29
15/02/2015 1 A Love Affair with Luxe Cult of the Luxury Brand: Inside Asia’s Love Affair with Luxury https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 1/29 1 A LOVE AFFAIR WITH LUXE “How come you don’t have the muffler with checks, the one that the Premier wears?” The person asking the question is Jiang Zemin, until recently President of China, the Premier he refers to is none other than the man credited with reforming China’s economy, the dynamic Zhu Rongji, and the checked piece of neck accessory in question is the rather contagious Burberry muffler, which also counts thousands of young Japanese women among its willing victims. The setting of this truelife shopping drama is the Scitech department store in Beijing, not exactly a hot spot for luxury brands in the first place, and certainly not used to having presidents dropping by unannounced. Jiang reportedly makes it to the thirdfloor men’s section unrecognized, before panic ensues and people realize that it’s the President himself sans security entourage. The managing director of the store rushes down to meet Jiang, who is increasingly impatient to see the checked muffler he has heard so much about. Unfortunately, the store does not carry Burberry. No, heads don’t roll, but the next day the local Burberry management is summoned for talks. Pick any spot you like, the department store offers, just put up a Burberry store as fast as possible. A videoconference is hurriedly arranged with chief executive Rosemary Bravo in London, who, tickled by the story, gives the goahead. An accessories corner is set up at a prime location in the store, and now Burberry mufflers are readily available, just in case President Jiang does one of his spot checks again. From presidents to office ladies, from captains of industry to university students, from wellheeled socialites to housewives buying fish in the local wet markets – in Japan, even the PREV Part One: How anNEXT 2 Finding Meaning Cult of the Luxury Brand: Inside Asia’s Love Affair with Luxury Recent Topics Highlights Settings Feedback Sign Out Settings 10 days left in your trial. Subscribe. Feedback Sign Out

1 a Love Affair With Luxe - Cult of the Luxury Brand_ Inside Asia’s Love Affair With Luxury

Embed Size (px)

DESCRIPTION

1 a Love Affair With Luxe - Cult of the Luxury Brand_ Inside Asia’s Love Affair With Luxury

Citation preview

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 1/29

    1A LOVE AFFAIR WITH LUXE

    Howcomeyoudonthavethemufflerwithchecks,theonethatthePremierwears?ThepersonaskingthequestionisJiangZemin,untilrecentlyPresidentofChina,thePremierhereferstoisnoneotherthanthemancreditedwithreformingChinaseconomy,thedynamicZhuRongji,andthecheckedpieceofneckaccessoryinquestionistherathercontagiousBurberrymuffler,whichalsocountsthousandsofyoungJapanesewomenamongitswillingvictims.

    ThesettingofthistruelifeshoppingdramaistheScitechdepartmentstoreinBeijing,notexactlyahotspotforluxurybrandsinthefirstplace,andcertainlynotusedtohavingpresidentsdroppingbyunannounced.Jiangreportedlymakesittothethirdfloormenssectionunrecognized,beforepanicensuesandpeoplerealizethatitsthePresidenthimselfsanssecurityentourage.ThemanagingdirectorofthestorerushesdowntomeetJiang,whoisincreasinglyimpatienttoseethecheckedmufflerhehasheardsomuchabout.Unfortunately,thestoredoesnotcarryBurberry.No,headsdontroll,butthenextdaythelocalBurberrymanagementissummonedfortalks.Pickanyspotyoulike,thedepartmentstoreoffers,justputupaBurberrystoreasfastaspossible.AvideoconferenceishurriedlyarrangedwithchiefexecutiveRosemaryBravoinLondon,who,tickledbythestory,givesthegoahead.Anaccessoriescornerissetupataprimelocationinthestore,andnowBurberrymufflersarereadilyavailable,justincasePresidentJiangdoesoneofhisspotchecksagain.

    Frompresidentstoofficeladies,fromcaptainsofindustrytouniversitystudents,fromwellheeledsocialitestohousewivesbuyingfishinthelocalwetmarketsinJapan,eventhe

    PREVPart One: How an

    NEXT2 Finding Meaning

    Cult of the Luxury Brand: Inside Asias Love Affair with Luxury Recent

    Topics

    Highlights

    Settings

    Feedback

    Sign Out

    Settings

    10 days left in your trial. Subscribe.

    Feedback

    Sign Out

    https://www.safaribooksonline.com/recent/mailto:[email protected]://www.safaribooksonline.com/subscribe/https://plus.google.com/share?url=http://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/ch01.htmlhttps://twitter.com/share?url=http://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/ch01.html&text=Cult%20of%20the%20Luxury%20Brand%3A%20Inside%20Asia%E2%80%99s%20Love%20Affair%20with%20Luxury&via=safarihttps://www.safaribooksonline.com/accounts/logout/mailto:?subject=Safari:%201%20A%20Love%20Affair%20with%20Luxe&body=http://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/ch01.html%0D%0Afrom%20Cult%20of%20the%20Luxury%20Brand%3A%20Inside%20Asia%E2%80%99s%20Love%20Affair%20with%20Luxury%0D%0Ahttps://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/ch02.htmlhttps://www.safaribooksonline.com/u/001o000000PF0qZAAT/https://www.safaribooksonline.com/u/https://www.safaribooksonline.com/s/https://www.safaribooksonline.com/home/https://www.safaribooksonline.com/t/https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/part01.htmlmailto:[email protected]://www.safaribooksonline.com/u/https://www.safaribooksonline.com/r/https://www.facebook.com/sharer/sharer.php?u=http://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/ch01.htmlhttps://www.safaribooksonline.com/accounts/logout/

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 2/29

    fishmongerstuckawaytheircashreceiptsinLouisVuittonbagseverysectionofsociety,everycountryinAsia,isfallingunderthespellofWesternluxurybrands.StrolldownthebusystreetsofTokyotoday,andabarrageofLouisVuittonhandbagscomeatyouonthearmsofmiddleclasswomen.SettledownforadrinkatoneofShanghaishipnightclubs,andpickouttheChanel,Dior,andPradabagsamongthedesignercladcrowd.RidethesubwayinSeoulandmostwomenarehangingfirmlyontotheirLouisVuittonsandGuccis.DropoffyourchildatanupscalekindergarteninHongKongandaquickglanceattheothermumsshouldbringyouuptodateonthisseasonsnewarrivals.MeetingagovernmentofficialinBeijing?ChancesarethesuitisZegna,andthatflashofgoldbeneaththesleeveisaCartierwatch.

