The pyramid of luxury consumption

The pyramid of luxury consumption
Finance

On the heels of Paris Fashion Week and the abundance of glitteratti strolling around in the balmy summer weather wearing ostentatious dresses (I saw one model that seemed to wearing a ball gown made of rubber tubes and hanging orbs), it seems appropriate to reflect on the stages of wearable luxury.

Here’s how I see the luxury pyramid in my mind’s eye. [Warning: anyone that knows me could attest to my utter lack of legitimacy in commenting on anything luxury- or fashion-related. I am so unqualified in this domain that I only decided to publish this upon encouragement of a friend. I welcome all improvements to ensure proper positioning of the brands within this pyramid. Please take this illustration at face-value: a simple framework to help a neophyte like me organize me thinking.] The pyramid structure struck me as appropriate, probably because I was recently thinking about Maslow’s hierarchy of needs. I would submit that entrepreneurs launching ventures in the fashion-tech space might consider how their endeavour would be positioned on this framework. (Special thanks to Junjie Peng for his graphical prowess!).

rudevc_luxury_pyramid

3 Responses

  1. Avatar
    Anonymous walker

    Put “the kooples “in the upmarket is wrong, just marketing with no quality “wanna be” preluxuray not more.
    Agnes B should be side-by-side Akris and Hermès on section “smart enough to be just myself with discretion”.
    I guess “esoteric” is synonymous of “absolut snob” ?

  2. Avatar
    frenchretailersDUSAUSOY

    It’s a absolut wrong way to present what is luxury. The key pillars of luxury still remain : history and heritage, craftmanship, offer lower vs demand, country soft power, family business (mainly) et of course no delocalisation. Your pyramid show a complete ignorance of what luxury means. Luxury is religion and timeless, fashion is copy, premium is based on product value (= the more you pay, the more you get).

  3. Avatar
    Elias Jabbe

    Interesting pyramid. And it’s amazing to see so many Asian countries there.

    Did you see ESSEC MBA Luxury Program Director Simon Nyeck’s guide to Luxury consumers and the thought process of shoppers? He revealed it in a Paris masterclass that was in French in January.

    https://twitter.com/Elias213/status/576753518100480000

    Here is my complete story on the masterclass that I penned after translating the content to English. It’s definitely got the famous “French Touch”: Foucalt is recommended by Professor Nyeck as a good source for marketing inspiration:

    bit.ly/ESSECBrandingMBASimonNyeck

    Have a good weekend.

    Eli

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