The Mystery of the $2,000 Ikea Shopping Bag

Why does luxury brand Balenciaga sell a $2,000 purse modeled after a $1 blue Ikea shopping bag? What’s behind the craze for seemingly distressed and worn-out Gucci sneakers? What is Sarah Jessica Parker doing rummaging through the dusty clothes in Rome’s Via Sannio flea market? Why is Cracco, a Michelin star–winning Italian chef, using commercial p... See more

As traditional luxury goods, such as the iconic Louis Vuitton monogram bags or Chanel number 5, have become more widespread and attainable than in the past, the wealthy need alternative ways to signal their prestige and power.

We tend to think of status symbols starting at the top tiers of society (among the glitterati and trend setters of high society) and then trickling down to the rest of society. But a new trend seems to contradict this pattern. Instead of adopting a new luxury product or embracing fresh high-end tastes, an increasing number of prestigious brands and... See more