The Luxury Strategy has established itself as the definitive work that sets the record straight on the essence of a luxury strategy. It puts an end to the prevailing conceptual and managerial confusion, and explains the fundamental differences between "premium", "fashion", and "luxury" strategies. Based on an analysis of the social functions of luxury, worldwide best practices (beyond the traditional sectors of luxury) and first hand direct experience, it sets out the constraining and often paradoxical rules for success, such as turning marketing rules upside down. The second, completely revised and updated edition of this classic text explores the diversity of meanings of "luxury" across different markets as well as the impact of social networks and digital developments on the luxury strategy. Written by two world experts on the subject, it provides the first rigorous blueprint for the effective management of luxury brands and companies at the highest level, including human resources and financial management. It rationalizes those business models that have achieved profitability and unveils the original methods that were used to transform small family businesses such as Ferrari, Louis Vuitton, Cartier, Chanel, Armani, Gucci, and Ralph Lauren into profitable global brands. The Luxury Strategy will help you to gain a thorough understanding of the unique rules for successful luxury brand management. But more than this, it describes how any organization, from any sector, can learn from luxury and differentiate itself in the long term, even in the business-to-business environment.
Jean-Noël Kapferer is a worldwide thought leader and expert on brand management. A Professor of marketing strategy at HEC Graduate School of Management in France and is also a corporate branding consultant. His other popular titles include Kapferer on Luxury and The New Strategic Brand Management.
Vincent Bastien is one of the most experienced senior managers in the luxury business. Formerly MD of Louis Vuitton Malletier and CEO of Yves Saint Laurent Parfums, he has held senior posts at some of the world´s most prestigious luxury brands. He is now Affiliate Professor at HEC Paris, teaching Strategy in Luxury.
Praise for the previous edition: "[A]ctionable information and advice. If you market luxury products, or want to, "The Luxury Strategy" should be on your bookshelf." -- Roger Dooley, Neurosciencemarketing.com"[H]ighly recommended for any basic business collection" -- Midwest Book Review