Great show. Although I just bought a *hotdups* bag last week, I think it is enough to buy the products I like within my own consumption range. Why bother about the cost? It is good to spend the money you earn to bring yourself pleasure.
I really like the explanation of this series. In addition to understanding the big brands, I also understand the history behind many big brands. It is important to choose products that suit your taste according to your different needs. I think I will continue to use *hotdups* .
If people want to pay more for the inferior mass-produced item, what does that tell you about most desirable characteristic of the item? That's right - it's the HIGH PRICE ITSELF. So what should we do about it?
Ya but that's changing.with many people struggling b n a hi roller dosent make u look rich it makes u look like a narsasis a hole.b n smart with money is back in fashion just like granny n grampa
I just don't get it.u got b real sholow 2 play big shot.i mean if your ok with wasting big$ on yourself knowing 100s of children die everyday from poverty.what does the mirror on the wall say about that.
There are dozens of handbag makers in the $100-$1000 range... Polene, DeMellier etc. The problem is, the brands that Tapestry and Capri own have heavy retail presence, whereas most quality hangbags in the 100-1000 range are mostly online.
I have stopped buying designer bags because the quality has declined noticeably over the past few years while prices have increased. While on vacation in Spain this autumn, I bought an absolutely gorgeous handmade leather handbag for around 200 Euros ($215 US). It is well made, with quality materials and except for a discrete brass makers mark, no visible logos. I get to have a beautiful bag that I will enjoy wearing and not end up as a walking billboard for a company. And I don't feel the need to impress anyone by showing off that I would spend a ridiculous amount of money on something that I toss my car keys into.
9:22 "they argued that the combined company would have more resources to invest in product innovation." Innovation in what? Handbags? What could they possibly innovate? Handbags haven't changed since the invention of the zipper....over 100 years ago. Before that, handbags were essentially the same for centuries. Don't ever be foooed by these mergers. They are NEVER good for the consumer.
These bags cost a couple of bucks to produce, but the companies want hundreds of dollars for them. Unsold inventory is destroyed to maintain scarcity. And we're supposed to believe that they care about consumers. Oh well, I guess the joke's on us in the end, because consumers keep paying those ridiculous prices.
My wife has a very nice no name real leather handbag. Probably cost about $100. We can afford any handbag out there, but she does not. One of the reasons we can afford them is because we don't buy things for their status value, just quality products that will last.
I’ve had a couple Michael Kors bags and they fell apart pretty quickly. Accessible is a weird niche, I don’t know if people stay there, it feels more like you’re on your way up or down.
I like watching your videos, the bag explanations in this issue are very practical and vivid, I like the LV prototype *hotdups* bag the most, it is light and can hold.
@@good-tn9sr It all depends on the person; my hubby wouldn't notice any car other than our own since they don't interest him. 🤷🏼♀️ Same with me and handbags. Never notice other people's bags, I do own a couple (non-luxury ones) myself but I usually just keep my stuff in my pockets. 😆 Cars and handbags are to us like toilet seats: objects with a purpose, nothing more.
Chances are you actually can't walk into a store and buy a Hermes bag. You need to spend tens of thousands of dollars on other items with Hermes before you are considered legitimate enough to be allowed to purchase a Hermes bag.
People who use these brands just give away their financial insecurity. Little to no value added - just cosmetic. Rich people would not bother to show off with LV. The buyers need to understand it gives them the opposite image perception than they intended.
Lux bags are like factory store things, a lot are manufactureed by a third party at high volumes to have a label sewn in for mark up and to sell to social climbing middle class folks that think large logos = class. Conspicuous consumption. Guess started this type of movement by taking things they didn't make, putting their label on them and then basically becoming a licensing company.
Looking up to high fashion brands is like looking up to music or movie “celebrities”, it’s not an indictment on them, it’s that the consumer has an inferiority complex. And that drives so many luxury brand markets. Sad, really.
This video was excellent, but I gotta confess, from around the 5 minute mark, I found it hard to pay attention, since a recurring thought kept popping up in my head - A FUCKING HANDBAG COSTS MORE THAN $500? WTF
A handbag monopoly certainly is possible; Kering Group and LVMH exist, and combined, make-up a majority of the luxury leather goods market globally. You can’t go into a high end shopping district without more than half of goods displayed being produced by one of the portfolio brands. LVMH alone composes 22-24% of that sector.
Yeah, but the biggest luxury brand in LVMH and they still are under a quarter of the market. This merger was more likely LVMH and Kering merging to make more than 50% of the market.
