and this is where it becomes subjective.
Even the market term is a bit subjective.
There are Luxury Brands that are MORE affordable than others, yet, they are still considered Luxury Brands.
What I find affordable, somebody else may find ostentatiously expensive.
and vis versa. what I may find expensive, somebody else may find affordable.
This is even true of people in the same income level. That is where it becomes very subjective.
There are a LOT of $500 Kors and even $800
Coach bags, I would certainly NOT count them as being even CLOSE to luxury brands though. heck, they can stick a $2,500 Price tag on a Coach bag, and I will still never consider any Coach a Luxury bag.
So, Price still is not going to make Coach a luxury bag maker.
They could make a few one of a kind bags, handmade, and I will still NEVER
consider Coach as a Luxury brand… on a side note, some people will, again, that is subjective…
I don't see these as Luxury brands as they don't have the HISTORY or Origins along with the craftsmanship to be considered Luxury brand.
Or, look at men's shoe companies in Britain.
In England 2 very old shoe makers Tricker's and John Lobb. Though, BOTH are considered very high end Luxury, one is priced in the $500- $1000 Price range.
and the other is priced in the $1,500 and UP Price Range.
Both are Luxury brands. Yet, their Price Points are vastly different.
They are even considered equals in the market.
That is what I meant when I said, that price does not necessarily mean Luxury.
as for The Luxury Market.
Sotheby's has a good article on what Luxury means.
http://www.sothebys.com/en/news-vid.../2014/04/understanding-the-luxury-market.html
Luxury does not necessarily mean “old.”
The market is inundated with brands that fight for your attention, curiosity and ultimately your wallet.
In the last seven years, we have observed the rhetoric of brand messages to center on “authenticity” and “heritage,” both rightfully associated with luxury products and both blown out of proportion after the crisis of 2007-2008.
The post-crisis luxury clientele rationalized excessive purchases by seeking out brands that have indeed been authentic and have distinct heritage and, as a consequence, long traditions in craftsmanship and commitment to innovation.
http://www.sothebys.com/en/news-vid.../2014/04/understanding-the-luxury-market.html
The luxury market does not favor the rich but rather the smart shopper.
With an unlimited supply of funds to spend on luxury objects and accessories, one can always make good choices. Unfortunately, the opposite is also true.
Luxury does not necessarily mean expensive. Pricing luxury products is a very complicated process that takes into account costs similar to those other businesses are assuming. Additionally, it takes into account a highly intensive production process that is usually greatly specialized, rare (in terms of raw materials, specialized labor,
proper facilities in specific locations, and intellectual property), and very much dependent on artistic output.
If one buys the most expensive object the store has to offer without questioning why this is the most expensive one, one risks buying into “hype.”