At least to me, the value proposition is different. I do not buy much avant-garde, so most of my pieces look quite ordinary. The difference to say, H&M jacket, is the durability and materials. I do not think these are exclusive to just designer brands, so basically, designer clothing buys me quality assurance. In my perspective, I could spend the time to find brands which consistently produce good garments, or go to second-hand stores to look for bargains, but that takes too much time. That is, I'd buy a garment from Kering subsidiaries just because Farfetch says it's authentic. But, for me at least, I would be okay for all branding to be stripped away before the garment ships. This is pretty much for safety reasons while I am wearing the cloth.