My handbag is a gothic cat’s face with tiny bells. I love it. It was very cheap but it is not common and completely “me”. Wouldn’t trade it for anything.
Well, Lena Khan is on her way out with the current administration so this will help corporate mergers. As for MK, the brand has been subpar for a long time shifting in the late 90’s from top grain leather to embossed leather or laminated canvas in the manufacturer of their handbags. The brand offers deep discounts because the low cost to manufacture the handbags and the inflated initial price assigned to the piece.
I saw a video of Senator Kennedy (we?) grilling L Khan on the FTCs “track record.” I guess Khan can go out with a “victory notch” for preventing a near monopoly in the accessible luxury handbag market. The next too 10% can get the MKs at a discount.
Question is why those mergers are happening. In their case they wanted to create a monopoly, which is illegal, so it’s good that this one didn’t take place.
Great video! I agree with you about personal safety concerns, especially when traveling, getting robbed on vacation is painful enough, but getting robbed with an authentic bag is even worse. To me, it makes sense to travel with a fake kislux bag and not carry any valuables that you would miss. Also, if your bag gets damaged by dust, stains, accidents, whatever it is, it doesn't matter even if it's fake.
When I first "got into" luxury handbags, I purposely bought a kislux . I wasn't trying to show off, brag, or pass it off as genuine, I just wanted to see if it fit my requirements and how it would sit with me before I spent money on the real thing (without the SA staring at you). Turns out, it didn't fit me. I saved a ton of money and time on returns. It made me very happy. It fit me perfectly.
Why does it even matter if a company has a monopoly over a luxury good. Consumers don’t need protection from luxuries, they can simply buy utilitarian versions.
Fun Fact: Women didn't start carrying purses until within the past century. Back when women wore elaborate dresses they had huge pockets sewn into them.
And now we need the government to "protect" them from "price gouging" on an item already naked up 5000% - what a country! And what does that say about women?
Could this be the case of the management consultant and internal strategist who got a bonus (in stock) for pitching the acquisition, who then got fired when the FTC prevailed, but who then cased out the stock for a big gain when the price rebounded?
I used my first winnings to buy a canvas LV and in less than two years the wallet was cracked/broken in multiple places and the store refused to repair or replace it. I don't know what kind of resale value such junk could have. I ended up donating it...well, maybe I might buy a fake LV from kislux but these designers/robber barons don't even think about taking another penny from me.
Part of why the FTC has been hamstrung with losses is because she was picked to head the FTC not because of her experience and proven success but the fact she's relatively young and a girl. This goes back to the fact that merit still matters in 2024 and the billions of tax dollars wasted should be obvious proof of this. That's billions that could have gone to fund other important programs and instead is now spent on major unnecessary losses. Lawyers love it. The average tax payer paying for it shouldn't.
It’s dumb antitrust case. Luxury and semi luxury brands? You don’t have to buy them. And if they corner the accessible luxury handbag market and raise prices. New brands with lower prices will take their place.
"true luxury" is also made by chinese, just they bring over the chinese to underground factories that havr sweatshop conditions and pay, it's very common in italy
handbags are stupid yes, but in no way should this merger have been blocked. they are not a monopoly, not by any definition. they have 59% control of one segment of the market, there are so many other brands of handbags out there its insane. this lawsuit is lunacy, I can understand why Wallstreet thought the lawsuit would fail.
This really pisses me off it is embarrassing to be honest. I can't believe we are wasting taxpayer dollars on a case like this. Anti-trust laws like this should exist to protect consumers on things they need. How does reducing the price of a high-end handbag help anyone? The entire purpose is to show off how much you can spend. Just a waste of tax dollars that we can't afford.
Luxury brands only change their strategies for the super rich...The price increases of Fendi, LV, Givenchy and the like are nonsense. Therefore, those ordinary rich people or middle- and upper-class people who can really afford it need to think twice before buying it. If they are just looking to save face, they will buy from kislux .
Just because European brands are made in Europe does not mean made by Europeans with high pay, they’re using East Asian people in underpaying them in sweatshop conditions. So Dior started sweatshops in Italy, worked East Asian people while under paying them .
I don't understand why Tapestry wanted to buy Capri when they were in a better position to start with and Capri slowly failing? Buying them just to stop discounting on similarly priced bags shows they don't understand their own market. People buy an MK bag over Coach or Kate Spade because their circle of friends are influenced by MK rather than Coach or Kate Spade not what it costs therefore they just wanted Capri so they could charge people more for all their bags is exactly why anti trust laws were set up! Why would you then say all that in memo's which have to be turned over to the courts? I think Tapestry knew the merger would fail so when it did the smaller company would wither and die as investors pull out which is exactly what is happening. Then pick up the brands it wants from a bankruptcy sale saving a lot of money and killing the competition!
