Luxury Brand Management in Digital and Sustainable Times

Learn about the luxury brand industry from the inside out with this masterful and insightful resource

The newly revised Fourth Edition of Luxury Brand Management in Digital and Sustainable Times delivers a timely re-examination of what constitutes the contemporary luxury brand landscape and the current trends that shape the sector. Distinguished experts and authors Michel Chevalier and Gerald Mazzalovo provide readers with a comprehensive treatment of the macro- and micro-economic aspects of management, communication, distribution, logistics, and creation in the luxury industry.

Readers will learn about the growing importance of authenticity and sustainability in the management of fashion, perfume, cosmetics, spirits, hotels and hospitality, jewelry, and other luxury brands, as well as the strategic issues facing the companies featured in the book. The new edition offers:

• A new chapter on the "Luxury of Tomorrow," with a particular focus on authenticity and durable development
• A completely revised chapter on "Communication in Digital Times," which takes into account the digital dimension of brand identity and its implications on customer engagement activities and where the concept of Customer Journey is introduced as a key marketing tool
• A rewritten chapter on "Luxury Clients" that considers the geographical changes in luxury consumption
• Considerations on the emerging notion of "New Luxury"
• Major updates to the data and industry figures contained within the book and a new section dedicated to the hospitality industry
• New semiotic analytical tools developed from the authors’ contemporary brand management experiences

Perfect for MA and MBA students, Luxury Brand Management also belongs on the bookshelves of marketing, branding, and advertising professionals who hope to increase their understanding of the major trends and drivers of success in this sector.

Introduction vii

Chapter 1: The Concept of Luxury 1

Chapter 2: Specificities of the Luxury Industry 38

Chapter 3: Major Luxury Sectors: Ready-to-Wear, Perfumes and Cosmetics, and Leather Goods 66

Chapter 3: Major Luxury Sectors: Wines and Spirits, Jewelry and Watches, and Hotels and Hospitality 98

Chapter 4: The Power of the Luxury Brand 130

Chapter 5: The Luxury Client 161

Chapter 6: Brand Identity: Concepts and Analytical Semiotic Tools 188

Chapter 7: Additional Brand Analytical Tools 227

Chapter 8: Creation and Merchandising 276

Chapter 9: Communication in Digital Times 324

Chapter 10: Managing a Global Brand 377

Chapter 11: Retail Management 417

Chapter 12: Sustainability and Authenticity 452

Appendix A: Applying Brand Identity Analytical Tools 483

Appendix B: Glossary of Digital-Related Terms 491

Index 497

MICHEL CHEVALIER is an expert in luxury brand management and retailing. He was Executive Vice President of Bluebell Asia Ltd, a distributor of luxury brands, operating retail stores in Asia. He also managed the Paco Rabanne perfumes and fashion companies. He is now the president of Parfums Dusita, Paris, and a visiting professor of Luxury Management at HEC Paris and Universita Cattolica di Milano. He is the co-author of Luxury Brand Management (with Gérald Mazzalovo) and Luxury Retail Management (with Michel Gutsatz).

GÉRALD MAZZALOVO is a brand expert who has been managing brands for the past 30 years. He has been CEO of brands such as Ferragamo (USA), Loewe, Ungaro, Bally, Clergerie and recently Jim Thompson Thai silk. He is currently a senior research fellow and faculty member at Sasin School of Management of Chulalongkorn University in Bangkok, Thailand. Gérald has taught in universities in France, Italy and Spain and has extensively published books and academic articles on brand management in general.

Luxury Brand Management in Digital and Sustainable Times explores the many complex aspects of the luxury brand industry. This comprehensively updated fourth edition fills the need for a book that presents a fresh perspective on the contemporary luxury brand landscape, discusses the most recent trends in the industry, and presents some analytical and managing tools for the brand manager.

Filled with illustrative examples of more than 450 brands, it examines the notion of luxury and explores the need for contemporary luxury brands to be authentic, sustainable and consistent with their own identity. This new edition takes into account the geographical changes in luxury consumption and reviews new client profiles with a section on the international Chinese customer.

Luxury Brand Management in Digital and Sustainable Times provides a unique blend of macro- and micro-economic considerations of an industry which serves the natural human desires towards excellence and beauty. It includes updates to the industry's data and figures, including information on market size, turnover and profitability of leading luxury companies; and provides the reader with analytical tools designed to aid in the development of an effective management of brand identity.

Discover what drives the success and failure of luxury brands in today's disrupted markets

The newly revised and thoroughly updated Fourth Edition of Luxury Brand Management in Digital and Sustainable Times re-examines the contemporary luxury brand landscape in light of recent technological, social, political and demographic trends and developments. Accomplished luxury professionals and authors Michel Chevalier and Gérald Mazzalovo walk readers through the management, communication, distribution, logistics, and creation aspects of the modern luxury company; and share the insightful lessons they've learned from their multiple and most recent experiences in Europe, Latin America, Middle East, USA and Asia. Over 450 brands are examined, and every major luxury sector is discussed: fashion, perfumes and cosmetics, wines and spirits, jewelry and watchmaking, leather goods, and hotels.

The book includes an insightful treatment of the ascendant importance of concepts of identity, authenticity, and sustainability in luxury markets and provides readers with an examination of the strategic and operational issues faced by luxury brands. Data and industry figures, including market size, turnover, and profitability, are rigorously updated, and the reader is provided with analytical tools that assist in the development and management of brand identities.

Perfect for MA, MBA and DBA students, as well as students of courses, programs, or degrees in Luxury Brand Management, this book also belongs on the bookshelves of marketing, branding, and advertising professionals and students who seek to improve their understanding of the drivers of success in today's markets.