Burberry has been able to do something that many brands have yet to achieve: It has transformed itself from being a company characterized by that stodgy trench coat your father only wore on weekends back in the '60s to a multifaceted brand, relevant for the digital age.
The overconsumption of ostentatious luxury goods fuels graft by forcing Chinese officials to keep up with the Zhangs. A cornerstone of combating official corruption is to make sure that civil servants receive adequate salaries that provide a secure, if plebeian, middle-class lifestyle.
Why do people buy high performance cars or vintage wine? Apparel is an investment that has a direct affect on you: It's on you. If you can afford to feel as comfortable as possible but still meet the requirements of your occasion, than that is luxury.
As a teenager, I walked around Bal Harbour, hoping I would grow up to be just like those ladies with all the shopping bags. The Bal Harbour I visited last weekend still possesses all it's fabulousness but with hotter, younger crowds.