The luxury goods industry, which includes drinks, fashion, cosmetics, fragrances, watches and jewellery, luggage and handbags, is on a constant upward growth curve. It's a truly global market with the world's top 100 luxury brands making sales of over $250 billion each year. Other than price alone, what is it about this market that makes it so valuable?
The Power of a Prestige Brand explains the stories of successful prestige brands, from a range of categories and backgrounds. Covering start-ups to classic organizations, membership brands to NGOs and branded spaces to blue chip companies, the authors interrogate these prestige companies and explain how any business, irrespective of its market segment or level, can learn the lessons from successful luxury categories and apply them to their own organization.
The Power of a Prestige Brand includes case studies and interviews from companies as diverse as Chobani, Coppola, Vanguard, the New York High Line, Tiffany & Co. and Pernot Ricard. Addressing business challenges such as taking e-commerce from convenience to experience, building a digital presence for a brand, being exclusive to customers throughout the customer journey and moving from standardization to personalization, Wolfgang Schaefer and JP Kuehlwein skilfully explain how any brand can become a prestige brand.