    ItshardtoimaginethatluxurybrandswereoncethepreserveoftheEuropeanaristocracy,thatamerehundredyearsagothesebeautifullycraftedpiecesofclothingandaccessoriesweresolelyforthepleasureandadornmentofawealthylite.NowfamedluxuryhouseslikeLouisVuitton,Herms,Chanel,Cartier,andinnumerableothersservetheconsumersofAsia,and,inastrangeturnofevents,itisthepopulousmarketsofthisregionthatarecentraltotheirsuccess.AsiahasgrownintotheworldslargestmarketforWesternluxurybrands,andbetweenthebrandobsessedJapaneseontheonehandandChinaandIndiasrisingnewmoneyontheother,thepresentandfutureofluxeliesquarelyinAsia.

    HowdidtheluxurybrandculturespreadfromEuropeslitetoAsiashoipolloi?Fickleasfashionis,itsbusinesshistorycontainsenduringlessonsforallmarketers,explainingthestrategiesthatchangedsmallfamilybusinessesintohighlyprofitableglobalempires.Importantly,itshedslightonsomethingeverymarketerdreamsoftheseemingparadoxofcharginghighpricesbasedonexclusivitywhilesellingyourproducttoeveryTomoko,Sadako,andYoshiko.Theluxurybrandindustryhasmanagedtodojustthatinfact,thefineartofhavingyourcakewhileeatingittooisitscorebusinessphilosophytoday.

    THE GENESISTheforcesthatcreatedAsiascultoftheluxurybrandweresetinmotionaround100yearsago.

    Intheearly1900s,whiletheBelleEpoqueunfoldedinEurope

    aheadyperiodofprogressandprosperity,whenwealth

    wasshamelesslyflauntedandelaboratewomensdresseswereaprimemethodofshowingfamilystatusatrickleofimportedluxuryproductshadalreadybeguntoflowintoAsia,althoughtheytouchedonlyasmallwealthylite.JapanhademergedfromitslongEdoperiodisolation,andhadbeguntradingwithBritainandEurope,includingjewelryandotherluxurygoods.Afine

    1

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note1

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 3/29

    crystalvasebyBaccaratwassaidtocostmorethantheaverageJapanesehomeofthetime.BurberrysetupshopinTokyointhe1920sthroughalocalimportingcompany.

    InChina,ShanghaiwaslivingitsownversionoftheBelleEpoqueastheParisoftheEastinthegiddy,hedonistic1920sand1930s.Whilehighsocietywomenstucktothegracefulcheongsamforpublicoccasions,menworefineFrenchsuits,andSwisswatchessuchasthosemadebyOmegawhichenteredChinain1895wereprizeditems.

    RoyalfamiliesinIndiahadanaturalaffinityforEuropeanluxurybrands,shoppingontripstoLondonandParis,orsimplycommissioningpiecesfromthelikesofVuittonandCartier.ThefamedPatialanecklacewasmadebyJacquesCartierfortheMaharajaofPatialain1928itsashowstopperwith2,930diamondstotaling1,000carats,includingthe234caratDeBeersdiamond,theseventhlargestintheworld.

    ThencamethecrunchinonewayoranotherforalltheAsiannations.TheSecondWorldWarknockedthebreathoutofJapan.InnewlyindependentIndia,itbecamemorechictowearkhadiahandspuncottonclothsportedbyadherentsofthefreedommovementthanluxuriesimportedfromWesterncountries.InCommunistChina,youriskedyourneckifyoudeviatedfromclearlylaidoutstylecodes,andanyexpensiveitemsyourfamilymighthavepossessedwereconfiscated.IndependencestrugglesinSoutheastAsialedtotheAmericansleavingthePhilippinesin1946,theDutchdepartingIndonesiain1949,andtheBritishquittingMalaysiaandSingaporeinthelate1950s, buta

    combinationofpatriotismandpovertymeanttherewasverylittleplaceforimportedluxe.InmanyAsiancountriesprotectionistpolicieslimitedtrade,andtheimportofluxuryitemswaspunishedwithheftytaxes,iftheywereallowedinatall.Harshpostliberationeconomicrealitiesmeantthatpeopletoiledtorebuildtheircountryandthemselvesmakingendsmeetandsavingfortheirchildrensfuturewerethepriorities.Forallpracticalpurposes,importedluxurybrandswentintohibernationinAsiaforseveraldecades,onlyslowlyreappearinginthe1970s.

    AcenturyofworldfashionasseenthroughtheChinesecheongsam

    Evenacenturyago,AsiawastakingitsfashioncuesfromtheWest.HerewetracetheimpactofEuropeandesignersandHollywooddivasonthecheongsamthegraceful,bodyskimmingChinesedresswithsideslitsthatevolvedintandemwithinternationalfashiontrends.Shanghai,Chinasstylecapitalinthefirsthalfofthetwentiethcentury,dictatedthelook,passingthemantleontoHongKongaftertheCommuniststookover.

