Is silk a luxury?

Could you kindly elaborate on the topic of whether silk qualifies as a luxury item? I'm particularly interested in understanding the factors that contribute to its categorization as such. Does its unique texture and durability justify its higher price tag? Or is it more about the cultural significance and historical value associated with silk? I'm also curious about how the availability and production processes of silk might influence its status as a luxury product. Would you be able to provide some insights into these matters? Thank you for your time and assistance in clarifying this matter.