Sunday Essays: High-end bags for less
LOUIS Vuitton, Coach, Gucci, Prada and Chanel are some of the most popular designer brands. From USA to Europe, from Australia to Asia, every lady dreams to own a bag from these popular designer bags. But what if it costs too much?
Bags for ladies today are more than just a storage thing; it serves as an accessory, a spice to every outfit especially if you have an LV bag or a Chanel pouch. It becomes a popularity mark.
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Evelyn Salt, a 21-year-old student, loves bags. She describes herself as a bag addict. Surprisingly, she has bags like Burberry, Chanel, Coach and Louis Vuitton even though she is still a student.
She shares that these bags are just replica of high-end designer bags that she dreams of. She said that she can't afford those authentic designer bags because they are too expensive, so instead of just wishing all day long of owning one, she goes to famous Chinese stores on Uyanguren Street to buy replicas. She said she is satisfied with the bags because it looks original but she is not satisfied with the quality.
What are replica handbags? How can we identify that this is replica? Is the selling and buying of these replica bags legal?
Replica bags are created to resemble the look of high-end designer bags. It gives satisfaction to consumers who can’t afford to buy the authentic ones. Though in the first look, the replica bags may seem the perfect answer for hectic budget and to paying the high price tag of a famous name bag, there are several downsides on purchasing these replicas.
First, the quality is not good enough. It isn't durable. The materials used aren't of high quality unlike the authentic ones made with high quality leather, fabric and hardware. Second, the craftsmanship of these replicas is low which makes the bag cheaper.
In the market today, if a product sells like hotcakes, cheaper copycat versions are likely to follow. That is the system in the country today. Bags made in China are seen everywhere. They are cheap and some can satisfy the cravings of a bag addict.
That is why 7 out of 10 ladies prefer replicas because it is cheaper and for them, it is their way of being practical. Though majority prefers to own replica bags, there are still few who buy authentic products because they are after the durability of the bags.
They believe that these designer bags will last a lifetime. Jo-Ann Prasas, a 29-year-old district manager of a pharmaceutical, confesses her addiction to bags. She shares that every pay day she tries to buy or order a bag to satisfy her addiction. But it never crossed her mind to buy a replica only because she is very particular with the durability of the bag. She said that it is more practical to buy the authentic one because it will last for years and you can pass it to the next generation because of its durability.
Prasas also added that the authentic bags can now be pawned. For her, these bags become an investment.
Businesswoman Jeanette Rono, 49, has an online store that sells replica bags. She said that selling replica bags is easier than selling the authentic ones. She also said that she got her stocks from China and Korea but she defends that the bags she sells are class A so it really looks like the authentic one only that the quality is not the same.
The desire for designer bags and the demand for these have reached new heights. The designers of high-end bags find this issue alarming. Their profits had been affected by these replicas. The companies behind these high-end designer bags say that buyers are unwittingly underwriting organized crime, not to mention compromising the sanctity of intellectual property.
There are laws against the replication of hand bags in America and Europe but these are applied in Asian countries especially in the Philippines. Filipinos want to look like their favorite Hollywood celebrities carrying a Hermes or LV bags, but in a country like ours where poverty is everywhere, few people can only afford these high-end designer bags.
According to the copyright law, it is not illegal to copy the overall design of a handbag but what is illegal is the copying of the brand and the signature of the brand.
But why do we have replicas in the country? Is it mainly because the Filipino consumers are also fond in buying these replicas?
Is it a fake world that we are living right now? These fake products are putting the global market down. It can also be considered as a crime. For decades, creative intellectual properties have been covered by copyright law but there are no actions made by the government to stop this crime especially in the Philippines.
There is nothing wrong on being addicted to bags and to be fashionable with bags. Authentic or replica, it really doesn't matter. It is how you carry yourself with the bag.
Gucci, Fendi, Armani and Hermes are some of the brands that everyone wishes to have but not everyone can have. Quality versus quantity, durability versus practicality, authentic versus replica, legal versus illegal. We can always choose. It’s all up to us.
Prada posts record year on Asian retail boom
operating profit in 2010 ahead of an expected stock market listing in Hong Kong as early as May.
The company, which also includes the Miu Miu, Church's and Car Shoe brands, said its earnings before interest, tax, depreciation and amortisation rose 85 per cent in 2010 compared with the previous year to €535.9m. Net revenues rose to €2.05bn, up 24 per cent at constant exchange rates and beating Prada's internal targets.
Following the earthquake in Japan, analysts have suggested that Prada, like other companies, may consider delaying its stock market listing later in Hong Kong due to the ensuing economic volatility.
However, a financial source close to the discussions said the company saw no reason to delay the listing. It is expected to list about 30 per cent of the group as it seeks to tap the higher valuations being gained by companies listing in Hong Kong compared with Europe.
Prada's figures come amid a sharp rise in luxury goods sales among the largest European groups as consumers from China, but also the US, Europe and the Middle East snap up expensive handbags and shoes.
It also follows moves by other family owned Italian fashion companies to boost their financial muscle in order to compete in the international luxury goods market. While Prada is considering a stock market listing in Hong Kong, Bulgari the family owned Roman jeweller, has opted for a buy-out by LMVH, the French luxury goods group.
Revenues at Prada, which started out as a Milan leather goods company based in the Galleria Vittorio Emanuele near the city's cathedral, had benefited from a rapid expansion of its directly owned stores. The group said it had 326 directly operated stores in 70 countries, up from fewer than 300 a year ago, and intended to invest in more stores in the coming months.
Sales grew 22 per cent on a like-for-like basis at its retail network compared with a rise of 6.5 per cent at its wholesale business at constant exchange rates. Sales from Prada's retail network account for 70 per cent of its total revenues.
The Asia-Pacific region, including China, led growth at the group with sales up nearly 50 per cent. Sales in the US were up 21 per cent and in Europe 20 per cent. In Japan, which accounts for 11 per cent of Prada's business, sales were up 16.6 per cent.
Patrizio Bertelli, who, with designer Miuccia Prada, is the mastermind behind the fashion group, said the results were the best in Prada's history and "today the Prada Group can count on a strong industrial and distribution platform, capable of seizing the best opportunities in all markets".
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