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Wealth. In a popular sense, it is the lifestyle of the rich and famous. Celebrities, CEOs, Wall Street Hedge Fund Managers, Monarchs, Prime Ministers and Foreign Dignitaries all fall into this category. While some aspire to have this lifestyle, others criticize the exuberance of it. Their expensive tastes saturate the luxury goods market with Lamborghini, Patek Philippe, and Ermenegildo Zegna – words as illusive to the tongue as it is to the pockets of many. The media portrayal of these movers and shakers of the world is a lavish lifestyle that most would envy. Whether it is the fictional portrayal of Ironman’s wealth or the real life example of SpaceX and Testla Motors CEO (the inspiration behind the character Ironman himself), Elon Musk, the lifestyle of the affluent thrives in American media. What is it about this lifestyle that captivates so many people?

For me and other colleagues of mine, the chase of this lifestyle is a measure of success. Success not measured in monetary value, but as a leader in his industry. The commonality of everyone I have listed above is not just their wealth. It is their influence in society. It is their names and legacy that will live on in the history books that future generations read. As Economic students, we are type-A personality people labeled as goal-oriented, success driven sharks thriving in a dynamic fast paced culture. With the recent recession and turmoil in Europe, there have been many debates on class and the connotations of wealth have been dragged through the mud. The Occupy Wall St. movement raises the issue of unequal wealth. In other parts of the world, the economic boom of emerging markets such as The United Arab Emirates, Brazil, Russia, India and China have newly minted a social class of extraordinary wealth.

I have always believed that one should aspire to climb up the social ladders, not pull others down to their level. A few summers ago I had the opportunity to work with some of the wealthiest clients through an internship. In the financial world, they are known as ultra-high net worth clients. These guys, millionaires and billionaires, are the people who have more commas in their bank accounts than there are in this sentence. Moreover, they have overcome and continue to face challenges that are tremendous feats. Their lifestyle rewards them with every victory but the losses can be that much more painful, when you have so much to lose.

The multiple facets of the luxury market are as complex as the consumers that drive it. The effects of wealth cannot be measured in a monetary value despite our efforts to attribute a number to it. How is wealth created and destroyed? What value can do consumers attain through purchases that seem absurd to many? How are the new generations of young adult who are heirs to these vast empires that their forefathers built going to shape the luxury market? Are the technological advances in the world closing the wealth gaps? These are the intricacies that are not depicted when we think of wealth. Have a seat as we travel on our luxury yatch, jet, or sports car and navigate through this world.

Voices Post

You’ve found the love of your life, the cliché soul mate novels and movies talked speak about, the one who has made your life richer than any monetary value can measure. Taking your relationship to the next step, you would want to embark on a journey that unifies the two of you together – marriage. You also have a perfect way to proposed to her. More than that, you want to make sure the ring you give her is as eternal as the unfathomable love you bring her. What symbolizes that? How about the engagement ring Emperor Napoleon Bonaparte gave to Josephine to solidify their union? A piece of history that she will forever cherish, this luxury piece of jewelry cost a mere $948,000.

This post was documented by a site called luxurylaunches.com. New posts pop up every day regarding different products in the luxury markets. From surveys of the most expensive places to live to updates from the most luxurious companies and millionaires/billionaires, this site comprises of multiple articles that revolve around the luxury goods market. Covering all facets of the luxury markets, this site truly explores it through a unique and professional voice.

Although there are multiple authors who contribute to this site, the voice of an author name Neha stood out frequently. Neha opened the post "Napoleon and Josephine's Engagement Ring sold for $948,000" with "Great love stories are eternal, giving a piece of those love stories to your loved one requires two things, a big heart and a big pocket." When we look at Neha’s voice, it embodies much of the qualities one look for when interacting in the luxury world. A concise and succinct title clearly illustrates the professionalism one would expect. Neha also wrote, "Lucky as she is, for the man not just the ring, she now owns a part of history as engagement ring once belonged in the collection of Napoleon III, who was a nephew of Napoleon Bonaparte, and his wife, Eugenie, and then to their descendants." Relating it back to universal theme of marriage, Neha reveals a sense of character behind the net worth of the person purchasing this type of ring.

On another post titled, “Swarovski-studded stallion Lightning steals the show,” Neha wrote, “The term masterpiece fits this piece aptly as its painstakingly crafted using 39,600 hand-set Crystal Copper, Jet, Mocca, and Smoked Topaz crystals.” This tone illustrates and relates back to the overall message of the site of connecting and exploring the luxury goods market. Although the product is extravagant, the underlying message lies in the quality of work, the skills of the artists, and the craftsmanship that ties everything together. This type of voice promotes both a sense of expertise and presents the audience a world of luxury in a much more relatable fashion. 

Profile Post

Green! A color. A movement. A luxury blog? Yes, it does exist. Ladies and gentlemen I give you “Eco. Luxury. Style” This is a blog dedicated to this idea. While the green movement to build a more sustainable planet is not a new concept, it has been gaining more and more traction. Every year, top tier research universities crank out reports for this movement. In turn, environmental advocacy groups start lobbying our government for more laws and regulations in support of reducing our carbon footprint; everywhere from local, state, and federal. Eventually, companies need to comply with these regulations and create their own initiatives to incentivize their employees. I guess, the luxury market is a slow mover in this realm but this movement has finally reached it.   

You may have heard about luxury travels via private jets, but have you heard about sustainable air travel? Luxury jewelry completely saturates the markets in so many different forms, but have you heard about Ethical Jewelry practices? The luxury real estate market built vacation homes in the most exotic areas in the world, but how about sustainable are their home designs?

This site is truly amazing. Giving a dimension on the luxury goods market that has not been explored, this site devotes its content to exploring the greener side of this world. I would not be doing my job if I have offered this concept to you guys, but “Eco. Luxury. Style” is a pioneer in this field.

Imagine the typical “5 Most Expensive Vacation Destination” blog that appears on countless of magazines or websites. Now replace that with a headliner like “Cote d’Azur Sees Green.” The name Cote d’Azur elicits one of the most beautiful places to vacation well known for the Festival de Cannes, one of the most sought after ticket in the motion picture industry. In addition, this article explores places like Nice, Antibes, and Cannes in terms of luxury and eco-standards.

In addition to the traditional media blogs, this site also post videos regarding the luxury life. Just have a look into the “LuxuryLife Of Monaco & A Luxury Tour Of Monaco.”

Exploring this concept gives a new perspective into the future of the luxury markets and how our generation is adjusting to the green movement. This is a niche within a niche market. Moreover, it will invigorate future leaders of this industry to take into account the value added of “Eco. Luxury. Style” – forever changing the way the consumers think about the luxury market.