Why is Chrome Hearts so expensive in the UK?
One of the world's most exclusive luxury fashion brands is Chrome Hearts. The brand is known for its handcrafted silver jewelry, fine garments, leather products and for being a favourite among celebrities for its luxury streetwear and accessories. Often, Chrome Hearts products are even more expensive in UK than in other countries; this confuses many consumers and makes them wonder why can't they be cheaper. It's a combination of artisanal, limited, import, brand, and demand factors.
Handmade Craftsmanship Increases the Price
The high quality of the craftsmanship of all Chrome Hearts products is one of the main factors contributing to the price of the product in the UK. Chrome Hearts is very conscious of handmade production, in contrast to many luxury fashion brands that mass produce items in factories. The jewelry pieces are mostly made with sterling silver and are painstakingly handmade by experienced American miners.
Making a ring, a necklace, a bracelet, a piece of clothing or any other type of jewelry requires effort and time. The company uses premium materials such as:
925 sterling silver
High-quality leather
Exotic fabrics
Precious stones
Custom hardware
All items are crafted carefully and the costs are naturally high. Of course, with a luxury handmade product, they don't come cheap and Chrome Hearts is no exception.
When the final import taxes and UK Duties are added on, the prices increase.
Import taxes and customs duties are another significant factor in the higher price of Chrome Hearts products in the UK. Most items sold at Chrome Hearts are made in the USA, and thus will need to be mailed to the UK. This process introduces a number of additional costs such as:
Import duty
Shipping expenses
Value Added Tax (VAT).
Currency exchange rates
Many luxury items are subject to 20% VAT in the UK adding to the price of retailing. Additionally, volatile exchange rates between the British pound and the US dollar can also affect the final price.
If the currency value fluctuates, luxury brands have the ability to tweak prices so as to maintain their profit margins. Consequently, UK customers typically end up paying more than customers in the USA.
The limited availability of the product makes it exclusive.
Not all places carry Chrom Hearts. The company's strategy is to strive to have a limited distribution in order to be exclusive. In the UK, there are very few official stockists and boutiques that carry Chrome Hearts products.
The scarcity of this product makes it more desirable. As supply decreases, demand increases and so does the price. There are a lot of people that are prepared to pay extra only because the items are hard to find.
A cornerstone of Chrome Hearts' business model is their commitment to exclusivity. The brand doesn't use conventional advertising methods. Rather, it stokes up hype via lack and by creating a celebrity culture. This gives products a sense of scarcity and suddenly becomes coveted.
Famous individuals can help boost customer interest.
Celebrities play a huge role in Chrome Hearts’ popularity. It is worn by a number of well-known musicians, athletes and actors such as:
Drake
Kanye West
Travis Scott
Bella Hadid
Chrome Hearts’ presence among celebrities instantly elevates the brand and its demand. The desire by fans to replicate the same high-end streetwear look further drives up resale and retail prices.
Along with that, the younger generations in the UK have also made Chrome Hearts more desirable – thanks to social media!
Chrome Hearts is positioned as a luxury lifestyle brand.
Chrome Hearts isn't just selling jewelry or clothes. The brand positions itself as a ‘whole luxury lifestyle experience. The store design, packaging, and customer service is intended to exude exclusivity and premiumness.
When a company brands its products as luxury products, the companies can ask a lot more price because customers are investing on more than the product. They are buying:
Status
Exclusivity
Fashion identity
Prestige
For many Chrome Hearts fans, the brand represents wealth and individuality. This emotional value is included in the overall price.
High Resale Value adds to the Hype
Many Chrome Hearts products can be resold at a high value. Some rare items even increase in price over time. In the UK resale market, limited edition items, collaborations with celebrities or vintage designs can be worth thousands of pounds.
Their value retention is known by buyers, who are willing to pay premium retail prices for them. This high re-sale value also contributes to the demand and maintains Chrome Hearts as a luxury investment brand.
Final Thoughts
The reasons why Chrome Hearts is an expensive item in the UK are a number of combined factors. The high cost of handmade craftsmanship, the use of the premium materials, import taxes, scarcity, celebrity endorsement and luxury branding all add to the price.
Some consumers may feel that they are overpriced, but many fashion lovers can vouch for the exclusivity and quality of the products. Chrome Hearts has managed to establish a super-luxury brand image that is strong enough to keep buyers from all over the world interested, particularly in fashion-conscious areas such as the UK.
Chrome Hearts is one of the hottest luxury brands on the market today for those who appreciate the one-of-a-kind artisanal work, uncommon designs, and top-tier street culture.
