The DOWNFALL OF Luxury! Why Gucci, YSL and Celine are in trouble... 

Whenever I go into the city, the balenciaga store is always empty. I have no idea who is still shopping there

I wouldn't be caught dead in Balenciaga. The way they mishandled that disgusting photoshoot with kids made me despise that brand with a passion. Why would I put that 💩💩💩💩 on my body?

I think it is mostly the price increases. That has what’s got me not spending on luxury and I am a lawyer with a decent income. Most of the middle class / aspirational clientele simply cannot pay $5-10k CAD for a basic bag (I am Canadian). There is also social media fatigue cause of the constant bag drops. People are searching for uniqueness (which these bags are usually not) and more low key looks right now. Ps I also prefer Sabato’s Gucci. Way more in line with traditional Gucci and more chic. Just too high of a price for me…

After the scandal, I got rid of all of my Kering items and I refuse to spend any of my money on any of those brands owned by the parent company. Creeps…

You made a lot of good points Jess. However, we need to look to which demographics they’re basing their losses from and I think it’s the Asian market..and also we need to realize that the European/ western market has not been the priority for these companies for years now. 😊

Frankly Jess I’m just bored with all the new releases. I’m bored with quite luxury, I’m bored with all the collaborations, I’m bored with the new Chanel releases I’M JUST BORED WITH IT ALL. And I can’t tell you why. I’m trying to figure it out myself.

I can’t get over all the price increases AFTER record profits from the pandemic. That’s just greed, arrogance and pure evil, of which Balenciaga gave us a glimpse. Is that how you treat loyal customers? No wonder their stores are empty 🙄

They've basically told the aspirational customer to go pound sand, so we've listened. I've turned to the Japanese pre loved market, and while I can't say I'll never go back, it's hard to imagine doing so.

I don‘t think it’s about designers. People just don’t have extra money. Crisis took over. So firing the designer doesn’t change much. People would buy any 💩 from any designer, just add some pr, ads and done, but only if people have money. + their “cycle” in a fashion is over for now. Oh, and maybe now, when huge brands are struggling , there will be no or less, at least, uncontrollable , thoughtless, pointless PR gifts, like another LV bag, to “top” bloggers, stupid PR trips etc and finally brands will focus on a clients. Wishful thinking 😂

Such a spot on video! I'm on the internet looking for inspiration daily and there's literally nothing that makes me excited. You really nailed it.

Am surprised you don't mention prices x 2 x3 x4 .... Icare bag in rafia is 4600e in paris... That's not luxury, just craziness....

I brought a saint laurent bag in 2018 for £1300 its now £2300. Despite thinking its a great bag, if I didnt have it there is no way on earth I’d spend £2300 on it. Prices are now too much. Thats not inflation, its greed. Would prefer now to save a bit more and get a nice Hermes bag than spend that type money on trend bags.

Over the weekend, I went to the big mall in Southern California that has almost all of the big brand name stores and Louis Vuitton, Gucci, Celine, Chanel…no line in front of any store (I didn’t check Hermes).

I’m with you. I prefer Sabato over Alessandro. The previous Gucci was too out there for me. I also think that your will find a significant sales decrease with LVMH. To everyone’s surprise the lux houses actually benefited from the pandemic. No one could go any where and with the extra funds that may have been spent on vacations and such folk started to buy the bags they always dreamed of. This continued post 2020 and the houses got greedy with all of these crazy prices increases. The greed has come to a head now though…the economy in most countries is just chugging along and a lot of us are exhausted with all these darn drops and new collections. It’s just way to much. For every new bag I buy…I bought a new Gucci in January I buy 3-4 preloved bags. That means I might buy only one more brand new bag from boutique…anything else will be pre-loved as the prices are crazy and the quality is crap. Those are my two cents!

Love your commentary and following them in your videos. I think they're spot-on and couldn't agree with you more!

If Kering is doing so poorly, how have they not fired everyone at Balenciaga?!?

Many buyers of Balenciaga just didn't see the issue, which says a lot about their moral compass. When it comes to so-called 'fashion people' they have no real style. They cannot think for themselves.

I love this vid, and your t-shirt! Would love to know where it is from 🥰

Ppl were so irate about Balenciaga and forgot in 5 seconds but I just can’t believe in them or spend money 💰 there

The prices are also crazier than before. Gucci is wild, with their falling sales. I had planned to get a pair of Gucci sneakers for my birthday. They were just under $800, which is already crazy, but Gucci just had a price increase and the shoes went up another 10% or so. It really annoyed me, so I said forget it. They’ll be okay, I’m sure, peaks and valleys. Profits down for a time might just be their long game, since they also don’t want to over saturate their market and water down their exclusivity.

I just bought my Gucci Marmont Aria black with silver hardware at full price off the Gucci site because I couldn’t find it like new on eBay or fashionphile

I’d be interested to know which brands the 45% drop in profits is attributed to. It’s probably not across the board.

