Luxury Concepts Facts Markets

The Road to Luxury explores the fascinating history of luxury goods and explains the evolution of the burgeoning luxury marketplace, to offer a clear understanding of the dynamics of the luxury world. Citing current data and statistics on market trends, Ashok Som and Christian Blanckaert offer insight into the systems and operations, retail, distribution and e-commerce, emerging markets and emerging brands, as well as the different management styles throughout the luxury industry. Luxury brands have been carefully crafted through meticulous strategies in marketing and brand building, making their mark in the consumer's subconscious. These brands are defined by: brand strength, differentiation, exclusivity, innovation, product craftsmanship and precision, premium pricing, and high quality. The Road to Luxury examines the key strategies and success factors that are employed by the leading organizations in the luxury market. The authors also reveal the winning and losing tactics of many well-known players in the luxury industry adopted during and post recession. Filled with examples from household brands such as Louis Vuitton, Hermes, and Bottega Veneta to name a few, The Road to Luxury considers the skills and craftsmanship required to produce exquisite goods both in terms of economies of scale and economies of scope. To meet the needs of the ever expanding luxury marketplace it is necessary to find the special skill-sets required in craftsmen, who also possess an implicit understanding of the brand DNA; designers who understand and create innovations around the brand DNA; sales staff who translate the story of the brand to the diverse and growing consumer pool across different cultures, nations and continents; and managers who can run the business not as a small and…