New Rich

How do you measure luxury in 2017? Is it something expensive or exclusive? Or is it simply having the privilege of time to be able to enjoy an experience? Shweta Shiware attempts to find out

- Shweta Shiware

It’s obvious that the idea of luxury is mutating when designer David Abraham (of Abraham & Thakore) says that switching off at a spa in pyjamas is luxury; Sandeep Khosla identifies it with a satisfying meal, and Manish Malhotra, with time spent with mother Sudershan.

Not very long ago, luxury would mean a holiday on the Palace On Wheels at ` 45,000 a night, or Fendi’s B bag on your arm. But now, the definition has moved beyond exclusivity and iconic labels, and come to represent uniqueness, meaning and experience.

According to Kapferer and Bastien, authors of marketing and brand management tome The Luxury Strategy (Kogan, 2012), “The term luxury holds both personal and abstract experiences. One needs to distinguish luxury (an absolute concept), a luxury (a relative concept), my luxury (an intimate choice), luxury as a sector of business, and finally, luxury as a strategy or business model (…)” Though there are some heritage fashion houses that fit the luxury criteria, not all labels can call themselves luxury. One should look closely at the brand, study its history, craftsmanship and service culture to be able to clearly classify it as luxury, premium or high-street.