From status symbol to personal value: What luxury means to Lithuanians today

Luxury is no longer a simple matter of a famous name or an instantly recognizable status symbol. Buyers increasingly want to know how an item was made, what sets it apart and whether it will remain relevant years from now.

That shift is visible in contemporary fashion and at this week’s Vilnius Fashion Week, whose partner is the jewelry house MARRY ME by Ribas. It also reflects a wider question facing the luxury industry: after years of rapid expansion and mass-market visibility, what are customers really paying for?

A 2025 McKinsey review said the growth of the sector and the mass appeal of some major brands had weakened the traditional promise of luxury, including exclusivity, creativity and craftsmanship. The review identified renewed investment in product quality and value as a major task for the industry.

McKinsey’s 2026 survey of more than 2,000 luxury buyers in the United States and China found that emotional connection with a brand had become one of the strongest factors shaping desirability. It ranked ahead of traditional attributes such as heritage, craftsmanship and exclusivity. Buyers were looking for brands that reflected their identities, values and aspirations, not only their social status.

Quality, however, has not lost its importance. In a 2025 BCG and Altagamma survey of more than 7,000 luxury consumers, 89% of top-tier customers named craftsmanship and product quality among the main sources of value. Jewelry makes the point clearly: a well-made gold or platinum piece with gemstones can be worn for decades and passed to another generation.

Major jewelry houses continue to emphasize that workmanship. Van Cleef & Arpels still uses its 1933 patented Mystery Set technique, mastered by only a few craftspeople because of its complexity. Boucheron’s most demanding high-jewelry pieces can require thousands of hours. The flexible rock-crystal ribbon from its 2024 The Power of Couture collection took about 2,600 hours to create.

The same preference for character is appearing in engagement rings. Vogue’s 2026 trend review describes a move away from uniform, easily replicated designs toward more individual choices. The classic round white diamond remains popular, while oval, marquise, pear and emerald cuts are gaining visibility, alongside more color.