Luxury is a "perception", a "very personal thing" and can mean many things at different times, experts from the lifestyle industry said at an event here Thursday.
"Luxury is a perception. There is a quality of emotion which is attached to it," Raseel Gujral Ansal, lifestyle designer and co-owner of Casa Paradox, said at "Indian Lifestyle from Luxury to Simplicity'' at the Pride & Prejudice event organised by the Young FICCI Ladies Organisation (YFLO).
"Luxury can mean so many different things to me at different times. Time is a luxury, the inaccessible is a luxury, aspiration is a luxury...Luxury for me is a sensory process. It appeals to you at a sensory level. It must be able to evoke an emotional response. It must be able to invoke a sense of sensory emotion and calm," she added.
Participating in a panel discussion, Jamal Shaikh, editorial director of Robb Report, said, "Luxury is about evoking emotions that is so special that you are willing to go that extra mile for it".
"Luxury evokes class, it is about appreciating finer things. People must go for something if it gives them fulfillment. It is not about what is in vogue. Luxury is a very personal thing," he added.
Aman Nath, co-chairman, Neemrana Hotels, felt luxury is more about being impulsive. "People who want luxury are not necessarily the ones who will be satisfied. It is an illusion of possession. It has nothing to do with being rational," he said.
The discussion was moderated by Sujata Assomull Sippy, fashion columnist and brand strategist.
The panellists said that the concept of "value for money" cannot be associated with luxury. "Value for money and luxury are opposing sides...the dollar might go up and down but art will remain constant. If I don't have the money for something then I will not buy it. But I will certainly not buy it because the dollar is up or down," said Ansal.