The Evolution of Luxury: 1st Edition (Paperback) book cover

The Evolution of Luxury

1st Edition

By Ian Malcolm Taplin

Routledge

184 pages

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Paperback: 9780367351229
pub: 2019-10-07
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Hardback: 9780815386513
pub: 2019-10-07
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Description

This book offers a unique analysis of how our definitions of luxury have changed over the ages, and with that the role and actions of both suppliers and buyers of luxury products. It traces the way luxury was seen as avarice and emblematic of morally corrosive behavior in past societies to being viewed in more virtuous terms as the inevitable outcome of structural changes that legitimize the acquisition and display of wealth. It examines the origins of the shift from criticism to acceptance, and traces these changes to fundamentally different notions of what constitutes the basis for social order.

Whereas pre-industrial hierarchies cloaked inequality in various secular and sacred guises to mitigate its presence, capitalism justified and reified inequality as a measure of individual success and initiative through interdependent market behavior. The result of this transformation is that status markers have become aspirational tools as hierarchies became porous and self-identity less ascriptive.

Correspondingly, as demand for luxury became legitimized, the supply side underwent dramatic changes. Such changes are explored fully in the sectors of fashion, art and wine. As demand for high priced and scarce goods in each of these sectors has increased, in each case key actors have manipulated markets to purposefully either consolidate their pre-eminence or manufacture the requisite scarcity that affords them canonical status.

The demand for and supply of luxury goods is now global; consumers seeking validation and affirmation of their status whilst producers engineer scarcity. Luxury is seen not only as good, it is virtuous, its demand possibly insatiable and extremely profitable.

Table of Contents

List of Tables

Acknowledgements

1. Introduction

    Luxury fashion

    Market for art

    Fine wine

    Individuals, organizations and globalization

2. Luxury in historical context

    Luxury as vice

    Christianity and luxury

    Money, markets and morality

    The advent of capitalism

3. Industrialism, materialism and the birth of a consumer society

Culture of consumption

Industrialism

Home as domestic refuge and emblem of success

The dawn of mass consumption

Conclusion: Reconciling old and new

4. Mass production, mass consumption and new consumers of luxury

Mass production and mass consumption come of age

More money for workers to buy things

Selling the acquisitive lifestyle

Rethinking status

Inequality and materialism

What are people buying?

5. At Home in the Fields of Luxury: From artisan production to global brands

    Luxury branding

    Luxury goods firms

    The business of fashion

    Consolidation and growth

6. Art: From aesthetics to investment grade collateral

Art’s changing role

    Market intermediaries: Auction houses and dealers

    Modern art and the new marketplace

    Revitalized auction houses and dealers become galleries

    Is art a good investment?

    Conclusion

7. Fine wine – the case of cult Napa

    Evaluating wine

    Wine’s early history

    Quality control

    California’s early wine history

    Napa’s rebirth

    Cult Napa: luxury wines from the new world

    Conclusion

8. Conclusion: Pilgrims on the luxury road

Bibliography

Index

About the Author

Ian Malcolm Taplin is Professor of Sociolgy and International Studies at Wake Forest University and Visiting Professor at Kedge Business School, Bordeaux. He is the author of numerous articles and books on the organization of work in the clothing industry and the evolving structure of markets in the wine industry in Napa California, North Carolina and Bordeaux. He is the North American Editor of the Journal of Fashion Marketing and Management.

Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS041000
BUSINESS & ECONOMICS / Management
BUS043000
BUSINESS & ECONOMICS / Marketing / General
BUS070090
BUSINESS & ECONOMICS / Industries / Fashion & Textile Industry
BUS073000
BUSINESS & ECONOMICS / Commerce