Substitute for...the Christian Louboutin Lastic Boot

The other day I got to thinking: What blog about fashion and economics worth its salt would not have a Cheap Chic series of posts? Hence the first in a series of posts in which I will post about relatively inexpensive substitutes for hot ticket items.

First up: a substitute for the Lastic boot. The Christian Louboutin Lastic boot appeared in a number of Fall 2006 shows, and before Steve Madden introduced the ($179) Steven by Steve Madden "NVADE" ankle boot, there was no acceptable substitute (IMHO) for the Lastic boot on the market. I was considering purchasing the CL Lastic boot, and while I am currently on the waiting list for a pair, the $645 price tag would mean foregoing a pair of Lanvin flats or a pair of black patent leather Chloe platform slingbacks I have been eyeing. Also, if you consider the purchase of a pair of Lastic boots in economic terms, for an additional $466 you are getting better quality shoes (they'll last longer than the Steven's--trust me, shoes in the $200 range wear out quickly) and the red sole (for those of you who don't know, red sole = Christian Louboutin). I am a student and do not have the sort of budget to be paying $466 for better quality and red soles while still obtaining my optimal product bundle (perhaps a post on the budget constraint is in order?), so I will probably be opting for the substitute in this case.

LEFT: Steven by Steve Madden "NVADE" ankle boot, $179. Pre-order them here.

RIGHT: Christian Louboutin Lastic boot, $645.

Ankle boots are a big trend for Fall 2006, and the Lastic boot is my pick for ankle boots for the season. If you'd like to pictures of the Lastic boot on the Fall runways, or if you're wondering how to wear them, click here to see an earlier post devoted to the Lastic boot.

Also, I'm in the process of writing a post about knockoffs--so if this post rubs you the wrong way, sit tight!

Comments

[beth]

I'm a grad student very much devoted to fashion and I love your blog. I'll be interested to see your post about knockoffs. Personally, I *have* to compromise on some items-- otherwise I'd be even more in debt than I am right now!

I don't compromise on bags-- I get original bags, though I generally get them at sample sales. And I try to find shoes that are not obvious copies of designer shoes (but rather beautiful in their own right). I must say, though, this bootie is an exception-- it's gorgeous!

[Elsa]

Ooh beth I'm so excited to have an academic on the blog.

And I definitely agree with you on buying originals. You derive so much more utility from high quality, original items because they don't look like every other shoe or bag on the market, and as a consequence, the novelty lasts much longer. Take summer sandals, for instance. I would never buy the brown leather Chloe platform sandals--but I would invest in a unique and beautiful shoe by a lesser known producer. But as economists, (are you studying economics?) we should realize that it takes a lot more time and effort to find great, original goods than to follow the herd. Oh, well! It's a price I'm willing to pay!

[maria]

Awesome blog!
I think luxury items are high quality, but the value is most about perception than the actual difference with other non luxury items. The perception is what makes people "believe" blindly about the "higher" quality. No body working in the luxury industry will say that their products are of the same quality than less expensive products. It is a mater of political elements of power (luxury has intrinsic elitist perceptual elements). It is like diamonds...you can say they are pretty and the strongest rock ever...but they are still rocks: rocks that make people that owe them believe that they are powerful just because they can afford them.

What it is the most interesting thing about the devotion for luxury items is that people do understand their identity in terms of the goods...so to accept the lack of importance or the real superiority of luxury items is to dilute an idea ... to destroy a fantasy that people like to owe and foremost an object to display as way to set one self away in a specific category.
Luxury items are modern IDOLS.

[bryangoh]

I am confused. I started out just loving great design and craftsmanship be damned. This meant Prada, Dolce and Gabbana, Hedi Slimane, pretty much the big names in fashion. I didn't really care about the quality. I couldn't tell if you asked me if it was good quality or not.

Having been through all that, I began to wonder, and look and learn and before long I had abandoned the lot for John Kent, Anderson & Shepherd, Aubercy, Edward Green... It was definitely quality.

I'm now back with fashion again, purely luxuriating in the pretty and craftsmanship be damned.

I never wore out the Edward Green shoes I bought, and sometimes it annoys me that they don't wear out quickly enough so I can buy something else.

So why do we pay the premia that we do? Its not quality. Prada shoes are at best Blake stitched, at worst gummed together. Some Prada suits are still fused instead of having their canvases stitched in. We pay for the look, the feel, the brand, the perception.

Can a knock off do it? No. If I was a designer I would have no fear of knock offs. Why? There is no substitution effect. The person who buys a knock off will more often than not buy the real thing the moment they are able to afford it. The knock off is a stop gap solution.

If I ever bought a knock off, it would be something frivolous. Anything vaguely practical would have to be the real thing.

