Luxury From Luxus To Masstige

Luxury: From luxus to masstige 2013
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U1318461

MKM234: Coursework Component 1 Front Sheet

Student Number: u1318461

Component Comments Weight Actual
Mark
Depth of Research and Evidence of Wide
Reading
20%
Consulting with Quality Academic
Literature and Evidence of Critical
Engagement
30%
Well Structured with a Clear Narrative
and Flow
20%
Identification of Clear Research Gaps and
the Formulation of Valid Future Research
Questions
20%
Organisation, Presentation and
References
10%
Total

100%

General Comments: Agreed Mark:

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LUXURY: FROM LUXUS TO MASSTIGE

STUDENT NUMBER: U1318461
MKM 234
MSC LUXURY BRAND MANAGEMENT
ASSESSMENT 1 LITERATURE REVIEW
DATE OF SUBMISSION: 12/12/13
WORD COUNT: 3273

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Abstract
Luxury in its voyage of centuries have changed its course several times, success
of luxury has been its continuous evolution. The face of luxury today is
different than what it was in the ancient times. This literature review will shed
light to the genesis of the word luxury, how luxury became the vital organ of all
civilizations. Exclusivity has always been the corner stone of luxury. The only
common string between the temples of Roman Empire, Colonial era courts,
Tsars Faberge and Charles Fredrick Worths haute couture was exclusivity.
Luxury brands have been forced to balance between the exclusivity and
accessibility, Masstige as it is called to be mass and prestigious at the same
time. The thin line to be mass for the masses and prestigious for the riches at
the same time is the reason why luxury brands have not only sustained but
even seen the heights which were not imagined few decades ago. The theory of
masstige has been critically investigated and future research areas and gaps in
the available literature have been identified.


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Contents
1. Introduction .......................................................................................................................................... 5
2. Meaning of luxury ................................................................................................................................. 6
3. History of luxury .................................................................................................................................... 6
4. Characteristics of luxury ........................................................................................................................ 8
5. Exclusivity .............................................................................................................................................. 8
6. Masstige ................................................................................................................................................ 9
6.1 Introducing masstige: The new order ................................................................................................. 9
6.2 Pyramid model: Win Win Formula .................................................................................................... 10
6.3 Success stories .................................................................................................................................. 11
6.4 The influencers .................................................................................................................................. 12
6.5 Snob Effect and possible repercussions ...................................................................................... 13
6.6 Attaining the equilibrium ............................................................................................................ 14
7. Suggestion for future research ........................................................................................................... 15
8. Conclusion ........................................................................................................................................... 17
9. Bibliography ........................................................................................................................................ 18


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1. Introduction
The worldwide luxury market is expected to hit the one and half trillion dollar
mark, out of which Europe shares the largest chunk of 70% (Lucas, 2012). In the
past few decades luxury markets have seen a drastic growth.
This growth is not due to coincidence the story of this immaculate progress lies
in the evolution of the luxury sector. The unparalleled growth became possible
by changing the corner stone of luxury that is its exclusivity in order to attract
the masses. This literature review details the concept of masstige by which
luxury brands have ventured to serve the masses by keeping the prestige intact.
The literature investigates exclusivity the main characteristic which was
reshaped by the advent of the masstige concept.
Then the literature review defines the core of the review which is masstige and
then explains how brands it was able to infuse masstige into luxury by keeping
their aura intact using the pyramid model. Success stories of brands are
discussed who have successfully grown using masstige without damaging their
perceived exclusivity.
Success in this strategy is a balancing act as masstige can lead to disasters as
snob effect can come into equation and customers can stop buying brand,
strategies of creating perceived rarity is discussed so brands can remain
exclusive and oblige the masses at the same time.


