Abstract
Luxury connotes a feeling of exclusivity to individuals of a higher social class. However, luxury fashion has evolved gradually. At present, the sector of luxury fashion is about exclusivity, quality, and prestige, but these qualities also appeal to the burgeoning middle class with price points below luxury competitors and a perceived quality quotient, namely, affordable or accessible luxury . In this paper, simple case studies on Hermes, Burberry, Cartier, and Ralph Lauren are conducted. Evidence of successful brand strategies and objectives of luxury fashion brands are reviewed. Many important managerial insights are provided which could help luxury fashion brand managers understand how luxury fashion brands have evolved and what strategies should be adopted.
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Quan, V., Shen, B. (2017). Evolution of Luxury Fashion Brands. In: Choi, TM., Shen, B. (eds) Luxury Fashion Retail Management. Springer Series in Fashion Business. Springer, Singapore. https://doi.org/10.1007/978-981-10-2976-9_2
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DOI: https://doi.org/10.1007/978-981-10-2976-9_2
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