Luxury Strategy in Action

Written by experts in Luxury and Fashion Management at SKEMA Business School this exciting new book offers a new perspective that challenges the established rules of the luxury and fashion industry. The authors and contributors examine the evolution of luxury strategy and how the luxury industry is being redefined in the twenty-first century.

JONAS HOFFMANN holds a Doctorate in Marketing from the University of Grenoble, France. He is currently Associate Professor of Marketing at SKEMA Business School (worldwide). He has written several articles about marketing, innovation and the luxury industry.
IVAN COSTE-MANIÈRE holds a PhD in Chemistry. He has an extensive experience in the luxury industry; he has created 8 companies in the fragrance, watches and marketing sector. He is currently Associate Professor of Marketing at SKEMA Business School and he is the Director of the Master of Science in Luxury and Fashion Management.

List of Figures and Charts	p. x
List of Tables	p. xi
Notes on Contributors	p. xii
Introductio	p. 1
The Evolution Of The Luxury Market: Stairway To Heaven?	p. 5
Introduction	p. 5
The Luxury Industry 1990-2000: Starting The Chance	p. 5
The Creation Of Large Groups	p. 6
The Shift From A Home-Made Logic To An Industrial Logic	p. 8
The Importance Of Marketing And The Concept Of Diversification	p. 9
New Markets, New Opportunities: The Internaionalztion Of The Luxury Industry	p. 10
The Luxury Industry 2000-2010: Global Luxury Activities	p. 11
Luxury According To Incomes, Aces Or Genders	p. 13
The 2010s: Emerging Countries Take The Lead	p. 15
Brazil	p. 15
Russia	p. 16
China	p. 17
India	p. 17
From Here To Eternity	p. 20
Acknowledgment	p. 21
Luxury Business: Multinational Organizations And Global Specializations	p. 22
Introcution To The Organizational Complexity Of Luxury Business	p. 22
A Business Made Up Exclusively Of Human Expertise	p. 23
Boosting Specialized Niches	p. 25
How To Spot The Complexity	p. 29
The Ultimate Stage Of Complexity - E-Selling, E-Shopping And Luxury 2.0	p. 30
Appendix: The Washington Convention - Cites	p. 35
Finance Survival Guide: Value Creation And Pina Coladas	p. 37
Introduction (Or Why Businesses Exist)	p. 37
The Basis Of Financial Statements (Or How Jack Got Into Business)	p. 38
How To Think Like An Economist (Or Only What Is Marginal Really Matters)	p. 46
Discounted Cash Flows (Or It Is All About Managing Risk)	p. 50
The Pier Framework Of Luxury Innovation	p. 57
Introduction	p. 57
Framework Of Luxury Innovation: Path	p. 58
Framework Of Luxury Innovation: Insight	p. 61
Framework Of Luxury Innovation: Execution Excellence	p. 66
Framework Of Luxury Innovation: Rareness Of Experience	p. 68
What Is Next In Luxury Innovation?	p. 70
Conclusion	p. 73
Acknowledgments	p. 73
Retailing In The Luxury Industry	p. 74
Introduction	p. 74
Globalization, Democratization And Internet: Challenges And Opportunities In Today's Retailing	p. 75
Luxury Retail Design	p. 77
Offline Boutique Design	p. 78
Case Study 5.3A	p. 81
Online Boutique Design	p. 83
The Watch Avenue	p. 85
Distribution Formats	p. 88
Offline Distribution Formats	p. 88
Pisa Orologeria	p. 91
Online Distribution Formats	p. 92
Faberge	p. 95
Commercial Policies In Luxury Retailing	p. 97
The Importance Of The Human Factor In Luxury Retailing	p. 98
Assisting The Client Throughout The Purchase Act	p. 99
The Boutique Manager	p. 102
The Importance Of The Human Factor In Luxury E-Retailing	p. 103
Adapting To Times; New Luxe And New Clients According To The Foundation De La Haute Horlogerie (Interview)	p. 104
The Watch@Tablet“	p. 106
Internet, Social Media And Luxury Strategy	p. 108
Introduction	p. 108
Defining A Web Strategy Is Good; Envisioning An Integrated Strategy Is Better	p. 109
Developing The Right Web Marketing Approach	p. 109
The Orient-Express Group	p. 113
The E-Marketing Mix: Place, Product, Price, Promotion	p. 114
Taking Web Strategy To New Challenges	p. 117
Optimizing Existing Assets And Developing New Ones	p. 117
Boucheron	p. 120
Dealing With Increasing Interaction From Web Audience	p. 120
Conclusions	p. 123
Branding Principles In The Luxury Industry	p. 125
Introduction	p. 125
Approaches To Luxury Brand Building	p. 126
The Luxury Fashion Brand-Building Process	p. 128
Brand Concept	p. 128
Brand Identity	p. 129
Brand Awareness	p. 130
Brand Positioning	p. 131
Brand Loyalty, Brand Equity And Brand Value	p. 132
The Key Characteristics Of A Luxury Brand	p. 133
Clear Brand Identity	p. 135
Marketing Communications	p. 136
Product Integrity	p. 137
Brand Signature	p. 138
Premium Prices	p. 139
Exclusivity	p. 140
Heritage	p. 140
Environment And Service	p. 141
Culture	p. 142
Conclusion	p. 143
Brand Extensions In The Luxury Industry	p. 144
Introduction	p. 144
What Does Brand Extension Stand For?	p. 145
Luxury Brand Extensions	p. 146
Downward Brand Extension Enhancing The Parent Luxury Brand - The Case Of Rolls-Royce	p. 147
From Luxury To Premium - The Case Of Mercedes-Benz	p. 150
Diversification Of The Brand - The Case Of Giorgio Armani	p. 151
Luxury Brand Extensions With In Collaboration With A Non-Luxury Brand - The Case Of Jimmy Choo	p. 155
Luxury Brand Extensions Into Children's Wear Market	p. 157
Conclusion	p. 159
Sustainable Development In The Luxury Industry: Beyond The Apparent Oxymoron	p. 160
Introduction	p. 160
Sustainable Development: Fust A Matter Of Common Sense	p. 161
The Sustainable Luxury Consumer	p. 161
Welcome To The World Of Rare Resources	p. 164
Sustainable Development, A Must In Terms Of Reputation Management	p. 165
Creating Value Through Sustainable Development	p. 168
Revisiting The Strategy In The Light Of Sustainable Development	p. 168
Revisiting Products, Services And Processes For More Eco-Efficiency	p. 170
Life Cycle Analysis And Eco-Design	p. 171
Imitate The Nature: A New Mindset To Innovate	p. 173
Sustainable Service Systems To Decouple Wealth Generation From Resources And Energy Use	p. 1 76
Deliver Social Added Value	p. 178
Conclusion	p. 180
Notes	p. 182
Index	p. 202
Table of Contents provided by Ingram. All Rights Reserved.

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