Luxury has fractured into two distinct categories and the difference matters enormously for how you spend. The first is craftsmanship luxury — goods that justify their price through materials, construction, longevity, and a product experience that genuinely exceeds what’s available at lower price points. The second is status luxury — goods priced for the logo, made in the same factories as mid-market alternatives, sold at a premium because the brand has successfully convinced buyers that owning the item signals something about them.