Luxury: a quality product with superior performance, craftsmanship, exclusivity, innovation, sense of place & time, sophistication & design aesthetic, creative expression, relevance, heritage, and responsibility
Designer: Clothing, luxury car manufacturers, and other personal accessories that are sold under an often prestigious brand usually named after or created by a designer.
Premium: operating with a close to one ratio of functionality and price to provide the best features and quality at a given price point.