As of 2019, the luxury apparel industry in the U.S. values at $18.75 Million and has massive growth room based on the market study conducted by Statista. The term “luxury clothing” tends to intimidate a lot of consumers as they automatically think of expensive designer brands that easily cost several thousands of dollars. In truth, luxury clothing is more of a feeling the item gives off with its textures and overall effect. So if you’re on a budget, is it possible to obtain pieces of luxury clothing?
It Starts With Your Funds
Money always factors into fashion even when you’re the one creating the pieces yourself. A good rule of thumb is to limit clothes budget to around 5% of after-tax income according to Pete Dunn, a financial planner. To see what fashion pieces are practical, it’s good to establish your funding, and in some cases you may want to make use of sensible lines of credit to help you achieve your luxury closet. Getting a clear picture of how much you have to spend can help to give you a better idea of what pieces you consider priorities to invest in immediately, and which can wait for a later date.
It’s All in the Details
Fashion-conscientious individuals will know that the reason luxury brands are sought after is due to the small details. Upscale luxury brands will usually not have visible zippers, have practically invisible hemlines, and will always have straight stitches. There are alternative pieces that look just like the luxury brands but do not take into account the small details. So if you’re going to purchase similar prints or styles, keep an eye out for the finer details so you’ll get your luxury look for less.
The Power of Mix and Match
Luxury brands like bold colors and varying textures. If you’re on a budget, it’s good to invest in pieces that you can mix and match with others. Staples of luxury clothing are ankle pants, a classic leather belt, pointed footwear, cashmere sweaters, and a good trench coat. These are staples because they have repeat usage with other trendy luxury clothing brands. You can think of them as different members of the same family; putting them together equals fun and a luxurious family reunion.
Finding Reliable Sources
Having an idea of what pieces go together works but will come to nothing if you don’t know where to find the pieces. It is commonly said that the internet is the best place to look but the amount of scams is disheartening. A good alternative is to try out reliable places like Rent the Runway or Le Tote where fashion junkies can rent luxury brand clothes for significantly less. They have a rotation system that consumers can take advantage of. When something is no longer in the rotation, they tend to go on sale for a 70% markdown so you can actually own high scale pieces for significantly less.
Luxury fashion is fully attainable for anyone who knows what they want and knows where to look. Fashion is all about the absorption of trends and putting your own spin on it to mark your identity. It will take a bit of effort on your part but ultimately, it is entirely possible to have luxury clothing on a budget.
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