It's nice to buy things that are durable, even if they're more expensive.
I bought a couple pairs of jeans about six months ago in China. They were cheap and looked perfectly fine, and were just as comfortable as any other jeans, but they just don't have underlying quality of materials, construction, and workmanship to last a long time. They're already both starting to fall apart.
Meanwhile, you might pick up designer jeans that cost 5x as much as inexpensive clothing, but they'll potentially last you 3-5 years.
While a lot of branding doesn't add value, the nice thing about brands is that they have a reputation to live up to that they've invested quite heavily in. When you buy no-name products from people you're unlikely to do a further transaction with who also don't have an underlying pride in their workmanship -- you're going to get stuff that falls apart fast.
When you look at the cost pro-rated over an item's lifetime, often the more expensive goods offer better value. It's useful to look for things that aren't too subject to fashion cycles and get a solid version that'll last you a half decade or more.