Defining Luxury In The Modern Age

What makes an experience, a product, or a service luxury? Luxury is more than a label, it's a combination of what a brand delivers and what it represents. While the word luxury sometimes loses its meaning through overuse, true luxury is a level above what is expected. Some of the brands we most respect as a company deliver on this promise every day. 

Luxury is a moving target. Some of friends in the real estate press have talked of an amenities race in luxury developments and we've certainly seen this in projects like Waiea that take the expected amenities of pools and fitness areas and then add on a theater and performance space, dog park, quiet lounges and more. 

Venerable brands such as Ritz-Carlton know they have to do more today than they did yesterday. That's why the company has taken the step of having an innovation database that gathers up ideas from their properties all around the world. Together employees contribute to this living and breathing experience of luxury that continues to surprise and delight their guests. 

Recently in an article for Luxury Daily, Pam Danziger compared two brands, one esteemed and legendary, Montblanc, one current and trendy, Shinola. Both brands deliver on a specific set of values and while each may appeal to a different personality, each balances both a sense of timeless tradition, history, and craftsmanship with a sense of sophistication and creativity that feels fresh, personal, and individual. 

This week Inman brings its Luxury Connect event to Beverly Hills. The conversation centers around real estate but also around what the true nature of luxury is. Our clients who are speaking at the event including Ben Bacal of Roofshoot, Paul Boomsma of Luxury Portfolio, and Chad Roffers of Concierge Auctions are more than just people involved in luxury real estate, they are students of luxury as a whole. Each has spent time learning not just the demographics of their audiences but the true psychographics of the motivations and aspirations of the luxury buyer. Join us this week for plenty of stimulating conversation, and yes, a fabulous party or two.