    1920sThecheongsamwasslimmer,thesilhouettewasslinkier,copyingthebiascutsofChanelthesleevesgotshorter,theslit

    2

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note2

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 4/29

    higher.Hairwasstraightandbobbed,skinwaspaleandlips,red.ThinkGaronne.

    1930sThecheongsamwasanklelength,thefeelwaslighter,sleeveswerecuttorevealtheunderarm.Hairwaspermed,eyebrowsdrawnthinandarchedlikeGretaGarbos.

    1940sThecheongsamwaswornwithjacketswithpaddedshouldersandplatformshoeslikeJoanCrawfords.

    1950sThebodywasmorestructured,aChinesehourglass,laChristianDiorsNewLook.Hairwasbrushedintosleekrolls,strongeyebrows,smolderingeyeslikeAvaGardners.

    1960sThecheongsamwasshorterandmoreboxy,patternsandprintsweremuchbolder.Hairwasteasedupbirdsneststyle.ThinkYvesSaintLaurentorPierreCardin.

    1970sThecheongsamwaspairedasatunicwithbellbottoms.Psychedelicprintsreflectedtheswingingseventies.

    1980sApowercheongsamwithamorepaddedshoulder.VeryGiorgioArmani.

    TodayThecheongsamdisappearsfromdailylife,onlytobereincarnatedasfashionableeveningwearbyChinesedesignhousessuchasShanghaiTang.

    AdaptedfromHongKongbornfashiondesignerVivienneTamsbookChinaChic(NewYork:ReganBooks,2000,pp27074).

    Enjoy Safari? Subscribe Today

    https://www.safaribooksonline.com/subscribe/

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 5/29

    PhotoscourtesyofValeryGarrett,KareemJalal,ElizabethChung,andShanghaiTang.

    Inthemeantime,therewasplentyofactiononthecouturefrontinEuropeinthefirsthalfofthecentury,creatingmanyofthefashionhousesthatAsialovestoday.TheelaboratedressesthathadwomentrussedupincorsetsgavewaytomorecomfortableclothingthanksasmuchtotheworldwarswhichforcedwomentoworkinpracticaloutfitsastotheimaginationofdesignerslikeCocoChanel,whopromotedtheGaronnelook.AftertheSecondWorldWarChristianDiorbroughtbackthestarsinwomenseyeswithhisextravagantNewLook,waistsnippedintocreateanhourglassfigure.ItwasatimeofdramaticupheavalsinEuropewar,occupation,liberation,economicscarcitybutdespiteupsanddowns,Parisretaineditssenseofstyleandremainedtheworldsfashioncapital,thankstodesignerslikeJeanneLanvinandPierreBalmain,whoincidentallycountedthe

    QueenofThailandamonghisloyalcustomers.

    TheUS,wheretheuppercrusthadreliedonParisforimportedcouture,slowlystartedcomingintoitsownwiththeemergenceof

    3

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note3

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 6/29

    localdesignerslikeClaireMcCardellandHattieCarnegie.PariswasstillthemothershipMcCardellstudiedfashionthere,CarnegieretailedFrenchlabelsbutbothweredesigningforAmericansensibilities.WallisSimpsonchoseAmericanborndesignerMainbocher,thenbasedinParis,todesignherweddingdress.(Incidentallyherhusband,theexkingofEngland,hadhistrouserstailoredinNewYork,preferringthemoreadvancedAmericanstylebeltsandzipstobracesandbuttonsSavileRow

    atthattimeconsideredbeltsandzippedfliestobevulgar. )

    USdesignerscontinuedtoriseinthe1970sCalvinKleinandRalphLaurenamongthemdefiningamoreleisureorientedcasualeleganceastheAmericanstyle.Theyaddedacompletelynewdimensiontothefashionequationsavvymarketing.ThelikesofBrookeShieldsadvertisingNothingcomesbetweenmeandmyCalvinsandtheuproarthataccompanieditshowedtheEuropeansthepowerofbrandingunleashedthroughthemassmedia.Itwasaturningpointinthehistoryoffashion:Suddenlyitwasntjustthedesignorproductthatwascritical,itwastheimageandlifestylethatthebrandprojected.RalphLaurencreatedanempirethroughmarketingalifestyleBritishlandedgentryreinterpretedformodernAmericastartingwithPolomenswearandextendingtowomen,children,home,formals,casuals,andjustabouteverythingelse.Theeraofmassmarketingofluxuryhadbegun,aforcethatwouldbeadoptedrelentlesslybytheFrenchinthe1990sastheysetabouttargetingawiderconsumerbase.

    TheperiodaftertheSecondWorldWaralsosawItalyemergeasaserioussupplieroffineclothingandaccessoriesforEuropeanreadytowearlabelsabitlikeChinaspositiontodayanditwasonlyamatteroftimebeforethenationemergedasamajorstylesetter.Theingredientswerealwaysthere:atraditionoffinecraftsmanshipwithleatherproductsandtailoredmenssuits,anabundanceofexcellentqualitymaterials,modernproductiontechnology,and,mostimportantly,apassionforladolcevita.IfFrancewasaboutluxuriouscoutureandAmericawasaboutcasualelegance,Italiandesigncombinedbothitgavethefeelofpureluxuryinreadytowearclothes.ThinkArmanisuit,exquisitefabric,stylishlycut,immaculatelyexecuted,engineeredforcomfort,theworkofamasterdesigneratapricethatwasnttotallyoutofreachapowerfulpackageinfurtheringthespreadofluxe.

