What exactly is Luxury Vinyl flooring? Luxury vinyl, often referred to as LVT, is a durable and budget-friendly flooring option with similarities to laminate flooring. Like some styles of laminate flooring, luxury vinyl flooring can look unbelievably like natural wood and natural stone. However, LVT is made of one hundred percent plastic. For that reason, it has a better ability to withstand moisture and is extremely resilient, making it an excellent option for kitchens, baths and basements. Best of all, LVT is quick and easy to install.