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Definition of luxury goods

luxury is relative and subjective, is usually defined as a rare, expensive and delicate and beautiful goods. Luxury goods meet people's unnecessary needs most of the time, and are a kind of creative things directly related to art. It is emotionally, experientially and sensually relevant and can be adapted to different societies and times.

History of luxury

Luxury goods refer to items that are precious, expensive, delicate and beautiful, usually symbols of power and social status. Luxury goods first appeared in ancient Egypt, when people began to use jewelry, perfume, colorful accessories and figurines, to show their aesthetic concepts and sense of beauty. Made for gods, pharaohs, priests and wealthy families, these precious objects were filled with exquisite craftsmanship and design, symbolizing social status and wealth, and becoming a symbol of luxury in ancient civilizations.

Although during the Renaissance, valuable fabrics, lace, silk, and gold and silver ornaments had begun to appear. But it was Louis XIV of France and his finance minister Jean-Baptiste Colbert at the end of the 17th century who really helped shape the history of luxury. They founded the Manufacture des Gobelins, which brought together the best designers, craftsmen and workers to produce mirrors, tapestries, porcelain and other unique and sought-after French luxury goods that are still present today.

The modern form of luxury goes back to the 19th and 20th centuries, when fashion houses founded by pioneering British fashion designer Charles Frederick Worth became mainstream. At that time, fashion designers worked only at the request of their clients, and there was no complete fashion collection to show. Then, in Paris, Charles Frederick Worth came up with the idea of organizing the first fashion show at some of the world's biggest events to showcase his collections. His work changes with the seasons, following a cycle that can still be seen on the fashion week show calendar today: spring, summer and autumn and winter collections. This is a major innovation and a unique idea in the history of luxury and fashion.

Who is the global leader in luxury goods

LVMH is the world's largest luxury goods group, covering fashion, cosmetics, perfumes, watches, jewelry, leather goods, alcohol and other fields, including Louis Vuitton, Dior, Chanel, Rolex, Bulgari and other well-known brands. With a valuation of €202 billion, according to 2022 data, LVMH is the world's undisputed leader in luxury goods.

The group owns 76 luxury brands, the most famous of which is the French top luxury brand Louis Vuitton, which is valued at 20.2 billion euros in 2022. Louis Vuitton, which began as a leather goods company specializing in travel cases, has become an iconic brand and an unassailable leader in the luxury sector thanks to its iconic history and innovative capabilities.

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