Zerodha’s Nikhil Kamath doesn’t buy from luxury brands due to ‘their strategy of being arrogant’, but should you?

He explained that he doesn’t buy from ultra-luxury brands anymore as “their entire marketing strategy seems to be to offend and get some kind of a reaction out of you and then buy from them.” He added, “The most offensive thing is to go to a shop where they are marking up a product one is to 1,000 times and then say you can’t buy this product until you build a relationship with us or get on a list or all of these hoops that you have to jump through.”

Kamath further said, “It is not because they can’t manufacture more of that…they can go make a million of these bags and stuff but that strategy of being arrogant has worked so well for them that I think people have to be cognisant of that.”

We talked to designers about how they felt about his statement while weighing the pros and cons of buying from a luxury brand.

According to designer Renesa Rastogi of Label RCKC Aurum, Kamath’s statement reflects a growing sentiment among some consumers who are re-evaluating their choices. “It’s a matter of personal values whether you agree with his stance. Some people may appreciate his decision, while others may still value luxury brands for their quality and exclusivity.”

Although fashion designer Shilpi Gupta agrees that luxury brands do employ these techniques, she doesn’t think they are likely to change how they engage with their clientele. “Customers may explore other reputable and long-lasting substitute brands within the same budget range. To preserve their finances and sense of style, one needs to research and consider various options.” Well, let us help you do just that.

Here are the pros of buying from luxury fashion brands, according to the experts:

High-quality materials and craftsmanship

These brands often use premium materials and excellent craftsmanship.

Unique design and limited editions

Luxury brands offer exclusive and unique designs.

Resale value

Some luxury items retain their value over time, especially, as it has always been envisioned as a statement of refinement to carry a luxury brand. Though many do associate this statement with elitist behaviour.

What are the cons?

Rapid depreciation

While some items retain value, many luxury goods depreciate quickly. It has been found that after a short while of use, many very expensive products begin to wear off.

Ethical concerns

Some luxury brands face criticism for labour practices and environmental impact.

Are there any alternatives?

• Consider ethical luxury brands that focus on sustainability and fair labour practices.
• Look for non-luxury brands that offer high-quality products without the premium price tag.
• Evaluate your values associated with luxury brands or if you can find similar quality and designs elsewhere.

There are advantages and disadvantages to every purchase. Gupta emphasised that instead of just hoarding such items, “one must carefully consider if it is profitable and necessary to purchase them.”

📣 For more lifestyle news, follow us on Instagram | Twitter | Facebook and don’t miss out on the latest updates!