This qualitative study, involving 43 interviews with Chinese MZ-generation consumers explores perceived value according to the procurement modes and their impacts on brand loyalty. Pioneering in its examination, the research delves into perceived value associated with procurement modes, procurement modes targeted loyalty, and other-oriented loyalty for luxury goods. The findings reveal that the direct-to-consumer market, third-party market, and grey market are linked to experiential/hedonic value, symbolic/expressive value, and costs/sacrifices. Brand-targeted loyalty is associated with functional/instrumental value and costs/sacrifices. Individual-targeted loyalty is linked to symbolic/expressive value and experiential/hedonic value. Procurement modes targeted loyalty is influenced by experiential/hedonic value and costs/sacrifices. Other-oriented loyalty takes into consideration the symbolic/expressive value of the recipient.