Luxury Brands Are For Broke People

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⌚️Timestamps:
00:00 I bet you didn't know this
1:30 What are luxury brands really doing?
02:04 1st way luxury brands do this
03:13 2nd way luxury brands do this
03:42 3rd way luxury brands do this
05:20 The 1st big problem with this
06:46 The 2nd big problem with this
08:30 The 3rd big problem with this
09:56 How you can still buy luxury brands
11:43 The 2nd thing you need to do
12:30 The 3rd thing you need to do
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All opinions expressed by Vincent Chan are solely Vincent Chan’s opinions. You should not treat any opinion expressed by Vincent Chan as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Vincent Chan’s opinions are based upon information he considers reliable, but does not warrant its completeness or accuracy, and it should not be relied upon as such. Vincent Chan is not under any obligation to update or correct any information provided. Vincent Chan’s statements and opinions are subject to change without notice.

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[OfficialDarkSoulMusic]

The only luxury I care about is buying a fucking house

[rubyhenshaw]

Most Designers aren't the quality they used to be, so people Improve  yourself by learning new skills, saving, budgeting, Investing and achieving financial freedom to enjoy a fruitful life.

Freedom is the true luxury

[jmr]

The experiment by Payless is priceless. It proves the stupidity of people.

[kelsosworld]

Also alot of rich people get their “luxury” brands for free

[rustym.shackelford]

Never liked """Luxury""" brands. It's so ridiculous that people would spend so much LARPing as successful people.

[defiantlypinki]

I have always thought that designer bags were really ugly. They care more about spreading the logo than making aesthetically pleasing designs.

[sardorpulatov]

Great video, Vincent. However, you're missing quite an important point here. While I acknowledge that Zuckerberg and Gates don't need to buy Gucci-branded t-shirts to display their wealth, they do purchase clothing from luxury brands. They prefer quiet luxury brands with no visible logos, such as Loro Piana and Brioni, over loud luxury brands like Louis Vuitton and Balenciaga. For example, the founder of Facebook exclusively wears tailored t-shirts from a luxury brand Brunello Cucinelli.

[marcuse]

Wealthy folks practice “silent wealth” purchasing. Don’t be fooled, they enjoy the fruits of their labor like everyone else. Splurging & going into debt over luxury goods is another matter.

[libertarian]

My wife and I have a net worth over $10M. We don't own a single luxury/designer item. We Live in a middle class neighborhoof and shop at Walmart and HEB just like when we were young and broke. Neither of us has any interest in buying anything Gucci, LV, or whatever. We're too sensible to spend so foolishly.

[Malik_Maverick]

My cousin is a photographer and she did a testing shoot for Dior. She got a ton of free merch that was either last season, prototypes, overstock, etc. The model she was photographing got a “thank you” bag with tons of random items and she even got to keep the dress she was modeling. Celebs don’t usually pay for luxury goods.

[You-Be-The-Judge]

I once bought a ferragamo wallet because I am an idiot and wanted to impress the person I was with. I could have bought 40 regular wallets for the price I paid. I still have the wallet but simply to remind me never to be that stupid again.

[VBoo]

I have absolutely benefited from wearing "luxury" brands or dressing really top notch. However, I realised it was not the brands that made me benefit from this, it was how groomed I looked. I had someone point to my handbag I got for £100 on sale (£400 retail price) and ask me where I got it and guessed it cost thousands of pounds, It made me laugh. Looking well groomed, tidy, and wearing high quality (does not have to be expensive nor branded) and behaving with manners, grace and kindness will do the trick.

[Senpaischick]

This is kind of clickbaity. Rich people buy luxury items. They don't buy the luxury items that are "as seen on xyz" Outside of celebrity culture, actual wealthy people wear brands such as Loro Piano and they buy Delvaux bags, luxury brands that offer custom tailoring in-store. They spend money on quality, so they don't have to spend on quantity.

[nk-gpml]

The genuinely wealthy people I know, not the ones in massive debt, buy luxury brands, luxury cars, go on frequent expensive holidays and spend plenty of money on socialising etc. And they still have plenty left over. They generally have large asset and property portfolios and/or a successful business.

[BrettOhh]

Nobody is talking about this? I've seen dozens of these "rich people don't buy luxury brands" video essays in the last 6 months.

[onlythemessenger-myny]

I used to pick orders at Amazon and I spent 8 hours picking luxury item orders one day and at the end of my shift I saw the trailer that my orders were put on, pull off the dock and I saw that it was a trash trailer! I was so mad and I asked why don they give them to us (the employees) and my supervisor said it would bring down their value (the clothing brands). And they dumped the clothes inside of a massive indoor burn pit where the DEA destroys drugs so that no one ever sees. So if you ever see a trash semi TRAILER leaving Amazon and not a dumpster trash truck there's probably luxury items on it and the driver doesn't know it.

[Peechiness]

I think what make someone rich is not what they buy, but the fact they can buy what they want when they want. Same
Thing with vacation. They vacation anywhere, any way, and whenever. You're rich when you don't worry about life.

[kalex]

actual luxury brands aren't for poor people, they don't even know it exists

[Jack_Clemans]

When I first read the Millionaire Next Door I was shocked to find out "Ford" is the most common car brand among millionaires, and Walmart was in the top places millionaires go to buy clothes. Such a great message and thanks for the reminder not to believe everything we see on social media! :)

[TheMagicCrafter]

Luxury brands make such gross looking products. I don't understand why anyone would want them- especially for the price. 😅