Luxury Brand Management: A World of Privilege, 2nd Edition
What defines a luxury brand? Traditional wisdom suggests that it's one that's selective and exclusive—to such a degree that only one brand can exist within each retail category (automobiles, fragrances, cosmetics, etc.). But this definition is inherently restrictive, failing to take into account the way in which luxury brands today are increasingly identified as such by their placement in stores and how consumers perceive them. This revised and updated edition of Luxury Brand Management, the first comprehensive book on luxury brand management, looks at the world of branding today.
Written by two renowned insiders, the book builds on this new, broader definition of luxury and examines more than 450 internationally known brands from a wide range of industries. Packed with new information covering the financial crisis's impact on luxury brands, and looking towards a new period of growth, the book reconciles management, marketing, and creation with real-life examples and management tools that the authors have successfully used in their professional careers.
- Includes dedicated chapters focusing on each of the main functions of a luxury brand, including brand creation, the complexity of managing brand identity, the convergence of arts and brands, and much more
- Addresses the practical functions that can make or break bottom lines and affect brand perception, such as distribution, retailing, logistics, and licensing
- Focuses on brand life-cycle, brand identity, and licensing issues
A compelling and comprehensive examination of the different dimensions of luxury management in various sectors, this new edition of the classic text on brand management is essential reading for anyone working with or interested in making the most of a luxury brand in the post-recession world.
CHAPTER 1 The Concept of Luxury 1
CHAPTER 2 Specificities of the Luxury Industry 27
CHAPTER 3 Major Luxury Sectors 51
CHAPTER 4 The Power of the Luxury Brand 91
CHAPTER 5 The Luxury Client 117
CHAPTER 6 Brand Analytical Tools 139
CHAPTER 7 Managing Creation 189
CHAPTER 8 Communication 215
CHAPTER 9 International Distribution 241
CHAPTER 10 Retailing 261
CHAPTER 11 Licensing Strategy 285
MICHEL CHEVALIER is an expert in luxury brand management and retailing. A consultant with EIM in Paris and a visiting professor of luxury marketing and retailing at HEC and Paris-Dauphine University in Paris, he is also the coauthor of Luxury Retail Management and Luxury China, both published by Wiley.
GÉRALD MAZZALOVO is Managing Partner at Aravis S.A., a private equity firm active in luxury brands. He is also visiting Professor at Instituto de Empresa (Madrid), Université Paris-Dauphine, and Université Lumière in Lyon. A former consultant at Arthur Andersen, he has held the positions of president or CEO at luxury companies such as Ferragamo, Loewe, Bally, and Clergerie, and has consulted many multinational firms such as Pininfarina on strategic brand management. He is the author of the book Brand Aesthetics and coauthor of the book Pro Logo.