True luxury almost always has to do with limitations. This can arise through use of rare raw materials, but in recent times the limitations have been artificially created. This is a strategy typical of new luxury: a targeted shortage increases desirability. This then radiates to other products.
Let’s take the example of diamonds, which are by their very nature scarce. When the generation of 20- to 30-year-olds trades a pair of Nike Air Jordans for €1,000 on resale platforms such as StockX or even eBay, this matches the asking price of a pair of Balenciaga or Gucci shoes, both classic luxury brands. So the price tag and people’s willingness to spend heavily on fashion is stronger than ever.
Highsnobiety caught on to this trend early, accompanied it and helped shape it. The book “The New Luxury” chronicles this development – and indirectly the history of Highsnobiety.