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2. Meaning of luxury
Luxury has been derived from the latin word luxus along with luxe, lusso and
lujo that are the French, Italian and Spanish versions of it. (Dubois et al, 2005).
Luxus means excess, gluttony, flamboyant lavishness. (Oxford Latin Dictionary,
1992).
Berry (1994, p.24) argues that the concept of luxury is not something excessive
rather its just an extension of something preexisting for example a normal car
will fulfill the function of commuting whereas travelling in a Bentley will add
hedonism to the entire process. We cannot classify luxury as product or object
rather it is a doctrine on which a society lays its cultural aesthetics (Okonkwo,
2009, p.234). It is difficult to define luxury its definition changes from era to
era, in different cultures and locations luxury is defined differently. (Tungate
2009, p.6), the definition varies due to the amalgamation of motivation that is
based on individual values (Vigneron and Johnson 1999, p.7).
3. History of luxury
Humanity is traced back from the time when we started burying our dead, and
in those ancient graves they buried their precious belongings along with their
bodies that were the emblem of their authority (Kapferer and Bastien 2009, p.6)
According to the Christian Bible, in 1010BC and beyond 100BC generous
consumption of luxury metals such as gold silver and myrrh was observed.
(Okonkwo, 2007, p.15) In ancient times people differentiated themselves from
other by beautifying themselves with fur, feathers and small pieces of bones as
to exhibit. (Thomas, 2007, p.18)
Egyptians developed the techniques of mummifying corpse which were on for
the elites (Kapferer and Bastien, 2009, p.7) Ancient Egyptian beliefs about

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luxury were supported by their cultural rituals, burial and other ceremonies
were glamorized by using luxury such as gold. (Okonkwo, 2007, p.15).
Luxury played an equally important part in the Roman era. Romans initially
thought of luxury a tool of moral degradation (Berry, 1994, p.57). There were
limitations on the consumption and presentation of luxury clothing jewelry and
wealth which averted masses from replicating the riches and engaging in
conspicuous consumption (Thomas, 2007, p.169).
At the turn of the 15
th
century the face of luxury changed forever, the
renaissance was the period of the change and modernization for the Europe.
Whether it be artists like Leonardo da vinci or the advent of English literature
renaissance brought marvels and the most important of them were the Italian
designers who made magnificent clothing this period also saw the boom of
American aristocracy and their luxury. (Okonkwo, 2007, p.20). European royalty
signified luxury as they thought of it as a tool of communicating rank.
(Belozerskaya,2005, p.21) The main reason for the increase in demand of
luxury good was due to the rise in banking industry in Europe, most of the
wealth was concentrated in banks which resulted in refined taste of the new
wealthy. (Goldthwaite,1989, p.34).
18
th
century was the era of revolutions, France and America saw revolutions
which brought immense change in the luxury, these changes were carried into
the 19
th
century liberalism was encouraging for luxury that was the first time
luxury was separated from morality it freed the luxury from the clutches of
religion which resulted in gigantic growth of the sector. (Kapferer and Bastien
2009 p.9). 19
th
century was the beginning of luxury we see, many of the top
brands in today luxury scene launched in this era. Haute couture which ruled
the world of clothing and luxury for many decades was also developed. Post
world war economic boom and American consumer culture resulted in boom of
demands for luxury products. (Okonkwo, 2007, p.72).

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4. Characteristics of luxury
Changes in political thoughts and civilizations were the reasons behind the
changes in luxury but this evolution suggests that luxury became more
powerful (Sekora,1997, p.2). The underlying meaning of luxury is based
mainly on two broad factors which are psychological value and product
perspectives, psychological value achieves the desired status a person want to
achieve by using luxury products whereas product perspective relies on the
attributes and features of a luxury good which are exclusivity, scarcity, price,
uniqueness and artistry. (Fiona and moore 2009) Luxury products can be
distinguished from other products by few basic traits which are exclusivity, high
price and brand image which makes the traits more necessary when compared
to the functions of a product. (Jackson and Shaw ,2000, p.158).

