Luxury brands are priced significantly higher than typical brands in their categories. Luxury brands are unique in the sense that these brands indicate the social status and aspirations of individuals. Such brands are associated with the prestige of individuals (Lo & Yeung, 2020). They are less about prices and more about quality and who a customer is or wanted to be. However, the outlook and aspirations of individuals have changed after the recession of 2008-2009. Customers have become conscious about value received from offerings more than ever. They have also become thrifty. They look for the highest value at optimum prices. Luxury for customers is more about style and substance than about anything else. This is combined with personal pleasure and self-expression (Tochterman & Dauriz, 2012).