Chinese people.
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Maybe they're phasing out of Baku-gai shopping behavior to qualitative or yet Baku-gaing those brandsπ
Statistically… Koreans buy the most luxury goods
Status is important.
Where I live, immigrants with money are flaunting designer garb. I wouldn't buy that garbage if I had the dough to blow.