Famous Luxury Brands Launch High-End Padding and Vests for Pets
1.2 Million Won Bowl, 4.4 Million Won Carrier... Criticism of 'Vanity for Oneself'
[Asia Economy Reporter Hwang Sumi] Overseas luxury brands are launching high-priced padding and vests for pets one after another in preparation for the upcoming winter season. As the so-called petfam group, who open their wallets generously for their pets, increases, these brands are expanding their product lines targeting this market.
The term petfam is a combination of Pet and Family. It is used to refer to those who cherish their pets as family members. Petfam are characterized by their high interest in pet food and health, and their willingness to purchase related products without hesitation.
As the petfam group grows, the pet supplies market is also showing a growth trend. The U.S. economic media Business Insider evaluated, "The pet supplies industry is one of the few stable markets during the current economic crisis," and diagnosed, "With many people working from home, some are spending money on their dogs as if it were water, money that might have been used for commuting."
It further analyzed, "The more we treat pets as substitutes for humans, the more money we spend on premium snacks for them. Some savvy businesses have discovered the potential for profit."
Luxury brands seem to be paying attention to this situation. According to the British media Mirror on the 18th (local time), the Italian brand Moncler introduced a ?380 (about 607,000 KRW) padding and a ?455 (about 726,000 KRW) hooded jacket for the winter season. Harnesses (vest-type equipment that wraps around a pet’s armpits and back) were released at ?420 (about 676,000 KRW). In particular, pet carriers were priced as high as ?655 (about 1,046,000 KRW).
High-priced pet products are not limited to clothing. The French brand Balenciaga started pre-selling pet bowls priced at $890 (about 1,195,000 KRW) for the holiday season. Hermes, which unveils new products for pets every year, released a dog comb and a play disc this year priced at $115 (about 154,000 KRW) and $200 (about 269,000 KRW), respectively. Prada is selling a backpack-style carrier for $3,250 (about 4,365,000 KRW).
Gucci introduced pet products featuring Gucci’s signature designs through its pet collection last June. Pet clothing ranges from 300,000 to 1,300,000 KRW, harnesses from 600,000 to 700,000 KRW, and carriers are about 4,900,000 KRW.
Netizens had mixed opinions about luxury brands releasing high-priced products for pets one after another. According to Mirror, one netizen reacted incredulously, saying, "I don’t even have a Moncler for myself, so am I supposed to buy one for my dog first?" Another netizen pointed out, "It’s good to show affection to pets, but dressing them up can cause stress to the animals," and added, "We need to seriously consider whether purchasing these items is truly for the pets’ benefit or simply for one’s own desire to show off."
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