5. Exclusivity
The idea of luxury is essentially linked to the concept of exclusivity which
suggests premium pricing and rarity (Hudders et al 2013). This notion is
argued that if luxury goods are not premium priced they lose their elitism and
rarity (Dubois and Duquesne 1993). The rising demand for individuality and
prestige defines the reason luxury falls within the service industry. Exclusivity is
not the most important issue in valuation however lack of exclusivity would be
a reason for devaluation. Therefore a brand should never lose its uniqueness.
(Kapferer and Bastien 2009)
Luxury brands are supposed as exclusive for the reason that they have unique
and distinctive characteristics that are not found in other brands (Caniatoa et al
2009). The tradition of luxury is based on rarity which is why Hermes Kelly
bag sales are restricted due to the shortage of ideal crocodile skins obtainable
worldwide Moreover Patek Phillippe, Romanee Conti vineyards and Ferrari also
limit its production of Watches, Wine and cars respectively. Nonetheless

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shareholders of luxury companies do not appreciate physical shortage of
production as it hurdles quick growth. (Kapferer 2012).
Luxury products as extraordinary and quite rare (Kisabaka,2001, p.12) the
growth of the luxury market can only be achieved by becoming less exclusive
(Kapferer 2012). The Veblen effect suffices that rarity results in profits. It
conflicts with the traditional demand theory that the rise in the price of a good
would elevate the demand of the product. One of the reasons behind it is
conspicuous consumption where people desire to be unique and would not like
to be associated with the masses hence the demand for a product reduces as a
result of the increase in the number of its consumers. Another reason behind
this theory is the bandwagon effect which could also be defined as the peer
pressure effect where consumers buy the same products that are bought by
their peers or between people in common groups (Tynan et al 2008)
6. Masstige

6.1 Introducing masstige: The new order
Today many luxury brands are widening their portfolios and are now selling to
the masses. Luxury brands have to face two contrary challenges. First to
maintain their uniqueness and individuality and secondly to do that while
raising brand awareness to new or prospective consumers due to which they
could increase their market share (Kastanakis and Balabanis, 2011). The new
phenomenon of masstige or mass prestige account for the goods that fall
between the category of mass and class. In terms of pricing compared to
similar products they are priced higher but less than the traditional luxury
goods (Silverstin and Fiske, 2003).
There has been an increasing demand for masstige goods which enables
consumers to buy a mid range product of a luxury brand which would associate

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them with the company (Kapferer and Bastien 2009) but it is also argued that
Going mass for luxury brands would mean to sell in retail and department
stores, duty frees and through online selling which would contradict their
notion of being exclusive and the brand message hence making them ordinary
and widespread (Thomas, 2007, p.156).
6.2 Pyramid model: Win Win Formula
Thomas (2007, p,170) stated that the biggest change in the luxury market was
the liberalization of luxury when the words mass and prestige were joined
together to make up the term masstige due to which most luxury brands are
dealing with lower priced products in their selling portfolio which is to secure
targeted sales and also guide customers to their higher end products. Today
The Haute couture industry in places like France is diminishing, only few
designers like Chanel are still manufacturing it as haute couture is created by
the finest craftsmen and attract its niche market of consumers but due to
economic recession luxury brands now are focusing on other products that are
placed mid- low level on the pyramid whereas haute couture is positioned on
the very top because of its exclusivity and inaccessibility. The pyramid principle
depicted in figure 1, has allowed brands to extend their wings into different
segments and bring in mass products to increase companies bottom line
without eliminating the elite products (Kapferer and Bastien, 2009, p.251).


