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** Financial gossip
Author of Financial Gossip
The light luxury bag that was once rotten on the street is known asContemporary consumerism is the "biggest".
"There is no extremely light + durable canvas bag without distress, and it does not have the function of luxury to satisfy vanity or support the scene. ”
On Xiaohongshu, posts admonishing "don't buy light luxury bags" abound.
From popularity to complaining, what happened to the light luxury bag?Are you going to be the "tears of the times"?
On November 10, Beijing time, Capri Group, the parent company of the affordable luxury brand Michael Kors (hereinafter referred to as MK), released its financial report for the second quarter of fiscal year 2024.
The chart shows the key performance data of the Capri Group for the second and first half of the fiscal year, with year-on-year sales in the three months ended September 30**8.6% to 12$900 million, net profit**Nearly 60% to $90 million.
Among them, MK's sales are even more **86% to 8$7.9 billion.
In the Asia-Pacific market, including ChinaMK's sales were **19%
Capri's market capitalization has also grown from $20 billion in 2014fell to today's 56$300 million.
I have to admit that MK has long been in an extremely embarrassing situation:Although the reputation is there, it has been out of breath for a long time.
MK's sales declined significantlyIts situation is actually a microcosm of the current light luxury brands.
Other luxury brands also contributed a poor performance report.
Coach's parent company, Tapestry, is just as dismal, with sales in fiscal 2023 at 66., the same as last year$600 millionBasically, it didn't make any money.
The recently announced results for the first quarter of fiscal 2024 reported revenue of 15$100 million, below Wall Street's forecast of 15$400 million.
Tapestry also announced this year that it will acquire MK's parent company, Capri Group, for $8.5 billion.
The opponent became teammates, and in the case of sluggish sales, the two old rivals even began to "huddle together for warmth".
It's not just about performance reportingIn the past two years, the withdrawal of these affordable luxury brands has also become faster and faster.
Recently, MK closed its stores in Chaoyang Joy City and Wangfujing Beijing APM malls.
According to the information on MK's official website, it can be seen that there are currently only 3 full-price boutiques left in MK in Beijing, and as many as 5 outlets discount stores.
Earlier this year, MK also pulled its stores out of Taikoo Li Sanlitun.
Coach has also recently removed its stores in Galeries Lafayette and Guomao**, and now has about eight full-priced boutiques in Beijing.
Kate Spade, the same company as Coach, has only three full-price boutiques left in Beijing.
Without exception, these once-popular luxury brands are either closing their stores or on the way to shrinking their stores.
Once upon a time, the self-proclaimed cost-effective light luxury brand relied on its first-class brand image, second-rate design and third-rate **, which captured a lot of urban girls.
Celebrities and fashion bloggers have stepped up one after another, and they are in the limelight for a while.
At that time, the Coach canvas bag was worth 4,000 yuan, as long as you carried it in front of colleagues or classmates, for them, it was simply thatThe dimensionality reduction blow is enough to prove that they are "tasteful (money)" in front of them.
In 2012, it was also the rising stage of the new middle class in China, and they aimed at the light luxury brands between high luxury and fast fashion.
In those years, the sales of light luxury brands ushered in explosive growth.
MK, on the other hand, has become the "boss" of light luxury brands with its clean and neat style, and has become a big hit.
I have been popular, and I have loved it, why is this "light luxury" out of breath?
The reason why the light luxury bag fell off the altar can only be said to be "made" by itself.
The main reason is the lack of protection of their brand value.
The first one is the discount.
If you don't do good business, you will hit "broken bones" one after another.
Although discounts can bring sales, they are also a double-edged swordIt dilutes the brand value.
Furthermore, while closing a full-price boutique, I add an outlet discount storeThere are even more outlets in MK Beijing than there are regular-priced boutiques.
They are all the same brand, and consumers are naturally more willing to buy cheap ones.
When affordable luxury brands such as MK and Coach frequently appear in discount stores such as outlets, consumers will rely too much on discounts.
The impression of it is"You will buy it when it's on sale, and it's not cost-effective if you don't discount it."
Everyone grabs bags like cabbage, and light luxury is getting farther and farther away from the word "luxury".
No matter how tall you open your store in the core business district, they don't buy it, in their brand perceptionYou can buy it at a discount, it's not a high-end brand.
Extravagant luxury like Louis Vuitton and HermèsThere are no discounts, and even price increases several times a yearIn order to further strengthen the value of the brand and maintain and consolidate the real high-income group.
At the same time, the discount method also allows more and more audiences of light luxury, and even neighbors who don't usually buy light luxury bags can get one.
Especially when the domestic aunts rushed into the outlet and rushed to buy a light luxury bagYoung urban girls who pursue individuality can't accept the same style as aunts at all.
The second is that it does not maintain value.
It's not been a few months since you bought the original price of the front foot, and the bag will be put on the shelves and start selling in a big sale during the sale season.
Like this bag from Coach's Tabby series,Not only can you choose any color in the outlet, but you can even take it all with less than half of the **.
