When I was a little boy, I remember that my grandparents only wore blue, the workers' uniform of China. My parents had the chance to work for emerging companies in the new Chinese economy and I remember that my father wore only gray suits, or blue jackets with white shirts. The men of today's young generation like me are adopting branded styles rather than expressing their own personality. I only wear black suits. Luxury brands facilitate our choices. Of course, my children are different: they just look weird.
The New World economy has been strongly impacted by the rise of China, and immense wealth has been created in other countries such as Korea, Brazil and India. With China, and territories such as Taiwan, Hong Kong and Macau forming Greater China, immense wealth has been generated during the last 25 years. This new clientele consumes Luxury creations with pleasure, discovering the quality, and learning how to appreciate and self-reward with the best from around the world.
Unlike in the Old World, where wealth, like the mindset of Luxury, is passed down from one generation to the next, in some regions there is an entirely new mindset emerging in Luxury consumption. Our new clients have no one in their history to emulate—customers have to acquire this cultural aspect by themselves. Wearing jewelry is a good example; when your parents do not wear jewelry, you are not used to wearing it either and you may not know how to match jewelry with attire. The same goes for make-up. Luxury advisors should make the most of this exceptional opportunity to fulfill this special need for advice—on products and beyond products—for their customers.