The DOWNFALL OF Luxury! Why Gucci, YSL and Celine are in trouble...

Music Credit- dans le parc

Credit to my animation

[as]

Whenever I go into the city, the balenciaga store is always empty. I have no idea who is still shopping there

[niononion]

After the scandal, I got rid of all of my Kering items and I refuse to spend any of my money on any of those brands owned by the parent company. Creeps…

[carriea.]

I wouldn't be caught dead in Balenciaga. The way they mishandled that disgusting photoshoot with kids made me despise that brand with a passion. Why would I put that 💩💩💩💩 on my body?

[sanguinehearts]

They've basically told the aspirational customer to go pound sand, so we've listened. I've turned to the Japanese pre loved market, and while I can't say I'll never go back, it's hard to imagine doing so.

[ThekimG]

You made a lot of good points Jess. However, we need to look to which demographics they’re basing their losses from and I think it’s the Asian market..and also we need to realize that the European/ western market has not been the priority for these companies for years now. 😊

[madelinegreen]

I think it is mostly the price increases. That has what’s got me not spending on luxury and I am a lawyer with a decent income. Most of the middle class / aspirational clientele simply cannot pay $5-10k CAD for a basic bag (I am Canadian). There is also social media fatigue cause of the constant bag drops. People are searching for uniqueness (which these bags are usually not) and more low key looks right now.

Ps I also prefer Sabato’s Gucci. Way more in line with traditional Gucci and more chic. Just too high of a price for me…

[Giannas]

I can’t get over all the price increases AFTER record profits from the pandemic. That’s just greed, arrogance and pure evil, of which Balenciaga gave us a glimpse. Is that how you treat loyal customers? No wonder their stores are empty 🙄

[CarolDirienzo-jg]

Frankly Jess I’m just bored with all the new releases. I’m bored with quite luxury, I’m bored with all the collaborations, I’m bored with the new Chanel releases I’M JUST BORED WITH IT ALL. And I can’t tell you why. I’m trying to figure it out myself.

[katemore]

I don‘t think it’s about designers. People just don’t have extra money. Crisis took over. So firing the designer doesn’t change much. People would buy any 💩 from any designer, just add some pr, ads and done, but only if people have money. + their “cycle” in a fashion is over for now.
Oh, and maybe now, when huge brands are struggling, there will be no or less, at least, uncontrollable, thoughtless, pointless PR gifts, like another LV bag, to “top” bloggers, stupid PR trips etc and finally brands will focus on a clients. Wishful thinking 😂

[lalaland]

Such a spot on video! I'm on the internet looking for inspiration daily and there's literally nothing that makes me excited. You really nailed it.

[Chunkyshoesuk]

I brought a saint laurent bag in 2018 for £1300 its now £2300. Despite thinking its a great bag, if I didnt have it there is no way on earth I’d spend £2300 on it. Prices are now too much. Thats not inflation, its greed. Would prefer now to save a bit more and get a nice Hermes bag than spend that type money on trend bags.

[darrylbannon]

Many buyers of Balenciaga just didn't see the issue, which says a lot about their moral compass. When it comes to so-called 'fashion people' they have no real style. They cannot think for themselves.

[DebShops-ev]

I’m with you. I prefer Sabato over Alessandro. The previous Gucci was too out there for me. I also think that your will find a significant sales decrease with LVMH. To everyone’s surprise the lux houses actually benefited from the pandemic. No one could go any where and with the extra funds that may have been spent on vacations and such folk started to buy the bags they always dreamed of. This continued post 2020 and the houses got greedy with all of these crazy prices increases. The greed has come to a head now though…the economy in most countries is just chugging along and a lot of us are exhausted with all these darn drops and new collections. It’s just way to much. For every new bag I buy…I bought a new Gucci in January I buy 3-4 preloved bags. That means I might buy only one more brand new bag from boutique…anything else will be pre-loved as the prices are crazy and the quality is crap. Those are my two cents!

[adki]

Am surprised you don't mention prices x 2 x3 x4 .... Icare bag in rafia is 4600e in paris... That's not luxury, just craziness....

[annaswanson]

Ppl were so irate about Balenciaga and forgot in 5 seconds but I just can’t believe in them or spend money 💰 there

[MsLulu-jron]

Over the weekend, I went to the big mall in Southern California that has almost all of the big brand name stores and Louis Vuitton, Gucci, Celine, Chanel…no line in front of any store (I didn’t check Hermes).

[danafillo]

If Kering is doing so poorly, how have they not fired everyone at Balenciaga?!?

[valbonaivezaj]

I just bought my Gucci Marmont Aria black with silver hardware at full price off the Gucci site because I couldn’t find it like new on eBay or fashionphile

[SimonSolomon-nuii]

To think Balenciaga was a great couture house

[mwedzi]

The prices are also crazier than before. Gucci is wild, with their falling sales. I had planned to get a pair of Gucci sneakers for my birthday. They were just under $800, which is already crazy, but Gucci just had a price increase and the shoes went up another 10% or so. It really annoyed me, so I said forget it. They’ll be okay, I’m sure, peaks and valleys. Profits down for a time might just be their long game, since they also don’t want to over saturate their market and water down their exclusivity.