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Thursday, July 21, 2011
The dark side of luxury
I recently finished a very interesting book by journalist Dana Thomas. Deluxe: How Luxury Lost Its Luster is part history, part expose of the luxury industry today. Thomas covers the rise of many major brands, including Louis Vuitton, Chanel, Hermes, and Prada. I'm a history nerd so I found each brand's background fascinating. But what was even more captivating was the way many luxury brands have become globalized, with their emphasis shifting from quality to profits. One shocker is that most brands are owned by a few large corporations, such as the vast holdings of the LVMH group, which owns everything from Louis Vuitton, Marc Jacobs, to Givenchy, as well as Moet & Chandon, Dom Perignon, and Vevue Clicquot champagnes. But most disturbing is Thomas' section on the counterfeit industry. Often made by children with the profits funding terrorism, fake handbags don't just hurt the companies they are imitating. Thomas' book is a must-read for anyone interested in the fashion industry or consumer culture.
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