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This book explores the luxury industry and how it has undoubtedly been one of the fastest-growing sectors since the 1970s, and one in which Europe has managed to strengthen its competitiveness in the world market. While many aspects of globalization remain abstract and intangible, the luxury industry has created markets where previously there were...
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... obi , 1965, (Index: 1965 Complete data for the study 147 Table 7.2 Summary statistics 149 Table 7.3 Parameter estimates of Model-a 150 Table 7.4 Chow-test results 150 Table 7. 5 Parameter estimates of Model-b 151 Table 8.1 Trends in GDP per capita (USD) and sales of foreign luxury goods (100 million KRW) 162 Table 8. 2 Year-on-year growth in total sales of department stores and sales of luxury brands at department stores, as a % 163 The luxury goods industry has undoubtedly been one of the fastest-growing sectors since the 1970s, and one in which Europe has managed to strengthen its competitiveness within the world market. According to the consulting firm Bain & Company, global sales in the luxury industry (including fashion, jewellery, watches, and cosmetics) shot up from 73 billion euros in 1994 to 253 billion euros in 2015 (Bain & Company 2015). ...Context 2
... the beginning of the twenty-first century the evolution of Italian luxury goods companies has resulted in an increased variety of business strategies, reflecting the extent to which companies pursued vertical integration, brand extension, brand creation and brand acquisition. Table 3.1 lists the Italian companies ranked in the top 100 luxury goods companies on the basis of publicly available data of the fiscal year 2013. ...Context 3
... a revenue of $1222 million each, Italian luxury goods companies are smaller on average than the top 100($2142 million). Table 3.2 provides more detailed information about the Italian companies ranked in the top 100 luxury goods companies. ...Context 4
... 3.2 provides more detailed information about the Italian companies ranked in the top 100 luxury goods companies. The information provided by Table 3.2 relates to ownership, products, and brands. ...Context 5
... same applies to those companies (such as Loro Piana, Fendi, Emilio Pucci, Acqua di Parma, and Bulgari acquired by LVMH and Gucci, Bottega Veneta, and Brioni bought by Kering) that have been partially or totally taken over by foreign competitors aimed at gaining access to niche markets and at strengthening their positions in particularly strategic categories of personal luxury goods. These companies-which are not listed in Table 3.2 because they are no longer Italian-are representative of the crucial role played by M&A activity in increasing the economic concentration within the global value chains as well as in expanding businesses horizontally through the acquisition of targeted niche brands. ...Context 6
... regard to product categories, Table 3.2 point to a fragmentation that further complicates the organizational assets of Italian luxury goods industry. Of course, production has a direct influence in determining the size and scope of a company. ...Context 7
... closer look at Table 3.2 shows that industrial districts are also of crucial importance to understand the features and the evolution of the Italian luxury goods industry in recent times (Rabellotti 2007). ...Similar publications
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Citations
... Most of luxury brands are not independent: the largest percentage of their total shares is owned and controlled, de iure or de facto, by conglomerates (holdings), operating in several countries and engaging in transactions across national boundaries in the guise of international businesses with international managerial structures (Donzé, 2018). Multinationals can create fully owned subsidiaries with land and properties in the host country, or they can opt for a concentrated and specialized high-quality production in the parent country (Abatecola, 2020), as in the case of most luxury businesses, with an ex-post worldwide exportation. ...
The purpose of this work is to investigate the compatibility of two apparently colliding worlds, luxury businesses and international holdings, through the common denominator of the theory called Total Quality Management.
... Moreover, this happened during a period of deep transformation of the industrial organisation of luxury business, characterised by the foundation and growth of conglomerates (Bonin 2012;Donzé 2018). These companies implemented a strategy based on their expansion in global markets and the democratisation of consump tion, in order to increase financial profitability (Donzé and Fujioka 2018). Hence the Japanese market played a determinant role in this process. ...
Since the 1980s, Japan has been one of the largest markets for the luxury business. It made a large contribution toward shaping this global industry. Most international research in management and social sciences on the Japanese luxury market emphasises its specificities, regarding Western markets, in terms of consumer behaviour, distribution system, and adaptation of goods. Based on case studies of Burberry, Christian Dior, and Louis Vuitton, this chapter discusses the various strategies adopted by Western companies to enter the Japanese market, how they changed their strategy over time, and what they learnt from this market. At the same time, Japanese luxury companies faced difficulties to expand outside their domestic market. Exploring the examples of Mikimoto and Seiko, this chapter argues that cultural factors and brand management are the most important factors accounting for this weakness.
... First, many Swiss brands have become big luxury businesses over the last thirty years. They are highly concerned with optimising the improvement of their reputation and controlling every stage in the chain of value (Munz 2016;Donzé and Fujioka 2017), including the aft er-sales stage which encompasses servicing and repair. In the last decades, the success of Swiss watches on the international scene has been structurally linked to the gradual repositioning of this industry within the market of luxury goods (Munz 2017b). ...
