What defines luxury in today’s increasingly modernized world? According to a recent story, “The Real Reason Apple Is Crashing The Luxury Party”, the answer is inextricably linked with the tech industry, who is energizing the world of style, one Apple Watch at a time.
Companies like Apple Inc. are at the core of this discussion for the way in which they reinvent expressions of luxury, as well as what we consider to be luxury brands. “Traditionally, the fleeting nature and inevitable obsolescence of technology eliminated it from consideration as a luxury good,” states the article. But now, as international Vogue editor Suzy Menkes points out, “Luxury doesn’t just stand for beautiful leather that’s been made for 250 years the same way.” On the contrary, modern luxury is deeply, inherently and organically intertwined with digital technology, across sectors ranging from fashion and beauty to hospitality and art.
Apple Inc. was unquestionably a pioneer in shaping today’s retail landscape, bringing high-tech and high-touch innovation to the consumer shopping experience. Luxury brands continue to push the envelope, such as the “Magic Mirrors” used in Rebecca Minkoff’s first interactive store in New York City.
Regardless of whether Apple Watch fails or not, it’s in a category of digital disruptors of luxury, forcing us to understand how luxury has changed because of new technology, new behaviors and new business models, states the article.
Read the full feature here.