The Changing Definition of Luxury in 2021 / Vogue, Praachi Raniwala
The lexicon of the new luxury landscape expressed here uses such terms as “slow luxury”, “conscious over conspicuous” and “emotional intelligence”. Some of the ideas expressed here have been building over the past few years and are what we have been identifying as the Transformation Economy – the rise of Transformation (personal, communal, global) as a higher-level value for a luxury consumer who is seeking substance as status. Expressed skillfully, Ms. Raniwala’s article gives many examples of how the luxury industry is being reformed by a consumer base that is ready for brands that can offer radical authenticity and clearly defined values. “One thing is for certain: there’s no mindlessly rewinding to the old guard anymore. The way forward has been declared a more thoughtful one; particularly for the luxury industry.”
Read “The Changing Definition of Luxury in 2021” from Vogue here.