New brand fills need

New brand fills need

The growth and development of modern luxury, plus identifying a need to service the sector in a dedicated way, are key reasons for the formation of Our Luxe, according to creator of the Our World sub-brand Lindy Christian.

 

Christian says she and co-owner Rick Felderhof felt that by defining the luxury market more accurately the company can tailor product, development, promotions, communications and interactions with this segment always in mind. ‘Of course, the Our World (Our Pacific, Our Cruise, Our Asia) brands sell luxury and will continue to do so, but they tend to offer it as part of a wide range. Our Luxe is only talking to that segment and only including modern luxury product. ‘Modern luxury travel is now the number one channel for discretionary spending.’

 

Christian says the definition of luxury travel has changed considerably, partly, though not entirely, driven by Millennials and other younger travellers. ‘The core of modern luxury travel is centred on personalisation, authenticity and unique experiences often set in beautiful or interesting destinations. This is versus more classic luxury that was about opulence, prestige and exceptional service.’ She says the trend can be summed up by ’the modern luxury travellers viewing luxury more as an experience than a statement. ‘The new definition has broadened the number of suppliers with products and activities that can be considered part of the luxury market and continually allows more suppliers to join the segment.’ Christian says modern luxury has its own customer segments, including the ‘elite’ traveller – the type of traveller who has always sought luxury – and the ‘prudent’ traveller who may have only an occasional interest in luxury. But she says much of the growth is coming from the ‘aspirational’ segment. ‘These include what we call indulgers and quality seekers – mid income people who use luxury elements in specific situations for leisure travel and tend to take one to three trips per annum. They travel for leisure as couples, families (including multigenerational) and with friends.’ Christian says Our Luxe is an example of how Our World is evolving. ‘People talk a lot abut revolution and disrupters but we feel this is more about evolution of the business.’

ProMag