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Figure 1: The pyramid business model (Kapferer and Bastien 2009).
The challenge for luxury brands regarding pyramid model is to maintain
consistency between different products similar to how an orchestra falls
together under a conductors wand. However there are several obstacles
involved which includes loss of creative authority that could in turn persuade
consumers decisions and that lower level products could affect the image of
higher end products (Kapferer and Bastien, 2009, p.252). Categorization of
different product lines and redesigning of more prestigious products can
restore prestige (Kastanakis and Balabanis, 2011).
6.3 Success stories
According to research there are many luxury brands who have applied the
concept of masstige in their business models. For example BMV has been
renowned for making one of the most expensive cars but now have introduced
BMW 1 series that costs around $19000 as compared to BMV sedans that costs
around $50,000(Truong, McColl and Kitchen, 2009)
Chanel also practices masstige as it targets younger women with the brand
association of Coco Mademoiselle which is relatively admired in Asia (Edwards,

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2012) as well as introducing costume jewellery in their product lines
(Crane,1997). Chanels success story lies in the success of all the levels on its
pyramid; Chanel is one of the few brands that has a profitable haute couture
line whereas its masstige products such as leather accessories are equally
successful and profitable (Kapferer and Bastien, 2009)

6.4 The influencers
Historically the sense of luxury was constrained through different laws, however
during the time of Industrial revolution there was an injection of wealth in the
economy which made masses within reach of luxury products (Hauk and
Stanforth 2006). This change was named as democratization of luxury (Truong
et al, 2008) as Twitchell, (2003,p.88) explained that products that were only
bought by the privileged were now consumed by the commoners too.
Fiske and Silverstein (2003) suggested that people from the middle and lower
classes were now able to consume luxury goods because luxury brands were
selling their products at reasonable premiums as well as brands were trying to
improve their quality and production efficiency to attract new consumers. There
are a number of major factors explaining the reason for this occurrence. On
one hand, the economy over the world predominantly on the western
hemisphere has become more favorable as a result of increasing employment
levels amongst the working class which leaves them with sufficient disposable
income to spend on luxury goods (Fiske and Silverstein, 2004). On the other
hand in many Asian countries people who were unexposed to the cult of luxury
were now increasing consuming luxury products as shown in a research that
60% YSL coutures sales are constituted by Asia (Nueno and Quelch, 1998).
Historically the sense of luxury was constrained through different laws, however
during the time of Industrial revolution there was an injection of wealth in the
economy which made masses within reach of luxury products (Hauk and
Stanforth 2006). This change was named as democratization of luxury (Truong

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et al, 2008) as Twitchell, (2003,p.76) explained that products that were only
bought by the privileged were now consumed by the commoners too. Tungate
(2008, p.91) agreed this democratization of luxury was observed in the
beginning of 1960s after the 2nd World War when the supremacy of the hub of
fashion Paris was questioned and the concept of haute couture started
becoming extinct. However argue in their book that due to the introduction of
standard sizing industrially manufactured and conveniently priced goods the
notion of prt a porter was already initiated in Italy during the 1950s (Corbellini
and Saviolo, 2009)
6.5 Snob Effect and possible repercussions

Consumption of prestige brand is associated with the indication of power and
social status, it is the way by which consumers communicate their social image
and rank (Baek et al 2010). Self-monitoring impacts prestige consumption
whereas sexual orientation of consumers effects conspicuous consumption
(Cass and McEwen, 2004)
Brands have extended their product range since the democritaization of luxury,
more products are focused towards the middle income segments which have a
different meaning to luxury which is more connected to exclusivity (Truong et
al 2009).
For products which have higher exclusivity factor like luxury snob effect
becomes relevant, opposite of bangwagon snob effect refers to the state when
consumers decrease or completely abandon a product due to increase in its
demand from other customers. People want to look unique thus are attracted to
exclusivity (Leibenstien, 1950). Figure 2 below depicts that prestige is often
related to two factors price and the cognizance of social status, snob is an
interpersonal effect which works in two direction at first consumers with higher
cognizance of social status will buy the product when the product is new but

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when eventually price will fall they will stop buying the product. (Vigneron and
Johnson 1999).

Figure 2: Prestige seeking consumer behaviors (Vigneron and Johnson 1999).

