The Wall Street Journal's glossy magazine, which is set to hit newsstands in the U.S. on Sept. 12 and Sept. 11 in Europe and Asia. "Luxury goods houses will have to rethink the way they appeal to us, the consumers, in order to survive…which ultimately means greater value, superior products and a better deal," writes Ms. Gaudoin in her cover story, "Changed State of Luxury." The magazine explores the recalibration of luxury focusing on diamonds, luxury cars, top-end real estate, accessories and travel. "Luxury is still a big business — $175 billion big — and all of us have contemplated abstinence in the past year, at least where purchasing is concerned," she added.

More on WSJ. Reports "Consumer is King" as Luxury Goods Houses Rethink Their Strategy in Order to Survive