    Atthesametime,theItaliansshowedthattheyhadwhatittooktodocoutureValentinowasamongtheearlydesigners,hissumptuouscreationsfindingfavorwithglamorouswomenofthetime,includingJackieKennedywhochoseaValentinodressforherweddingtoAristotleOnassis.WhiletheAmericansweremastermarketers,theItaliansexcelledatcreatingtherightkindofbuzz,anotherpowerfultoolinspreadingtheluxeculture.Itcamenaturallytothem,withflamboyantfigureslikeGianniVersace

    4

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note4

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 7/29

    creatingasmuchnewsashisclienteleofprincesses,stars,andhighsocietywomen.ItalyroserapidlyandtodayMilanisasmuchafashioncenterasParis.

    ASIAS TORRID AFFAIR WITH LUXEBackinAsia,itwastimeforJapantoriseanditdidsoontwofronts.Itproducedadaringbunchofdesignerswhosprangontotheinternationalsceneinthe1970sandearly1980sKenzoTakada,KansaiYamamoto,IsseyMiyake,YohjiYamamoto,andReiKawakubo.Thelasttwoinparticularhadthefashionworldgaspingwithshockanddelight,theircreationsoftatteredragsacompletedeparturefromanythingParishadseenbefore.Onthesecondfront,Japanproducedanenthusiasticconsumerbasethathasgrowntobethebackboneofthegloballuxuryindustry.Japanseconomicriseinthe1970sandtheheadyyearsofthe1980sbroughthugebuyingpowertoitspeople,andtheytooktoEuropeanluxurylikeafishtowater.Luxebecamethenationalobsessionbythe1990severythirdwomaninJapanownedapieceofit.Withluxurygoodsbeingpurchasedonsuchascale,soonthetopbrandswerecountingtheJapaneseastheirsinglelargestconsumersegment.

    Japanesetouristshoppersfirstbecameanoticeablephenomenoninthe1970sandtheirnumbersballoonedtogiganticproportionsinthe1980sand1990s.Europesluxuryhousessatupandtooknotice,andstartedsettingupshopinJapanGucciopeneditsfirststoreinTokyoin1972inresponsetounprecedenteddemandfromJapanesetouristsinEuropedittoforLouisVuitton,whichenteredJapanin1978.SoontheJapanesewerenotonlyturninginhugesalesathome,butalsoshoppingsomaniacallyinEuropethattheywerealmostsinglehandedlysupportingsalesofluxurygoods.(JPMorganestimatesthattouristsrepresentmorethan80percentofLouisVuittonsChampsElysesstoresales.

    )ThewiderJapanesetouriststraveled,themorebrandstores

    wereopenedatalltheirfavoritedestinationsevenremoteislandslikeGuamhadwellstockedlardersofluxe.TheyjumpstartedluxuryretailalloverAsiaHongKongsalesskyrocketedinthe1980sthankstothem,dutyfreesalesinSeoulandTaiwantookoffwiththeirblessing,andevenjustemergingmarketslikeBangkokreportedheartysalestotheJapanese.Storestheworldovergeareduptocatertothem,pricetagsandlabelswererenderedinJapanese,andsalesstaffweretrainedtospeaktheirlanguage.(OneofourmoreendearingsightswasonRomesluxurystorestuddedViaCondotti,witnessingasvelteItaliansalesgirlservingademureJapanesewoman,thewholetransactionconductedinfluentJapanesewithplentyofbowingonboth

    sides. )

    ThedevelopmentofeverysuccessiveluxurybrandmarketinAsiahasfollowedasimilarpatternofgrowingeconomicprosperityandthegovernmentswillingnesstobekinderon

    5

    6

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note6https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note5

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 8/29

    policiestowardsuchgoods.AfterJapancameHongKong,whichexperienceditsownheadyriseinthe1980sand1990s,withmuchmoneybeingmadebyenterprisinglocalsonthestockmarketandpropertyspeculation.Sureenough,alongwithmoneycamearobustappetiteforluxe.Today,HongKonghasdevelopedintoaluxuryshoppingMecca,offeringthebestselectioninAsia(outsideofJapan),atthebestpricesinAsia,attractingalargenumberoftouristshoppers.Majorbrandshavesixorsevenlargestoresinthecity,farmorethantheyhavein

    Paris,London,orNewYork. Armanihasitsglobalflagshipin

    HongKong,afeastofeightoutletsspreadover34,000squarefeetonthreefloorsofChaterHouseinCentral:GiorgioArmani,EmporioArmani,GiorgioArmaniCosmetics,ArmaniCasa,ArmaniFiori,ArmaniLibri,ArmaniDolci,andahugeArmaniBarinconcept,scale,andstyle,thiscollectionofstoresiscuttingedgeretail.

    SouthKoreaandTaiwansluxurymarketsbegangrowinginthe1990saftertheirgovernmentsdroppedimportdutiesandloosenedcontrols.SouthKoreaboastsitsownRodeoStreet,withswankflagshipsandextremelywellstockeddepartmentstores.Moreimportantly,theSouthKoreanconsumershavegonelabelcrazyasmanyas50percentofSeoulwomenreportedlyownaLouisVuittonbag,althoughnooneknowsforsurehowmanyofthosearefake.ForgetkeepingupwiththeJoneses,hereitisallaboutoutdoingtheKimsandChungs.ThestoryinTaiwanfollowsidenticallines.

    ThatbringsustoChina.EveryonewaitswithbatedbreathandtoweringexpectationsasChinatakesitsfirstwobblystepsinManoloBlahniks,teeteringheadlongintotheworldofbrandedluxury.TheChinesepeoplehavetakenDengXiaopingsexhortationTogetrichisglorioustoheart,andindeedmanyaregettingseriouslywealthy.Whatpuzzlesmanypeople,however,ishowacountrywithpercapitaGDPoflessthanUS$2,000canbeasignificantluxurybrandmarket.Theanswerliesinunevendevelopment:Selectedcitiesandregionsareemergingaspocketsofwealth,andtheoneswithmoneyareinahurrytospendit.Itsasifadamhasburstand,withnochecksinplace,Chinasgrowingranksofnouveauxrichesaregorgingthemselvesonnewfoundgoodies.ConspicuousconsumptionisthenameofthegameintodaysChinaandeverymajorluxurybrandisalreadytheretoplayalong.

