Strategic Luxury Management is a case-rich and practical overview of how luxury creates value and why some firms are more successful than others. The focus of luxury study has traditionally centered on the clients’ drivers of consumption, their perception of the brand and the way to effectively engage with them. Luxury is rarely, however, discussed from a strategic perspective: how luxury managers make complex decisions relative to their competitive environment.
The book provides insight into the luxury industry and how companies face market complexity across three key areas. First, the company itself, determining what defines a luxury firm. Second, the book offers a specific framework to assess creativity across management and not simply as an individual talent. Third, the book considers the competitive landscape and the principles that allow companies to compete consistently and meaningfully. Each chapter includes pedagogical features to ensure comprehension, including chapter objectives and self-study questions.
With examples and case studies from international firms illustrating each chapter, Strategic Luxury Management is essential reading for postgraduate, MBA and executive education students studying luxury management, luxury brand management, luxury creativity and innovation, and strategic management, as well as reflective practitioners within the luxury industry.
Online resources include chapter-by-chapter PowerPoint slides.
Table of Contents
Part 1: The Concept of Luxury
1. The Concept of Luxury: Past, Present and Future
Part 2: Principles of Luxury Value Creation: The Essence of Luxury
2. The Need for a Managerial Approach: Luxury and Strategy
3. The Essence of Luxury: Unveiling the Luxury Value Creation Process
Part 3: Principles of Creativity-Driven Industries: The Nature of Luxury
4. The Luxury Firm and the Role of Creativity
5. Luxury as a Creative Industry: The Creative Value System
Part 4: Principles of Luxury Competition: The Means of Luxury
6. Principles of Business Level Rivalry: The Means of the Luxury Firm
7. Principles of Corporate Level Rivalry: Diversification and the Conglomerate Power
8. The Future of Luxury
David Millán Planelles is Adjunct Professor of Strategy at IE Business School, Spain, and Adjunct Professor at the International University of Monaco. He creates teaching materials for the strategy of luxury and creativity-driven firms and was awarded the European Foundation of Management Development (EFMD) best case of the year in 2017.