A thorough, comprehensive guide to the luxury goods industry for executives, entrepreneurs, and students interested to know about the luxury business As key new luxury markets like Asia, Latin America and Africa continue to expand, The Road to Luxury: The Evolution, Markets and Strategies of Luxury Brand Management gives professionals interested in the industry a holistic understanding of luxury market dynamics around the world using stories, experiences, relevant data and statistics on current market trends. For investors, the book offers valuable insight on where the industry is headed. For industry insiders and executives, it presents valuable data with which to craft successful business strategies. The definitive insider's guide to the luxury sector by leading figures in the field  - Includes rigorous academic data, including information on the business attractiveness and appropriateness of various country markets  - Examines strategies and success factors of key players, and insight into the systems and operations, retail, distribution and e-commerce, emerging markets and emerging brands, as well as management styles For professionals in the luxury industry, as well as those studying it or investing in it, The Road to Luxury presents a complete and information-packed resource covering virtually every aspect of this growing sector. The Road to Luxury explores the fascinating history of luxury goods and explains the evolution of the burgeoning luxury marketplace, to offer a clear understanding of the dynamics of the luxury world. Citing current data and statistics on market trends, Ashok Som and Christian Blanckaert offer insight into the systems and operations, retail, distribution and e-commerce, emerging markets and emerging brands, as well as the different management styles throughout the luxury industry. Luxury brands have been carefully crafted through meticulous strategies in marketing and brand building, making their mark in the consumer's subconscious. These brands are defined by: brand strength, differentiation, exclusivity, innovation, product craftsmanship and precision, premium pricing, and high quality. The Road to Luxury examines the key strategies and success factors that are employed by the leading organizations in the luxury market. The authors also reveal the winning and losing tactics of many well-known players in the luxury industry adopted during and post recession. Filled with examples from household brands such as Louis Vuitton, Hermes, and Bottega Veneta to name a few, The Road to Luxury considers the skills and craftsmanship required to produce exquisite goods both in terms of economies of scale and economies of scope. To meet the needs of the ever expanding luxury marketplace it is necessary to find the special skill-sets required in craftsmen, who also possess an implicit understanding of the brand DNA; designers who understand and create innovations around the brand DNA; sales staff who translate the story of the brand to the diverse and growing consumer pool across different cultures, nations and continents; and managers who can run the business not as a small and medium sized enterprise but as a global corporation. Nothing happens quickly in the luxury world and the authors show why building a brand identity is a painfully slow but rewarding process. To be successful in the luxury market, the meaning of the brand and what it stands for needs to be clarified both internally and externally- the codes need to be defined, the brand needs to know who it is, what it represents and why it exists. The Road to Luxury presents a complete and informative resource that covers virtually every aspect of this growing sector. Praise for THE ROAD TO LUXURY "I enjoyed reading this 360-degree overview of the Luxury world and I think it could become a sort of a 'Bible' for everyone belonging to or studying to enter this challenging world. Besides providing a deep analysis on the evolution of this sector, such as the who's who, branding, retail, operations and emerging markets, I think everyone involved in this world will be able to find answers to every question which may arise or needs clarification. The reading is easily comprehensible and dotted with amusing stories like 'The pink bag' or the description of the perfect store manager....all this makes a wonderful 'package' full of passion without which anyone would not be able to enter or survive in the Luxury world." ―Giovanna Furlanetto, President, Furla " The Road to Luxury is a brilliantly insightful map of global luxury. The book walks you through the evolution of modern luxury brands, markets and the talents that drive it. It also provides a view on future shifts with emerging markets and brands as well as some warning signs. The book is a must read for all luxury executives." ―Grace Nida, Managing Director, Global Luxury Sector, Korn Ferry "This book gives a global view on the luxury industry. It has a comprehensiv