    ReminiscentoftheJapaneseinthe1980s,theChinesetouristshopperismakingheadsturnandjawsdropinthe2000s.ThemainlandtouristhasrapidlybecomethemainstayofHongKongsluxuryretailsector,somestoresreportingasmuchas70percentoftheirsalestothissegment.WithvisarestrictionsbeingrelaxedandmanyWesterncountriesgivinggrouptouristvisas,thenumberofChinesetouriststoEurope,theUS,Australia,andindeedtherestofAsiaisrisingsteadily.Thisnewclassoftourist

    7

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note7

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 9/29

    isacquiringareputationforspendinggenerously,routinelypickingupluxurybrandsasgiftsforfriendsandfamilybackhome.MembersofasmalllitesegmenthavestartedflyingtoParisandMilantorefreshtheirwardrobeseveryseason.

    Andnowtheslumberinggiant,India,isfinallyawakeningitseconomysizzlingatamorethan7percentgrowthrateandisshowingallthesignsoffallingunderthespellofluxurybrands.IndiaalwayshadathinuppercrustofoldmoneythatdiscreetlyshoppedinLondonandNewYorkforluxuryessentials.Nowclankingnewmoneyisjoiningthespendingspree.Theseareearlydays,withonlyahandfulofluxurybrandsdroppinganchor,andadmittedlytheresalotofspadeworktobedoneintermsofdevelopingaretailinfrastructureandbuildingbrandawareness.Buttheseareexcitingtimeswhenfundamentalsocialchangesaresweepingaonceconservativecountry.ThespurtinITandoutsourcingbusinessesisputtingsubstantialmoneyinyounghands.Themediaexplosionisbringinginglobalvalues.SplurgingoncreditisreplacingGandhianfrugality.Bollywood,whichhasastrangleholdonthenationscollectivepsyche,isdepictingextremelyliberalfashionsinitsfilms.Midnightschildrenaregivingwaytoliberalizationsoffspringfertilegroundindeedforluxurybrandstotakerootandprosper.

    DEMOCRATIZATION OF LUXURY IN THE 1990SWhatcausedtheexplosionofluxurybrandsinAsia?Afortuitousalignmentofthestars,youmightcallit.Inthe1990stheEuropeanluxuryindustrywasgoingthroughamajorchange,sheddingitstraditionalfamilybusinessmindsetandreinventingitselfasalean,meancorporatemachinewithglobalretailingambitions.Forseniormanagement,changinghemlinesbecamealesserprioritythangrowingtoplinesandfatteningbottomlines.Spunkynewcreativebloodwasinstalledtoenergizeagingluxuryhouses,andmoreaffordablereadytowearandaccessorieswereusedtowooyoungerandmoremainstreamconsumers.Democratizationwasthebuzzword,throwingthedoorsofexclusivityopentoordinarypeople.AtthesametimetheeconomiesofAsiawereboomingandafreshlyprosperousgenerationwasraringtoacquirethenewfangledsymbolsofwealth.Thefrugallivingethicoftheirhardworkingparentsslowlyevaporatedmoneymadeeasilywasspentjustaseasily,andthecultofluxurywentfrommildinfatuationtomanicobsessioninthespaceofafewquickyears.

    Hautecouturefinallyranoutofcommercialsteaminthe1970s,

    withthenumberofclientssaidtohavedwindledto3,000, not

    enoughtokeepanindustrygoing.Theroleofhautecoutureshiftedfrommaincoursetoappetizerbigrunwayshowsusedtospinoutmarketingpropaganda,onthebackofwhichrantherealmoneymakingbusinessofreadytowearandaccessories,apracticethatcontinuestoday.Thenewclientswereyoungerand

    8

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note8

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 10/29

    theyneitherhadthebigbucksneededforserioushautecouture,norwasittheirstyletobetieddownbyelaborateoutfitsinthefreespirited1970s.Readytowearandaccessorieswerealsotheidealvehicleforexpandingintonewmarkets,whichbecameanecessityasluxuryhousessearchedforfreshavenuesforgrowth.DesignerslikeYvesSaintLaurentopenedboutiquesworldwide.Licensingbecameacommonmethodforenteringnewmarkets,anditsmasterpractitioner,PierreCardin,builtanempirelendinghisnametoagrowingandattimesbizarrelistofproducts,includingchocolatebarsandfryingpanstodayPierreCardinhas

    900licenseholdersin140countries,27inChinaalone.

    FranchisingwasalsoapopulardistributionmethodforEuropeanbrandstoextendtheirreach.

    However,manylicenseestookagreatdealoflicensewiththebrandsundertheircare,theproductoftenbeingcheapanddamagingtothebrandname,completelydisastrousintheluxurycontext.ManyAsianfranchisees,ontheotherhand,mayhavestucktothebriefintermsofhowthebrandoperationwasrun,buttheyhadatendencytomilkitdry,alwaysreluctanttoinvestinthemarketingexpendituresonecessarytobuildandsustainaname.Asaconsequence,manybrandsunderperformed.Luxurycompaniesawoketotheneedforcontrolandsteppedintotheretailingarenathemselves.Theyboughtbacklicensesenmasseforexample,YSLhadboughtback152licensesby2001. Theycentralizedproductionandintegratedvertically,backwardsandforwardstheluxurycompaniessimplytookchargeofthewholeshowfromdesign,production,andmarketingtoretailing.Costcontrolbecameamajorpriority.Profitswereinfashionagain,andrapidgrowthwasthenewmuse.Frombeingprivatelyowned,manycompaniesalsonowansweredtothestockmarket,amoredemandingmistressthananyfashionistatheyhadeverserved.

