Overview

This course provides students an opportunity to understand the singularity of the luxury business and its unique ability to deliver superior profits. Key points will be to establish the difference between Luxury, Fashion and Premium and acknowledge that Luxury demands a business approach that is not just an emulated version of mass market practices but an approach with its own peculiar set of rules and standards. The course will review separately the key business drivers such as quality, pricing, creativity, distribution and communications but will also analyze their complex interactions as well as the pivotal role of emotion in the purchase decision. 

Learning outcomes

The key takeaway will be to understand that Luxury is not a recipe to be followed. It is a set of powerful and peculiar concepts and practices that each brand is invited to reinterpret, according to its identity, history and values.

From a brand management point of view, the fundamental notion of existing brand DNA will be reviewed. We will also examine the approach to be used to define a new brand DNA.  

The most important learning, perhaps, will be about understanding the implications of the emotion-driven, luxury-purchase pattern not just in marketing the brand but in the overall business model. In Luxury, creativity is vital as well as the need to always approach problems with a long-term perspective.