The world of luxury is harboring an endangered species: that of the independent companies! In an increasingly challenging and globalized luxury environment, companies are fighting to escape from the ever-growing clout of luxury “conglomerates” – Swatch Group, LVMH, Kering and Richemont. As of 2015, these “big four” own more than 100 brands and are maintaining a constant pace of acquisitions, relying on vertical integration to secure supplies (and deprive competitors of them), which has particularly insidious consequences for independents. Most independents are struggling to survive and end up being acquired or going out of business.
Interestingly, this same movement toward consolidation is rendering brands more and more uniform, thus creating opportunities for players able to craft unique offerings for niche luxury clientele. Innovation is the path to follow in this challenging journey.
This book presents four winning innovation strategies:
- Back to the Roots
- Code Breakers
- Eagle in the Aquarium
- Game Changers
and a novel approach, the BA2RE® luxury strategy approach, to guide entrepreneurs, creators, designers, managers and those who dare to challenge the status quo to become groundbreakers.