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The Luxury Strategy, 2nd Edition by Vincent Bastien, Jean-Noël Kapferer

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02

The end of a confusion: premium is not luxury

Luxury is everywhere, or at least the word ‘luxury’ appears everywhere: luxury is in fashion, and the fashion is for luxury. Every product declares itself to be a luxury product, aspires to be a ‘true luxury’ for everyone... or for the chosen few. The word ‘luxury’ has become commonplace, and a commonplace word becomes progressively emptied of meaning. We no longer speak of ‘luxury’, but of ‘accessible luxury’, of ‘true luxury’, ‘new luxury’, etc. The systematic adjunction of the adjective is there to remind us that the word ‘luxury’ has become an imprecise one. How can a subject be correctly dealt with when such haziness hangs over the name?

As it is with many concepts, so it is with luxury: ...

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