What makes a brand a luxury brand? Here’s my take on this…
And these three points (quality) are a fact, not an opinion.
The big differentiator then becomes; classic vs. modern. This is where opinion does begin to play a role. Clearly, we can all say that Chanel is a classic brand as well as Hermes, Louis Vuitton, Smythson. And here is where our preference then can shape our taste and style because within these brands you find products that are completely staid and also wildly modern.
Another important trait in luxury brands is they know who they are, but more importantly, they know who they are not. Luxury brands understand their roots, how they were built, and the importance of value. Luxury brands are never about price. They will not compromise their quality so people can afford them.
Luxury brands are no exclusionists, they know that if someone really wants their products, they are happy to share their knowledge of beauty and quality. These brands are aware that not only the rich and elite should have their products, but they also want people to be aspirational.
Unfortunately, today luxury brands have to survive in a world of fakes and knock-offs. They compete with people’s values of needing to have it for the sake of appearing wealthy, chic, in-style at a “cheap” price point. My father used to say: “You can never pass a rope off as a ribbon.”
Luxury is also authentic…