Love Fashion? Here’s Why You Should Avoid Getting Entangled in the Logos Drama
Another 90s fashion trend has popped its head back to infamy. The logos craze is back again, bigtime. According to Josh Schulman, the CEO and President of the Coach Brand, during the company’s 2nd quarter review, investors cited that there was a global rise in luxury brands sporting logo products.
Contrary to reports made by Us Weekly, many people can’t afford the price tags that such attires come with. Gucci suits can retail as high as $6,500 and Fendi pantyhoses can cost as much as $220.
Industry analysts have pointed to the recent trend as “logo mania” or the “Guccification of the industry. Oliver Chen, the managing director of Cowen & Co. concurs that the latest fad seems here to stay. He mentions that having analyzed retail and luxury goods through the years, the trend has been accelerating year in, year out.
Chen added that the latest craze is quite different to other periods when logos were the main focus in the fashion industry. Compared to the 1980s, he cites that there has been a massive change in how consumers have embraced the trend.
Chen noted that logos are now worn with a playful touch. He opined that the logo worship craze has inspired generations of consumers to feel free and partake in the engagement. Still, there are ways for fashionistas to dress aptly according to the times without having to break the bank.
Mind the Future
As per the laws of compounding interest, dollars saved today could have extra value in days to come. With this in mind, buyers need to gauge whether the hundreds or thousands of dollars spent on fashion is worth the effort.
In essence, there are a couple of key elements that need to be highlighted. Buyers seeking to spend vast sums on fashion need to ensure that they don’t choke their credit cards, need to have a rainy day fund at the ready and that there are regular monies deposited to retirement accounts. Once these boxes are ticked, then, one can proceed to cop luxurious fashion items.
Wants Versus Needs
Grace shared that because of the hurried rush in which those campaigns are carried out, many people tend to be unable to distinguish between which clothing items and accessories are want and which are necessities. So prevalent is the issue that Grace shared that at times, she finds herself having to hold herself accountable for the shopping decisions she makes. She shared that she adores Chanel bags and shoes which makes her prone to making impulse purchases.
For those unable to make a distinction between a want and a need, she believes that there are two ways for one to make a judgement call. The first step lies in identifying how and why to spend finances. The second step is weighing the options available. She opined that when it comes to making purchases, buyers need to think of everything as a trade-off.
Full Price is a Bore
Chen shared that while luxury brands are dear, consumers can mix and match to achieve the desired looks they are looking for. He shared that when it comes to fashion, there really are no rules. Chen added that vintage items can be paired up with branded items to achieve a unique look without necessarily looking cheap.
He believes that the recent logomania trend has emerged at a time when the fashion world is changing. The change means that clothing items are now more accessible to buyers. Chen cautioned that it’s not necessary for buyers to over-commit themselves to the cause. He shared that vintage stores and websites offer great options for fashionistas to upgrade their wardrobes.
More in Pocket Change
Mortgage Rates Plummet as Housing and Real-estate Effects Begin to Ripple in Other Sectors of the Economy
The real-estate landscape seems to be experiencing its worst time in history since 2008 after rates for home loans plummeted in...September 18, 2018
How and Why Hotstreaks Are Becoming More Prevalent in Individual Careers
At some point in time, it’s a given that you’ve heard of people having a hot streak in their financial, sporting,...September 18, 2018
How Your Social Media Posts Could Affect Your Home Insurance Claims?
In this modern world where we can connect with people across the globe in just a few clicks, posting and sharing...September 18, 2018
Stop Committing these Money Mistakes to Keep Your Child’s Financial Aid
Many parents think they can stop paying attention to their child’s financial aid after they have gone to college. However, this...September 18, 2018
Why Inner Peace and Understanding is Important Before Investing
As is the norm for most investors, they like to obsess over a number of things regarding their investments such as...September 18, 2018
Walmart Finalizes the Buyout of a 77% Stake in India’s Major Retail Store, Flipkart
In a bid to make headway in the international market, Walmart Inc declared on Saturday last week that it had acquired...September 17, 2018
Here’s Why Hong Kong House Prices are Some of the Most Expensive in the World
There’s no doubting Hong Kong’s beauty and grace. Elegant skyscrapers that stretch to the heavens is what you meet when you...September 17, 2018
Want to Save More Money While Living a Languish Life? Move into these Affordable Countries!
Most Americans tend to quit their corporate job in their home country, despite the big salaries they have. The reason? It’s...September 17, 2018
Immigrants Can Now Avail of Online Career Counseling
One of the most challenging stages in our life is when we go looking for a job. The moment we graduate,...September 17, 2018