LVMH
Acquired
The Nuance of Luxury
Luxury brands are different from premium brands because they go beyond functional benefits. Luxury signifies the buyer's ability to transcend needs and objective value. It represents creative power, heritage, and social distinction. Premium brands offer more utility for a higher price, while luxury brands offer no additional value but serve as a symbol of wealth and taste. Examples like BMW and Lexus being premium brands and Ferrari being a luxury brand illustrate this distinction. Choosing a luxury brand implies a desire to showcase wealth and taste, while premium brands offer better functionality for a higher price.
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