Dressed for the occasion, you face a group of equally polished people across the negotiating table. They grill you on your background, your career, your income and your prospects. Satisfied with your replies, they sit back and smile. You are in.
Is this a job interview? A visa application? Perhaps a matrimonial enquiry? Actually, it's "none of the above". This is a potential luxury homeowner being vetted before his purchase is approved.
For hundreds of years, something defined as "luxury" was something that was so well produced, so exclusive, and thus so expensive, that only the few - the elite - had access and the financial means to afford to buy it. Luxury was marketed to the rich as being a part of their social fabric, and to everyone else as being nothing more than an aspirational ideal.
Along the way, the democratization of "luxury" has lead to an erosion of what the word "luxury" truly represents in today's marketplace. As luxury brands diversify, what was perceived as luxury is no longer all that exclusive as it's now accessible to all.
Here's an interesting stat - As of last year, 40% of the Japanese population own at least one product made by Louis Vuitton.
40%!
Because of this, the Japanese account for over 40% of all luxury sales, more than Americans (17%) and Europeans (16%) combined.
So today's prospective of Luxury is Brands and logos .
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