20671 - LUXURY COMPANIES IN THE GLOBAL LANDSCAPE
Course taught in English
Go to class group/s: 31
Class 31: GABRIELLA LOJACONO
The luxury industry has dramatically changed in recent decades, by going through continued revolutions in digital technologies, international markets, and consumer trends. Emerging brands and new retail formats are constantly entering the industry, forcing established companies to re-think their business models and face a cultural change. Successful companies are those that stay true to their heritage and fundamental values of beauty, creativity, and exclusivity, but at the same time understand new trends and catch emerging opportunities. Managers of luxury companies must be highly imaginative and highly disciplined at the same time. They must preserve the exclusivity that is typical of luxury products but also be inclusive in how they speak to new generations, recruit talents, and deal with different cultures across the globe. Innovation in luxury must be continuous and allow companies to maintain the cachet and the dream factor through time.
- Foundations of luxury: aesthetics, prestige, and timeless value.
- Characteristics of luxury companies: history, modes of ownership, global presence.
- International market trends and international growth of luxury companies.
- Designing luxury strategies: how to create and deliver value for modern customers.
- Executing luxury strategies: innovation, organizational change, go to market.
- Structuring and managing the luxury value chain: issues of control and vertical integration.
- Digital strategies.
- Catching new opportunities and developing new business models.
- The course is finalized at providing students with an in-depth understanding of the values of luxury, the strategic issues of the industry and the characteristics of the luxury value chain.
- Students familiarize themselves with the logics driving modern luxury brands from different sectors.
- Understand these issues, different perspectives from strategy, creativity, international business, and digital transformation are proposed.
- The conceptual frameworks and the analytical tools of the luxury world are used to describe and explore the several processes that companies have to perform.
Map and assess, based on Key Performance Indicators, core processes of a Luxury Process. Students are expected to:
- Interpret and criticize past strategic choices.
- Design a growth plan for a luxury company.
- Face-to-face lectures
- Guest speaker's talks (in class or in distance)
- Company visits
- Case studies /Incidents (traditional, online)
- Group assignments
Lectures are very interactive and supplemented with discussion of articles and recent academic papers, a rich set of business cases, a company visit and guest speakers from luxury companies from a variety of industries.
|Continuous assessment||Partial exams||General exam|
Evaluation consists of a written exam at the end of the course aimed at assessing the learning path along the overall program (50% of the total grade) and a teamwork completed during the course focused on suggesting a growth strategic plan to a Luxury Company (50% of the total grade). Extraordinary in class contribution (in particular in discussing cases and participating to debates) is awarded with max one extra point at the end of the grading process.
Evaluation consists of a written exam at the end of the course aimed at assessing the learning path along the overall program (100% of the total grade). Students are expected to study all the material included in the syllabus (i.e.textbook, articles, cases, videos).
- J.N. Kapferer and V. Bastien, “The Luxury Strategy. Break the rules of marketing to build luxury brands”, 2nd edition, Kogan Page, (chapters: 1-2-7-9-10-13);
- Slides, cases and readings discussed in class and not included in the above mentioned textbook are accessible on Course Reserve or saved on the Bboard Platform.
- N. Kapferer and V. Bastien, “The Luxury Strategy. Break the rules of marketing to build luxury brands”, 2nd edition, Kogan Page (entire book;)
- Slides, cases and readings discussed in class and not included in the above mentioned book are accessible on Course Reserve or saved on the Bboard Platform.
All the slides (included mandatory videos), cases and readings discussed in class and not included in the above mentioned books are mandatory and accessible on Course Reserve or uploaded on the Blackboard Platform (Course: 20671).