Apparently there is a market out there for products that people want to reaffirm their status. Perhaps they feel insecure of who they are so they need to remind themselves, and others (of course), of their elevated status and worth.

One example of these status products is sold on the Co-op floor at Barney's at 66th and Mad. It's a line of very casual wear, sweats and t-shirts called Billionaire Boys Club. They have very ordinary looking t-shirts at $150, hooded sweats at $300. The prices compete with Hermès and Prada, but the look and quality compete with Nike.

http://www.billionaire-boys-club.co.uk/bbc.php