To what extent does it not retain its value?
It's the extent that no one wants to sell the salted fish second-hand, and you even have to think about it for free.
Some netizens shared their experience of selling bags on social platforms.
When this netizen bought it, it was 6,000 yuan, and others could only charge 500 yuan for second-hand collection, and it may not be able to make a deal, even if it does, it may be lower than 500 yuan.
The light luxury bag is an existence that is disliked in the second-hand luxury trading market.
It can only be said that from the moment you buy it, the bag of light luxury will definitely belong to you, because the value retention ability of these brands is almost zeroIt is a complete consumer product, and no one buys it in the secondary market at all.
I don't blame others for saying it's an IQ tax.
The third is that there is no aesthetic taste, and the sense of design is worrying.
The positioning is light luxury, which means that it is low-key and tasteful, but these light luxury brands put it"High-profile revival of big-name bags".Bright hanging on his face.
Many of MK's collections can be found to clearly imitate LV, Chanel, Dior, Prada and other big brands.
Cocah Georgie 27 and LV Danie baguette bag, I don't know it, I thought it was the same designer, one person wears many hats.
Imitate other people's faces, imitate other people's faces, what is the difference between this and copycat fakes?If you want to be low-key, it doesn't mean "inferior"...
This kind of "twin" bag is not only face-saving, but also embarrassing.
Think about it at a party, your girlfriend appeared in front of you with a bag from the latest big brand, and your light luxury bag still looks like hers, and you can't wait to find a hole to get into.
And in the fashion area, it is really easy to go sideways.
For example, Coach's latest season 23 autumn and winter series of handbags, with fruit as a modeling bag, although cocoa**, but really can't carry out, thousands of yuan to buy back a bag that is not very practical, what is the picture?
There is also MK's latest Spring/Summer '24 collection, which can be said to be really out of inspiration.
It can only be said that the current luxury brands, in the fashion sector, want to be differentStrength but can't keep up with ambition.
White Rabbit joins hands with Coach to launch a co-branded cooperation model to preserve value, no. The sense of design, no, but a bargain.
However, if you want to be cheap, Pinduoduo is a high-quality and inexpensive bag, the quality is not bad, and the cost performance is also high.
Now that consumption has been downgraded, everyone is tight on money, and they are unwilling to spend unnecessary money, and the money must be spent on the blade.
Return to rational consumers,Instead of investing money in these light luxury brands piecemeal, it is better to save up and buy a big-name style bag in one step.
So it led to the current situationThose who have money don't look down on light luxury, and those who don't have money don't think of buying light luxury.
Although it is said that the light luxury bag is the largest, the same is true for the high luxury bag.
In the eyes of the capitalist, your taste and status need to be matched with high-end bags, and he tells you to be good to yourself and be a delicate independent girl.
But, in fact, in their eyes,You're a leek that's been harvested like crazy.
Of course, it's another matter if you have too much money to spend.
And those middle-class people who tiptoe to a luxury bag, and ordinary people who can buy a luxury bag by frugality, are all the same psychology of pursuing luxuryAfter buying this bag, I am a rich man, and I will be able to cross classes.
To be honest, light luxury bags, most people can afford them, and it doesn't seem that you have money.
And what about luxury bags, if you really have money, you don't have to rely on these to prove it.
Just like Ma Yun, even if he carries A goods, no one thinks it is fake, because everyone knows that he can afford it.
But you don't have the money, save money to buy a genuine luxury bag, and no one will think it's genuine.
Because everyone knows it,Behind taking off your bag, is the real appearance of you eating instant noodles and flowers.
Picture "I'm fine in another country".The luxury package is harvested by the rich, and the audience of the light luxury package is wider.
However, the reality is skinny, and in the context of consumption downgrade, consumers with "blood awakening" have begun to be wronged.
They dare to break the trap of consumerism and never jump down.
They turned to discount platforms such as Pinduoduo and VipshopNo longer impulsive consumption, no longer the pursuit of "face consumption", pay more attention to the "practicality" and "cost performance" of products.
Just like netizens said:"When the young and luxurious Nabo people, now the canvas bag. ”
According to the "2023 China Consumer Trend Report" recently released by Zhimeng Consulting, consumers will be more rational in weighing consumption choices and planning their expenditures prudently. In addition, they will pay more attention to the actual value of the products they buy and the changes they can bring to their lives.
In short, the consumer of the presentMore and more attention is paid to the sense of life experience, seeking inward feelings,Focus on the sense of pleasure, satisfaction and security that comes from consumption.
When we abandon all distractions, no longer entangled in brands, and no longer entangled in luxury, light luxury, and affordability, we can truly get a sense of relaxation.
Because then you will know,What high-end and luxury are imaginary, and they are not as important as their real feelings and life needs.
Are you still carrying a light luxury bag?For the former "street bag" has been reduced to no one cares,What do you think?Welcome to leave a message in the comment area to discuss and express your opinions or opinions, thank you.