All posts filed under: Luminaries

A CONVERSATION ABOUT LUXURY WITH OUR GUEST EXPERTS

What True Luxury Means to Me

Luminary essays are a window into how our guest experts think about the world of luxury – you’ll find data, insights, and personal stories that will help you see luxury in a new light. — I don’t ever think about luxury. I’m a maker, and an artisan. I put a lot of energy and thought into craft and craftsmanship. I value quality. I cultivate vision. I obsess on detail. I admire when things are done right.

The Luxury of Made-In-New York

Facing an historic number of retail shopping offerings, consumers today have begun to purchase more consciously with respect to quality, value and, for a number, sustainability. Artisanal, handcrafted, locally designed and/or sourced are the buzz…and the heart of New York Makers Marketplace and Magazine, a passion project of mine that has been a joy and delight (along with much hard work!) to bring to life. When I had the honor of serving as First Lady of New York, I spent time in all 62 counties,  simultaneously appreciating both the untapped economic potential of local makers and wishing all New Yorkers (and others!) could know about and appreciate fully the state’s remarkable richness and opportunities for culture, adventure, and excitement. What many of us seek in world travel can be found right in our own backyard. As the Wizard of Oz’s Dorothy learned, “There’s no place like home” — Coincidentally (or not?), the Wizard’s author, L. Frank Baum [www.allthingsoz.org] was born in Chittenango, New York, which features a yellow brick road or two, the All Things Oz Museum and a …

Why Big Data Will Fail in the Irrational World of Luxury

Luxury can be many things, but fully rational isn’t one of them. That’s why the data-driven trend in marketing is highly likely to fail in the irrational world of luxury. There’s a huge amount of scientific marketing chatter about Google algorithms, empirical quantitative research, media mix formulas, social media analytics and AI marketing metrics. It’s driven by the explosion of data at hand. Some estimates say that information is doubling every two years, due in part to the daily influx of 200 billion emails and the explosive growth of AI generated “news.”

Meaningful Experiences are the Greatest Luxury of All

The luxuries that are most engaging to me right now are the non-material ones. For me, luxury is all about having the opportunity to see and experience things that add meaning to my life, not just surrounding myself with stuff. I know many successful women share my view. When you can buy yourself anything, you think twice about acquiring luxurious objects for their own sake. I now take luxury in spending time with the people important to me, in magical places, and supporting the causes and craftspeople who align with my values. That’s not to say that I never want to buy beautiful things! It’s just that I want to understand their origin, and ideally I want them to stand for something. That has led me away from big corporate brands and toward individual artists. Part of the luxury of purchasing their work is knowing the authentic stories behind what they create. For example, I am lucky to know the founders of two my favorite jewelry brands, Bowen NYC and Foundrae, both based here in New York. These …