@ so basically you are a racist business owner with nothing better to do. Good for you. Guess you fear someone who looks different from you coming after your business right?
Her policies make sense. In Russia. It's hard to imagine a retail good consumers need LESS than luxury handbags, or how somebody of at least average intelligence might come to the conclusion the free market won't sort it out.
Why would someone who has been buying from the brand for years or even decades suddenly have to pay 50-60% more for the exact same item? Inflation cannot justify this. It's like the brand is deceiving the consumer. On kislux , the bags sold are priced lower but of higher quality, so you might as well go there.
Styles are always changing. But the change of salary cannot keep up with the price. Then every penny becomes very important. I often choose *hotdups* now. If you don't care about what others think, you can save a lot of money for yourself.
The government is way too intrusive. This is such a small market segment that hardly any buyers would be harmed. To pay $350 instead of $300 for hundreds of buyers is too much government control. Sad how "free enterprise" and "market dominance" is interpreted by lawyers
I'm torn on this topic. I think buying fakes is morally wrong from an artistic perspective, but at the same time, the sky-high prices are equally morally questionable. After much deliberation, I chose kislux to buy bags... Perhaps the best luxury goods are things that have nothing to do with money and material things.
the problem lies within the definition of the word "prestige". Prestige does not mean "well known", it means "well known, aspired but rare". Thus it is an obvious implication, that a product which is baught by the masses, may stil be of quality and well known, but is not rare anymore. As a result, it does not match the definition of "prestige" anymore and lost its "prestige status".
Let's be honest. The luxury market isn't that expensive if you produce it at cost and take off the logo. The luxury logo is about 80% of the actual price. But the fact is that you're buying the image, showing off your taste, and making them think you have more money than you actually do, which is a very good thing. so kislux .
LV bags are heavily copied, and small cute bags with funny handles are not practical everyday bags, the kislux bag would be much more practical. Thanks again for the informative video.
from kislux bought a Birkin and I went into Louis Vuitton at South Coast Plaza with a friend who wanted to buy a card case and we received great customer service. They offered us water..LOL I would never buy authentic knowing that are just as good.
MK bags are copies of other brands. There's no innovation in their bags. And when you can see the obvious innovation in their watches and glasses, this really is a shame.
Sounds like an inside job for the buyer to block the sale. No opinion on handbags but I do think we need a better alternative to letting mergers create monopolies, or totally blocking acquisitions and sending declining companies into insolvency. Consolidation has so many scale benefits and its sad to see the expertise and infrastructure go to waste when there are no other buyers.
I think the FTC is very short sighted in not recognizing that the merger would have allowed better global competition. However, I believe that it was stupid that Tapestry kept records of how the acquisition would help them reduce discounting. They should have known better that this could be used against them. It is common knowledge for those that work in corporate America that you have to be careful about your communication about large public acquisitions.
Brands shouldn’t be allowed to merge and create companies that have more than 50% of the market. At that point they can destroy their other smaller market competitors , and then screw to consumer.
The American public: “Man, I would love if we could afford the basics in life.” The Biden/Harris administration: “Best we can do is file a lawsuit to make sure that Kate Spade and Coach don’t have a purse monopoly.”
think this all was a game. FTC head played big time. how and why? well, if merger is blocked, value of one company will definately go down, so final offer is good to have, but after they can back out, they can buy them later for much smaller amount, by using all market data etc. then, Khan gets profit on it when it will be sold later, and now, when tapestry value goes up. double profit. seems to me. they know what to do, when you control the money, its easy to make it. insider trading is pretty nobrainer. worst is, brands suffer while wall street again, makes profit. it all starts and ends there with profit.
I have a conspiracy theory that this lawsuit to block the merger was actually intended to be a satire, making fun of the tactics used by the FTC. Reasonably priced luxury handbags are definitely not a category for anti-trust purposes (they had to so hyper specialize the category that they couldn’t even include bags generically, just handbags in a very specific price range). Someone who reports to Lina Kahn put this in as a joke on the way that the FTC is now trying to subdivide markets to an absurd degree. Nobody got the joke, and now the courts are metaphorically considering whether Irish babies are in fact a delicacy. It’s the only way to make sense of things without becoming disillusioned with the entire federal bureaucracy.