    Overthe1990s,luxurycompaniesadoptedaseriesofstrategiestospreadtheirgospel.

    First,thestrategyofdistributioncontrolevolvedintomoreandmoreelaboratefreestandingstores,themostdizzyingexamplesinTokyowherebrandcathedralshavesprungup,risingseveralfloors.Forexample,thePradaEpicenterinAoyama,Tokyoisafuturisticsixstoryglassconfectionwithcaveliketubesthatserveasanintimateretailsetting.ThequalityofexecutionatthesenewstoresisoutstandingalloverAsia,andinTokyosomearesobeautifulyoufeeltheurgetokneelandworshipandofcourse,walkoutblessedwithapieceofluxe.Theirroleinbringingthebrandaliveandofferingtheconsumeranintimate3Dexperiencehasmadetheseflagshipsyetanothermarketingtoolintheluxuryarsenal.

    Secondly,brandslikeChristianDiorreincarnatedthemselves,virtuallyabandoningtheiroldavatarforayounger,sexierone,

    9

    10

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note10https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note9

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 11/29

    whichstruckhomewithAsiasrelativelyyoungerconsumers.InmostAsianmarketsthebiggestspendersonluxurybrandsareyoungwomenbetweentheagesof20and30.Appealingtotheseyoungwomenmeantrecalibratingabrandscoolquotient,thatslipperyintangiblethatdefineshowinthebrandisamongtheirpeergroup,howwelltheyrelatetoit,howrelevantitistotheirlifestyle.Itentailedsheddingthebrandsstaidoldimageforayouthfulone,orwideningitsappealbyaddingtrendierproductslikeadenimhandbagtotheclassicrepertoire,asLouisVuittondid.

    Thirdly,theluxuryindustryplayeditsmastermove,thelogoficationofthehandbag,plasteringinstantlyrecognizablesymbolsinacontinuouspatternalloverthebag.ForAsianconsumersthiswasagodsend:Itdidthejoboflettingpeopleknowyouwereofacertainclassandstandinginsociety.Weexaminethestatusdefiningroleofluxurybrandsingreaterdepthinthenextchapter,buthereweemphasizethatthelogoficationofbagswasthesinglemostimportantfactorinspreadingtheluxurybrandmaniainAsia.LuxurycompaniescottonedontothesimpletruththattheLVmonogramandtheGucciGswerewhatAsianconsumerswereafter,andsooneveryotherbrandfromCoachtoDior,FenditoFerragamowasdoingitstakeonthemonogram.Itisalessonthatmarketersofotherconsumergoodscanlearnlogolineshavegrownsofastthattheyaccountforupto80percentofsalesforsomebrands. Asiawasinthebag,sotospeak.

    Fourthly,luxurybrandsstretchedtheyslicedanddicedapersonslifeandofferedaproducttofiteveryaspectofit,insideout,24/7,whereverheis,whateveractivitysheisengagedin.Abrandmighthavestartedlifeincouture,itsstrengthmightlieinhandcraftedleathergoods,oritmighthavebuiltareputationforfinejewelrybutnowitisextendingitsequityoveraspectrumofproducts.Everybrandseemstobefirmlyheadeddownthepathofprovidingafullsuiteofproductsandthatsuiteitselfgetsredefinedandenlargedeachday.Goingforaholidayonthebeach?TryaPradabikiniandD&Gflipflops.Skiing?Chanelhasarangeofglamourskiwear.Riding?HowaboutasaddlefromHerms?Goingtotheoffice?MaywesuggestaDunhillbriefcasedesignedtocradlealaptop?Wantthetime?CheckoutLouisVuittonslatestlineofwatches.Somethingforbaby?Hermshasarangefornewborns.Adiaperbagformommy?BabyDiorhasthelook.AniPodcase?TryGucci.Loungingathome?Versacesofa.Goingtosleep?RalphLaurenbedsheets.DecoratingtheChristmastree?ArmaniCasahasmodernbaubles.Thisinvasionofdesignerbrandsintoeverydetailhastakentheculttoanotherlevel,andbyincreasingthecatchmentarea,luxingupeveryaspectoflife,companiesarerakinginevenlargerrevenues.

    Luxuryhasntjustbeendemocratized,itsbecomeinescapable.

    11

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note11

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 12/29

    THE MALLING OF ASIAHandinhandwiththeeconomicboomandurbanizationinAsiacameanexplosioninretaildevelopment,therebyprovidingthenecessaryinfrastructureforluxurybrandstores.ItstartedwithdepartmentstorechainsinJapan,suchasMitsukoshi,Sogo,Isetan,Seibu,andDaimaru.SoontheJapanesebecamesogoodatsettingupdepartmentstoresthattheyweredoingitinotherAsianmarketslikeHongKong,Taiwan,andSouthKorea.ElsewhereinAsiasmegacitiesshoppingmallsstartedspringingupinthe1980s,atrendthatacceleratedinthe1990s.Theyofferedamerrymixofretail,food,andentertainment,aonestopleisuredestinationthatpulledinthecrowds.IncitieslikeManilaandBangkok,mallsalsoplayedaverybasicroleinprovidingachilledatmosphereratherthanfryinginthehotsunoutside,loungearoundinthecoolerclimesofanairconditionedmall,evenifyouonlywindowshop.

