Luminaire’s Sukeena Rao: ‘VICs are the driving force of the luxury business’

VICs, or “very important customers,” is shorthand in the luxury market for a growing subset of high-end, wealthy shoppers that are “very low key, very off the radar [and] not known to the public,” Rao told Glossy. It’s part of what she calls a shifting market where, 15-20 years ago, the luxury shopper was mostly well-known celebrities or very wealthy public figures. Whereas now, luxury shopping has become more curated and discreet. To wit: The internet calls this “quiet luxury.” 

“It’s not always about wearing [a luxury piece] on a red carpet or being shown to the public,” Rao said. “It’s done in a much more stealth way.” 

This changing luxury customer also has changing needs. Whereas a high-profile individual or celebrity may not need an introduction to a luxury brand or referral to an in-demand makeup artist or hairstylist, today’s VIC is looking for access to top lifestyle, beauty, wellness, fitness and health brands and experts, as well as the fashion, jewelry and accessory markets. 

On today’s episode of the Glossy Beauty Podcast, Rao shares the ins and outs of this growing demographic, which she reaches through her London-based personal shopping firm, Luminaire. 

“We have a waitlist right now. … [We’re] very selective about new clients, because we never want to under-deliver,” she says. “We do keep people waiting until we really have the capacity to look after them.” 

Rao launched Luminaire in 2022 with co-founder Harriet Quick, a former fashion features director at British Vogue. While billed as personal shopping, the company is more nuanced than that. For around $57,307 (£45,000) per year, clients receive high-touch appointments with Luminaire’s stylists, personalized mood boards, unlimited sourcing and gift procurement, as well as brokerage of just about anything one can desire, from apartments to cars. 

Meanwhile, entry-level membership starts at $6,367 (£5,000) per year and includes recommendations, mood boards, unlimited sourcing, fashion edits and basic access to luxury wardrobe and gift procurement and planning. 

However, Rao told Glossy that beauty, wellness and health products and services are the fastest-growing requests from clients, whether that is a haircut with a celeb stylist, an appointment with a holistic doctor, a masterclass with a renowned makeup artist or a private shopping experience. “If you really drill down on the data, you will see that, for us, beauty and wellness — alongside jewelry, which is a hugely growing category — is leading,” Rao said. 

Rao discusses these topics, as well as her predictions for the future of the luxury industry, in today’s episode. 

Excerpts from the conversation, below, have been lightly edited for clarity. 

On who’s buying luxury goods in 2024

“VICs [very important customers] are the driving force of the luxury business. They count for a large percentage of global sales with pretty much every brand. I think the shift has probably been that, historically, [the luxury shopper] would have either been a very well-known celebrity, 15-20 years ago, or a high net worth [individual]. I think that has completely done a 360 where the most interesting VIC client [today] is very low-key, very off the radar, not known to the public. …

Being a celebrity doesn’t actually pay as much money as people in various industries, from tech to media, so many different types of people are now interested in buying luxury goods, and it is almost done in a more personal way. So it’s not always about wearing it on a red carpet or being shown to the public. It’s done in a much more stealth way. … We see a lot of people looking for guidance and access to exclusivity. … There’s just a real shift where VICs are actually looking for advice in beauty, travel, wellness escapes and well-being.”

The role of beauty and wellness in reaching the luxury shopper

“If you really drill down on the data, you would see that, for us, beauty and wellness — alongside jewelry, which is a hugely growing category — is leading. I noticed [this shift] at Paris Fashion Week and at London [Fashion Week]. Some of the leading events and sponsors where we went [were beauty or wellness].” 

On taking new clients

“We do keep people waiting until we really have the capacity to look after them, because everything from our engagement process to onboarding and the way we get under the skin of the family, or the individual, is so detailed and so nuanced that we really take the time, and we take it seriously. It’s not about just one aspect. It’s about the full 360 of their life, their partners, their kids, the locations they live in and the brands they already buy. There are so many people we meet who actually don’t like the things they already own, which is so sad. Part of our messaging is “buy less, buy better.” It’s not about just eternal consumption. … It’s so much smarter to buy carefully.”

The future of the luxury industry

“I think there’s going to be a lot of changes in the industry. The way we work — with attention to detail and really bringing that full 360 to the client — a lot of brands are starting to adapt to that already. The focus is not necessarily about the product, but about the experience. It’s just getting deeper and deeper, and the emotional connections are getting deeper and deeper. So it may actually feel, in 10 years time, like it did years ago, when there were hardly any brands — because people are so focused; they’re so dedicated to shopping with fewer brands and really being loyal. The brands are working hard for it and probably deserve that from their clients. I think people will continue on this emotional, mental connection, but to what level? Who knows. You know, if there’s one thing that’s true, it’s that the luxury industry never sleeps for long.”