A few years ago I bought a Birkin bag and take it with me everywhere I go. I worry about it getting stolen or damaged, so I'm worried when I go out. I was tired of this mental burden, so I bought the kislux bag.
Was it ever considered that Tapestry doesn't want it for Michael Kors but for Versace or Jimmy Choo instead and the Michael Kors brand itself is just an extra freebie in the merger ? Jimmy Choo would go well with Stuart Weitzman and Versace is more well known than Michael Kors.
👉 Head to brilliant.org/wallstreetmillennial/ to start your free 30-day trial and 20% discount on your annual premium subscription.
Ah finally, a WSM featured company that managed to go broke *without* merging with a SPAC!
And due to private equity
Utility, pharma, telecommunication, food processing monopolies are OK
Great show. Although I just bought a *hotdups* bag last week, I think it is enough to buy the products I like within my own consumption range. Why bother about the cost? It is good to spend the money you earn to bring yourself pleasure.
When I worked at Walmart we used to sell Michael Kors, you can't be sold at Walmart and expect to be taken seriously as a luxury brand.
Please use proper punctuation marks.
@@iu2 buy McDonald’s
@@iu2 You first.
I really like the explanation of this series. In addition to understanding the big brands, I also understand the history behind many big brands. It is important to choose products that suit your taste according to your different needs. I think I will continue to use *hotdups* .
Innovation in handbags? Oh, you were serious.
It's got a new hat!
Let me laugh even harder (bender)
I guess you could say Capri was left holding the handbag :)
Boooooooo
😂
Slow clap
I knew it, of Kors they would
You forgot to put your sunglasses on before saying the last part
It's crazy you can find someone to hand make you a truly high quality item for less than you can buy a mass production item calling itself luxury
If people want to pay more for the inferior mass-produced item, what does that tell you about most desirable characteristic of the item? That's right - it's the HIGH PRICE ITSELF. So what should we do about it?
@@joez.2794conspicuous consumption
Yes, but nobody will know that you own a high quality hand made item, while everybody will know you have enough money to afford 10k handbag.
Ya but that's changing.with many people struggling b n a hi roller dosent make u look rich it makes u look like a narsasis a hole.b n smart with money is back in fashion just like granny n grampa
I just don't get it.u got b real sholow 2 play big shot.i mean if your ok with wasting big$ on yourself knowing 100s of children die everyday from poverty.what does the mirror on the wall say about that.
There are dozens of handbag makers in the $100-$1000 range... Polene, DeMellier etc. The problem is, the brands that Tapestry and Capri own have heavy retail presence, whereas most quality hangbags in the 100-1000 range are mostly online.
Great video. "First world problems" was the main theme I felt the whole time lol
I have stopped buying designer bags because the quality has declined noticeably over the past few years while prices have increased. While on vacation in Spain this autumn, I bought an absolutely gorgeous handmade leather handbag for around 200 Euros ($215 US). It is well made, with quality materials and except for a discrete brass makers mark, no visible logos. I get to have a beautiful bag that I will enjoy wearing and not end up as a walking billboard for a company. And I don't feel the need to impress anyone by showing off that I would spend a ridiculous amount of money on something that I toss my car keys into.
9:22 "they argued that the combined company would have more resources to invest in product innovation."
Innovation in what? Handbags? What could they possibly innovate? Handbags haven't changed since the invention of the zipper....over 100 years ago. Before that, handbags were essentially the same for centuries. Don't ever be foooed by these mergers. They are NEVER good for the consumer.
These bags cost a couple of bucks to produce, but the companies want hundreds of dollars for them. Unsold inventory is destroyed to maintain scarcity. And we're supposed to believe that they care about consumers. Oh well, I guess the joke's on us in the end, because consumers keep paying those ridiculous prices.
@Tuppoo94 Agreed.
The software for the AI inventory does not write itself - yet
13:10 I'm German and I have to say I have never before seen charts colored like this. 😆
Thanks for the time stamp this is HILARIOUS! Sehr witzig!
I like this series very much. You are very organized and your ideas are very clear. I hope you can release a video about *hotdups* .
My wife has a very nice no name real leather handbag. Probably cost about $100. We can afford any handbag out there, but she does not. One of the reasons we can afford them is because we don't buy things for their status value, just quality products that will last.
Me too. No name handbag. Nice leather 100-150.00
Are you Warren Buffet’s doppelgänger? Or did you or your parents grow up in the 1930s?
