Book Review: Deluxe: How Luxury Lost Its Lustre
Have to admit when I first saw this book at a friends house I judged it by its cover, thinking it would be as pretty and superficial as its cover, I really wasn't expecting it to be as informative and as well researched as it was - I know shame on me!
Written by American fashion journalist Dana Thomas who has worked for some very reputable publications such as Wall Street Journal, Harper's Bazaar and The New Yorker. Deluxe focus is on the business of fashion and how the industry lost its artistic integrity when business men like Bernard Arnault (the chairman of LVMH) got involved, snapping up fashion brands in a ruthless manner. Thomas explains how luxury goods was once a niche market serving the needs of the wealthy while today it has become billion dollar super groups like LVMH compromising luxury's quality, design and status by selling luxury to the masses for the goal of maximising profits.
According to Deluxe the industry is worth $157 billion, with the major 35 luxury brands controlling 60% of this business. Thomas is very insightful, explaining in depth the workings of the industry both past and present, profiles some of the luxury industries biggest names and discusses who is buying into luxury today and why.
A brilliant book for those with an interest in fashion and the fashion industry. We all know the saying "not all that glitters is gold", well Deluxe points out the same can be applied to the luxury!