After the boom in luxury brands’ consumption, the consumers’ motivation to buy these brands has gained the interest of researchers in the marketing field. We organized the present study using the grounded theory approach to obtain insight into the motivations behind luxury consumption through interviews with 12 individuals. We used these data to propose a model of motivations behind luxury consumption, which constitutes three categories, i.e., relatedness (conformity of evolutionary psychology and the influence on formal social activities), competence (social status and confidence), and autonomy (others’ attitudes and opinions and uniqueness). Our findings could contribute to better understanding of the motivations behind luxury consumption and proposed the possible theoretical and managerial implications in the future.