Same. There are so many pretty and good enough for my use handbags for a reasonable price out there, I feel no need to get a more expensive one. 🤷🏼♀️
where do you buy real leather handbags?
I want every one of them! Especially *hotdups* !! And the color of the laptop is so beautiful. Am I the only one who noticed it? 😂
I’ve had a couple Michael Kors bags and they fell apart pretty quickly. Accessible is a weird niche, I don’t know if people stay there, it feels more like you’re on your way up or down.
Right? Early 20’s or poorly planned 40’s.
"Luxury hand bags" are pretty much at the extreme opposite end of things that might require government price controls in an otherwise free market.
It’s not correct to call those mid market brands “luxury”, they’re called contemporary brands in the fashion industry.
I like watching your videos, the bag explanations in this issue are very practical and vivid, I like the LV prototype *hotdups* bag the most, it is light and can hold.
In my 36 years on earth, I've never once even noticed what handbag someone was carrying.
i think women do though. It’s probably like how we notice super cars as guys
Try googling “PurseBlog bags of the Super Bowl” While you might not notice, bags have been huge in high end men’s fashion for years now.
@@good-tn9srWell I'm a woman and I don't. 😆
@@anna8282 hmm then my guess may be wrong 🤔
@@good-tn9sr It all depends on the person; my hubby wouldn't notice any car other than our own since they don't interest him. 🤷🏼♀️ Same with me and handbags. Never notice other people's bags, I do own a couple (non-luxury ones) myself but I usually just keep my stuff in my pockets. 😆 Cars and handbags are to us like toilet seats: objects with a purpose, nothing more.
Love the quality of your videos.
Michael Kors is not luxury. It’s wannabe
When you got it you don't need to draw attention to yourself with gimmick handbags.
The sad truth is all these companies make their money off poor people trying to look rich.
Poor people stay poor by trying to look rich and rich people stay rich by trying to look poor.
@@judyArsh Supplying the vice doesn't make the vice
Same with luxury cars
Chances are you actually can't walk into a store and buy a Hermes bag. You need to spend tens of thousands of dollars on other items with Hermes before you are considered legitimate enough to be allowed to purchase a Hermes bag.
A clever way to separate fools froom their money!
People who use these brands just give away their financial insecurity. Little to no value added - just cosmetic. Rich people would not bother to show off with LV. The buyers need to understand it gives them the opposite image perception than they intended.
It’s not always about projecting an image, or comparing to rich people. Maybe they just like the bag.
@ToLovelyJesus white true u and I know it'd mostly to stroke the weak ego
Great comment!
There's nothing bizarre about the age old fact that women buy luxury handbags to make a fashion statement and a wealth statement.
Lux bags are like factory store things, a lot are manufactureed by a third party at high volumes to have a label sewn in for mark up and to sell to social climbing middle class folks that think large logos = class. Conspicuous consumption. Guess started this type of movement by taking things they didn't make, putting their label on them and then basically becoming a licensing company.
Him: "What do you think of handbags?"
Me: "I don't. But this was a very good and interesting video nonetheless."
Well I just found a wallet on the ground and started using it. Beat that.
😂😂😂😂😂
Looking up to high fashion brands is like looking up to music or movie “celebrities”, it’s not an indictment on them, it’s that the consumer has an inferiority complex. And that drives so many luxury brand markets. Sad, really.
“walking around with a Michael Kors bag makes you look like a wanna be” WSM takes no prisoners 😂
So if someone was gifted a Michael Kors bag, they can’t carry it without being judged?
This video was excellent, but I gotta confess, from around the 5 minute mark, I found it hard to pay attention, since a recurring thought kept popping up in my head - A FUCKING HANDBAG COSTS MORE THAN $500? WTF
lina khan is so based for this
Sad that her time has ran out
@@WeGoToMars As soon as they get rid of her, I predict we’ll see companies merging into astronomical proportions.
No, she ruined a company
But she left Microsoft buy Activision because it paid her off
@ She didn’t. A federal judge did.
Except for ensuring the safety and quality of stuff we need to live, people should make as many knocks of luxury crap as possible.
2:45 Thank you for telling me what a handbag is. But really, good contents as always!
Never thought handbags would be so interesting 😂
A handbag monopoly certainly is possible; Kering Group and LVMH exist, and combined, make-up a majority of the luxury leather goods market globally. You can’t go into a high end shopping district without more than half of goods displayed being produced by one of the portfolio brands. LVMH alone composes 22-24% of that sector.
