We try to answer the questions of " what is luxury? " Abstract ideas combined to form a definition of the term luxury. *taken from blog-lessons @ www.luxme.live

1. What is
Luxury
?
www.luxme.live

2. Note of Disclosure
The following presentation
is an extract from
www.luxme.live
blog lesson on
“Abstract of Luxury”
☺

3. Many Forms of Luxury…
Besides all that glitters
In Alice in Wonderland, Caterpillar asked Alice: "Who are you?"
The answer was: "I hardly know, sir. I've changed so many times
since this morning"
It is the same with luxury

4. Many Forms of Luxury…
Besides all that glitters
Water in Desert
TIME for things
you love
Couture
Exotic Food
Far away Travel
Education
AND SO SO SO MUCH MORE

5. Many Forms of Luxury…
Besides all that glitters
Simply Being You

6. Luxury is not just a price tag ... It is your 'Personality'
In the face of mass consumption and sameness of daily offerings, we are at risk of blending with the
crowds. Because luxury is not for mass consumption, it can serve as your identity, a break
away from the rest
Luxury, in essence, offers an escape from the plight of nessuno (being nobody)
Luxury today is about... being, for oneself and for others, not about having. The
key word is your dream, not someone else envy
Can U b U ?
Many Forms of Luxury…
Besides all that glitters

7. There are three general answers:
Luxury as an abstract idea - is a universal certainty, with inherent notion of scarcity. It
invokes an absence of indifference
Luxury as an object - is one that inspires the feeling of unique artistry, it is multisensory
Luxury as a brand - is an internationally recognizable dream that gives a promise of value in
future. Almost everything that we own today tends to depreciate with time; luxury on another hand
keeps its value and grows it with time
What SPECIES is luxury?

8. What GENDER is luxury?
We all have an unconscious norm – assigned gender
Luxury departs from this norm - gender role is not applicable to luxury
Gender is applicable only to the consumer who buys it, not the luxury itself
Why is this question important?
It is in human nature to assigns gender to everything we see and think. It is important for
marketers, who use gender stereotypes to strategically position the product in the minds
of the consumer. With luxury, this position can change depending on the marketer's intended
customer target. LV 'bag' is usually associated with a lady's purse, but can also be associate with a
man's business trip, or a golf club. So, Louis Vuitton has no gender

9. What’s the CHARACTER like?
The Mad Hatter: "I'm investigating things that begin with the letter M"
So what are luxury's manners like?
Luxury is like a person that you date and, with time and enough commitment, get
married to. Judging by the time spent on selection, $ investment and emotional commitment,
it is not a one night stand
It is very cultured (it is born in a specific place and time), thus able to connect with its owners
on a human level by referencing its birthplace
It certainly has manners, as it does not push itself on people in a begging way of purchase. It is
quite a dominatrix, influencing (via multitude of senses - sight, hearing, touch, smell) on
an emotional level

10. WHERE does it live?
“If you don't know where you are going, any road can take you there” - Alice in
Wonderland
Luxury items are not products that fill the gap - they create markets, shape, define
them. They are not 'born' to solve a problem (they are not band aids). But they are born in a specific
birthplace
Luxury always has an origin and a story that goes back to the beginning. A luxury
object's story is rooted in its city and culture (the physical place where it was experienced firsthand).
It is produced in a place that is consistent with its world. Relocation of
production would mean dislocation of the story and inspirations behind

11. WHEN does it live?
“Alice: How long is forever? White Rabbit: Sometimes, just one second”
The icon is born in a second, but lasts forever
Luxury loves time and takes time; rejects and embraces it. Some brands draw heritage from its
past (Chanel), others from its future (Apple). It is after all a very much peacetime industry, when
it is given time to flourish & enrich, educate & dominate
Burberry, a luxury British brand established in 1856, is known for its iconic Burberry Prorsum
trench coat. Interestingly, the word “Prorsum” means “forward"
Prada is set apart from the rest of the luxury brands because it never follows the ‘one point in a
time’ format. The brand stays relevant by the process of patronage of art, in which it lives. And art is
timeless

12. Can you Price it?
Price is quite relative
Luxury has a monetary price (quite high) & a 'time sacrificed' price:
Price works as restriction of mass existence, not definition of luxury
In regards to money, real luxury has no 'premium halo' - a price-to-quality ratio
In regards to time, to "understand" the brand, customer spends time interacting with it (even
admiration takes time)
As a BRAND, luxury can take on an official monetary value. HOW? See presentation on Valuation
https://www.slideshare.net/JuliaOrsa/brand-valuation-methodology

13. SO, If you are a Jewelry brand…
are you luxury?
you begin at the beginning and ask yourself “what is fine jewelry?”
Dean Millard, the editor of the Jeweler Magazine conducted a debate among industry participants
on the definition. While he found that it was nearly impossible to clearly define the term, there were
5 key ideas put forward:
1) “something that is mass produced cannot be classified as ‘fine jewelry” – need for
exclusivity
2) “must be made from fine materials and gems of fine quality and make and
assembled with fine skills” – artistry, scarcity and a unique production process
3) price may or may not be a “factor of the definition” – price is not a standard of
measure
4) “something made to endure over a long period of time” in terms of desire and material –
time relationship
5) the luxury customers would “ultimately decide for each brand” –
universal agreement on the brands standing as luxury

14. NO MASS
PRODUCTION
TIME
OR
TIMELESS
FINE MATERIAL
SKILLS
Abstracts of luxury
AMONG MANY,
ONE OF THE KIND
PRICE
IS NOT
A FACTOR
BIRTHPALCE
HERITAGE
CUSTOMER DECIDES

15. One side of luxury is art,
the other is business.
The blend of two
is when the brand
is born
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