2015-06-18

Social Mood Is Turning

WaPo: Why Louis Vuitton, Gucci and Prada are in trouble
Ryan’s fondness for low-key, logo-free pieces is shared by a growing number of wealthy shoppers, experts say, who prefer to shell out for unique, hard-to-find pieces instead of highly recognizable handbags from big-name brands such as Louis Vuitton, Gucci and Prada.

The shift is largely about adapting to a moment in high-end fashion when personal taste and individuality — not conformity — are the ultimate badges of cool. But experts say the penchant for more discreet luxury goods is also partly being fueled by the simmering political debate about income inequality, which is leaving some big spenders worried that it is tacky to carry a purse that practically announces its four-figure price tag.

“We clearly can see that this is something where people are not wanting to show their wealth quite so conspicuously,” said Sarah Quinlan, who studies consumer spending patterns as the head of market insights for MasterCard Advisors.

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