In some of my earlier posts, I have stated that there are two simultaneous paradoxical needs among us consumers with regard to consumption namely, (a) to conform and (b) to demonstrate uniqueness. In sociology and psychology this has led to creation of various terms such as fitting in or standing out, in-group vs. out-group behaviour,
When joining the ‘luxury society’ group, one of the interesting questions they asked was to provide your own definition of luxury. My response to that was “luxury is a state of mind. It is about how you carry yourself and fulfil yours as well as others desires”. My idea focused on the issue of luxury
Recently, I was re-reading the book ‘luxury brand management’ wherein the authors – Chevalier and Mazzalovo – suggest three criteria to classify a luxury item: (a) strong artistic content; (b) unique craftsmanship and (c) international reputation. While I agree that the artistic content and craftsmanship is what differentiates most luxury product and brands from non-luxury,
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Analysts world over have been writing about luxury consumption among the Chinese consumers. Few have also discussed the issues of Chinese luxury brands aimed at global consumers including ‘Shanghai Tang’ and ‘LaVie’. However, there is little discussion on how slowly but steadily Chinese entrepreneurs are acquiring or taking over Western luxury brands. This post is