OWN YOUR LOOK.

I think the answer all depends on the brand in question. Some luxury brands are amazing and provide great value for what you buy. Others are amazing and cost a lot, but the experience with the brand is great. Others cost a lot and give little in return except status.

I would say that Rolex fits the first description. Expensive, yes. Great timepiece, yes. And it keeps its value, so if you want to sell it down the road, you will likely get what you paid for it or more (assuming you’ve held onto it for a reasonable time).

From my perspective, a designer bag or luggage is the last category that gives you little other than status. There are other products that function just as well, if not better, for much less money. You are paying more to have, Gucci, for example, plastered on your bag. That label provides nothing in the way of value or benefit.

Your brand marketing has a lot to do with how your brand is perceived. Telling the right stories through your marketing can also make or break how your luxury brand is perceived. For example, BMW is known as the Ultimate Driving Machine. They’ve created a good story about that, and the cars back up the story.