6.6 Attaining the equilibrium

Kapferer and Bastien (2009) suggests that the evolution of luxury from its more
conventional form towards its more unorthodox form of masstige and trading
up has resulted in humungous growth for the luxury brands like Louis Vuitton
and Ferrari but to manage the tradeoff between the new and conventional
forces brands have to enforce rigorous and unconventional techniques. By sub-
branding companies can use branding factors to maintain space between there
prestigious and masstige sub-brands, whereas these factors can also help them
to mutually enjoy advantages of all the company brands (Keller, 2009).
Masstige brought growth and exceptional profits the culture of chavs in Britain
and bling America flourished but it brought new complications for the
industries. Now luxury brands had to face the problem of higher inventories
and unsold items because fashion trends started to change faster, thefts were
increased and increased desire for luxury in the growing middle class led to
counterfeiting (Thomas, 2007, p.154).

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Truong et al (2009) suggests that luxury brands can still manage the prestige
by balancing two essential factors prestige differentiation and charging a
slightly higher price, prestige can be achieved by advertising in high end
fashion magazines whereas visual prestige can be enhance by providing
elegant, chic and alluring stores. Price premium can induce slight inaccessibility
to counter the snob effect.
Kapferer (2012) proposes that rarity and exclusivity can be mimicked by
offering limited edition products every now and then which will uphold the
desirability of the product, selection of distribution channel can create of
impression of rarity where firms can sell its entry level relatively cheap products
such as fragrance from famous departmental stores. The alliance of Karl
Lagerfeld and HNM in introducing a pret a porte line is the best instance of
equilibrium where Karls exclusive craftsmanship was combined with a
extended distribution channel of HNM and a feel of rarity was given by pricing it
a bit higher than normal HNM lines (Thomas, 2007). Communicating the dream
is essential in creating rarity, brands can advertise about their relatively
expensive lines instead of the cheaper ones creating prestige in the minds of
the customers (Kapferer, 2012).

7. Suggestion for future research
The literature review suggested many variables that can be researched in
future; finding reliable and good source articles on the subject was difficult.
The studies on the subject of masstige and its impact were limited.
Most of the studies present on the subject of masstige were based on
theoretical models and conceptual framework. Future studies can conduct
empirical test on the masstige and the factors that affect the theory some of the
questions which are empirically tested in future are.

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1) The impact of masstige on the financial growth of the luxury brands.
2) The impact of masstige on interpersonal factors and consumer behavior
3) The impact of higher income levels and other economic indicators on
mass luxury
Many future studies can be conducted on the subject, the two main factors in
luxury buying behavior which are self-consciousness and price level can be
studies in depth to understand its impact on the mass luxury and consumer
psyche. Another area of study that can be explored in future is the impact of
masstige in context of different geographical and demographic denominations.
There was no empirical study on the influence of pyramid model on different
luxury brands which can also be investigated.
Empirical research could be done to deduce the impact of price premiums on
masstige strategies (Truong, McColl and Kitchen, 2008). There is also very little
research available on the emerging luxury markets of China, India and
Russia(Tynan, McKechnie and Chhuon,2010) that have growing a middle class
which is a core segment that has been focused to sell masstige goods. Without
in depth study of these markets it is difficult to ascertain the level of impact
given by masstige.


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8. Conclusion
Meaning of luxury has always been a relative term but masstige has changed its
meaning in entirety, although luxury changed its course many time in history
but masstige proved not only to be the most significant change but it also took
luxury sector to heights which were not imagined before.
Change in economic factors and growth of the middle class has created a
voluminous demand but fulfilling this demand needs to be tackled carefully.
Luxury brands are in constant drive to utilize the advantages of masstige
keeping in view the side effects it can cause, exclusivity is what differentiates
luxury from other goods and services. It is essential for luxury brands to attain
a progressive equilibrium between going mass and keeping it rare at the same
time.
Brands are using strategies such as virtual reality and infusing premium pricing
to create exclusivity. Premium pricing can help brands to counter the snob
effect by high end luxury customers. Masstige is the future of luxury but the
only contention is to keep the exclusivity and accessibility of luxury products in
intact.


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Luxury From Luxus To Masstige

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