The African Business Review July-August 2014 | Page 80

Meaning is the
new luxury
By Magatte Wade

The definition of luxury is changing, from one that
alluded to expense and quality, to another that
now includes sentimental, cultural, moral and
ethical considerations.
Traditional luxury goods were those high-quality goods that
only elites could afford to purchase: Large diamonds, exotic furs,
rare perfumes, expensive cars. Very often, the boundary between
luxury and simply expensive became blurred: Around the world
“old money” often ridiculed the “nouveau riche” for their poor
taste. Often this poor taste consisted of purchasing ostentatiously
expensive goods rather than real quality. Truly aristocratic families
were often discreet