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Affordable Affluence
Affordable affluence refers to a cultural phenomenon where consumers use accessible luxury goods and lifestyles to project status and align themselves with a higher social class, without requiring substantial wealth. This concept is embodied by brands such as Aritzia and Erewhon Market, which position themselves as offering high-end, trendy, or health-conscious products that are relatively accessible to the average consumer. A related concept is quiet luxury, where the ultra-wealthy signal wealth through subtle means. Quiet luxury emphasizes the widening gap between the ultra-wealthy and the general public, whereas accessible affluence provides a way for the general public to indulge in the lifestyle of the ultra-wealthy. Origin of the term An early use of the phrase in this context in a 2023 article in ''The Cut (New York), The Cut'' called "Meet the People Working 3 Jobs to Afford Erewhon." One of the interviewees used Erewhon as an archetype of affordable affluence. It was d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aritzia Store Canada
Aritzia LP is a Canadian clothing retail company founded in Vancouver, British Columbia, by businessman Brian Hill (CEO Aritzia), Brian Hill in 1984. Aritzia sells a variety of lifestyle apparel through various upscale retail stores across Canada, the United States, and online. Aritzia describes itself as "everyday luxury" brand at attainable prices. History Aritzia opened its first store in 1984 in Oakridge Centre, a shopping mall located on Vancouver's West Side. Since making national forays across the Canadian retail clothing landscape throughout the next two decades, the company opened its first U.S. stores in Seattle and Santa Clara, California, Santa Clara in November 2007. The company Initial public offering, went public on October 3, 2016. In 2019, major shareholder Berkshire Partners, an American private equity company, exited its stake. In June 2021, Aritzia announced it would be acquiring Reigning Champ, a menswear-focused Canadian athleisure and streetwear br ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aritzia
Aritzia LP is a Canadian clothing retail company founded in Vancouver, British Columbia, by businessman Brian Hill in 1984. Aritzia sells a variety of lifestyle apparel through various upscale retail stores across Canada, the United States, and online. Aritzia describes itself as "everyday luxury" brand at attainable prices. History Aritzia opened its first store in 1984 in Oakridge Centre, a shopping mall located on Vancouver's West Side. Since making national forays across the Canadian retail clothing landscape throughout the next two decades, the company opened its first U.S. stores in Seattle and Santa Clara in November 2007. The company went public on October 3, 2016. In 2019, major shareholder Berkshire Partners, an American private equity company, exited its stake. In June 2021, Aritzia announced it would be acquiring Reigning Champ, a menswear-focused Canadian athleisure and streetwear brand, for $63 million. In May 2022, Jennifer Wong took over as CEO, re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Erewhon Market
Erewhon Market ( ) is an American upscale grocery chain with ten locations, all in Los Angeles County, California. In June 2021, Erewhon became a Certified B Corporation. History Erewhon was founded in Boston, Massachusetts, in 1966 by Michio and Aveline Kushi. The name "Erewhon" is derived from the 1872 satirical novel ''Erewhon'' by Samuel Butler. In the novel, Erewhon, an anagram of "nowhere," is a utopia in which individuals are responsible for their own health and prosecuted for the crime of being ill. The Erewhon Organic brand was originally a health foods producer with a single store in Boston. The Kushis moved to Los Angeles and opened Erewhon's oldest operating location, in the Fairfax District, in 1969. In 1979, the brand was purchased from bankruptcy by employee Tom DeSilva. In 2011, Tony and Josephine Antoci purchased the Fairfax District store from the widow of Tom DeSilva. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quiet Luxury
Quiet luxury is a lifestyle characterized by understated elegance and refined consumption, emphasizing exclusivity and discerning taste without overt displays of wealth. Other terms related to the concept include stealth wealth, old money aesthetic, or silent luxury. Definition The quiet luxury aesthetic focuses on subtle sophistication through the use of muted colours and quality materials, and an emphasis on craftsmanship and timeless design, rather than flashy logos or ostentatious branding. Although the concepts of quiet luxury and stealth wealth have been equated, there may be differences in usage. While stealth wealth connotes hiding wealth, quiet luxury connotes subtly signalling wealth. Quiet luxury has also been likened to minimalism, although more elevated and riskier, and normcore, but more polished. A related concept is " affordable affluence", where the average consumer purchases goods or services that are perceived as exclusive, yet are still affordable. Whil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Cut (New York)
''The Cut'' is an online publication that, as part of '' New York'' magazine, covers a wide range of topics, such as work, money, sex and relationships, fashion, mental health, pop culture, politics, and parenting, with a specific lens for women. History Launched in 2008 as a fashion blog, ''The Cut'' became a stand-alone vertical in 2012 and shifted its focus from fashion to a broader range of topics. Stella Bugbee, who launched the site as editorial director in August 2012, became editor-in-chief in 2017, the same year the site unveiled a mobile-first redesign and new site sections: Style, Self, Culture, and Power. In 2018, ''The Cut'' launched a T-shirt shop at Amazon. ''The Cut'' expanded into e-commerce with the Cut Shop, a digital boutique giving readers shopping recommendations spanning fashion, beauty, wellness, and home products. Since 2018, ''The Cut'' has had Spring Fashion and Fall Fashion print issues that run on the flip side of ''New York'' Magazine's own biwee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Generation Z
