"Today there are two categories of luxury. One is of displays of wealth, abundance, bling-bling, show-off; and the second is quality, refinement, discretion. We are in the second category, and the crisis has accelerated the switch from category one to category two. People have realised that the real sense of a luxury item is to please yourself discreetly. We see it in Russia, the Middle East, America and in China; the bling-bling is becoming less important. The object itself, its quality, its finish and its design are more important."