Abundant rarity: The key to luxury growth Case Solution & Answer

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While Western economies have made the transition from the crisis, the luxury sector continues to grow, especially in the upper end. In emerging countries, the expansion of the luxury industry has reached double digits. However, as luxury goods continue to go global, prestigious brands such as Louis Vuitton has not decreased at all. This seems to contradict the concept of luxury is related to the rarity and exclusivity. So how do we reconcile these facts with the theory? To access applications not only big issue people, but also luxury brands common individuals adopt tactics virtual rarity, build as art, and to adopt a business model of fashion, while deemphasize exceptional quality and country of origin. The shortage of ingredients or ship was replaced by qualitative rarity. Moreover, the cult of the designer is a powerful tool in building bond with a large number of customers. Today, brands in the luxury sector sell really symbolic and magical power to the masses. There is a cultural gap between Asia and the West, namely, Asian consumers are more confident to buy prestigious brands of the West with the people around them are familiar. The ideas presented here provide clues for entrepreneurs looking to launch the luxury brands.
by
Jean-NoÃ«l Kapferer
Source: Business Horizons
10 pages.
Release: September 15, 2012. Prod #: BH489-PDF-ENG
Abundant Rarity: The key to solving the case of the growth of luxury

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