We’re seeing fashion go increasingly conceptual (Balenciaga is the master of this), which means status hinges not only on $ but also on “getting the joke” 

My essay LUXURY ACCELERATIONISM talks about this more in depth: 

https://open.substack.com/pub/terrraincognita/p/your-designer-bag-is-giving-you-away?r=2zm2aj&utm_medium=ios

Absolutely, staying ahead of the fashion curve means embracing the new era of conceptual luxury. Balenciaga is definitely setting the tone here. Excited to dive deeper into your essay on this topic!