Luxury's Asian revolution: How brands are adapting to the new luxury consumer
Low Lai Chow
Is there something wrong with the term 'luxury'? Banyan Tree Holdings' founder and executive chairman Ho Kwon Ping seems to think so.
"It's not a value proposition. 'Luxury' is a very critical word… it is pure exclusivity."
In short, he would prefer his (for want of a better word) luxury 5-star hotel, resort and spa brand to be known as an "aspirational brand" and "an enabler of experiences", with universal values that resonate on a human level.
"If we were to talk about...