The luxury industry is currently on a remarkable journey. Despite the economic slowdown, luxury brands such as Hermès, Louis Vuitton and Gucci have announced record sales and profits in a growing and resilient market. These brands also affirm however that this journey is as challenging as it is exciting; the acceleration imposed by globalized markets, stock markets and digital technologies, to name but a few factors, demand responsiveness and continuous adaptation.
Global Luxury Trends, a new book edited by Jonas Hoffmann and Ivan Coste-Manière of SKEMA Business School, analyses the companies and their innovative strategies which are changing the way we understand the luxury market.
The book covers mature luxury markets (such as Europe and the United States), as well as the emerging markets of China, Brazil, India, Russia and South Korea. The authors explore the global trends that are both challenging current luxury models as well as providing opportunities for innovation and growth, including issues such as the impact of digital technology, sustainability, luxury and the arts, luxury and sports, entrepreneurship, consumption habits among ultra-high net worth individuals and luxury tribes. With insight from experts around the world, the authors present a compelling and engaging framework for understanding how the luxury industry is changing, and the key factors luxury professionals need to be aware of to stay ahead of the game.
· ‘Global Luxury Trends is a useful tool for understanding the logic of luxury. It is an insightful analysis of China, Russia, India and Brazil that gives a key to appreciating and evaluating the markets of emerging countries. Students, professors and managers will enjoy the descriptions of consumers and the attitudes of buyers. I strongly recommend this clear, well written and very informative book for those who want to sharpen the business model of management in the luxury industry.’ – Christian Blanckaert, Former Executive VP of Hermes International
· ‘Global Luxury Trends is a catalyst of crucial turning points and provides a set of changes in both leadership and focus. A reality check for instant connectivity and new pillars of global relevance’. – Alberto Milani – CEO Buccellati Inc.
Global Luxury Trends: Innovative Strategies for Emerging Markets
By Jonas Hoffmann and Ivan Coste-Manière, professors at SKEMA Business School
Release date: January 2013
Publisher: Palgrave Macmillan; Pages: 280
Price: £26 (hardcover); £17.86 (electronic format)
About the editors
Dr. Jonas Hoffmann is Professor of Luxury Marketing at SKEMA Business School. He has extensive experience in consulting, executive training and has been a regular panellist at international luxury events. He has written several articles about marketing and innovation in the luxury industry. He is co-editor of “Luxury Strategy in Action” (Palgrave Macmillan).
Dr. Ivan Coste-Manière has extensive experience in the luxury industry; he has founded 8 companies in the fragrance, watch and marketing sectors. He is Professor of Marketing at SKEMA Business School and Head of SKEMA’s Master of Science in Luxury and Fashion Management. He is co-editor of “Luxury Strategy in Action” (Palgrave Macmillan).