Speaking of ridiculously priced fashion brands, I've been tracing some publicly traded fashion companies, and the way a lot of equity reports gauge performance exposes how much of a farce all this industry is.
For example, Prada's good stock performance as of late can be attributed to four things. One, Prada increased the prices of mainstay items by 50% since the start of the pandemic, and pushed the pricing of special-release and fashion items to stratospheric levels (2,500€ Prada Sport nylon windbreakers anyone? 1,200€ polo shirts?). Two, TikTok and IG engagement statistics are being actively developed and monitored. These numbers are now a major indicator of share price performance in the luxury business world. Three, about 95% of Prada merchandise is now conspicuously branded. You would be hard-pressed to find anything without any sort of ostentatious or visible branding. Four, the Chinese market's high price insensitivity. They've been proving, quarter after quarter, that they simply just don't care how much anything costs as long as it's a "luxury good".
Transforming the brand into a "luxury" Tiktok clothing label has been proving quite a successful strategy. Financial indicators are improving. Sales across almost all regions increased significantly, specially in Asia and North America. The cheaply-produced yet expensively-priced-for-what-it-is re-issue bags, the holy grail of basic and tacky Zoomers everywhere, is the undisputed rain maker for the company during this time. That's well and good since it is a business and a lot of people rely on the company for salaries, but sorry, as far as i'm concerned, Prada is now just an extremely overpriced Shein.