1Clearing up the misunderstanding of “luxury”
“Luxuries are human beings’ aspiration for and pursuit of beautiful things, and they are a crystallization of human wisdom.”
– Pierre Xiao LU
In 2008, I pointed out problems with the definitions of luxury brand management and luxury goods: inaccurate definitions led to misunderstanding. When translated into Chinese, “luxury” should correspond to “精品” pronounced as “jingpin” (something refined and premium) but not “奢侈” pronounced as “shechi” (something extravagant or wasted). Now, I would like to stress some particular points.
International luxury brand strategy is an emerging management science. It is quite different from people’s misunderstanding of luxury and media ...
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