... Underlining the variety of cultural signifi cances assigned to the action of repair, these contributions emphasise diff erent topics: the sociopolitical conditions for the emergence of repair practices Schulz 2015), the modes of valuation for such practices , and the techniques, materialities and bodily involvement they imply (Dant 2009;Houston 2014;Nova 2017). Yet while the topic of luxury has also become a prominent area of inquiry in the humanities (Sougy 2013;Donzé and Fujioka 2017;Abélès 2018), very few works have specifi cally questioned repair practices in intersection with the issue of range and the social categories of 'high-end' or 'luxury'. Nonetheless, in spite of the relative lack of attention that has so far been paid to the question, it is remarkable, once one has begun noticing it, in how many various places and in connection with how many multiple industries (watches, jewels, leatherwork, textile/fashion, shoes, antiques, etc.) luxury worlds have become 'stages' on which the care of sustaining things over time and periodically servicing them is claimed by actors and organisations (Boltanski and Esquerre 2014;Munz 2016). ...
... Nonetheless, in spite of the relative lack of attention that has so far been paid to the question, it is remarkable, once one has begun noticing it, in how many various places and in connection with how many multiple industries (watches, jewels, leatherwork, textile/fashion, shoes, antiques, etc.) luxury worlds have become 'stages' on which the care of sustaining things over time and periodically servicing them is claimed by actors and organisations (Boltanski and Esquerre 2014;Munz 2016). This care for repair is explicitly displayed as a sign of quality in many companies' marketing strategies (Dematteo 2015;Donzé and Fujioka 2017). Consequently, it is worth conceiving of luxury as a relevant area in which to study repair practices and likewise to approach repair as a means of constructing, justifying and/or maintaining luxury value. ...
Exploring some of the ways in which repair practices and perceptions of brokenness vary culturally, Repair, Brokenness, Breakthrough argues that repair is both a process and also a consequence which is sought out—an attempt to extend the life of things as well as an answer to failures, gaps, wrongdoings, and leftovers. This volume develops an open-ended combination of empirical and theoretical questions including: What does it mean to claim that something is broken? At what point is something broken repairable? What are the social relationships that take place around repair? And how much tolerance for failure do our societies have?
... In this respect, the evolution of the American and European consumer goods industries captures how the shift from technology-driven to marketing-driven management enabled companies based in high-wage countries to maintain their competitiveness. Branding, distribution, and storytelling, together with the use of global value chains for organizing production, have come to represent the competitive advantage of most Western firms in consumer goods (Donzé & Fujioka, 2017;Finne & Sivonen, 2008), transforming the manufacturing industry into a creative industry (Lazzeretti, 2012). In Japan, however, very few consumer goods companies have succeeded in implementing this shift. ...
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During the postwar era, luxury fashion firms entered a new phase of their international growth with the licensing of their brands. The French haute couture firm Dior was pioneer in licenses, and established branches in a series of countries around the world. Inspired by the transatlantic successes of firms such as Jean Dessès, Christian Dior, and Norman Hartnell, French luxury firms registered their brands internationally and replicated the registration of trademarks in numerous countries. This paper further examines the reach of luxury fashion and beauty brands in the colonies of France and of Belgium. This shows that the fashion firms expanded their transatlantic expertise, and that this created newer transatlantic circuits in return.
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The rapid diffusion of new technological innovations resulted in lack of knowledge about how luxury and technology may be successfully combined. This chapter aims to provide clarity over the phenomenon of new technological integration in luxury through a comprehensive and systematic literature review. The study considers a corpus of 1196 original contributions through the combination of two established machine learning algorithms (LDA and hierarchical clustering). The analyses sheds light on a structured classification of the various streams of current research and a list of promising emerging trends in the field of fashion, tourism, real estate, and food, together with a focus on minor topics such as luxury wellness, healthcare, automotive, and the most prominent consumers-related variables to be investigated.KeywordsLuxury marketingNew technologiesTechnology managementArtificial IntelligenceInternet of ThingsMachine learningBlockchainData analysis
This paper examines the entry strategies of luxury brands in Japan. It uses the global value chain framework and the literature on international business to discuss the entry strategies adopted by European brands on the Japanese market during the last seven decades. Two different business models, the dominance model and collaboration model, which are exemplified by French and Italian companies, respectively, are identified in our analysis. The findings of our analysis suggest Italian luxury fashion brands initially used the collaboration model to enter Japan; however, this approach caused conflict over time, which eventually resulted in the adoption of the dominance model and convergence with the French model. This paper demonstrates that when entering markets with a large psychic distance, Western luxury brands are more likely to face the paradox that the dominance model can only be achieved in a specific set of circumstances through a transitional collaboration with local partners. In our conclusions, we detail the managerial implications for practitioners in the luxury sector.
