The complexity of value in the luxury industry

Purpose – In an attempt to satisfy the rising demand for luxury in the era of the “democratisation of luxury” or the “luxurification of society” without threatening the uniqueness and exclusivity of luxury brands, a profound understanding of the luxury concept and its deeper values is essential. As the complexity of luxury value and the assessment of effects on individual luxury value perception and related behavioral outcomes are still poorly understood and widely unexplored, the purpose of this paper is to fill this research gap. Design/methodology/approach – In the exploratory study context of examining the antecedents and outcomes of individual luxury value perception, PLS path modeling was used for the empirical tests of the hypotheses. Findings – The results support the assumption that the desire for luxury brands involves several dimensions of luxury value including financial, functional, individual and social consumer perceptions. Besides, the individual luxury value perception is significantly re...

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