There’s also a complementary strategy followed by many larger luxury brands, where the clothes are the halo product, but they make most of their profit selling

There’s also a complementary strategy followed by many larger luxury brands, where the clothes are the halo product, but they make most of their profit selling accessories (sunglasses, perfume, etc.) that are affordable to many more customers (including those outside of LA!). The latter are often produced by other companies under a license.