Redefining luxury: A review essay

According to Fiske and Silverstein the three kinds of “new luxury” share certain common traits, which set them apart from old luxury. Whereas old luxury goods were based on status, class and exclusivity, a new luxury philosophy inspires consumers to forge stronger emotional ties to the products and brands. Companies engage consumers and reap the be... See more

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