In the weekend edition of The Business Times, guess what is on the front page? It is the "Rise of the manbags and the $2,500 shoes!"
It reports that men are splurging on themselves and they "buy the bigger (Celine) bags and use them as document bags, gym bags..." Wow! I am still using whatever free bags I get.
See: My briefcase.
Prada's men's shoes range from $800 to $1,500. Not atas enough? Why not customise your shoes from a minimum of $2,500 a pair?
Yikes! My shoes usually cost $30 to $60 a pair and I wear them till the soles are worn out which usually takes 2 years or so.
The latest Bain & Company study found that men now account for 41% of the global luxury goods market, up from 35% in 1995, and in a market that is almost 3 times bigger!
I learn something new this weekend...
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22 comments:
Hi AK,
Wow 3 posts so far today! You are 'productive' haha.
Yeah I was surprised that this is on BT cover page - looks more like an advert to me. I guess it targets BT readers quite well.
I believe one should pay for a pair of reliable and comfy shoes, esp. if one need to stand or walk a lot. Need not be in thousands though - I guess anything above $200 or so is just for the 'status'.
Have a good weekend,
Eugene
Hi Eugene,
Haha.. Productive indeed. Just in the mood, I guess. ;p
So, you would pay $200.00 for a pair of reliable and comfy shoes?
I cannot imagine how a pair of shoes that cost $2,500 can give anyone a feeling of a higher status though. They are on the feet. Who would notice?!
If we want to show off a Panerai or some relatively expensive watch, check the time more frequently. Shoes? I wonder how. OK, ok... I'm being evil here. ;p
For years now, my shoes are from BATA. Leather shoes and running shoes, both. $60 and below for a pair.
I spoilt my BATA in 5-6 months, when the sole really gives up.. but a pair of Pedro shoues can last me 1 year ++?? End up about the same.. :P hahahahaha
Hi pero,
Wah! You wear out your shoes so quickly?
A friend of mine destroyed his Pedro shoes within 12 months. Cost $100 or so a pair after discount. Not too bad.
I don't know but my BATA shoes are still good after 12 months. Lucky, maybe. :)
Hi AK,
Haha the foremost condition is the quality of the shoes though I haven't tried that many to actually know which are the better ones. I would say around $100-$150 maybe...
Ahh I see that you like BATA, I tried several times and find that the quality varies quite a bit - depends on luck I guess. Somehow my impression is that their shoes aren't that reliable hehe.
I think branded goods aren't always meant for 'showing', instead it's more of the mentality that one can afford it and has 'reached' a certain status. But of course branded clothes etc. double up as 'showing off' too.
Eugene
Hi AK,
The men's talk here is making me extremely guilty! It's no wonder you could build your nest eggs so steadily. $30 to $60 for a pair of shoes? Wow. I'm not sure if any of my shoes cost so decent. Very embarrassed to say and I own some 70 pairs of shoes! Enough to last me a lifetime, I guess.
You are certainly right to say that branded or not, people can't really tell. It's just our materialistic instincts or the snob mentality that drive the purchase behaviour. For some people, part of growing up is learning to rationalise that materialism equates to wastefulness and excess consumption hurts the environment and perpetuates economic/social inequity. And yes, I'm still learning to grow up. Hahaha.
Hey, you have been a good role model of frugality. For the past 2 months, I have taken small steps in reducing my shopping sprees and hopefully, by 2013, I can cut my unnecessary purchases by 90%! Maybe I should chronicle my journey to frugality too?!? :P
Cheers,
Endrene
Hi Eugene,
I have been a BATA customer since my kindergarten days. Hahaha... There was a time during my late teens when I didn't buy anything from them because I thought it was "low class". Yes, I went through that phase too. :(
Shop at BATA during festive seasons, get discounts and link points too! Good leh. Shoes are comfortable and inexpensive. I bought a pair of sandals from them too recently after my TEVA gave way.
I know what you mean about "mentality". :(
A friend was shopping for a watch that costs about $4,000. When I asked him if there was any specific brand/model, he said he was not sure. So, I asked if it had to be $4,000. He said his mentor told him that he should buy a watch that was around that price to show that he had arrived. Er...
Then, another friend actually sold his Mazda3 to buy a BMW323 when he became a private banker simply because his new boss told him private bankers should not drive cars like Mazda3. He just joined the bank and he did not even have a client base yet! -_-"
Anyway, I like BATA. They should pay me to do an advertorial. haha.. ;p
Hi Endrene,
70 pairs?! You definitely are a poor candidate for a shoebox apartment. You would need a room just for your shoes. ;p
Anyway, if this report is anything to go by, I think it won't be long before males become as strong a force as females when it comes to luxury goods expenditure!
Yes, we don't need very much to be comfortable in life. Excess is not just bad for our wallets, it is bad for the environment. ;)
Please chronicle your journey. If you don't have a blog and do not wish to start one, you are welcome to email me your articles and I will publish them in my blog. You are a natural wordsmith. :)
Hi AK,
Thank you for thinking so highly of me. Natural wordsmith? More like an Ah Lian trying to 'upclass' with knowledge and vocabulary acquired from prolific and proficient writers like you! Haha.
But seriously, really appreciate your sweet gesture in offering to publish my guest posts on learning to be frugal. That's certainly one way to force me to stick to my plan. But at the risk of losing your loyal readers? Too much of a risk for you!
