What do you think about premium brands?

Premium brands are expensive such as Chanel, Prada and Audi, many people are looking forward to buying their products but when they see the prices they give up. For me, I won't buy them unless I have some special cases. I think the high prices of premium brands just because of their brands. When we buy their products 40%  money or more is used to pay for the brands not the products. So why don't we ues the 40% money buy a similar product.Some consumers don't like buying these that doesn't mean the premium brands are not necessary. On the contrary,they are effective in marketing because sometime the premium brands exactly have good quality reputation and they have good marketing in some consumers. These consumers usually buy them for working or a better lives. But if the products of premium brands are discount, buying it is a good choice. Just be careful don't be addictive in premium or you will spend much money on them. What do you think about this?