Gucci, Fendi, Hermes, what is the true meaning of luxury?
Asil Hussain Attar
Global Fashion | Brand | Retail | Business | Forbes Top 50 CEO's GCC | Forbes Top 100 Arab Woman | Strategy | Transformation | Brand Development | International Business Development | Retail Innovation | Board Member
There have been many articles written about luxury and its ever changing definition, yet I feel compelled to write a new one, why? because the pace in which this subject is moving is an ongoing story to tell. I remember a time not so long ago when the thought of owning anything from Louis Vuitton or Gucci was so farfetched and it was still a romantic notion to own a piece of history as an investment knowing that the piece was as unique as the heritage it came from. There are words that are often linked to luxury; exclusive, unique, heritage, handmade, individuality and so on and so forth; in the past this represented and defined the experience, is that true today?
Today it is a world where there is so much fierce competition, where everything is available to almost everyone. At one time luxury brands were only ever seen as a standalone experience in the most prestigious destinations, they can now be seen in 1000’s of locations all over the world dominating the streets and malls. How luxurious is a product when you are producing millions of items to stock in 1000’s of stores? Is it still handmade, bespoke, unique, artisan and all the fancy words that we mentioned? I doubt it, I know for sure the experience isn’t the same as it used to be and neither is the intent which the brand was originally built on.
When we look at today’s true definition of luxury, for example the luxury of time is invaluable, the knowledge that you can disappear for an hour and not pander to your smart phones constant demands is luxury; to walk freely in a street where there are less than 10,000 people is a luxury; to not queue for an hour for anything is a luxury and to buy a product that is limited, truly unique and has a sense of individuality and self-expression is luxury. It may not necessarily be high in value but the value it represents is exceptional and we can relate to it on an emotional level. Our perception is changing…ironically we are going back to the true definition of what luxury should be and was.
Perhaps luxury brands should take a minute to address their original values and reason for being, were they started and developed by commercial conglomerates whose board of directors is responsible to produce more returns for their shareholders? Or were they individuals and family visionaries who wanted to develop bespoke, quality products that reflected the craftsmanship and heritage for which they stood. What was once exclusive (high end brands) is now available and what was once available (time and space) is now exclusive, so what is the true definition of luxury? Owning a brand and product that thousands of people own which really has little value or having that really special something that perhaps is only every seen by few? I know which one I would prefer.
Creative Director/ Designer, Stylist and Consultant on her start-up Fashion Private Equity Fund
10yThank you for your great article Asil. For me, I believe that in a world where mediocrity rules, luxury embodies a holistic concept from a unique and extraordinary point of view. Luxury should promote an unparalleled identity and exceptional quality in design and execution, provide pleasure, beauty and an undefinable element of elusiveness. As for the intangibles, time and space are indeed a luxury. I would add simplicity, freedom and integrity amongst other immaterial things.
Wholesale Business Developer | Relationship marketing | Sourcing | Acquisition | LUX&Prem. RTW-SLG-ACC-Watches-Jewelry-Shoes
10yMaybe let us say luxury is something you can do for yourself and for others, which serves the welfare and joy, no matter if it is a object or activities we make. If you buy something and think it is the ultimate luxury, you can be sure you'll find someone who will take you on to earth again. If you buy something and have joy with it, you got no one to put done the Price you pay for. The same goes for the time you spend and decisions which you can make freely. Beautiful memories is the most immense value. A Luxury for all People.
CEO & Executive Vice President | Business Setup/Restructuring |Leadership I Process Improvement | Contract Negotiation/Execution | Sales & Marketing Collaboration | Project/Program Governance | Training & Development
10yI agreed with You. We noticed a " massification" of the product, The " smelth" of excludivity, unique, particular disappeared. This massification influenzerà a lot tha sale. But unfortunately when I'm trying to explain this problem to the famous brands, seems to me that they are not listening, they still continue to live, in another world, and continuing to press on the budget buying Regards Riccardo
Wholesale Business Developer | Relationship marketing | Sourcing | Acquisition | LUX&Prem. RTW-SLG-ACC-Watches-Jewelry-Shoes
10yLuxury is defined ultimately by the price. The Brands are and remain large producers. The bill would not work, when these brands would not sell in masses. The value is often more in the image of the brands. The balance between image and individual craftsmanship has to be right .. You must be able to differentiate. Here stands image towards craftsmanship, which also includes know-how and innovation. I buy a T-shirt for € 22,000 so I pay "necessarily" for the name.If I customize shoes, for my individual foot and for my needs, I allowed one item and in my eyes luxury. In the end, everyone decides its scale of luxury itself. The greatest luxury of our time is probably to be able to make own decisions.