For the price of a villa you now also have… a handbag. The price tag of 1 million dollars (920,000 euros) on the straps of the Millionaire Speedy Bag from Louis Vuitton is more than an extravagance. It’s a sign of the times. Luxury brands no longer target the richest 5 percent, but the very richest 1 percent. “Inequality in the world is increasing. You also see this polarization in the fashion industry,” says Prof. Annick Schramme (UA).
ttn-3
1 million Louis Vuitton handbag. “The top brands are now targeting the richest 1% of their customers. We, the rest, have to make do with perfume or lipstick”
