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The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands 2ed Hardcover – Illustrated, 15 September 2012
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About the Author
Vincent Bastien is one of the most experienced senior managers in the luxury business. Formerly MD of Louis Vuitton Malletier and CEO of Yves Saint Laurent Parfums, he has held senior posts at some of the world's most prestigious luxury brands. He is now Affiliate Professor at HEC Paris, where he teaches Strategy in Luxury.
- Publisher : Kogan Page; 2 edition (15 September 2012)
- Language : English
- Hardcover : 408 pages
- ISBN-10 : 0749464917
- ISBN-13 : 978-0749464912
- Dimensions : 16.61 x 2.7 x 24.1 cm
- Best Sellers Rank: 166,847 in Books (See Top 100 in Books)
- Customer Reviews:
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Top review from Australia
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The main part that left me unsatisfied, and hence only 4 stars, is the part about applying the luxury strategy to non-traditional sectors, like high-tech (e.g. Apple).
I was hoping for deep insights into how Apple applied the luxury strategy, including which elements it chose to apply, which it clearly did NOT apply, and an analysis of why. Instead felt like the author's used the chapter to defend their anti-laws in the face of the clear success of Apple.
Specifically, I felt the authors did not explain Apple's following departures from the luxury strategy:
- Anti-law No. 1 is never to be comparative (i.e. forget about positioning) - when Apple very overtly compared itself to a PC through its famous PC vs Mac ads
- "The price is not publicly advertised" is part of the strategy - yet Jobs would routinely in his keynote speeches not only mention prices but compare them (favourably obviously) vs inferior products. Even if it is true that most ads themselves did not show the price tag, it seems like the price communication for Apple is very different to say Louis Vuitton, and an examination of these differences and theories as to why they exist I would have found helpful
- "luxury object should increase in value" - true maybe for luxury watches but not for computers - how Apple managed this tech reality would have been useful to me to explore
- Handmade aspect - differences especially in communication would have been useful to me
- Relocation - re foxconn goes, the book says "Apple should have applied the rules of the luxury strategy" . . . maybe, but the more interesting question for me is whether a) Apple still has a luxury strategy despite its factories being located in China and b) if they are indeed still following the luxury strategy, how they have managed to be what appears to be the only exception (at least as far as the authors' definition of luxury goes)
I feel like I was ploughing through the hundreds of pages to get to this juicy bit and it was lacking.
That said - I am learning a huge amount from this book - primarily learning about just entire areas that I know nothing about and that I need to become more familiar with for my projects.
Top reviews from other countries
Such a shame it contains some minor errors (Ferre' was a designer for Dior and not for Chanel as the authors stated) and several spelling mistakes. Additionally the chapter on brand stretching and brand extension is a little bit messy as the authors keep on jumping from one concept to the other without any clear logic behind it - it starts talking about brand extension then in the next paragraph is brand stretching and then back to brand extension.