Producing less, and making items less available, is a way to increase their value and justify high prices. But, as Diane Rovel, a fictional character at the top of the world’s biggest luxury conglomerate in La Maison TV show, said, “please don’t talk to me about de-growth.”

To avoid it, luxury companies have to maintain and grow their distinction as they scale.

Craftsmanship in luxury is a must-have, not a nice to have. It is the product truth, not a marketing activation. Luxury brands grew out of the exceptional product design, and the enduringly profitable luxury brands pursue product-led branding.

Aspirational markets are not a zero-sum game. Buyer value protects pricing power, as consumers are willing to pay premium for value they think they cannot get anywhere else.