When reviewing the colossal catalog of high-tech consumer products that Apple created over the years, the knee-jerk response to whether the firm is a luxury brand or a tech company seems obvious. Or is it?
However, with the hiring of Angela Ahrendt, the former CEO Burberry, to head Apple’s retail division, defining the company could be an enigmatic process. Luxury experts, according to NBC News, say that luxury today is defined more by performance and design than status. So, it is a deluxe brand that manufactures consumer electronics products.
Greg Furman, founder and chairman of The Luxury Council, leans toward luxury when discussing Apple with NBC News."I have always thought of Apple as a luxury brand. They have the hearts and minds of today's most affluent consumers."
…. Apple's luxury aura is especially strong among the newer wealthy. A study of 1,000 consumers with a median income of $200,000 by Dwell Strategy & Research found that Apple ranked first among the favorite brands. More traditional luxury brands followed further down the list: BMW, Porsche, Chanel and Ralph Lauren.