#60 The Luxury Business: Part I

Their analysis depicts three distinct types of new luxury goods: accessible superpremium, old luxury brand extensions and mass prestige or mass-tige. Accessible superpremium designates products that are considered at or near the top of their categories in terms of quality, and are sold at a considerable premium. Despite the comparatively high price... See more

This is what I call the luxury trap. It’s a fatal mistake many brands make. Defining a luxury brand by its functional aspects and high prices cannot replace the value a brand creates.