of prestige, however in terms of price they are closer to middle range brands. Established brands command a premium at 3.1 times more expensive than new luxury brands (masstige positioning), and new luxury brands only sold for 2.2 times more than middle range brands. In terms of perceived prestige, the ratio of traditional luxury brands and new luxury brands was 1.14, while the ratio of new luxury brands and middle-range brands was 1.74. Those brands that employed masstige positioning strategy effectively differentiated themselves from middle range brands in terms of perceived prestige, and yet maintained a reasonable price premium to target middle range customers.