Luxury is often thought of as “the best of the best” -- the rarest, most expensive, and most desirable objects. But luxury is a social construction that is constantly being redefined. Mirrors, indoor plumbing, television, cashmere sweaters, and cell phones were once considered luxuries. In parts of the world, even today, clean drinking water remains a luxury. As living standards rise, more and more people around the globe desire and expect to obtain luxuries -- objects and experiences that are nonessential, yet pleasurable and rich in meaning.

Suzy Menkes has defined luxury in terms of “three key elements: artistry, craftsmanship, and sensory pleasure.” She suggests that “modern luxury is not only about objects. Increasingly it is about experiences – about an aura of excellence surrounding the customer.” People want to feel a sense of identification with the brand’s “story.” They are also increasingly combining high-end customized fashion with accessible luxury. This high/low concept is epitomized by collaborations between mass chains like H&M and famous fashion designers. Today’s luxury has many faces – from material to experiential luxury, and from super-luxury to stealth luxury and secret pleasures.



Selected Bibliography:

Teri Agins, “The Future of Luxury,” The Wall Street Journal (January 4, 2007)
Pam Danziger, Let Them Eat Cake: Marketing Luxury to the Masses -- as Well as the Classes
Gilles Lipovetsky, Elyette Roux, Le Luxe eternal: De l’âge du sacré au temps des marques
Michael J. Silverstein, Neil Fiske, John Butman, Trading Up: The New American Luxury
Valerie Seckler, “Luxe Study: Rating the Brands by Status,” WWD (June 12, 2006)
Werner Sombart, Luxury and Capitalism
James B. Twitchell, Living It Up: Our Love Affair with Luxury
Thorstein Veblen, The Theory of the Leisure Class


 

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