To think Balenciaga was a great couture house

I'd love to see Balenciaga to go back to their elegant roots. They'd be competitors for Dior & Chanel.

I loved Tom Ford for Gucci.

They could lower the price if they want sales.

I think brands were high from their pandemic hype and miscalculated their pricing strategy, then there are the musical chairs + merchandising teams constraining them providing uninspiring collections and you've got a recipe for low sales. And sure the economy plays a part but mostly its their own bad strategies backfiring. I agree with your Balenciaga take, how is the creative team still employed when other designers have been let go for waaaaaay less.

I have the radical opinion that a fashion brand that is created by and named after a fashion designer, should stop their business as soon as the designer is leaving or passing away. This musical chair game of the same designers going through all the fashion brands created by departed designers seems ridiculous to me. Investors should give designers the opportunity to create their very own fashion brand with their very own design aesthetic. But the consumer is so hooked and bamboozled on heritage logos/labels that it hinders the foundation of new inventive designer brands.

Good one! It’s interesting to see how creative shakeups play out. Agree the economy is the main issue. I do miss the old but like the new Gucci too. Their prices no longer offer the entry level luxury they once did. Seems like especially bad timing for that. I’m still on Kering Pause since nothing changed at That-B. Yup that’s the housecleaning that needs to happen! If Kering wants B- to stay their “bad boy” brand, fine, there are other designers who can do that. 🙄 I’m tired of wanting other-Kering bags but my disgust hasn’t wavered. Wonder if they’ve lost me as a customer permanently. 🤷‍♀️ Not like LVMH is a shining beacon of ethics but by comparison….. Any celebs at these B- shows or wearing/promoting the brand, I’ve Unfollowed. In some cases, stopped buying their brands. Just a drop in the ocean I know.

Good topic. Thank you for making the video. I’ve been influenced since 2016 and enjoyed buying several luxury handbags. Personally, I feel like I’ve reached my saturation point. I wonder if the marketplace in general might be similar?

How is Balenciaga still going. Who are these people buying from them. Shocking

Basically Kering fired the Creative director for the wrong House. They should have changed Balenciaga instead of Gucci. Although Sabato’s Gucci is quite refreshing. But I think Pier Paolo would be great for Balenciaga! I still love the motor bags from Nicholas era.

Gucci should've 2 creative director to balance the maximalist (alessandro) and the minimalist (sabato).

So Balenciaga is basically back in business because of it's "Kelly" retourne look-alike bag. Chanel made a Kelly as well 🤔yeah it is a sinking ship when the "wanted" bag is somehow tied to another fashion house ( Hermes) iconic bags and not tied to their own original ideas.

It’s just a cyclical trend that the luxury bags industry is not doing well. As to Kering group… it’s the parent that own Balenciaga, it’s has done nothing for the mistake of Balenciaga, so the leadership has issue. However, the eventual recovery of the luxury brands may take quite some time and may not reach the peak they once did, mindful that the trend was augmented by the blast in social media and the prolonged pandemic situation.

When Johnny Coca became creative director with Mulberry in 2015, he ruined the brand for me and many others. He changed the classic styles. Even on the purseforum, the Mulberry threads became very silent.

Those overpriced bags are for wanna be's as a huge bag lover and collector. I find more joy in cultivating a practical collection of bags I can use and the ones I can't afford I enjoy finding inspired styles to test out. I would love a celine vintage bag and a fendi but I simply got inspired versions to enjoy 1st.😊

I love Gucci Ancora. Love. SdS is the perfect man for reinstating Gucci as a chic staples house. Their pricing is problematic af, though.

New Gucci is giving replica, it’s over for them

Alessandro Michele was the era I fell in love with Gucci…..it’s never gonna be the same

Prices up quality down.

When they’re not playing musical chairs with other design houses, they’re doing collabs with fast fashion brands. I saw Victoria Beckham is doing a collab with Mango!

Many comments saying that sales have dropped because of the price increases and people not being able to afford.. While that my be partially true, a lot of people who can afford it, just don't find value on it. It is just pLin not worthy.

I do like YSL, but I prefer the pre 2012 fashion.

I will never look at a Balanciaga bag again!! I can only speak for America (kind of, I am no expert lol) I have read that the economy is not doing that great so people have started to pull back a bit and the stock market has been a bit volatile. I am not surprised that the luxury brands are experiencing a cooling off season especially since Millenials, Gen Z and younger (in America) are finding it nearly impossible to get jobs that can afford them basic necessities like a home! Most live at home with their parents so luxury shopping is a pipe dream. The aspirational shopper is being squeezed. I am in the minority I guess but I love when creative directors brand hop! It’s exciting to see how their design aesthetic will fit into an established brand. I do get why people are upset when things change drastically but I like chaos 😈

Looove your tee🫰🏻

Please, all the reasons why people aren't buying has always been there, the luxury market is very particular in that a selected few can buy...its not like zara or H&M... its just a little down turn going on, they will raise back up

Balenciaga’s new bag is iconic

Great video but as I said Gucci need Tom Ford back, Kering already brought Tom Ford brand . The economy is bad IM not spending $3000-4000 on a Gucci jacket I can only wear for 1 year. Sabato was making clothing for 20' something kids using their parents credit cards. Sabato Gucci was clothes you could only wear for one season. Tom Ford Gucci was luxury elegant pieces you can wear for decades. I guess they will bring Tom Ford back when Gucci is close to bankruptcy again.

