Ever wonder what could make a shoe – a regular footwear cost more than a months house rent?
It’s not just you – a lot of people, and we too wonder more often than not about the surges in the prices of luxury shoes especially those from luxury brands like Balenciaga which in most cases is basically an ankle sock with hard soles.
The question of the high cost of Balenciaga shoes, however, is not so much about the quality but also the status those shoes uphold. Balenciaga, of course, makes high-quality fashion products.
Balenciaga has had a reputation since its early days of uncompromising quality and has been called the master of luxury fashion by Christian Dior.
Why are Balenciaga shoes so expensive?
Despite the quality of the raw materials, and the designers employed to make these shoes, the cost of production alone cannot justify the high cost of the finish products. This is not only peculiar to Balenciaga shoes. Most notable brands cannot tie the ridiculous prices of their finished products to the cost of production.
Which makes us to wonder why the high price if the cost of production is not so much as could justify the prices of the finished products? The answer lies in why people buy Balenciaga shoes despite their prices.
While a few people buy expensive Balenciaga shoes because of the quality of these shoes, which will make them last longer, a lot of people justify their expenses with the social status upgrades the brand provides.
Luxury fashion items have a certain social status to them that makes everyone want to get their hands on them.
Balenciaga like the ‘red bottom’ shoes American rapper Cardi B rapped about has a certain fashion icon symbol that gets them quickly noticed whenever they are worn “there’s something about them that when you see them in a picture, you instantly know what those are and what they cost. So, it’s like a status symbol” (Spencer Alben on the cost of Louboutin).
One way to justify the ridiculous prices of Balenciaga shoes is to see them for the ‘expensiveness’ they add to your overall appearance.
This is the same reason why most wearers never complain about the bold ‘Balenciaga’ written on almost the entire side of these shoes. It is not so much as the shoe, but the designer people are wearing that matters.
Aside from the social status these shoes impose, they are also worn by most people’s favorite celebrities and athletes. Famous American rapper, J Cole rocked a Balenciaga top and pants in his recent hit song middle child. The company’s name is branded right on the side of both the shirt and the pant.
This alone will justify why a huge fan of the star will end up splashing his hard-earned money on the brand instead spending the same amount on several other less expensive fashion items.
Balenciaga has several popular celebrities such as Kristen Stewart, Beyoncé Knowles, Katie Holmes etc. in its list working to promote their products. This is a marketing strategy utilized by almost every luxury brand today to attract the attention of their fans.
Another fact we may want to point out as to why Balenciaga shoes are so darn expensive is the target market. When it comes to producing a marketable product, a producer will either mass produce the items to target a wide audience while keeping the cost of production low by keeping the feature minimal or reducing the quality of the item.
On the other hand, a producer might decide to target just the elite of the society and improve the quality of their products to such an extent that the elites will form a taste for its quality and become willing to pay extra for the excellent work.
Balenciaga is one of those brands that target a narrow market audience and makes top quality shoes just for them.
So while the cost of Balenciaga shoes might sound ridiculous to some people, they are just right for those targeted by the brand.
Check out: What are red bottom shoes?