The Devil Does Not Wear Prada in China

Prada is one of the few brands in China which is thriving, despite the continuous campaigning against spendthriftiness and conspicuous consumption. Chinese government officials, many bloggers say, are spending far too much on luxury clothing and other luxury items which seem to be way out of reach for the amount of money they claim to bring in. As it is a jail-able offense in China to spend “too much” on luxury items such as fancy watches, consumers are moving away from flashy and blingy brands like Gucci towards brands which are still regarded as luxury but are far more subtle and don’t have the flashy logos which give them away. Louis Vuitton and Gucci are likewise trying to deal with this phenomenon, which is taking place in more urban areas, by responding with less logo-centric designs. These designs are intended to capitalize on the distaste many common people have against designer fashions, by making their products more subtly luxurious rather than overstating the wealth of the wearer. Would business owners who have a lot of wealth really want these products, assuming they could obtain and not face public backlash over wearing the flashy and conspicuous designs? Nevertheless, the stock value of Prada is interesting, and it is named an Asia Super Ten Stock.

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