Lululemon, Nike, and Away all sell aspiration, hope, and a lifestyle, which get them to valuations higher than shoe, yoga pants, and luggage companies do. There are of course variations on design and differentiation in technology in each of those, but the value is in the brand.

To be fair, a lot of people wear shoes and yoga pants. Probably more people than have a smartphone for the former at least.

You do realize people do not run through their luggage like yoga pants or sneakers.

Most people use the same luggage for years, I use mine for atleast 10 years. Where is the logic in your reply?