Luxury brands are more expensive than ever: Sky-High Prices, Hand-Stitched Justifications

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Luxury brands are in the midst of a reinvention. As profits plateau and prices soar, they’re pulling back the velvet curtain and putting the spotlight on what they claim really matters: craftsmanship. Glossy books and cinematic marketing now feature artisans in pristine white coats hand-stitching leather, hammering out exclusivity one bag at a time. But is this enough to convince a more skeptical consumer?

After a decade of rapid growth, the personal luxury goods market reached €363 billion ($415 billion) in 2024. Yet momentum is slowing. Consumers balk at paying 52% more than in 2019, especially when, as critics point out, quality hasn’t kept pace. A Reddit comment sums up the sentiment: “I get that you’re paying for the brand name, but... we’re getting ripped off sometimes.”

Brands like Ferragamo are now collaborating with outspoken figures like Tanner Leatherstein to verify their products’ worth, while others, including Bottega Veneta and Tod’s, are doubling down on heritage storytelling and artisan-focused campaigns. Meanwhile, books from Santoni, Loewe, and Tod’s celebrate their artisanal legacy, offering a tactile reassurance in an era of rising doubt.

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However, this narrative shift isn’t just about romance. Allegations of labor exploitation — including probes into Dior and Valentino — and viral videos exposing supposed manufacturing realities have fractured public trust. Brands are now seeking to regain control by owning their supply chains and their stories.

Still, the question lingers: is craftsmanship a sincere return to roots or a glossy distraction? As more consumers scrutinize price tags and production ethics, luxury’s next chapter may not be defined by logos but by transparency, timeless quality — and whether it can truly prove its value.