Luxury consumers have been criticized as behaving irrationally since at least Aristotle. At the same time, the luxury sector is alive and well, growing very quickly in spite of a global economic crisis: a 7% annual rate during 1995–2013, a predicted 9% annual rate to 2020 (Bain & Co. 2014). It has for centuries been associated with rarity and with a clientele of the “happy few,” the aristocracy, the rich and powerful, but its huge sales (217 billion Euro in 2013) result in large part from a very large downward extension of its clientele to the “happy many” (Dubois & Laurent 1998). This paradox creates a need to understand better the behavior of luxury consumers and the strategies of the luxury sector.
« This is the place where researchers of the world meet together and present their most recent cutting edge research on luxury . This is also the place where academics meet executives of the luxury industry »