GREAT TOPIC! Honestly, we have all felt … at least in America… the unforgiving economic shift. (Even if you have a disposable income, the future is uncertain.) Luxury brands NEVER should have increased their prices during what was predicted years ago, to be “a time of financial hardship across the world.” If the luxury bands want to stay in business, they have to play the game. It would not kill “their” brand to have decreased their prices (15%) until the economy was back on track. By doing so, clients might have contributed to invest in pieces from their favorite fashion houses. The men and women who are at the helm of such historic fashion institutions should do their homework. Read how their predecessors endured and overcame economic strifes in the past. (All forms of economic troubles.)

Great video! I don’t really keep up with all the latest in fashion news so this video was very interesting to me. I think things will get better. With changes in creative directors going to different houses, if they can blend that house’s style with their own creativity I think we will see some great things which would boost the brand. I wonder if lvmh is seeing any losses/smaller than expected profits? And eventually at some point, who knows when, the economic situation should get better. In Canada there are several reports predicting interest rates could decrease this year but who knows. By the way I love your shirt. Thanks for sharing ❤️

give these creative directors some time so they can adjust. Not everything they touched turn into gold.

It’s the timing not so much the designers. The economy, people spent a lot already during Covid times, no one travelled and had more time and money to shop. In addition they increased the prices thinking it’ll work but it didn’t. I like the new Gucci designer. I may get something from his collection.

I really want the new Balenciaga Le City in green 😔

I think that it’s time for some younger people to be promoted instead of playing musical directors. And yes, the Balenciaga staff needs to go. 😵‍💫

Idk which Gucci designers style I prefer,but every time I see someone wearing Balenciaga, I can't help but think ...is this person aware of that campaign ad????

Hi jess .yes there is something happening in the luxury world.i love it and adore bags.ive bought 3 this year.fendi,bottega n lv.but I no longer have 😊any interest in buying.i want another birkin or kelly.i travel often nvwill not impose any rules on my buys.if I feel like it I will buy but the enthusiasm is waning 😮

Its simple. Your stuff is too expensive and you purpriet yourself. Coupled with the mediocre quality it’s actually turning people off from luxury and waking them up

I loved Gucci when Frida Giannini was in charge 🥲

Gucci will do just fine 😂

I won't touch Kering owned brands with a bargepole now. None of them.

I adore Balenciaga even though that campaign was awful and that team deserved to be condemned. I am not a younger street style clientele either, lol. Balenciaga def has something for us older folks who like classics. ❤

Such inflammatory and clickbaitish titles lately babe. Don’t go there…..

I actually love Celine

It's one thing to pay $300 for a high quality, high design, leather handbag that will last many seasons. And it's quite another thing to pay $thousands for the same quality bag just because it has a certain label. That's just stupid.

Hi Jess! Ugh, I don't even look at Balenciaga. Cristóbal Balenciaga is flip-flopping in his grave. As for Gucci, I only like the Marmont line. And I love your kitten shirt! ❤

I do like the Rodeo bag without the extra's, but i will not buy Balenciaga

Balenciaga is thriving in the celebrity/hollywood world because they all either know someone who has perpetrated abuse and looked the other way, or have done it themselves - there, i said it. Most of us “normal” people have morals and will never support Balenciaga ever again.

Definitely will not be getting Balenciaga!

Luxury Designers are out and personal style is in. It's just not enough to wear a Chanel bag and look fashionable. Even with really standout personal style. Wearing a Chanel bag could actually kill your vibe. And don't be caught dead in Louis Vuitton 🤢. People wearing a 5k bag to go to Target look mental. Let's face it. Our lives are full of grocery shopping trips and errands. Where are we really wearing these bags? 🤔

Can you share which consigment store in australia that u recommend?

Balenciaga, mui mui, Celine to name a few are boring and not worth the money

There is a super financial crisis out there. It is far worse than the 1929 one!

Gucci luxury? I dont even clean my la butt with gucci water and napkins . For me only buy fron parada

Balenciaga is back, up 4 places to number 8 on the Lyst index.

Does anybody like Burberry?

Money laundering

Very nice video, you are so kind. But your review would have been better if you had done it with a *suluxs* bag, mark my words, you would have been blown away.