What defines a “prestige” or “luxury” brand is often different to different people. To some, a $395 J. Crew dress would be considered a luxury, while to others, only a four-figure Dior or five-figure Cartier purchase would qualify. In recent years, the prominence of affordable or accessible luxury, typically associated with verticals like Beauty and Fragrance and brands like KORS Michael Kors, Kate Spade, Alice & Olivia, and Coach, has expanded luxury’s gray area. Despite our colloquial flexibility with the term, L2 Founder Scott Galloway asserts that the definition of a prestige brand still follows a traditional “algorithm” that includes but goes well beyond a steep price point.