Are Retail Companies Like H&M Potentially Ruining Luxury Fashion?

     Last year, H&M made $14,103.8 million dollars in income, while Chanel made only $2,118.83 million. If companies such as H&M, Zara, and Esprit keep increasing sales, they could potentially decrease sales of luxury companies even further. The current recession has destroyed many top companies, even in fashion. It is clear, everyone is suffering right now. I knew even the top luxury companies were feeling some of the trouble. But could it really be this bad? Apparently bad enough for a top luxury firm to have sales seven times less than H&M.

     I really don't have anything against H&M. I think it's ingenius how all great couture in each store is priced low but remains good quality. However, all the company did was cut out the middle man. I guess this economy must really be suffering if companies are in such a rut that they haven't thought of this idea before.

    Part of fashion is glamour. We do sometimes tend to put a little glamour into everything we can, just out of habit. But fashion is still sort of glamorous, especially since celebrities still show up at every fashion show in every fashion week. Imagine a fashion world without the runway shows or the benefits. Besides the fact that thousands of jobs would be lost, as well as dreams crushed, the fashion world would be dull. A luxury company is just that, a luxury. If each Louis Vuitton bag isn't treated as a luxury, and real fine quality bags are sold on street corners or in grocery stores, Louis Vuitton is no longer a luxury. And the other luxury brands won't be either if we stay in this recession.