REAL LUXURY
HOW LUXURY BRANDS CAN CREATE VALUE FOR THE LONG TERM
Misha Pinkhasov and Rachna Joshi Nair
Misha Pinkhasov and Rachna Joshi Nair
The stellar growth of luxury brands over the past 20 years has slowed drastically and suddenly, leading to concern about what the future of luxury holds. With “luxury” now used to label everything from cars to cookies, how can we understand the real value of luxury brands beyond their familiar claims to heritage, craftsmanship and customer service? Faced with savvier, more exigent consumers, what can luxury brands do to respond to the growing demand for meaningful and responsible business? Together, these questions point to the opportunity for luxury brands to revive their flagging fortunes by asserting their innate leadership potential in business and society.
Luxury has an outsized influence on the way people think and act. It can encourage and promote the highest standards of design, production, communication and behavior. By turning their universe of conspicuous consumption into one of intelligent demand, luxury brands can once again make the true meaning of luxury central to their business.
Real Luxury examines what luxury brands are from a new perspective: from economic, sociological and psychological standpoints. It spells out the challenges the luxury sector is facing and puts forward a brand new and practical model to revive and protect luxury brands in the long term, based on the authors' experience with leading global luxury brands. Linking luxury with market forces including sustainability, the globalized economy, and the impact of technology, this book provides an accessible and innovative way of thinking about luxury brand management, with insights from current thought leaders and innovators behind the luxury brands.
Luxury has an outsized influence on the way people think and act. It can encourage and promote the highest standards of design, production, communication and behavior. By turning their universe of conspicuous consumption into one of intelligent demand, luxury brands can once again make the true meaning of luxury central to their business.
Real Luxury examines what luxury brands are from a new perspective: from economic, sociological and psychological standpoints. It spells out the challenges the luxury sector is facing and puts forward a brand new and practical model to revive and protect luxury brands in the long term, based on the authors' experience with leading global luxury brands. Linking luxury with market forces including sustainability, the globalized economy, and the impact of technology, this book provides an accessible and innovative way of thinking about luxury brand management, with insights from current thought leaders and innovators behind the luxury brands.
