Kwak Ji-yoon, a 42-year-old South Korean housewife, used to be a loyal customer of Louis Vuitton but she does not buy LV bags any more. Instead, she recently bought a $1,000 white metal-studded handbag made by Alexander Wang.
“I already have five Louis Vuitton bags. When you take a subway, you see three or four Louis Vuitton bags in just one carriage. People no longer say ‘wow’ when you carry an LV bag,” she says. “But my friends ask where I bought my new handbag because the design is not common. And it is much more affordable than traditional luxury bags.”
Read more at Financial Times.