By now you’ve probably heard of Balenciaga. In recent years, the luxury fashion brand has made major waves. Their signature “dad sneaker” is one of the most sought after designer footwear. You’ve probably contemplated purchasing a pair only to be shocked at the price. Why is Balenciaga so expensive? Keep reading to find out!
Why Is Balenciaga so Expensive?
You’ve probably wondered to yourself why brands like Balenciaga are so expensive. Is the quality to blame for such a huge price tag? Not really. While the quality of Balenciaga’s designs is one of a kind, they aren’t worth its high price.
Let us let you in on a little secret. Brands like Balenciaga are able to mark up their pieces because of their popularity. The more prestige it has, the higher the price.
You’re also paying for an “experience”. What we mean by this is that brands like Balenciaga evoke a feeling of luxury. Therefore, purchasing an item from this brand makes you feel like you’ve stepped out of a high fashion magazine.
Also, purchasing luxury goods from designers like Balenciaga gives a sense of increased social status and perceived wealth.
Fashion brands like Balenciaga take advantage of people’s want to experience luxury. They purposefully mark up their prices and make a 97 percent profit.
Now that you know why brands like Balenciaga hike up their prices, let’s talk about a few reasons why they’re one of the hottest and most hyped fashion companies.
The Dad Sneaker
Back in 2017, Balenciaga released a sneaker that everyone had to get their hands on — the Triple S also know known as the Dad Sneaker.
At its core, this sneaker is a mesh and leather running shoe. The sole and heel are made of different patterns of rubber. It looks like something you would see soccer dads wear in the 90s.
While some were turned off by the design, others flocked to get a pair, especially after seeing their favorite fashion bloggers and celebrities sporting them.
The Balenciaga Triple S sneakers retail for a steep $895. Regardless of this price, people had to get a pair of these iconic Balenciaga sneakers. Why? Because they were a major trend and no one wants to be left out of a trend.
Ankle Sock Boot
Another Balenciaga shoe that took the fashion world by storm is the Knife Sock Boot. This expensive shoe features a pointed toe, short 3-inch heel, and skin-hugging jersey crepe the reaches mid-calf.
Like the Balenciaga dad sneakers, the ankle sock booties come at a pretty high price. These boots retail for $1,290. Despite the price tag, fashion lovers everywhere hunted for a pair of this signature Balenciaga shoe.
You can thank celebrity trendsetters like Rihanna and Cardi B for popularizing these booties. Who doesn’t wanna wear something superstars are wearing?
Will You Pay the Price For Luxury?
As you can see many people who pay high prices for luxury brand items aren’t paying for the feelings it evokes. Also, the hype surrounding the brand helps too. Why is Balenciaga so expensive? It feeds on consumer’s desire to keep up with trends.
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