Luxury goods are products that are not essential but are highly desired and associated with wealthy or affluent people. They are bought for reasons such as, to support self-worth and status or for the product's quality and craftsmanship.
While walking the malls, you can see all different types of luxury brand stores. However, there are a few different ones the people just love. Here are examples of some of the top luxury brands and goods in the world.
- Burberry - This is a British luxury fashion brand that sells clothing and accessories, and is especially known for its classic trench coat.
- Cartier - This high-end brand sells primarily watches and jewelry.
- Chanel - Chanel was founded by Coco Chanel in France. This luxury fashion house sells clothing, purses, perfume, and cosmetics.
- Fendi - This company was founded in Italy and started out selling leather and fur products. Now its line also includes watches, eyeglasses and fragrances.
- Gucci - The House of Gucci sells Italian clothing and leather goods.
- Hennessy - This is a French distillery that started in the 18th century. It is the world's largest producer of Cognac.
- Hermès - Headquartered in Paris, this brand sells clothing, jewelry, and leather goods, particularly handbags and luggage.
- Moët & Chandon - This French winery produces more champagne than any winery in the world and is famous for Domaine Chandon and Dom Perignon.
- Rolex - This company has headquarters in Geneva and sells high-quality watches. It is the biggest seller of luxury watches in the world.
- Louis Vuitton - Founded in France in the 19th century, Louis Vuitton sells clothing, handbags, jewelry, shoes, and watches.
If you've got the money, you are going to spend it. It might be surprising just how much some luxury brand items can cost. Here are examples of some of the most expensive luxury goods:
- Champagne trunk ($54,000 in 2013) - The material for this one-off Krug trunk is corrosion-proof and the interior is red calfskin. Francois Bauchet designed the ice bucket.
- Box of chocolates ($10,000 in 2013) - The box was designed by Patchi and has suede leather with linings of gold and platinum. The Swarovski Studded Chocolates are wrapped with Indian silk. These one-of-a-kind chocolates are no longer available.
- Clive Christian perfume ($12,721 in 2021) - The No.1 Imperial Majesty is cut glass crystal with a collar made of 18-carat gold.
- Crystal bathtub ($1,240,651 in 2021) - This was made from a single piece of Rose Quartz Crystal from the Amazon rainforest. It took six months to carve and was made by Baldi, an Italian company.
- Diamond-encrusted putter ($161,000 in 2013) - This one-off putter is decorated with 378 diamonds, 240 rubies, and has an 18-carat white gold head. This is definitely a collector's item rather than a putter to use.
- Diamond manicure ($250,000 in 2018) - Azature nail lacquer uses 267 carats of black diamonds and is considered the most expensive polish as of 2018.
- Eco-friendly bed ($93,000 in 2021) - Vi-Spring had this bed made completely by hand. It contains 6,240 springs topped with blended lambswool and cotton, silk, and cashmere.
- Fridge ($15,729 in 2013) - This is a limited-edition refrigerator adorned with 7,000 Swarovski crystals and was made by Gorenje.
- Man's shirt ($44,740 in 2013) - Made by Eton, a Swedish shirt maker, featured a one-off shirt made from Egyptian cotton and has colored diamonds sold at Harrods.
- Sandals ($1,600,000 as of 2021) - These one-of-a-kind stilettos were designed by Stuart Weitzman and have a total of 120 carats of rubies adorning them. The rubies are set in red satin stilettos which are framed with pure platinum.
- Tea ($600,000 per pound as of 2020) - Da Hong Pao tea leaves come from the Wuyi Mountains, are cultivated from plants grown for over 300 years.
An easy way to think of the luxury goods definition is an expensive item you want rather than need. These items aren't necessary to survive like food and shelter, but they are extremely desired. Additionally, the higher income you have, the more demand there is to buy luxury items. For example, a $500 dollar Gucci bag would be a luxury item because someone wants it or it's the latest trend. You don't need a Gucci bag for your purse. But it is a desirable and in-demand accessory that some have the wealth to enjoy.
As you can see, these items are very expensive and made by famous designers or with high-quality materials. They are prime examples of luxury goods. Learn more about the types of goods and services by checking out simple examples of goods and services. You can also explore the difference between normal goods and inferior goods.