Chanel suits, Louis Vuitton bags and Omega watches are now objects that embody a globalized material culture. Over the past 30 years, the luxury goods industry has undergone a tremendous expansion around the world. However, it remains largely dominated by European companies, ranging from diversified conglomerates such as LVMH and Richemont to independent companies such as the Italian fashion houses Armani and Ermenegildo Zegna, and industrial groups like Swatch and L'Oréal or new start-ups such as Richard Mille. How and why did these companies succeed? How did they manage to transform a sector previously dominated by small family firms into a global big business?
Selling Europe to the World presents the development of the global luxury goods industry from the 1980s to the present day. It highlights the strategies implemented by a new generation of entrepreneurs and explains, beyond the glamorous image conveyed by luxury brands, the sources of success of these firms. An essential book for understanding the success of the contemporary luxury industry.
Author(s): Pierre-Yves Donzé
Publisher: Bloomsbury Visual Arts
Year: 2023
Language: English
Pages: 179
City: London
Cover
Halftitle page
Copyright page
Title page
CONTENTS
ILLUSTRATIONS
ACKNOWLEDGEMENTS
INTRODUCTION
PART I THE BIRTH OF THE GLOBAL LUXURY INDUSTRY
CHAPTER 1 GLOBALIZATION OF MARKETS
1.1 French leather goods exports
1.2 Accessing the Japanese market
1.3 Accessing the Chinese market
1.4 Democratization of luxury and globalization
1.5 New consumption trends
1.6 Conclusion
CHAPTER 2 THE DOMINANCE OF BIG BUSINESS
2.1 A key resource: money
2.2 The dominance of European societies
2.3 Sectoral and national specialization
2.4 Conclusion
CHAPTER 3 NEW MARKETING STRATEGIES BASED ON BRAND HERITAGE
3.1 History, heritage, and storytelling
3.2 The rise of a luxury brand in the global market: Christian Dior
3.3 Building the Dior heritage
3.4 Conclusion
PART II THE ACTORS OF THE GLOBAL LUXURY INDUSTRY
CHAPTER 4 A DOMINANT PLAYER—THE DIVERSIFIED CONGLOMERATES
4.1 Moët Hennessy–Louis Vuitton (LVMH)
4.2 Compagnie Financière Richemont
4.3 Kering
4.4 The competitive advantage of luxury conglomerates
4.5 Conclusion
CHAPTER 5 THE INDEPENDENT FAMILY BUSINESS—ITALIAN FASHION
5.1 From haute couture to fashion group: Giorgio Armani
5.2 Characteristics of the Italian fashion industry
5.3 A large, diversified luxury company: Ermenegildo Zegna
5.4 A small specialist fashion company: Aeffe
5.5 The failure of Italian family capitalism: Gucci and Bulgari
5.6 Conclusion
CHAPTER 6 INDUSTRIAL GROUPS
6.1 A giant in the cosmetics industry: L’Oréal
6.2 A producer of luxury accessories: Luxottica
6.3 The challenge of perfumery and the rise of Interparfums
6.4 Conclusion
CHAPTER 7 BRANDS WITH DEEP REGIONAL ROOTS
7.1 The world’s largest jeweler: Chow Tai Fook Jewellery
7.2 From watches to jewelry: Titan Industries
7.3 Japanese cosmetics manufacturers
7.4 Conclusion
CHAPTER 8 THE NEW LUXURY BRANDS
8.1 Revival of “sleeping beauties”: Blancpain
8.2 The rise of casual luxury: Ralph Lauren
8.3 Technological innovation as a source of luxury: Hublot and Richard Mille
8.4 Conclusion
CONCLUSION
NOTES
BIBLIOGRAPHY
INDEX
