This microreview summarizes, explains, and highlights endeavors in the field of multicomponent chemistry with a focus on luminophore development by this approach. Most of the fluorophores accessed by this concept are heterocyclic. The mild reaction conditions of the palladium‐, palladium–copper‐, and copper‐catalyzed processes open highly diversity‐oriented approaches to classical and also unusual luminophore classes in a straightforward and highly convergent fashion.