What the new rules of luxury can teach every brand

As consumers become more discerning and more skeptical of excess, the definition of luxury is being rewritten. Today, what feels truly valuable is often harder to manufacture: craftsmanship, radical sustainability, and the kind of experience that turns an everyday object into something coveted. From giving preowned fashion a new life to transforming humble ingredients into high-design rituals to rethinking the materials luxury products are made from, these leaders are redefining luxury—and in th...