Luxury fashion brands tend to enjoy special longevity, largely thanks to the reputations they’ve carefully crafted over decades. The reputation of a high-end fashion brand, and the prestige attached to its name and logo, tends to flow from the consistent quality of the goods produced. A certain sort of customer is willing to pay premium prices for products built from premium materials, and to exacting standards.
But exactly how is it that these brands have managed such longevity?
Why luxury brands seem to be eternal
The first thing to point out is the effect of selection bias. Luxury brands take a long time to establish themselves. The ones that succeed and thrive are remembered, while the ones that founder and fail are forgotten. When we discount the second category, it’s no surprise that all of these brands seem like they’ll be with us forever.
The products produced by these brands tend to be very expensive, as we’ve mentioned. But we shouldn’t confuse ‘expensive’ with ‘overpriced’. The value of these products tends to persist over time, because they’re built to a standard that will resist wear and tear, and they’re often designed to be regularly maintained and modified.
What are some of the most recognisable brands?
One brand that’s almost inseparable from its luxurious reputation is Rolex. This high-end watchmaker started life just before the First World War, in London. The company initially worked by selling the internal mechanisms imported from Swiss watchmakers and selling them to jewellers, who could use them to build their own watches.
After the war, the name ‘Rolex’ was adopted by Hans Wilsdorf, one of the company’s owners, on the basis that it would be legible on a watch-face, and that it sounded a little bit like a watch being wound. So, even at this early stage, branding was everything.
Louis Vuitton is a company that now appeals to big-name celebrities across the world. It’s renowned for its quality leather goods. The fashion house was founded in 1854 by Louis Vuitton himself, who had worked out that flat, stackable cases were better than round ones. A century or two later, and his namesake makes billions in revenue every year.
Gucci came to be in Florence, in 1921 (though the family name goes back centuries further), with the establishment of a shop selling imported handbags. The proprietor, Guccio Gucci, had spent time working as a bellhop in the Savoy Hotel in London, where he acquainted himself with the needs and tastes of wealthy clients. This experience gave him a significant advantage when he came to make his own bags. The name is now known in households across the world!
Exploring the Market for Pre-owned Luxury Watches
Exploring the market for pre-owned luxury watches entails purchasing previously owned timepieces from prestigious brands such as Rolex, Patek Philippe, IWC, or Omega. Although it may appear daunting to newcomers, this market provides access to rare and desirable models, including those no longer produced by Rolex.
Enthusiasts are often drawn to vintage Cartier or Omega pieces for their enduring elegance. In 2024, Rolex ended production of several models, making them more attractive and increasing their market value.