For this article, primary research, qualitative interviews, cultural and competitive landscape analysis and desktop research were conducted to build an illuminated picture of today’s high-net-worth-individuals (HNWI). This research was complimented by many years of experience working with luxury brand clients between two New York based brand consultants, Kim Mackenzie and Sharon Panelo.
Eight qualitative interviews were conducted with a mixture of chief marketing officers, global marketing directors and commercial directors. The industries represented include fashion, jewellery, horology, duty free conglomerates, financial advisers, luxury publishers, travel and luxury auto brands. This article outlines the findings of this research.
According to Investopedia, HNWI is a classification used to denote an individual or a family with a high net worth of $1 million in liquid financial assets. Consulting firm Capgemini define HNWIs as those having investable assets of US$1m or more, excluding their primary residence, collectables, consumables and consumer durables.