Luxury brand management in digital and sustainable times : a new world of privilege

MICHEl CHEVALIER GERA.LD MAZZAL VO

This edition first published 2021 © 2021 John Wiley & Sons, Ltd. All rights reserved. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, except as permitted by law. Advice on how to obtain permission to reuse material from this title is available at http://www.wiley.com/go/permissions. The right of Michel Chevalier and Gerald Mazzalovo to be identified as the authors of the editorial material in this work has been asserted in accordance with law. Registered office John Wiley & Sons Ltd., The Atrium, Southern Gate, Chichester, West Sussex PO19 8SQ, United Kingdom For details of our global editorial offices, customer services, and more information about Wiley products visit us at www.wiley.com. Wiley also publishes its books in a variety of electronic formats and by print-on-demand. Some content that appears in standard print versions of this book may not be available in other formats. Limit of Liability/ Disclaimer of Warranty While the publisher and authors have used their best efforts in preparing this work, they make no representations or warranties with respect to the accuracy or completeness of the contents of this work and specifically disclaim all warranties, including without limitation any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives, written sales materials or promotional statements for this work. The fact that an organization, website, or product is referred to in this work as a citation and/or potential source of further information does not mean that the publisher and authors endorse the information or services the organization, website, or product may provide or recommendations it may make. This work is sold with the understanding that the publisher is not engaged in rendering professional services. The advice and strategies contained herein may not be suitable for your situation. You should consult with a specialist where appropriate. Further, readers should be aware that websites listed in this work may have changed or disappeared between when this work was written and when it is read. Neither the publisher nor authors shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages . ibrary of Congress Cataloging- in-Publication DataNames: Chevalier, Michel, 1943- author. I Mazzalovo, Gerald, author. Title: Luxury brand management in digital and sustainable HD times : a new world of privilege / Michel Chevalier, Gerald Mazzalovo. bi Description: Fourth Edition. I Hoboken : Wiley, 2021. I Revised edition. l37CA'1Identifiers: LCCN 2020029296 (print) I LCCN 2020029297 (ebook) I ISBN zoi19781119706281 (hardcover) I ISBN 9781119706298 (adobe pdf) I ISBN 9781119706304 (epub) Subjects: LCSH: Brand name products-Management. I Luxury goods industry. Luxuries-Marketing. I Branding (Marketing) Classification: LCC HD69.B7 C476 2021 (print) I LCC HD69.B7 (ebook) I DDC 658.8/27-<lc23 LC record available at https://lccn.loc.gov/2020029296 LC ebook record available at https://lccn.loc.gov/2020029297 Cover Design: Wiley Cover Image: ©Akintevs/Getty Images Set in 11.5/14pt, BemboStd by SPi Global, Chennai, India. 10 9 8 7 6 5 4 3 2 1 Printed and bound by CPI Group (UK) Ltd, Croydon CR0 4YY

Contents Introduction vii 1 Chapter 1: The Concept of Luxury 38 Chapter 2: Specificities of the Luxury Industry 66 Chapter 3: Major Luxury Sectors: Ready-to-Wear, Perfumes and Cosmetics, and Leather 98 Goods 130 161 Chapter 3: Major Luxury Sectors: Wines and Spirits, Jewelry and Watches, and Hotels and 188 Hospitality 227 Chapter 4: The Power of the Luxury Brand Chapter 5: The Luxury Client Chapter 6: Brand Identity: Concepts and Analytical Semiotic Tools Chapter 7: Additional Brand Analytical Tools V

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 professiona1·s and authors Michel Chevalier and Gerald 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 OBA 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. Cover Design: Wiley ISBN 978-1-119-70628-1 Cover Image: © Akintevs/Getty Images 90000 WILEY r;.J1 Also available 9 781119 706281 ~ as an e-book