With a growing demand for companies to produce products that meet high ESG standards, luxury goods companies need to find a way to present their products as something other than markers of wealth and social status, all while preserving these cachets. This article argues that they can best square this
The Definition Of ‘Luxury Branding’ Is Changing. In the past, luxury used to be all about pleasure, exclusivity and opulence. Now, modern consumers, like the millennial generation, have begun to see the traditional concept of ‘luxury’ in a negative light. Extravagance is overrated. Today’s shoppers think differently about the items,
In the future, machines will replace humans in jobs. This is not controversial: it’s what machines have done since well before the start of the industrial revolution. Petrol pump attendants were replaced by automated pumps, secretaries were replaced by Microsoft Office. This is what economists call the substitutive effect of automation: humans are substituted in jobs by machines.
The definition of a luxury brand changes depending on the type of brand you’re describing. In consumer goods, its Louis Vuitton and expensive couture fashion. Everything from handbags to handkerchiefs sports logos from Burberry, Christian Dior, and Chanel.