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The Luxury Strategy, 2nd Edition by Vincent Bastien, Jean-Noël Kapferer

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06

Developing brand equity

Can we imagine luxury without brands? The brand is an integral part of the luxury product and experience, the name which concentrates the dream. Furthermore: in luxury, the brand comes first. Most often, a customer chooses first a brand, and then a product of the brand. Let’s say you decide to buy a gift for somebody. First you choose the brand – Hermès for instance – then you enter a Hermès shop – and then you choose the product itself. And this is the reason why, for the last 30 years or so, more and more brands decided to copy the Louis Vuitton’s model of ‘I sell only in my own shops’. Finally the pricing power is in the brand.

There is no luxury without brands

Is there luxury without brands? If not, why? Historically, ...

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