Mistakenly using the word “luxury” to cover different realities, mixing genres that do not yet meet the same operating rules. It would be relevant to distinguish entry-level luxury , prestige luxury and elitist luxury.
The term « luxury » changse each year . Many years ago, having a Pierre Cardin dress hand made was a luxury item. However, Pierre Cardin sell now plastic pen and things like it. Can those pens really be considered as luxury goods ?
The luxury of yesterday is not the same of today and probably not the one of tomorrow. But as long as man is consumer, it will distinguish products that make it live.
When it comes to mass produced products , might be called ” entry-level”. Like Lancome, Lancel.
The elitist luxury (or exception) is based on the tradition of a unique expertise. Hermes is one of them.
The prestige luxury, is the more exceptional one. It is although about the expertise, the tradition of the brand, and all its history. It is the top of the top. All luxury brand want to be on the top of these pyramide. Only few brands are there, such as Louis Vuitton, or Petrossian (Caviar).