Yeah, but the biggest luxury brand in LVMH and they still are under a quarter of the market. This merger was more likely LVMH and Kering merging to make more than 50% of the market.
My handbag is a gothic cat’s face with tiny bells. I love it. It was very cheap but it is not common and completely “me”.
Wouldn’t trade it for anything.
6 minutes in and all I can say is what a stupid industry.
It feels like fashion brands from US never seem to make it. Else they often settled as mass market brands, like Kate Spade, Coach 😂
yea your average american doesn’t really care much for high fashion. Too pretentious
Not anymore, the USA has their first true high end luxury brand in The Row.
Well, Lena Khan is on her way out with the current administration so this will help corporate mergers. As for MK, the brand has been subpar for a long time shifting in the late 90’s from top grain leather to embossed leather or laminated canvas in the manufacturer of their handbags. The brand offers deep discounts because the low cost to manufacture the handbags and the inflated initial price assigned to the piece.
I saw a video of Senator Kennedy (we?) grilling L Khan on the FTCs “track record.” I guess Khan can go out with a “victory notch” for preventing a near monopoly in the accessible luxury handbag market. The next too 10% can get the MKs at a discount.
Question is why those mergers are happening. In their case they wanted to create a monopoly, which is illegal, so it’s good that this one didn’t take place.
Great video! I agree with you about personal safety concerns, especially when traveling, getting robbed on vacation is painful enough, but getting robbed with an authentic bag is even worse. To me, it makes sense to travel with a fake kislux bag and not carry any valuables that you would miss. Also, if your bag gets damaged by dust, stains, accidents, whatever it is, it doesn't matter even if it's fake.
Wilson's leather works just fine for me. Quality, stylistic, and reasonably priced. 🙂
Excellent explanation, thank you
Quite an interesting video. I wrote my thesis on luxury brand marketing which took around a year, so this vid was a good refresher
When I first "got into" luxury handbags, I purposely bought a kislux . I wasn't trying to show off, brag, or pass it off as genuine, I just wanted to see if it fit my requirements and how it would sit with me before I spent money on the real thing (without the SA staring at you). Turns out, it didn't fit me. I saved a ton of money and time on returns. It made me very happy. It fit me perfectly.
Pfp look like a red dot run this profile 😂
Why does it even matter if a company has a monopoly over a luxury good. Consumers don’t need protection from luxuries, they can simply buy utilitarian versions.
I remember how we referred to the 'Accessible Luxury' audience as Mass-tige back when I was in marketing.
Masstige is a familiar term in cosmetics and perfumes as well.
I ❤ learning new words. It's a perfect description. Thanks!
Fun Fact: Women didn't start carrying purses until within the past century. Back when women wore elaborate dresses they had huge pockets sewn into them.
And now we need the government to "protect" them from "price gouging" on an item already naked up 5000% - what a country! And what does that say about women?
Yes let’s make women wear those dresses again to stop them from spending their own money
@@joez.2794 goofball most women just own whatever cheap purse they fancy
Great analysis, thanks!
We need a hand bag SPAC!!
Could this be the case of the management consultant and internal strategist who got a bonus (in stock) for pitching the acquisition, who then got fired when the FTC prevailed, but who then cased out the stock for a big gain when the price rebounded?
I used my first winnings to buy a canvas LV and in less than two years the wallet was cracked/broken in multiple places and the store refused to repair or replace it. I don't know what kind of resale value such junk could have. I ended up donating it...well, maybe I might buy a fake LV from kislux but these designers/robber barons don't even think about taking another penny from me.
Part of why the FTC has been hamstrung with losses is because she was picked to head the FTC not because of her experience and proven success but the fact she's relatively young and a girl. This goes back to the fact that merit still matters in 2024 and the billions of tax dollars wasted should be obvious proof of this. That's billions that could have gone to fund other important programs and instead is now spent on major unnecessary losses. Lawyers love it. The average tax payer paying for it shouldn't.
It’s dumb antitrust case. Luxury and semi luxury brands? You don’t have to buy them. And if they corner the accessible luxury handbag market and raise prices. New brands with lower prices will take their place.
The prosecutor is an old rich woman
Sorta like when Honda and Toyota wanted to go upscale they created Acura and Lexus.
Never understood the appeal of MK. IMO it never vibed luxury to me but more a wannabe. Same with Kate Spade
I don't know if they all lose revenue in a recession. They are like expensive watches, they are just for showing off but not necessary.
Watches are more likely jewellery. Bag are a bit different, they’re considered essential by most women and many men too.
