Luxury's First Ladies

I recently attended a panel discussion about luxury in the year 2012. Naturally, talk turned to brands and the need for increasingly unique products and experiences. One panelist dismissed the idea of luxury altogether, arguing that it had become too accessible. Another defined the future of luxury as one-of-a-kind experiences, like a group of hedge-fund managers who recently paid top dollar to be dropped into the middle of the Amazon. Uniqueness is something, along with quality, that luxury consumers desire universally—who doesn't covet that one-of-a-kind object, whether it be an Hermès handbag, a Breguet watch or even a multimillion-dollar Damien Hirst...

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