The global luxury industry stands at a crucial inflection point where heritage and hedonism intersect with responsibility. Previously defined by exclusivity and craftsmanship, luxury now needs to connect  itself with the values of sustainability and the transparency of the digital age. This study looks at how research over the past decade has examined this change, where value, virtue, and visibility come together to redefine luxury consumption in the contemporary times. Using 234 Scopus-indexed publications screened between 2012 and 2025, which were narrowed down to a final set of 51 research papers, this study employs bibliometric mapping and thematic analysis to explore the intellectual development of ethics, sustainability, and digitalization within the luxury sector. The analysis shows five related clusters that represent the field’s broad ideas: (1) technology-driven digital ecosystems and the rise of virtual luxury; (2) ethical visibility and how the corporates strategically communicate their responsibility; (3) consumer psychology, moral identity, and behavioural intention; (4) authenticity and the growth of the masstige phenomenon; and (5) circularity and sustainable change. The findings indicate that while the discussion around sustainable luxury is growing, it is still conceptually disjointed, reflecting the industry’s ongoing balancing act between aspiration and accountability. The digital revolution, from, metaverse retail and influencer-driven storytelling, has not only changed marketing methods but has also transformed the moral landscape of desire. Younger consumers, influenced by awareness and environmental consciousness, look for purpose alongside prestige, viewing status as a representation of ethics instead of excess. By mapping these trends, this study provides an understanding of how ethics, aesthetics, and algorithms interact to shape the future of luxury...