Generation Z (often shortened to Gen Z), also known as zoomers, is the demographic cohort succeeding Millennials and preceding Generation Alpha. Researchers and popular media use the mid-to-late 1990s as starting birth years and the early 2010s as ending birth years with the generation loosely being defined as people born around 1997 to 2012. Most members of Generation Z are the children of Generation X. As the first social generation to have grown up with access to the Internet and portable digital technology from a young age, members of Generation Z have been dubbed " digital natives" even if they are not necessarily digitally literate and may struggle in a digital workplace. Moreover, the negative effects of screen time are most pronounced in adolescents, as compared to younger children. Sexting became popular during Gen Z's adolescent years, although the long-term psychological effects are not yet fully understood. Generation Z has been described as "better behaved an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Millennials
Millennials, also known as Generation Y or Gen Y, are the demographic cohort following Generation X and preceding Generation Z. Researchers and popular media use the early 1980s as starting birth years and the mid-1990s to early 2000s as ending birth years, with the generation typically being defined as people born from 1981 to 1996. Most millennials are the children of Baby Boomers. In turn, millennials are often the parents of Generation Alpha. As the first generation to grow up with the Internet, millennials have been described as the first global generation. The generation is generally marked by elevated usage of and familiarity with the Internet, mobile devices, social media, and technology in general. The term " digital natives", which is now also applied to successive generations, was originally coined to describe this generation. Between the 1990s and 2010s, people from developing countries became increasingly well-educated, a factor that boosted economic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lipstick Effect
The lipstick effect is the hypothesis that when facing an economic crisis, consumers will be more willing to buy less costly luxury goods. The concept was publicized in 2008 when Leonard Lauder said that he noted his company's sales of lipstick rose after the 2001 terrorist attacks. The lipstick index is an indicator derived from this hypothetical effect and first was used to describe increased sales of cosmetics during the early 2000s recession. Analysis and subsequent recessions have provided evidence controverting Lauder's claims, though related indices have been proposed for other cosmetics, including nail polish and mascara. Description The lipstick effect theory contends that consumers will be more willing to buy less costly luxury goods when they are facing an economic crisis. Instead of buying expensive purses and fur coats, for example, people will buy expensive cosmetics, such as high-end brands of lipstick. The underlying assumption is that a certain portion of consume ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Luxury Goods
In economics, a luxury good (or upmarket good) is a good (economics), good for which demand (economics), demand increases more than what is proportional as income rises, so that expenditures on the good become a more significant proportion of overall spending. Luxury goods are in contrast to necessity goods, where demand increases proportionally less than income. ''Luxury goods'' is often used synonymously with superior goods. Definition and etymology The word "luxury" derives from the Latin verb ''luxor'' meaning to overextend or strain. From this, the noun ''luxuria'' and verb ''luxurio'' developed, "indicating immoderate growth, swelling, ... in persons and animals, willful or unruly behavior, disregard for moral restraints, and licensciousness", and the term has had negative connotations for most of its long history. One definition in the OED is a "thing desirable but not necessary". A luxury good can be identified by comparing the demand for the good at one point in time agai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quiet Luxury
Quiet luxury is a lifestyle characterized by understated elegance and refined consumption, emphasizing exclusivity and discerning taste without overt displays of wealth. Other terms related to the concept include stealth wealth, old money aesthetic, or silent luxury. Definition The quiet luxury aesthetic focuses on subtle sophistication through the use of muted colours and quality materials, and an emphasis on craftsmanship and timeless design, rather than flashy logos or ostentatious branding. Although the concepts of quiet luxury and stealth wealth have been equated, there may be differences in usage. While stealth wealth connotes hiding wealth, quiet luxury connotes subtly signalling wealth. Quiet luxury has also been likened to minimalism, although more elevated and riskier, and normcore, but more polished. A related concept is " affordable affluence", where the average consumer purchases goods or services that are perceived as exclusive, yet are still affordable. Whil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wealth
Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word , which is from an Indo-European word stem. The modern concept of wealth is of significance in all areas of economics, and clearly so for growth economics and development economics, yet the meaning of wealth is context-dependent. A person possessing a substantial net worth is known as ''wealthy''. Net worth is defined as the current value of one's assets less liabilities (excluding the principal in trust accounts). At the most general level, economists may define wealth as "the total of anything of value" that captures both the subjective nature of the idea and the idea that it is not a fixed or static concept. Various definitions and concepts of wealth have been asserted by various people in different contexts.Denis "Authentic Development: Is it Sustaina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
