What realy is a luxury brand? What is a luxury strategy?
The rapid growth of so-called luxury brands means they can now be found within almost every retail, manufacturing and service sector, whilst new terms qualifying luxury, such as "new luxury" "mass-luxury" and "luxury fashion" regularly appear. But if "luxury" is everywhere and if everything is luxury", then has the term itself lost its meaning?
The Luxury Strategy is the definitive work that sets the record straight on the essence of a luxury strategy. It puts an end to the prevailing conceptual and managerial confusion, and explains the fundamental differences between "premium", "fashion", and "luxury" strategies. Based on an analysis of the social functions of luxury, worldwide best practices (beyond the traditional sectors of luxury) and first-hand direct experience, it sets out the constraining and often paradoxical rules for success, such as turning marketing rules upside-down.
The Luxury Strategy provides the first rigorous blueprint for the effective management of luxury brands and companies at the highest level, including human resources and financial management. The first book on strategy, it rationalizes those business models that have achieved profitability whilst sustaining the luxury status of their brands. It unveils the original methods that were used to transform small family businesses such as Ferrari, Louis Vuitton, Cartier, Chanel, Armani, Gucci, and Ralph Lauren into profitable global brands.
The Luxury Strategy will help you to gain a thorough understanding of the unique rules for successful luxury brand management. But more than this, it describes how any organization, from any sector, can learn from luxury and differentiate itself in the long term, even in the business-to-business environment.
Table of Contents: Introduction : To be or ot to be luxury Part 1: Back to luxury fundamentals: In the beginning there was luxury The end of a confusion: premium is not luxury Anti-laws of marketing Facets of luxury today Part 2: Luxury brands need specific management: Customer attitudes vis-a-vis luxury Developing brand equity Luxury brand stretching Qualifying a product as luxury Pricing luxury Distribution and the internet dilemma Communicating luxury Financial and HR management of a luxury company Part 3: Strategic Perspectives:Luxury business models Entering luxury and leaving it Learning from luxury Conclusion: Luxury and sustainable development
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Jean-Noel Kapferer is a worldwide thought leader and expert on brand management. His latest best-setting book The New Strategic Brand Management (also published by Kogan Page) is the key reference work for top-level international MBAs. Professor at HEC Paris, the luxury research centre in Europe, he holds the Pernod-Ricard Chair on Prestige and Luxury Management. Also a consultant, he is a member of the board of major brands, and regularly gives executive seminars on luxury in the United States, China, Japan, Korea and India. He holds a PhD from Northwestern University (USA).
Vincent Bastien is one of the most experienced senior managers in the luxury business. For over 25 years, he has been CEO or MD of international companies, both in luxury including six years as MD of Louis Vuitton Malletier and three years as MD of the beauty division of Sanofi group (including Yves Saint Laurent, Nina Ricci, Yves Rocher, and Parfums Oscar de la Renta, Van Cleef & Arpels and Fendi) and in business-to-business industries (glass, printing). During the same period, he managed his own company in ready-to-wear clothing. He is now Affiliate Professor at HEC Paris, where he teaches Strategy in Luxury.
"[H]ighly recommended for any basic business collection" - Midwest Book Review
"[A]ctionable information and advice. If you market luxury products, or want to, The Luxury Strategy should be on your bookshelf." -- Roger Dooley, Neurosciencemarketing.com
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