Discover the meaning of the latest trends in the luxury industry with this resource from leading voices in the field The thoroughly revised Second Edition of The Road to Luxury: The New Frontiers in Luxury Brand Management delivers a comprehensive overview of the foundations of, and new developments in, luxury brands. The book discusses a new wave of mergers and acquisitions, the rise of Gucci, the growth of Balenciaga, a variety of new collaborations between different companies, a growing support for sustainability, and the COVID-19 pandemic. Readers will also benefit from the inclusion of: *…mehr
Discover the meaning of the latest trends in the luxury industry with this resource from leading voices in the field The thoroughly revised Second Edition of The Road to Luxury: The New Frontiers in Luxury Brand Management delivers a comprehensive overview of the foundations of, and new developments in, luxury brands. The book discusses a new wave of mergers and acquisitions, the rise of Gucci, the growth of Balenciaga, a variety of new collaborations between different companies, a growing support for sustainability, and the COVID-19 pandemic. Readers will also benefit from the inclusion of: * An insightful analysis of the impact and meaning of the COVID-19 for the luxury industry, particularly for market growth in China * The creation of savoir faire and business plan competitions in the luxury industry * LVMH's sponsoring of Viva Technology Perfect for students in MBA programs or taking degrees or courses in Luxury Brand Management, The Road to Luxury will also earn a place in the libraries of executives and managers in the luxury business, marketing, branding, and advertising professionals and companies, and entrepreneurs interested in the workings of the luxury industry.Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.
ASHOK SOM is Professor of the Management Department at ESSEC Business School. He is one of the pioneering thought leaders in designing organizations and an expert in global strategy. He is author of more than 110 cases, articles and books. He mentors start-ups and holds a PhD in Business Administration from the Indian Institute of Management in Ahmedabad, India. CHRISTIAN BLANCKAERT is Senior Advisor of EPI group, Eurazeo, Vilebrequin and Furla. He is a board member of the Yves Rocher Group. He has previously served as Chairman and CEO of Hermès Sellier and Executive Vice President of Hermès International.
Inhaltsangabe
Acknowledgments xi About the Authors xv Prologue xvii Part I: Understanding the Luxury Business 1 Chapter 1: Introduction- Definition and Crisis of Luxury 2 Issues of Defining Luxury 3 Crisis 5 The Luxury Industry 7 Reaction to the Crisis of Global Markets 9 The Effect of a Crisis on the Luxury Industry 17 Strategic Response to Crisis 19 Conclusion 25 Chapter 2: Evolution of the Global Luxury Market 27 Evolution 30 How Has It Changed? 36 Luxury Industry Trends 39 Conclusion 48 Chapter 3: Who's Who of Luxury 49 The Consumers 50 The Actors 52 Conclusion 94 Chapter 4: Branding 97 Market Saturation 98 Luxury Marketing: Highly Creative and Selective 101 The Nine Ps of Luxury Brand Marketing for the Nomad of Tomorrow 111 Discussion 134 Conclusion 134 Chapter 5: Brand Identity, Ethos, Clients 137 Brand Identity 138 Ethos 144 Clients 149 Discussion 154 Pricing of Luxury Goods 155 Conclusion 160 Part II: Luxury Management and Markets 161 Chapter 6: Family- Run Houses, Corporatization, and New Entrants 162 What Is a Family- Run Business? 165 Family- Run Business During a Crisis 183 Family- Run Businesses of the Future: Corporatization 184 Changes During the Transition from a Family- Run Business Model to That of a Corporation 190 Entrepreneurs and New Entrants into Existing Markets 194 Trends and Discussion 198 Conclusion 202 Chapter 7: Management Styles in the Luxury Industry 203 Path Dependency and Its Influence on Management Styles 205 Managing Paradoxes 210 Examples of Styles 218 Analysis 237 Conclusion 240 Chapter 8: Skills 244 Craftsmanship Through History 248 Entrepreneurial Designers 253 The Sales Team 253 Professional Managers 257 Perspective of the Conglomerates 259 Managing Talent 262 Conclusion 275 Chapter 9: Managing Operations and Supply Chain in the Luxury Business 279 The Challenge 282 The Global and the Local Supply Chain 285 Customer Relationship Management and Customer Experience 295 Conclusion 300 Chapter 10: Services: The Point of Sale 304 Issues at Point of Sale 307 The Customer Experience Dimension 311 