You're right, but to elaborate it's a government granted monopoly via trademark. Yes, you can get an identically made bag for far cheaper, but it can't (legally

You're right, but to elaborate it's a government granted monopoly via trademark. Yes, you can get an identically made bag for far cheaper, but it can't (legally at least) have the LV logo on it. Which is why so many luxury brands are essentially plastered in logos. The logo has no value beyond its ability to signal the wealth of its owner. So essentially rich people use an overpriced trademark for conspicuous consumption purposes. Natural diamonds are a scam because there is no way for them to be visibly distinguished from lab grown diamonds. There's no equivalent to a trademarked logo that distinguishes them from their cheaper competitors. Meaning, even if you think conspicuous consumption to display wealth is a worthwhile activity, diamonds don't even achieve that purpose anymore!