Consumer meaning making: the meaning of luxury brands in a democratised luxury world
Liselot Hudders, Mario Pandelaere and Patrick Vyncke
Ghent University
Introduction
Since the 1990s, the market for luxury brands has grown considerably (Nueno & Quelch 1998; Vickers & Renand 2003). Several factors encouraged this tremendous growth, such as the rising demand for luxury from emerging luxury markets (e.g. India and China) and the expansion of the luxury category (Silverstein & Fiske 2003). An increased spending capacity also encouraged the middle classes to spend more money on luxury brands. Consequently, the luxury market is no...