What’s the most romantic place in the world? Like luxury, romance is in the eye of the beholder. And luxury romance even more so. For some it’s a secluded beach, for others a cozy chalet in the mountains. It might be a treehouse for two high in the jungle. Or a café in Paris.
With Asia forecast to have 1 billion affluent consumers within the next decade, it’s a rather pressing issue to understand the nuances of what passes for luxury there. In the first quarter of this year, LVMH reported that 37% of its global revenue came from Asia. The region is huge and its cultures varied, so it’s foolhardy to make broad statements about the nature of Asian luxury. That said, taking a look at Hong Kong, Singapore, Tokyo, and Shanghai versus New York, London, Paris and Milan, some interesting themes emerge. Here are a few things I’ve observed in my travels:
It’s not uncommon to hear people who are not all that engaged in the topic state that luxury brands are basically all the same – meaning that they’re expensive, elite, and exclusive.