Well, if I do have inspiration to write something sensible, I'll certainly drop you an email to see if you wish to develop those ideas. Frankly, I use to blog once in a while when I was on Friendster. Then a short stint at a Corp Comms job painted my world grey and doused my interest in writing. Since then, I haven't written much though I do find writing quite therapeutic. Someday I will pick up my pen again when I have something interesting enough to share or when my funny bones getting funnier and I feel the urge to spread some happiness. :D
Cheers,
Endrene
Hi Endrene,
"Ah Lian" would be XiaXue. I have the highest regard for her as a blogger and as a person but she is an "Ah Lian" and a very articulate one too. ;)
You are too modest lah. Hahaha... Well, whenever you feel like doing a guest post, just send me an email. I really hope you do. :)
Wave good-bye to a grey world and usher in a world full of colors. ;p
Colors of the Wind.
Hi AK,
Yeah I also try to buy things during sales too - why bother paying the full price when you can wait a while for discounts?
Well there will always be people who are willing to splurge on branded stuff (more males too apparently) so we should thank them for stimulating the economy haha.
I'm not surprised by your two examples and certainly we see them often - although I would much prefer to have loads of $$$ in banks or stocks instead of spending them on expansive accessories.
Best wishes,
Eugene
Hi Eugene,
Wow, you woke up pretty early today. I woke up early too at 5am to send my dad to the airport. Yawn! I think I shall go sleep a bit more. ;p
Yes, we are all made differently and we develop differently too. There are savers and there are spenders.
I wonder what would happen to the world economy if all the rich should behave like Ingvar Kamprad, Warren Buffet, George Soros et al. Hahaha.. Actually, if all the rich commit to philantropy like WB, it could be a better world. :)
Hi AK, instead of looking at brands for leather goods, I prefer to see where are they made. I am quite into 'made in Italy' leather stuff like wallets, belts or even shoes as I do find them classy looking and most importantly reliable in their workmanship like stitching :)
Hi Kyran,
I don't know about "Made in Italy" but the leather wallet bought with my first pay cheque was "Made in W. Germany" and I only retired it this year after 15+ years. My new leather wallet is "Made in Germany". ;)
There goes the saying "east is east and west is west and never the twain shall meet". Haha... ;p
Hi AK,
Haha nope I don't wake up so early - it's because I'm in the USA.
Eugene
Hi Eugene,
Ah, so des ne! Go to the factory outlet malls quick quick. ;p
Kenneth Cole leather shoes for US$39.90 and Oakley polarised shades for US$99.00! I think I will blog about this in my travel blog. Hahaha... ;)
20% of the price will fulfil 80% of the functions. And I am the very practical type, no fancy looks or flower vase type like those branded stuff.
My Merrli shoes lasted an average of 2 years, using almost daily - for work, outing & hiking. Cost ? Was about $90-100 per pair. Will need to replace them after this winter trip. Perhaps opting for the waterproof version for a bit more $.
I had replaced them when the sole worn out, but even then those shoes ended as my wet weather backup or to the crews of my fav Bali dive shoe. They LOVED this more than ever.
About the status thingy. During my humble time, working at a local grand hotel's front desk. Many of those self-made millionaires that I have helped to checked in, rarely are the atas brand type. I even spotted one with a simple Timex (like our NS day's casio) watch. So, perhaps AK indeed belongs to that class.
^-^
Hi SnOOpy168,
Very rational once again. haha.. Yes, functionality and quality at a good price is more important to me than branding these days.
I don't have a Timex but I have been wearing the same two watches which my parents gave me when I started life as a working adult some 15 or 16 years ago. ;p
A couple of years ago, I bought a $49 CASIO to wear when I travel. I would be quite sad if one of the two watches my parents gave me were stolen. If the CASIO should be stolen, so be it. Haha.. I value things which I have emotional attachments to very highly. :)
By the way, how did you know those wearing TIMEX watches were self made millionaires?
Self made millionaires. Our reservations office would have alerted us in the guest comments section of the check-in page. Who this person is, his/her wants and dislike etc. Sometimes, these guest are in a chatty mood and thats where my senior & i made some "innocent wild guess" if they "happened to be so-and-so or related to that company of the same name".
Yup, you never guessed that they are so down to earth. Low profile some say, but hey this is Singapore not Manila. It is always those born into money or at expense account that behaved so ya-ya. Much like those young brats with their iPad 4 and iPhone 6.
Anyway, last night, some of the snow creeped into my shoes. Toes where freezing, despite the wool socks. Coooollllddddddd. Need the Gotex/waterproof version of the new shoe soon.
Hi SnOOpy168,
I no worries. I always go for special price packages from ZUJI. Hahaha.. I am definitely peasant class. ;p
You need a new pair of shoes, my friend. :)
Had dropped Zuji a few years+ ago, when I found out that their airfares costed between S$80 - 150 more with no mileage. These days my flights are direct from the airlines website, with 50-100% mileage - another bonus in the making. BUT they are good to point to what is available during the travel period.
Hotel wise, I use Agoda & hotel.com. Or find a local friend / contact to make recommendations and no-deposit booking. The trade off may be not the cheapest price in the city, but the location is verified for me. Making life so much easier.
Hi SnOOpy168,
Really? I guess I don't travel enough for it to make much of a difference. ZUJI for me is convenient. After all, I am an affiliate and get back a certain % too. :)
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