Luxury is at the same time deeply immoral and moral. The rise of social inequalities and income gap between hyper-rich, rich and poor combined with ethical issues and an atmosphere of economic and geopolitical uncertainty are a serious mix of challenges for luxury brands. They must reinvent themselves in response to these trends.
Luxury is about being able –or being enough clever, to adapt to changes, the global environment e.g. sustainable luxury, mix and match era versus total look, big logos and star system.
Luxury is about genius creativity. Most of all, it is having the time and freedom to be creative in a fast-moving world.
Luxury must create values, advocate beliefs, authenticity, meaningful design and engage emotions versus superficiality and artifice. It is about treating people in a human way. It is about having a soul and a heart (LOVE e.g. YSL). Be the “kind of queen and king who knows your crown isn’t on your head but in your soul”.
Traditional big brands are losing the monopole. New comers are changing, disrupting luxury codes (e.g. Comme Les Garçons). Luxury is no more a question of heritage or history, but of innovation and creating legends and myths.
Luxury should be collaborative, social, meaningful. It should be about doing, about giving and not having.
Luxury is not about possessing but much more about discovering, learning, experiencing and sharing. It is to be able to experience the world around us and maintain a luxury lifestyle. It is to go beyond possession.
Luxury must be helpful (service oriented, customer-centric), indulgent, provide pleasure, satisfaction and comfort.
Luxury should be a strong element of differentiation. Luxury is about listening to the environment and crafting a holistic, differentiated scenarios. It should provide personalized and customized experiences that deliver long-term value.
Luxury shouldn’t be only about business, making money and volume but about controlled growth, craftsmanship, quality products and tailored experiences.
Luxury shouldn’t be about pleasing everybody but concentrate on the very few, focusing on those who are sharing the same values, creating an exclusive community.
Luxury shouldn’t be about queuing for the sake of quality –which is the basic, losing time waiting for something, most of all in our multi-connected world. Time is money, no? Luxury must be about speed (e.g. digital era) and have what is hard to get.
Luxury is not a necessity for me. Breath and eat is. Oh, and it should be about perfection and detail.
Luxury is personal. It can be anything and nothing, tangible and intangible. It can be simple things. It can cost nothing.
Luxury must be rare and worth it, like enjoying the uncommon. It must stay a beautiful dream. It should bring an unexpected little extra soul.
Luxury is the opposite of trend. It’s not about Fashion. It is timeless and eternal.
Fashions fade, style is eternal – Monsieur Yves Saint Laurent
Luxury doesn’t bring happiness. It plays on desires and pleasure. It markets and sales a world of necessity and serenity. It is comforting to see that we can buy dreams and pleasure. That’s it. But happy?
Hummmm… I know that luxury can be a divisive word. So, feel free to share with me your personal interpretation and idea of luxury.
In your opinion, what makes a brand, a product or an experience, luxury?
Meanwhile, “keep your heels, head and standard high” (Coco Chanel) without being clouded by luxury.