But then, it is the frivolous that requires the most detail in construction, and hence requires the original.

Thus, we always need the real thing. Knock offs are not substitutes in any real sense.

The only damage that knock offs do is that they damage exclusivity of the brand and image by their ubiquity.

Adidas (hardly luxe but hey) became victim to its own success when it cornered the sneaker market in the 70s. It wasn't that it wasn't exclusive. It never was, not by price at least. By becoming common to the extent of ubiquity, Adidas lost its cachet.

If I was a designer, this is the only thing I would worry about. Never mind knock offs or originals. Am I too visible? Have I lost my mojo?

[Elsa]

Hey guys! Thanks so much for the comments.

Maria -

Thanks, and ditto (I'm looking at your blog right now).

As for explaining why people like diamonds and luxury goods...an economist would definitely say that one reason people value them highly because they are scarce. It's the diamond-water paradox. Even though water is necessary for life, it is priced relatively low, while diamonds, which are not necessary for life, are priced high. Why is this the case? Diamonds are rare, and water is abundant.

Do you personally believe that luxury is but an illusion? While I think some people allow luxury goods to influence their perceptions of themselves far too much, and place value on luxury items for the wrong reasons, I don't think everyone does. And I do believe that luxury exists. I like to think of luxury as Coco Chanel and Olivier Theyskens do--as the opposite of vulgarity. Of course, not everything that people believe constitutes luxury does; not everything that companies would have you believe is luxury is. For me, a luxurious good is not necessarily an item that others will recognize as expensive.

Something I find fascinating is how many individuals' tastes in fashion remain extremely variable holding price range constant. It's incredible to me the variation in tastes at the high end of fashion--from your typical Chanel girl to the free-spirited Ann Valerie Hash devotee to eccentric Yohji fans or va-va-voom Cavalli women.

Bryan -

Interesting comments.

You've definitely stated your preferences/tastes as an individual consumer!

I personally cannot only evaluate a product on innovativeness OR craftsmanship. I always judge products on both, and am only satisfied (in other words, I'll only buy) when a product is up to my standards in both areas. I might sacrifice craftsmanship in something I'll only wear on occasion if the fact that the item is made poorly is not visibly apparent. Is that what you do?

When it comes down to quality vs. frivolousness: First, what do you mean by frivolous? If you are using frivolous to mean complex, than I would have to disagree with your statement that the frivolous requires the most "detail in construction." Sometimes I think it would be harder to create that perfect practical, basic item: a suit or a black pump, for example. For instance, the Louboutin Decollete is so perfectly executed and well constructed (those heels are much sturdier than lower priced alternatives)that there are no acceptable lower-priced substitutes (for the truly discerning) and therefore the original is absolutely of greater value than a knockoff. Did you see my post on perfect basics? I'd be interested to hear what you thought.

I have to disagree when you say there is no substitution. A lot of these items getting knocked-off are items which people aren't always willing to wait to buy until they can afford them (by that time, the item could be out of style, or have already lost its cachet).

I absolutely agree that knockoffs can never take the place of originals in the fashion industry! That was not my argument. I am arguing above that knockoffs serve as "substitutes" (i.e. "substitute goods") in economic terms, for certain consumers. And designers do have to worry about this with customers who are able to afford their products but may substitute if an acceptable substitute is available so they have more money to spend on other products they would also like to buy (though this group may not be very big).

I wonder if by being too visible adidas did not lose cachet or prestige but rather its novelty. Any fashion marketing experts out there who can help us? :)

Did you read "Why Designers Hate Knockoffs"?

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im 16. i need new boots and im shopping at outlet places. they have uggs for around $80, i know they are out of style but they are so comfy, should i get them, if not what kind of boots should i get that are fashionable and comfy? also what type of shoes should i get im thinking pumas or diesels which do you prefer (or something else)? thankyou!

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Not cheap boots for $645 I can buy D&G or something else.

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I think luxury items are high quality, but the value is most about perception than the actual difference with other non luxury items. The perception is what makes people "believe" blindly about the "higher" quality. No body working in the luxury industry will say that their products are of the same quality than less expensive products. It is a mater of political elements of power (luxury has intrinsic elitist perceptual elements). It is like diamonds...you can say they are pretty and the strongest rock ever...but they are still rocks: rocks that make people that owe them believe that they are powerful just because they can afford them.

What it is the most interesting thing about the devotion for luxury items is that people do understand their identity in terms of the goods...so to accept the lack of importance or the real superiority of luxury items is to dilute an idea ... to destroy a fantasy that people like to owe and foremost an object to display as way to set one self away in a specific category.
Luxury items are modern IDOLS.

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