His chicken seasoning powder and ikan bilis seasoning powder are pretty good actually.
Wow. Talk about essential goods.
Most women and increasingly many men consider a bag to be essential.
@@kiwimike2330*A* bag yes, a luxury bag no.
Great work as always bro.. ❤❤
Working in a Handbag store has to be one of the most boring jobs. And the customers are probably insufferable.
They have decided to merge with Dollar General who will have exclusive access to the new Kors Lite line.
Hilarious how the AI voiceover consistently mispronounce "women" as "woman"
"true luxury" is also made by chinese, just they bring over the chinese to underground factories that havr sweatshop conditions and pay, it's very common in italy
handbags are stupid yes, but in no way should this merger have been blocked. they are not a monopoly, not by any definition. they have 59% control of one segment of the market, there are so many other brands of handbags out there its insane. this lawsuit is lunacy, I can understand why Wallstreet thought the lawsuit would fail.
I bought a kislux red mini Chanel bag, wish I had more Chanel bags, but considering my budget it's cool to have one bag
This really pisses me off it is embarrassing to be honest. I can't believe we are wasting taxpayer dollars on a case like this. Anti-trust laws like this should exist to protect consumers on things they need. How does reducing the price of a high-end handbag help anyone? The entire purpose is to show off how much you can spend. Just a waste of tax dollars that we can't afford.
Imagine buying a $500 Michael Kors bag only for it to be soon discounted to $50…ouch
Luxury brands only change their strategies for the super rich...The price increases of Fendi, LV, Givenchy and the like are nonsense. Therefore, those ordinary rich people or middle- and upper-class people who can really afford it need to think twice before buying it. If they are just looking to save face, they will buy from kislux .
Just because European brands are made in Europe does not mean made by Europeans with high pay, they’re using East Asian people in underpaying them in sweatshop conditions. So Dior started sweatshops in Italy, worked East Asian people while under paying them .
Handbags on a single woman could be a sign to a romantic interest that she is a high maintenance individual aka gold digger!😂
I don't understand why Tapestry wanted to buy Capri when they were in a better position to start with and Capri slowly failing? Buying them just to stop discounting on similarly priced bags shows they don't understand their own market. People buy an MK bag over Coach or Kate Spade because their circle of friends are influenced by MK rather than Coach or Kate Spade not what it costs therefore they just wanted Capri so they could charge people more for all their bags is exactly why anti trust laws were set up! Why would you then say all that in memo's which have to be turned over to the courts? I think Tapestry knew the merger would fail so when it did the smaller company would wither and die as investors pull out which is exactly what is happening. Then pick up the brands it wants from a bankruptcy sale saving a lot of money and killing the competition!
I’m a big fan of Khan. If the big corporations hate you, you’re probably doing your job right.
Until you piss Boeing off. Then it's the end of the line.
Found the shoplifter. And no, the idiot DEI hire only cares about prosecuting brands she is personally familiar with
@@AlexanderTheGoodEnough Shut up, pothead
@ so basically you are a racist business owner with nothing better to do. Good for you. Guess you fear someone who looks different from you coming after your business right?
Her policies make sense. In Russia. It's hard to imagine a retail good consumers need LESS than luxury handbags, or how somebody of at least average intelligence might come to the conclusion the free market won't sort it out.
Why would someone who has been buying from the brand for years or even decades suddenly have to pay 50-60% more for the exact same item? Inflation cannot justify this. It's like the brand is deceiving the consumer. On kislux , the bags sold are priced lower but of higher quality, so you might as well go there.
Never liked him as a Project Runway judge.
Styles are always changing. But the change of salary cannot keep up with the price. Then every penny becomes very important. I often choose *hotdups* now. If you don't care about what others think, you can save a lot of money for yourself.
The government is way too intrusive. This is such a small market segment that hardly any buyers would be harmed. To pay $350 instead of $300 for hundreds of buyers is too much government control. Sad how "free enterprise" and "market dominance" is interpreted by lawyers
I think you vastly underestimate the size of this market…it’s not hundreds of buyers, it’s millions.
Agreed. That's what you get with a Commie in the FTC and a bunch of brainwashed, tyrannical judges.
I'm torn on this topic. I think buying fakes is morally wrong from an artistic perspective, but at the same time, the sky-high prices are equally morally questionable. After much deliberation, I chose kislux to buy bags... Perhaps the best luxury goods are things that have nothing to do with money and material things.
Lesson : don’t write emails on why you REALLY want to merge.
