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In the following, the goal is thus to provide a deeper understanding of both the etymological complexity and historic ambivalence of the concept of luxury, to discuss dominant approaches to defining the term of the luxury brand and to give a succinct overview on the latter's functions and effects on the consumer.
Etymologically, the word luxury derives from the Latin word 'lux' and can be translated as light, luminosity or luminance, thereby referring to the outer radiance of luxury objects.
(1) Etymological perspective on art: Etymologically, the word art derives from the Latin term 'ars', the latter being equivalent to the Greek word 'techne', and can be translated as skill, craft or craftsmanship.
Taking the etymological meaning of art as a starting point for the discussion on its different possible interpretations, there is no distinction between the artist and the artisan.
Yet, the etymological perspective on art has no longer much relevance today.
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