- New book highlights the issues that define the luxury industry in the 21st century
- Reveals the winning and losing tactics of many well known players in the luxury industry adopted during and post recession
A new book by Wiley offers a comprehensive overview on how the growing sector in luxury market has witnessed the shifting sands of time. The Road to Luxury: The Evolution, Markets and Strategies of Luxury Brand Management (Wiley; January 2015; ISBN: 978-0-470-83002-4, Hardcover; US$59.95), shows how luxury is no longer reserved for the elite and how it has evolved over time from family businesses to conglomerates, old luxury to new luxury and uber luxury to affordable luxury.
Christian Blanckaert, a former executive vice president of Hermès and leading expert in the luxury industry; and Ashok Som, one of the pioneering thought leaders in designing organizations and an expert in Global Strategy; claims that a recent trend has shown that luxury consumers are looking for brands that provide them with an emotional state of mind through a unique and sensual experience. “The story of the evolution of luxury is really about the evolution of society,” they said.
In their new book, the authors highlight the issues that define the luxury industry in the 21st century. This includes intellectual property rights and counterfeits, evolution of luxury industry, the effect of global economic crisis on the luxury industry, reaction to the crisis of global markets and how the luxury sector responds to the crisis.
“There was no universal response, nor any universal language. Chanel speaks Chanel, Hermès speaks Hermès, and Gucci has its own vocabulary,” said the authors.
The book also reveals the winning and losing tactics of many well-known players in the luxury industry that are adopted during and the post recession. These effective tactics are explained in a topic called, ‘Eight P’s of Luxury Brand Marketing’. This section expands on the requirement for highly creative and selective branding principles catered for the new age luxury managers and aspiring luxury entrepreneurs.
The Road to Luxury is a practical resource that provides an in-depth look into the luxury phenomenon. It uses relevant data and statistics on the current market trends, enabling the reader to apply the recommended tactics to his/her own business needs.
"I enjoyed reading this 360-degree overview of the Luxury world and I think it could become a sort of a 'Bible' for everyone belonging to or studying to enter this challenging world," writes Giovanna Furlanetto, President of Furla, in praise to the book.
The Road to Luxury is now available at the publisher's website at www.wiley.com.
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Press contact:
Sharifah Sharomsah
Publicist, WILEY
skbsharoms@wiley,com
Tel: (+65) 6643-8099
Ashok Som is professor and associate dean at ESSEC Business School. He is the founder of the India Research Centre at ESSEC. His research has been published in Human Resource Management, International Journal of Human Resource Management, Asia Pacific Journal of Management, Thunderbird International Business Review, European Business Forum, to name a few. He is Adjunct Faculty at IIM Ahmedabad (India), Visiting Professor at GSB, Keio University (Tokyo), Tamkang University (Taiwan) and AUT University (New Zealand). He was the Winner of the EMFD Case Writing Competition 2008. He has been in the Who's Who of the World. He was nominated as one of the 2000 Outstanding Intellectuals of the 21st Century in 2008-2009. He received the Pride of HR Profession Award awarded by the World HRD Congress in February 2010. His books Organization-Redesign and Innovative HRM was published by Oxford University Press (2008) and International Management: Managing the Global Corporation was published by McGrawHill, UK (2009). He is a regular speaker in international conferences and consults with European and Indian multi-nationals.
Christian Blanckaert is a global leader in luxury fashion. He is currently the non-executive Chairman of Petit Bateau and advisor to the Chairman of EPI group (JM Weston, and Alain Figaret, Bonpoint), the family holding Descours. He was formerly the Executive Vice Président of Hermès International and Chairman and CEO of Hermès Sellier and from 1988 to 1996. He was President of Comité Colbert (a French organisation that represents seventy French luxury companies). Christian has written four books; Roads to Luxury (1996 Grasset), Portraits en clair-obscur (2001 Balland), a biography of Roger Salengro (2004 Balland) and Luxe (2007 Editions du Cherche Midi). He is a visiting Professor of Management at ESSEC Business School, Paris-Singapore.
Contact the publicist:
Sharifah Sharomsah
Publicist
skbsharoms@wiley.com
+65 6643-8099