August 2012
Intermediate to advanced
320 pages
9h 41m
English
Content preview from Luxury Brand Management: A World of Privilege, 2nd EditionBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
CHAPTER 2
Specificities of the Luxury Industry
Representatives of any business sector are usually eager to assert that their business is different from any other, but managers working in the luxury industry are possibly the only ones who are justified in claiming so. The luxury sector really is different. This is due partly to the amount of creative talent needed for a luxury brand to be successful, and partly to the very different way in which a luxury brand with a worldwide market needs to be run. Three major differences will be identified. We will then briefly examine the major requirements for success in this business. We will conclude by identifying the main companies operating in this field.
What Is So Different About the Luxury Goods Industry?
The three major differences between the luxury industry and the non-luxury segment are: company size, financial characteristics, and the time factor.
Company Size
In almost every business, size is a major—if not the most important—element in comparing firms or industries. However, in the luxury world, size doesn’t seem to matter that much. In general, luxury businesses are small, but they are respected and have impressive reputations. Dior Fashion has annual sales of approximately €1 billion, while the Peugeot Group has annual sales of €56 billion. So, in fact, Peugeot is seventy times bigger than Dior Fashion. General Motors has sales of around €150 billion, one hundred and fifty times those of Dior Fashion. The number of employees ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access
More than 5,000 organizations count on O’Reilly
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.