Everyone has examples of luxury brands in their head, those that exist today. The list, however, is not fixed. Some brands will die, but tomorrow new brands will be born, and in great numbers, whether in Europe or the United States, or in China, Korea, Japan, India or Russia, since we saw, in Chapter 1, the degree to which the luxury market is growing structurally in these countries and how it is progressively conquering all trades.
Here we will address the three key questions that the founders of new luxury brands should ask themselves:
- Why choose a luxury strategy?
- How do you manage development while maintaining a luxury strategy?
- And, finally, when, how and why should you exit luxury?