Michel Chevalier - Luxury Brand Management in Digital and Sustainable Times

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FOURTH EDITION

Michel Chevalier

Gérald Mazzalovo

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 Gérald Mazzalovo to be identified as the authors of the editorial material in this work has been asserted in accordance with law.

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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. | Mazzalovo, Gerald, author.

Title: Luxury brand management in digital and sustainable times : a new world of privilege / Michel Chevalier, Gerald Mazzalovo.

Description: Fourth Edition. | Hoboken : Wiley, 2021. | Revised edition.

Identifiers: LCCN 2020029296 (print) | LCCN 2020029297 (ebook) | ISBN 9781119706281 (hardcover) | ISBN 9781119706298 (adobe pdf) | ISBN 9781119706304 (epub)

Subjects: LCSH: Brand name products--Management. | Luxury goods industry. | Luxuries--Marketing. | Branding (Marketing)

Classification: LCC HD69.B7 C476 2021 (print) | LCC HD69.B7 (ebook) | DDC 658.8/27--dc23

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

Why write a fourth edition of a book that was initially published in 2008?

Five reasons justify the effort:

1 Luxury is changing. First of all, luxury consumption and the industries related to it continue to play an increasingly important role in today's economy, societies, and ways of living, and are an important engine of innovation and fulfillment of basic human desires toward beauty and excellence. The dynamism of the luxury industries' evolution deserves constant observation just to keep up with its nature, mechanisms, and meanings and to be able to share those with our readers. In just the first months of 2020, as we were busy writing the new text, LVMH bought Tiffany's; Neimann Marcus, J.Crew, JC Penney, Brooks Brothers, Muji USA, and Barney's filed for Chapter 11; Sonya Rykiel went into liquidation and the brand was bought by two young new investors; Fenty, the new brand managed by Rihanna and co-owned with LVMH, occupied all the windows of Bergdorf Goodman in New York in February. The advent of COVID-19 has also shown numerous solidary initiatives from small and big brands. In this catastrophic pandemic, luxury brands have also shown their resilience, not only on e-commerce but in traditional physical retail, when the conditions allow for reopening.