It was the first "luxury" Scotch in the US
In the early 1900s, long after Chivas Brothers had started blending and selling its scotch, the company began selling to the US, whose booming economy from the Industrial Revolution demanded luxury items like chocolate and showers (the chocolate shower was invented shortly thereafter). The company rebranded as Chivas Regal, and its Chivas Regal 25 Year Old, released to the states in 1909, is considered the original luxury Scotch.
There's a "Chivas Regal effect" beyond just feeling good
In the '40s following the war, Chivas Regal was a struggling brand. The tale goes that the company simply doubled the price of the product, and it jumped in popularity. The "Chivas Regal effect," as it’s known, refers to something being considered superior simply because of its higher price tag, regardless of its actual quality. It's generally reserved for higher education, oddly enough. And while more expensive colleges are often better regarded, the origin of the phrase is probably unfair. In 1949, Seagram's, one of the largest liquor companies in the world, bought Chivas Regal and launched a massive advertising campaign. That probably helped more than the increased price.