Most Expensive Designer Brands — and How To Afford Them
Your taste for luxury doesn’t quite align with your budget. Don’t feel too bad, as you’re hardly the first person to face this dilemma.
Read: How To Build Your Savings From Scratch
Owning the most expensive designer brands is a status symbol that feels prestigious. Plus, these items are made from the finest materials, so you know you’re investing in a quality product that will last.
Keep reading to learn more about which luxury brands have the heftiest price tags and how to afford these items on a standard budget.
What Is the World’s Most Expensive Brand?
Here’s a look at some of the top designer brands in the world, according to Brand Finance’s 2022 annual report. This report covers the most valuable and strongest luxury and premium brands.
Brand | Valuation |
|---|---|
Porsche | $33.71 billion |
Louis Vuitton | $23.42 billion |
Gucci | $18.11 billion |
Chanel | $15.26 billion |
Hermès | $13.49 billion |
Cartier | $12.41 billion |
Dior | $9.02 billion |
Rolex | $8.35 billion |
Ferrari | $8.04 billion |
Porsche and Louis Vuitton are two of the highest-valued luxury companies. If you’re wondering which designer brand has the highest price tags, that changes frequently, due to current inventory.
5 Ways To Afford the Most Expensive Designer Brands
You want to add clothing and accessories from some of the most expensive designer brands to your closet. However, right now you don’t have the funds to just walk into the store and purchase brand new items.
Thankfully, there are plenty of ways to afford these items, as long as you’re willing to get a bit creative. Here are a few ideas to get you started.
1. Seek Out Pre-Owned Items
Personally, you wouldn’t dream of parting with items from top designer brands, but everyone doesn’t share this sentiment. Many people purchase these items, then eventually sell or donate them.
Check local thrift stores and estate sales — especially in wealthy parts of town — to find designer discards. You can also shop on verified resale sites like The RealReal and buy former designer rentals from Rent the Runway.
2. Shop Sample Sales
If you haven’t been to a sample sale, prepare to be amazed. During these events, brands offer steep discounts on overstocked items, usually from a previous year or season.
You can find them in-person in major cities like New York City, Los Angeles and Miami. However, you don’t have to live in these areas to enjoy these discounts.
There are plenty of legitimate online companies that offer these limited-time sales. Some include 260 Sample Sale, Gilt, Rue La La and Chicmi.
3. Focus On End-of-Season Sales
Like every brand, high-end designers are eager to get rid of inventory at the end of the season. Many companies offer steep discounts on items that either already fall into the category of last season or soon will.
You can find these sales on some designer websites and at high-end department stores like Bloomingdale’s, Nordstrom and Neiman Marcus. As always, if you’re not located near one of these stores, you can also find these discounts online.
It’s up to you whether you want to purchase these deeply discounted items and put them aside until next year or work them into your wardrobe as long as the weather permits.
4. Take on a Side Gig
Sometimes, you can’t wait for designer clothing and accessories to go on sale. Whether you’re going on a posh vacation, attending a fabulous event or simply spotted an item you must have, you might want to purchase select high-end goods in the near future.
As your budget currently stands, there’s absolutely no room to buy full-price designer clothing. This means you’ll need to take on a side job to earn extra cash.
Thankfully, in the current gig economy, this has never been easier. There’s no shortage of ways to earn extra money for your designer fund. Some ideas include:
Pet sitter
Babysitter
Freelancer
Tutor
Food delivery driver
Personal shopper
Some people might pick up a few of these jobs as a side hustle stack. Most of these jobs offer flexibility, so you can work when you want, allowing you to earn cash for designer goods when it’s convenient.
5. Rework Your Budget
It’s possible you already have the money to buy the most expensive designer brands, but don’t realize it. Take a look at your budget to see exactly where you’re spending your disposable income, because there might be opportunities to cut back.
For example, if you’re regularly going out for expensive dinners and drinks, staying in a couple of extra nights per week can add up fast. If buying high-end designer clothes and accessories is more of a priority to you right now, this may be a way to quickly afford those coveted new pieces.
To further emphasize, if you take this route, only seek out ways to reconfigure how you’re spending disposable income. No matter what, never touch your savings to buy designer goods.
Final Take
When you are wearing something expensive from a brand like Louis Vuitton, Gucci, Chanel, Hermès or Dior, it can make you feel confident.
While the most expensive designer brands are much easier for the wealthy to afford, anyone can get these items in their closet with a bit of creativity. If you’re willing to put in the effort to seek out secondhand finds, scour sample sales and search for end-of-season sales, you might be able to find some affordable gems. Some people might even take on a new side gig or reconfigure their disposable income budget, so they can build up a seriously enviable designer wardrobe.
Data is accurate as of June 6, 2023, and is subject to change.
This article originally appeared on GOBankingRates.com: Most Expensive Designer Brands — and How To Afford Them
