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Full Description
Chanel suits, Louis Vuitton bags and Omega watches are now objects that embody a globalized material culture. Over the past 30 years, the luxury goods industry has undergone a tremendous expansion around the world. However, it remains largely dominated by European companies, ranging from diversified conglomerates such as LVMH and Richemont to independent companies such as the Italian fashion houses Armani and Ermenegildo Zegna, and industrial groups like Swatch and L'Oréal or new start-ups such as Richard Mille. How and why did these companies succeed? How did they manage to transform a sector previously dominated by small family firms into a global big business?
Selling Europe to the World presents the development of the global luxury goods industry from the 1980s to the present day. It highlights the strategies implemented by a new generation of entrepreneurs and explains, beyond the glamorous image conveyed by luxury brands, the sources of success of these firms. An essential book for understanding the success of the contemporary luxury industry.
Contents
Acknowledgements
Introduction
PART I: THE BIRTH OF THE GLOBAL LUXURY INDUSTRY
1. Globalization of Markets
French Leather Goods Exports
Accessing the Japanese Market
Accessing the Chinese Market
Democratization of Luxury and Globalization
Conclusion
2. The Dominance of Big Business
A Key Resource: Money
The Dominance of European Societies
Sectoral and National Specialization
Conclusion
3. New Marketing Strategies Based On Brand Heritage
History, Heritage and Storytelling
The Rise of a Luxury Brand In The Global Market: Christian Dior
Building the Dior Heritage
Conclusion
PART II: THE ACTORS OF THE GLOBAL LUXURY INDUSTRY
4. A Dominant Player —The Diversified Conglomerates
Moët Hennessy-Louis Vuitton (LVMH)
Compagnie Financière Richemont
Kering
The Competitive Advantage of Luxury Conglomerates
Conclusion
5. The Independent Family Business —Italian Fashion
From Haute Couture to Fashion Group: Giorgio Armani
Characteristics of The Italian Fashion Industry
A Large, Diversified Luxury Company: Ermenegildo Zegna
A Small Specialist Fashion Company: Aeffe
The Failure of Italian Family Capitalism: Gucci And Bulgari
Conclusion
6. Industrial Groups
A Giant in the Cosmetics Industry: L'Oréal
A Producer of Luxury Accessories: Luxottica
The Challenge of Perfumery and the Rise of Inter Parfums
Conclusion
7. Brands with Deep Regional Roots
The World's Largest Jeweller: Chow Tai Fook Jewellery
From Watches to Jewellery: Titan Industries
Japanese Cosmetics Manufacturers
Conclusion
8. The New Luxury Brands
Revival of "Sleeping Beauties": Blancpain
The Rise of Casual Luxury: Ralph Lauren
Technological Innovation as a Source Of Luxury: Hublot And Richard Mille
Conclusion
Conclusion
Bibliography