    ThemallingofAsiaandhereweusetheterminabroadsensetoincludethevarietyofretailcenterformatsthatdottheurbanlandscapehasplayedmidwifetothebirthofthecult,makingavailableupscaleretailspace,theambienceandatmosphericsconsistentwiththehighendimagethatluxurybrandsneed.Infact,inmanyupandcomingAsiancitiesthelackofsuitableretailspacehassloweddownthemarchofluxury,forcingfriendsLouisVuitton,Gucci,Prada,etal.tospendthefirstfewyearsinimprovisedstoresinthelobbiesoffivestarhotelsuntiltheretailinfrastructurecatchesup.

    Moreimportantly,themallingofAsiahasprovidedareallifesettingforconsumerstolearnaboutluxurybrandsandthelifestyletheydenote.ThisisthethemethatsociologistKenYoungamplifieswhenhecallsshoppingmallsopenaccessacademiesofsocialdistinction. Aspeoplewanderthroughamall,lookingatshopwindows,tryingoutproducts,observingothershoppers,theyaretakinginimportantlessonsinconsumptionbehavior.Whatismore,theyarelearningtoslotbrandsintostatushierarchies,pickingupcuesfromthestoresettingsandlocation.Oftenthecheapandcheerfulbrandsareonthelowerfloors,andasyourisehighersodoesthecaliberofthebrandand,needlesstosay,theprice.Howdoyouwanttopackageandpresentyourself?Overtime,andaprocessofhitandmiss,youlearntherightbrandsandproductstohelpyoucreatetheidentityyoudesire.

    THE WORLDS BIGGEST MARKET TODAY: ASIATheAsianluxurygoodsmarketconstitutes37percentoftheglobalmarketofUS$80billion(Figure1.1).TheactualsizeofAsianspendingishigherbecauseoftheAsianpenchantforshoppingabroad,ablyledbytheJapaneseandChinese,easilyaddinganother1520percenttothecontinentsshare.Byconservativeestimates,itwouldbefairtosaythatAsians

    12

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note12

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 13/29

    consumehalftheworldsluxurybrands(Figure1.2).

    Figure1.1Asiaistheworlds#1luxurymarket:GeographicbreakdownSource:Authorsanalysis.

    Figure1.2MajorbrandsearnmorethanhalftheirrevenuefromAsianconsumers.Source:JPMorgan,EuropeanLuxuryGoodsSector,2November2005.

    WithinAsia,Japandominateswithasumosized62percentshare.HongKonghasalwaysbeenthesecondbiggestcurrentlya12percentsharebutthatsapositionitwillsoonhavetocedetoChina,whichisgrowingbyleapsandbounds.SouthKoreaisthenextsubstantialmarketwithan8percentshare.TaiwanandSingaporecontribute23percenteach.OtherSoutheastAsiancountriesThailand,thePhilippines,Indonesia,andMalaysiaarestillrelativelysmallluxemarkets,butthereisaselectgroupofextremelywealthybusinessfamilies,mostlyofChineseorigin,whoregularlyshopabroad,eitherinHongKong,Singapore,orEurope.

    Letslookatthingsfromabrandsperspective.Ifyoursisamajorbrand,expecttogetathirdtohalfofyoursalesfromAsia

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 14/29

    (pluslotsmorefromAsiantouristsflockingtoyourstoresinEuropeandtheUS).Ofcourse,theJapaneseconsumerwouldbeyourdarling,aluxeglutton,gorgingheartilyathomeandthenfeastingabundantlyabroad.IfyouremovedtheJapaneseconsumermomentarilyfromtheequationafeatthatcouldonlybeaccomplishedbydraggingherscreamingandshoutinginamostunJapanesemannerthenyoursaleswouldsimplytakeanosedive.ThatisthedegreeofluxebrandsdependenceonJapan.

    HowdeeplyentrenchedistheluxehabitinAsia?InJapan,anestimated25percentoftheadultpopulationownsaluxuryproduct.ForotherAsiancountriesthepenetrationofluxeisabouthalfofJapans.AsurveybymarketresearchfirmSynovate,coveringHongKong,SouthKorea,andSingapore,foundthatbetween12and15percentofAsianshadpurchasedaluxurybrandinthelastsixmonths. ThesamesurveyvalidatedwhatisabundantlyclearonthestreetsAsiasloveforthedesignerbag.InHongKong,awhopping64percentofluxeshopperssurveyedhadboughtleathergoodsinthepastsixmonths.

    WhatareAsiasfavoritebrands?AsiansmakenobonesaboutthefactthattheyareafterfamousbrandsthetermforluxurybrandsinseveralAsiancountriestranslatesintojustthat.SowhileAsiaisahighlycompetitivemarketwithover100companiessluggingitout,consumersaremoreinterestedinthewinners.Basedonsalesfiguresandbrandimageindicators,wehavecompiledAsiasTopTen(Table1.1).ItconfirmswhateveryluxelovingAsianalreadyknows:ThereisnothingtobeatthecharmsofLouisVuittonandRolex.

    Wherewillfuturegrowthcomefrom?Theansweristhesameasforeveryproductcategoryintheworld:ChinaandIndia,thetwinenginesofgrowthinthetwentyfirstcentury,Chinaofferingthemoreimmediateopportunity,Indiathelongertermplay.BernardArnault,chairmanandCEO,LVMHGroup,remarkedinthecompanysannualreportthatgeographicalgrowthopportunitiesaremainlytobefoundinAsia,mostnotablyChina,amarketthatisawakeningtoluxuryproducts. Heshouldknow:LouisVuittonhasseenitsbusinessgrowbycloseto50percenteveryyearsinceitenteredChinain1992,anditwasprofitablefromyearone.Needlesstosay,ArnaultseesIndiaasanotherpromisingterritoryforthefuture.