There is something inherently wrong with a product that looses prestige because average people can buy it!
the problem lies within the definition of the word "prestige". Prestige does not mean "well known", it means "well known, aspired but rare".
Thus it is an obvious implication, that a product which is baught by the masses, may stil be of quality and well known, but is not rare anymore. As a result, it does not match the definition of "prestige" anymore and lost its "prestige status".
"Inherently wrong" how? Or more specifically, in what market? A free market?
Let's be honest. The luxury market isn't that expensive if you produce it at cost and take off the logo. The luxury logo is about 80% of the actual price. But the fact is that you're buying the image, showing off your taste, and making them think you have more money than you actually do, which is a very good thing. so kislux .
a new W$M drop. i am having an exceptionally good day. 📈🇺🇸
That segment is the one to be avoided. If you are not rich, don't try to look like one.
LV bags are heavily copied, and small cute bags with funny handles are not practical everyday bags, the kislux bag would be much more practical. Thanks again for the informative video.
Why does Stuart Weitzman always get left out of tapestry
RIP to anyone with MK getting called a “wannabe” at the end
from kislux bought a Birkin and I went into Louis Vuitton at South Coast Plaza with a friend who wanted to buy a card case and we received great customer service. They offered us water..LOL I would never buy authentic knowing that are just as good.
Kors coach and Kate spade are not luxury brands
2:38 ad skip
KOHRS…. Garbage products…. Buttons fall off, Belts crumble, expensive product, cheap production.
I didn't buy it to resell, I bought it kislux to own and wear. And to be honest, they look so similar, I'd rather buy a fake kislux .
But Microsoft buying Activision was absolutely fine!
MK bags are copies of other brands. There's no innovation in their bags. And when you can see the obvious innovation in their watches and glasses, this really is a shame.
Sounds like an inside job for the buyer to block the sale. No opinion on handbags but I do think we need a better alternative to letting mergers create monopolies, or totally blocking acquisitions and sending declining companies into insolvency. Consolidation has so many scale benefits and its sad to see the expertise and infrastructure go to waste when there are no other buyers.
I think the FTC is very short sighted in not recognizing that the merger would have allowed better global competition. However, I believe that it was stupid that Tapestry kept records of how the acquisition would help them reduce discounting. They should have known better that this could be used against them. It is common knowledge for those that work in corporate America that you have to be careful about your communication about large public acquisitions.
Brands shouldn’t be allowed to merge and create companies that have more than 50% of the market. At that point they can destroy their other smaller market competitors , and then screw to consumer.
The American public:
“Man, I would love if we could afford the basics in life.”
The Biden/Harris administration:
“Best we can do is file a lawsuit to make sure that Kate Spade and Coach don’t have a purse monopoly.”
Why is LVMH allowed to have a monopoly in True luxury segment ?
think this all was a game. FTC head played big time. how and why? well, if merger is blocked, value of one company will definately go down, so final offer is good to have, but after they can back out, they can buy them later for much smaller amount, by using all market data etc. then, Khan gets profit on it when it will be sold later, and now, when tapestry value goes up. double profit. seems to me. they know what to do, when you control the money, its easy to make it. insider trading is pretty nobrainer. worst is, brands suffer while wall street again, makes profit. it all starts and ends there with profit.
This was a huge waste of taxpayers money.
These are two fashion companies not pharmaceutical companies!
I think this dispute is what the British mean by "handbags at dawn."
I have a conspiracy theory that this lawsuit to block the merger was actually intended to be a satire, making fun of the tactics used by the FTC. Reasonably priced luxury handbags are definitely not a category for anti-trust purposes (they had to so hyper specialize the category that they couldn’t even include bags generically, just handbags in a very specific price range).
Someone who reports to Lina Kahn put this in as a joke on the way that the FTC is now trying to subdivide markets to an absurd degree. Nobody got the joke, and now the courts are metaphorically considering whether Irish babies are in fact a delicacy.
It’s the only way to make sense of things without becoming disillusioned with the entire federal bureaucracy.
My handbag 👜 hasn't been made yet
I never ever consider MK to be luxury
A few years ago I bought a Birkin bag and take it with me everywhere I go. I worry about it getting stolen or damaged, so I'm worried when I go out. I was tired of this mental burden, so I bought the kislux bag.
Was it ever considered that Tapestry doesn't want it for Michael Kors but for Versace or Jimmy Choo instead and the Michael Kors brand itself is just an extra freebie in the merger ? Jimmy Choo would go well with Stuart Weitzman and Versace is more well known than Michael Kors.