The luxury strategy: break the rules of marketing to build luxury brands

TLDR

Luxury has expanded beyond fashion into all sectors, yet the proliferation of terms like premium and hyperluxe has diluted the concept, raising questions about what truly constitutes a luxury product, brand, or company. The Luxury Strategy aims to clarify the definition of luxury and establish a rigorous set of rules for managing luxury brands and products. The book applies original methods used by iconic luxury families—Ferrari, Louis Vuitton, Cartier, Chanel, Bulgari, Gucci, Prada—to explain the distinction between premium and luxury, outline a luxury marketing mix opposite to classic marketing, and provide principles for implementing and sustaining a luxury strategy within a company.

Abstract

Luxury is in fashion and is now to be found within almost every retail, manufacturing and service sector. New terms qualifying luxury regularly appear such as 'premium', 'ultra-premium' and 'hyperluxe'. Today, luxury is everywhere - but if everything is 'luxury' then surely the term itself has no meaning? What really is a luxury product, a luxury brand or a luxury company? The Luxury Strategy is a definitive new work that sets the record straight. Luxury is as old as humanity and it is only by a thorough understanding of the genuine concept, that it is possible to define a rigorous set of rules for the effective management of luxury brands and products. The Luxury Strategy rationalizes the management of this new business concept based on the highly original methods that were used to transform small family businesses such as Ferrari, Louis Vuitton, Cartier, Chanel, Bulgari, Gucci and Prada, into global brands. The Luxury Strategy explains the difference between 'premium' and 'luxury', and sets out the rules to be applied to the luxury marketing mix (the opposite of those for classic marketing). It describes how to implement a luxury strategy within a company and delivers clear principles for becoming - and remaining - 'luxury'.