Luxury is no longer just about wealth — it’s become a symbol of perceived success, often fueled by debt rather than financial stability. Market expert Abhijit Chokshi recently explained how luxury has evolved from a rare indulgence of the ultra-wealthy to a status symbol sought by the aspirational middle class. In a post on X, he revealed that 75% of luxury spending now comes from the middle class — a dramatic shift from the 1990s, when high-end brands like Louis Vuitton catered only to elite clientele.
According to Chokshi, this trend isn't because luxury has become more affordable. Instead, the middle class has become more willing to look rich, often at the expense of their financial health. He cited how a Louis Vuitton bag that cost ₹40,000 in 1995 was once reserved for “old money.” Today, similar bags are being sold for ₹2.8 lakh — and are being bought by 30-year-olds on EMIs.
The rise of social media, influencer culture, and smart branding has transformed luxury into a performance. It’s less about timeless craftsmanship and more about public display — showing off on Instagram, fitting into aspirational circles, and feeling validated by likes and followers. As Chokshi puts it, luxury has become a “trap disguised as a flex.”
The deeper concern is that this illusion of affluence comes with a price: growing personal debt and shrinking long-term wealth. Buying luxury items on credit drains savings, limits investments, and creates financial stress — all for the sake of temporary social approval.
Chokshi’s warning is clear: before chasing a logo or a label, ask yourself if it’s really for personal joy — or just another way to keep up appearances.
