Development of social media has influenced the activities of luxury brands recently. They can reach more audience on these platforms to build their reputation and communicate their values. However, protecting their brand from vulgarization and remaining exclusive, unique and rare presents a significant challenge. In this regard, the perception of consumers from these brands on social media is of high importance. Another issue is the participation of other actors, namely micro- influencers, celebrities, and average consumers in value co-creation process online. The present paper conducted an exploratory study based on 14 interviews to understand how consumers perceive the communication of luxury brands and other actors on social media. We identified 3 distinct groups in their perception of luxury and highlighted the differences between the sources of communication. Finally, managerial implications as well as research limitations and future avenues are provided.