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Luxury Brand Management: A World of Privilege, 2nd Edition

Book Description

The definitive guide to managing a luxury brand, newly revised and updated

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.

Table of Contents

  1. Cover
  2. Contents
  3. Title
  4. Copyright
  5. Introduction
  6. Chapter 1: The Concept of Luxury
    1. A Problematic Definition
    2. Chronicle of a Semantic Evolution
    3. Classification of Existing Definitions
    4. Luxury Values
    5. True Luxury, Intermediate Luxury
    6. Luxury, Being and Appearing
    7. Five Sources of Legitimacy
    8. Conclusion
  7. Chapter 2: Specificities of the Luxury Industry
    1. What Is So Different About the Luxury Goods Industry?
    2. The Key to Success in Luxury Goods
    3. The Major Operators
  8. Chapter 3: Major Luxury Sectors
    1. Ready-to-Wear Activities
    2. Perfumes and Cosmetics
    3. Wines and Spirits
    4. The Watch and Jewelry Market
    5. The Leather Goods Market
    6. The World of Hotels and Hospitality
    7. Conclusion
  9. Chapter 4: The Power of the Luxury Brand
    1. The Value of a Brand
    2. The Characteristics of a Brand
    3. The Brand and Its Signs
    4. The Legal Aspects and the Defense of a Brand
  10. Chapter 5: The Luxury Client
    1. Who Are the Luxury Clients?
    2. The Excursionists
    3. The New Consumer
    4. Are Clients from Different Nationalities Similar?
    5. The RISC Study
  11. Chapter 6: Brand Analytical Tools
    1. Brand Life Cycle
    2. The Birth of a Brand
    3. Growth of a Brand
    4. Brand’s Maturity
    5. Decline, Relaunch, and Death
    6. Brand Identity
    7. A Still-Too-Unfamiliar Concept
    8. Other Analytical Models
    9. The Limits of the Concept of Identity: Strategic and Operational Implications
  12. Chapter 7: Managing Creation
    1. The Nature of Creative Activities
    2. Managing the Product
    3. Brand Aesthetics
    4. Brands and the Arts
  13. Chapter 8: Communication
    1. Obsolescence of the 4Ps
    2. Advertising
    3. PR, Events, Promotion, and the Internet
    4. The Place of the Product
    5. Company Behavior
    6. Actual Consumers
    7. What Is Good Communication?
  14. Chapter 9: International Distribution
    1. International Distribution Systems
    2. The Different Distribution Systems
    3. Price Structures
    4. The Advertising Budget and Advertising Policies
    5. The Special Case of Duty-Free Operations
    6. The Parallel Market: Reasons and Consequences
  15. Chapter 10: Retailing
    1. Background Analysis
    2. Retailing in the Luxury Field
    3. The Store as a Communication Tool
    4. The Retail Model versus the Wholesale Model
  16. Chapter 11: Licensing Strategy
    1. Brands Developed Exclusively Through License Deals
    2. Sectors in Which the Majority of Brands Use Licensing Deals
    3. Companies Specializing in License Contracts
    4. The Process of Development Under License
  17. Conclusion
    1. No Place in the Middle
    2. Bling-Bling Will Prosper
    3. The Strengthening of Custom Products
    4. The Extension of the Concept of the Luxury Experience
    5. The Century of Asian Luxury
  18. Index