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LVMH
Acquired
Luxury is a necessity that begins where necessity ends
The act of upgrading a product from a Mazda to a Lexus SUV signifies a premium feature that comes with an increased cost; however, buying a Ferrari at a much higher price does not necessarily equate to better quality. Similarly, handbags offered by different brands might have identical functionalities, but the luxury value is what sets them apart. Luxury is defined as a necessity that starts where basic needs end, emphasizing self-gratification over social approval, although social signaling remains a fundamental aspect of luxury goods.
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