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These are "almost Veblen goods" for middle-income people. Veblen good is a type of luxury good for which the demand increases as the price increases,

The price for a brand must be high to create value and quality does not affect demand significantly. It's only the appearance and brand image that sells.

The Swatch Group is the world’s largest watch company that owns over 10 brands. They sell mass produced brand where the value is almost 95% immaterial and non-functional (it's all in the mind of people). It's all about marketing.