A contemporary analysis of global luxury brands 155

Abstract

This text contributes new knowledge to the subject of luxury brand management via discussion and analysis of new concepts, strategies and contemporary issues emerging from the evolving global luxury goods industry. It examines these as emerging ideas, prior to their subsequent use and adaptation into marketing strategies. For example, the chapter analyses the use of fashion positioning by luxury brands as a strategy, which has more recently evolved into the practice of co-branding between H&M mass fashion retailer and selected luxury houses between 2004 and 2007. A number of themes discussed in the chapter have, since writing, proved to reflect current strategic thinking for luxury brands and as such can be seen as outlining agenda issues for contemporary luxury brand management. For example, the chapter examines the significance of national image and heritage to luxury branding. At subsequent Financial Times global summits on the business of luxury (2005 and 2007), Italian brands Prada and Gucci stressed the importance of the ‘Made in Italy’ moniker during debates about brand appeal in emerging markets. The chapter also analyses and discusses the evolving definition and concept of luxury within the context of a changing luxury landscape. Much of the research disseminates opinions and ideas expressed by the world’s most senior figures in the global luxury goods industry, some from continuous dialogue with individual executives.