Nada Baeshen, part of Brand Ripplr’s talent network, gave his own thoughts on the topic of luxury.
Nada Baeshen, another talent of the Brand Ripplr scuderia, also chimed her thoughts on the topic of luxury, she says succinctly, “luxury to me nowadays is based on value and timelessness. Consumers have a new understanding of the market. It’s also centred around the idea of exclusivity.” The persons whom she speaks to also has a clear profile, “my clients are the modern women who understands that less is more and appreciates quality. I own two businesses which are service businesses a padel court and a home service spa. And it’s all about trying to provide the best experience and creating a community that is different and gives us an edge.”
The dupes issue is not about the consumer only for Baeshen, “I think the Chinese and fast affordable fashion have definitely managed to do so but in the end luxury will always be classic, timeless and it’s something you inherit. Some kind of a family heirloom.” Baeshen, whose businesses do fall under “experiences” is nothing but sympathetic to the Gen Z and how they view luxury as experiences as opposed to possessions, she adds, “I think it’s always been about experiences, but I think the concept of experiences have changed from generation to generation.”
As to whether luxury is a construct and a concept, Baeshen says “I do believe that the markup works when you are actually affiliated to a celebrity or something that really relates to the market. It has happened many times before, I still think that we still see this on a daily basis with brands that are extremely expensive just because of the name. So you are actually spending for the name that has been marketed over the years through celebrities.”
She even goes practical illustrating that “it has actually been proven that the Cartier bracelet has no value for money considering too many other brands have copied it, and with many copies existing in the market that resemble it have created a loss of value for the bracelet, but at the end of the day it is still one of the best sellers at Cartier as it is a classic, timeless piece which has not changed in terms of design and craftsmanship.” She concludes her thoughts with “which proves that at the end of the day it is about the brand name that sells.”
Baeshen is only too aware of the sweatshop issue which was used to make luxury products, she sighs as she says, “it is disappointing that at this time and age, all these brands that are actually making millions cannot make basic, comfortable sources for their staff all over the world. As we know, they work with a lot of people in third-world countries, which would not cost too much for them to create a safe working space.” Her verdict is simply, “I think this should stop, and I think that as individuals we should boycott such brands to actually help with creating a different workspace for such labour.“
Baeshen does not concur with the idea that luxury brands lost aspirational shoppers due to over-pricing issues, she literally goes, “I disagree.” Before explaining, “they lost the clients because of credibility not pricing and people are looking more for new and exciting brands, so it’s harder to lure them back in.” So for Baeshen it is not a matter of profit margin but one of credibility.
