Luxury is at least 5,000 years old. Jewelry, perfumes, furniture, clothing, accessories: as far back as prehistory, mankind has shown a real taste for luxury. One could imagine, however, that at that time people privileged utilitarian objects, fulfilling a vital function, like that of hunting. Yet, even in the oldest sites are found traces of objects simply manufactured "for pleasure", a refinement that was far from being essential. So many items which, in these times of survival, could therefore be considered "luxury". The Egyptians were already passionate about beauty, well-being and social distinction through the possession and use of rare products such as perfume or jewelry. Throughout time, Luxury has become a powerful tool for artistic …show more content…
This period was when the Arab Emirs invested the great French jewelers and couturiers. Later, in the early 1980s, a new era marked by young people's access to luxury, which was described as more accessible, was born. This is the era of the democratization of luxury. But it is really from the years 1984-1985 that luxury reached its most glorious peak. This period gave way to a new state of mind, lighter, more hedonistic where fashion is once again theatricalized and mediatized. Luxury boutiques are multiplying and crossing the continents. This explosive growth of luxury peaked in 2001, when worldwide sales of fashion accessories, leather goods, perfumes, horology and jewelry were three times higher than in 1985. This rush to luxury was nothing but a reflection of the new global prosperity. Americans and Japanese were then the primary consumers of this …show more content…
The number of billionaires was doubling ostensibly in these countries, which promised the yacht, real estate, art or hotel sectors a brighter future than expected. As said by Jean-Noël Kapferer: “The sector’s growth being directly correlated with GDP growth, its future presumably lies in China, vast reservoir of new potential customers. India, which has been waiting for years, still lingers to develop in this market, lack of infrastructure. Russia is in economic decline, which forces sacrifices on these consumptions that can be carried forward or reduced in costs. Africa now seems promising new markets. […] Lastely, Brazil too will offer without a doubt, but not in the immediate future, a vast market luxury sector” (Kapferer, J-N. (2015). How luxury brands can grow yet remain