Consumer meaning making: the meaning of luxury brands in a democratised luxury world

The nature of luxury is constantly changing and this makes it difficult to formulate a universal definition of luxury brands.

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...

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