The Service Dimension 316 The Phygital Dimension 319 Conclusion 327 Part III: Contemporary Issues and the New Frontiers 331 Chapter 11: Digitalization of Retail- E- commerce, Platforms, and Omnichannel 332 Introduction 332 Evolution of Distribution and Retailing 335 Conclusion 381 Chapter 12: Sustainability, Circularity, and the New Era of Luxury 384 Introduction 384 Definitional Issue and "the Right Strategy" 385 Social, Environmental, and Economic Challenges 387 The Social Challenge 388 The Environmental Challenge 389 The Economic Challenge 394 The Three Challenges 395 Forces Shaping the Sustainability Model for Luxury Business 396 Sustainable Business Model Best Practice for the Luxury Business 410 Conclusion 416 Chapter 13: New Markets and the Future 419 A Consolidated Industry 420 The Frontier Markets 421 The Pandemic Aftermath 433 The Future 440 The New Frontier 443 Chapter 14: Epilogue: How to Create a Luxury Brand 449 Case Studies on Luxury Entrepreneurship 451 Revisiting the 9Ps as the Essentials of Building a Luxury Brand 465 Expanding into International Markets as a Way of Growth for Emerging Brands in Frontier Markets 471 Research Design, Methodology, and Data Collection 475 Index 481
Acknowledgments xi About the Authors xv Prologue xvii Part I: Understanding the Luxury Business 1 Chapter 1: Introduction- Definition and Crisis of Luxury 2 Issues of Defining Luxury 3 Crisis 5 The Luxury Industry 7 Reaction to the Crisis of Global Markets 9 The Effect of a Crisis on the Luxury Industry 17 Strategic Response to Crisis 19 Conclusion 25 Chapter 2: Evolution of the Global Luxury Market 27 Evolution 30 How Has It Changed? 36 Luxury Industry Trends 39 Conclusion 48 Chapter 3: Who's Who of Luxury 49 The Consumers 50 The Actors 52 Conclusion 94 Chapter 4: Branding 97 Market Saturation 98 Luxury Marketing: Highly Creative and Selective 101 The Nine Ps of Luxury Brand Marketing for the Nomad of Tomorrow 111 Discussion 134 Conclusion 134 Chapter 5: Brand Identity, Ethos, Clients 137 Brand Identity 138 Ethos 144 Clients 149 Discussion 154 Pricing of Luxury Goods 155 Conclusion 160 Part II: Luxury Management and Markets 161 Chapter 6: Family- Run Houses, Corporatization, and New Entrants 162 What Is a Family- Run Business? 165 Family- Run Business During a Crisis 183 Family- Run Businesses of the Future: Corporatization 184 Changes During the Transition from a Family- Run Business Model to That of a Corporation 190 Entrepreneurs and New Entrants into Existing Markets 194 Trends and Discussion 198 Conclusion 202 Chapter 7: Management Styles in the Luxury Industry 203 Path Dependency and Its Influence on Management Styles 205 Managing Paradoxes 210 Examples of Styles 218 Analysis 237 Conclusion 240 Chapter 8: Skills 244 Craftsmanship Through History 248 Entrepreneurial Designers 253 The Sales Team 253 Professional Managers 257 Perspective of the Conglomerates 259 Managing Talent 262 Conclusion 275 Chapter 9: Managing Operations and Supply Chain in the Luxury Business 279 The Challenge 282 The Global and the Local Supply Chain 285 Customer Relationship Management and Customer Experience 295 Conclusion 300 Chapter 10: Services: The Point of Sale 304 Issues at Point of Sale 307 The Customer Experience Dimension 311 The Service Dimension 316 The Phygital Dimension 319 Conclusion 327 Part III: Contemporary Issues and the New Frontiers 331 Chapter 11: Digitalization of Retail- E- commerce, Platforms, and Omnichannel 332 Introduction 332 Evolution of Distribution and Retailing 335 Conclusion 381 Chapter 12: Sustainability, Circularity, and the New Era of Luxury 384 Introduction 384 Definitional Issue and "the Right Strategy" 385 Social, Environmental, and Economic Challenges 387 The Social Challenge 388 The Environmental Challenge 389 The Economic Challenge 394 The Three Challenges 395 Forces Shaping the Sustainability Model for Luxury Business 396 Sustainable Business Model Best Practice for the Luxury Business 410 Conclusion 416 Chapter 13: New Markets and the Future 419 A Consolidated Industry 420 The Frontier Markets 421 The Pandemic Aftermath 433 The Future 440 The New Frontier 443 Chapter 14: Epilogue: How to Create a Luxury Brand 449 Case Studies on Luxury Entrepreneurship 451 Revisiting the 9Ps as the Essentials of Building a Luxury Brand 465 Expanding into International Markets as a Way of Growth for Emerging Brands in Frontier Markets 471 Research Design, Methodology, and Data Collection 475 Index 481
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