Ben Gilbert: belief

Transcript context

…Totally. If you buy a Birkin bag, there's a very good chance that that is going to be a good investment. Whereas if you buy a purse from Target, that is going to depreciate 90% the minute you walk out of the store. It's so interesting because it is both about the durability of the materials. That's a story that is often sold to justify the price of luxury goods, but actually, that makes it a premium product. That is about the utility. That's about justifying why it's actually a good value to be paying more. What the durability really refers to is the durability of its status that it's Lindy. It has been worth something for a long time, so it will be worth something for a long time. I think that that is the most important thing for luxury brands, which is why when you look at all this stuff that Bernard Arnault has gone out and bought, they're anywhere from the 1300s to the 1800s with some stuff recently, but it's all about selling that this stuff, this brand, this way you're choosing to identify yourself, is part of something much bigger and longer than you, and will stay valuable for a long time in the future. Totally.…

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