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More About This Title The Road to Luxury: The Evolution, Markets and Strategies of Luxury Brand Management
English
A thorough, comprehensive guide to the luxury goods industry for executives, entrepreneurs, and students interested to know about the luxury business
As key new luxury markets like Asia, Latin America and Africa continue to expand, The Road to Luxury: The Evolution, Markets and Strategies of Luxury Brand Management gives professionals interested in the industry a holistic understanding of luxury market dynamics around the world using stories, experiences, relevant data and statistics on current market trends. For investors, the book offers valuable insight on where the industry is headed. For industry insiders and executives, it presents valuable data with which to craft successful business strategies.
- The definitive insider's guide to the luxury sector by leading figures in the field
- Includes rigorous academic data, including information on the business attractiveness and appropriateness of various country markets
- Examines strategies and success factors of key players, and insight into the systems and operations, retail, distribution and e-commerce, emerging markets and emerging brands, as well as management styles
For professionals in the luxury industry, as well as those studying it or investing in it, The Road to Luxury presents a complete and information-packed resource covering virtually every aspect of this growing sector.
English
ASHOK SOM is Professor of Global Strategy in the Management Department at ESSEC Business School, Paris-Singapore. He is the founder of the India Research Center, was the Founding Associate Dean of the Global MBA program, and the founder of the Global Management Programs on Luxury and Retail Management (in partnership with Indian Institute of Management (IIM) Ahmedabad, India.
CHRISTIAN BLANCKAERT is the Chairman of Petit-Bateau. He is also the Senior Advisor of Eurazeo and a board member of Moncler and Champagne Piper-Heidseick. He has previously served as Executive Vice President of Hermes International from 1996 to 2009.
English
About the Authors xiii
Prologue: The Pink Bag 1
Chapter 1: Introduction: Definition and Crisis of Luxury 5
Issues of Defining Luxury 6
Crisis 8
The Luxury Industry 10
Reaction to the Crisis of Global Markets 12
Effect of Crisis on the Luxury Industry 18
Strategic Response to Crisis 20
Conclusion 25
Chapter 2: Evolution of the Global Luxury Market 29
Evolution 32
How Has It Changed? 38
Luxury Industry Trends 40
Conclusion 44
Chapter 3: Who’s Who of Luxury 47
The Consumers 48
The Actors 50
Conclusion 88
Chapter 4: Branding 89
Luxury Marketing: Highly Creative and Selective 92
Cobranding: Does It Enhance Branding or Selling? 107
Brand Extensions 109
Pricing 112
Storytelling: Culture, Event, and Communication 115
Digital Marketing 119
Discussion 129
Conclusion 130
Chapter 5: Brand Identity, Clients, and Ethos 133
Brand Identity 134
Ethos 140
Clients 144
Discussion 149
Conclusion 153
Chapter 6: Family Houses, Corporatization, and New Entrants 155
What Is a Family Business? 158
Family Business during Crisis 177
Family Businesses of the Future: Corporatization 178
Changes during Transition from Family Business to Corporation 182
Entrepreneurs and New Entrants 186
Trends and Discussion 190
Conclusion 193
Chapter 7: Management Styles in the Luxury Industry 195
Path Dependency: Management Styles 197
Managing Paradoxes 202
Examples of Styles 210
Analysis 227
Conclusion 230
Chapter 8: Skills 235
Historical Craftsmanship 238
Entrepreneurial Designers 240
The Sales Team 243
The Professional Managers 244
Skills Required 245
Managing Talent 248
Conclusion 261
Chapter 9: Services: The Point of Sale 265
Issues in Point-of-Sale 268
The Customer Dimension 269
The Service Dimension 277
Conclusion 280
Chapter 10: Systems and Operations in the Luxury Business 285
The Challenge 286
Global Supply Chain 290
Customer Relationship Management 295
Information Technology 301
Conclusion 302
Chapter 11: Retail, Distribution, and E-Commerce 307
Channels of Distribution 309
Travel Retail and Duty-Free Stores 324
Strategic Decisions in Geographic Expansion 328
Online Distribution and E-Commerce 331
Conclusion 335
Chapter 12: Intellectual Property Rights and Counterfeiting 337
Counterfeiting: Issues for Luxury Brands 340
The Issue of Legality 344
Is It an Emerging Market Phenomenon? 346
Effect on a Brand 347
Examples of Responses to Counterfeiting 350
What to Do to Prevent Counterfeiting? 353
Gray Market 362
Conclusion 364
Chapter 13: Emerging Markets and Emerging Market Luxury Brands 367
Brazil 369
Russia 381
India 386
China 395
Strategic Actions 404
Conclusion 409
Chapter 14: The Future and Questions to Ponder 411
Research Design, Methodology, and Data Collection 421
Bibliography 427
Index 433