    Table1.1LouisVuittonisAsias#1favorite

    13

    14

    15

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note15https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note13https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note14

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 15/29

    GivenChinasgunghogrowthtrajectory,thequestioniswhenitsluxurymarketwillsurpassJapans.Thegeneralexpectationisaround2014,aboutthesametimethatChinaseconomyisexpectedtoovertakeJapans,butitmaywellhappensoonerforseveralqualitativereasons.ThedelicateJapanesecultureallowsforonlysubtledisplaysofwealth,butinChinaitisallaboutblatancyyouwinrespectandadmirationforachievingsuccess.TheJapanesearediligentemployeeswhotoilhardinbigcorporationsforfixedsalariestheChineseareanationofaggressiveentrepreneursintentonmakingitrich.JapanesemenallowtheirwivestoshopfortheirclothesChinesemenhaveledthefashionmovementinChina,andthemensmarketisbiggerthanthewomenseventoday.Japanesewomentendtobefollowers:Theyallrushintothesameshops,buyingupthesameproducts.Ofcourse,fashionbydefinitionhastohaveapopularfollowing,butthefactthatChinesewomenaremotivatedbytheneedtostandoutasagainstmergeintoaLouisVuittoncarryingcrowdmeansthatthereismoreroomforavibrantfashionscenetoemerge.AndthentherestheChinesetrumpcard,theShanghainesewoman,bornwithinbuiltfashionantennaeandatankfulofsassandspunk.ShellmakesurethattheParisoftheEastregainsitsrightfulplace.

    IsChinathenewJapanforluxurybrands?Onlyinsofarasitpresentsanuntappedpotentialformassivelongtermgrowth.Forthemostpart,ChinaissimplythenewChina.Itoffersitsownsetofopportunitiesandchallenges.Thereisplentyoflegworkstilltodoandrobustprofitabilityisdowntheline.IanHawksworth,executivedirectorofHongKongLand,whichholdsthemostprestigiousretailpropertyportfolioinHongKong,comments:

    Itsnotaprofitablemarketdomesticallyinthenextthreetofiveyearsbecauseofthecostofdoingbusinesstherethe

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 16/29

    establishmentofnewstores,theestablishmentofdistributionchannels,thetaxationpositiononluxurygoods.AsWTObites,themarginswillbecomeeasiertoachieveinChina.

    THE RISE OF SHOWBUZZTwomajorforcesfueledthespreadofluxury:theconglomerationoftheluxebusiness,andtheemergenceofanewkindofmarketing,partshowbiz,partprofessionalbuzzwecallitshowbuzzmarketing.

    Conglomeration of Luxury

    Inthegoodolddaysthedesignerwasthebrand.JeanneLanvinstartedthehouseofLanvin,GabrielleChanelwastheforcebehindtheHouseofChanel,ChristianDior,HubertdeGivenchy,YvesSaintLaurenttheyallbroughttheirowntalent,personality,andmystiquetobearincreatingacouturehouseintheirname.Theymayhavebeenapprenticedunderanestablishednamebeforeventuringoutontheirown,asYvesSaintLaurentwasunderDior,ortheymayhavetakenthehelpinghandofasavvybusinesspartnertobankrollthem.Oritmayhavebeenafamilyaffair:AldoGuccicarryingonwhatdadGucciohadstarted,orGeorgesVuittonbuildingonthefinetraditionofparentLouis.Thenameonthebusinesswasthenameofthedesignertheirvisionledthefutureoftheirdesignhouse.Theymayhavefloggedthename,asPierreCardinandYvesSaintLaurentdidusinglicensingarrangementstospreadtheirwingstofarflungplaces,squeezingasmuchprofitaspossibleinonelifetimebutatleastitwastheirownnametheysold.Thedesignerwasintegraltothebrand,andthebusinessmodelwassimple:thedesigner,theirname,theirbusiness.

    Allthatchangedwithoneman,BernardArnault.SofartheFrenchhadexcelledatdesigningfashion,butthisFrenchmantookagiantleapoutsidetheboxandsetaboutdesigningthebusinessoffashion.Arnaultdidntseethepointoflimitingthescopeofacompanybyrunningitlikeamomandpopstore,albeitahighfashionone,whentherewasthepossibilityofconqueringtheworldandrakinginhighersalesandhigherprofits.Andhedidntseethepointoffollowingrules.Inhisvisioneverythingwasinterchangeable,designerscouldbehiredandfired,brandscouldbeboughtandsold,managementchanged,andcompaniesrestructured.Big,thatswhatArnaultwasafter,abigconglomerateofbrandswithbigrevenuesandbigprofits.Likeagameofluxemonopoly,hesetaboutbuyingprestigiousbrandsandbuildingthemintolargerprofitgeneratingmachines.Withonebrandyouhadonlysomuchreach,financialmuscle,andnegotiatingpowerwithastableofbrandsyoucalledtheshots.

    Arnaultsetthetrend,andotherluxemonopolyplayersfollowed.Thispursuitofgreatersizeandgreaterprofitshelpedtheluxury

    16

    17

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note16https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note17

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 17/29

    culturespreadlikewildfire.Theformulaofthe1990sconsistedoffindingnewbrands(eveniftheywereacenturyold)tobuy,findingahotnewdesignertobreathelifeintothemandahotnewmanagementtomatch,findingnewproductstostampthosebrandson,findinglargenewconsumersegmentstobuythem,andfindingnewmarketsallovertheworldtoselltheminallthetimeexercisingcontroloncosts,controlonproduction,controlondistribution,controlonbrandexpression.Controlfreakswithexpansionisttendencies,youmightcalltheseluxuryconglomerates,justthesortofcompaniesthatstockmarketslove,soofcoursegoingpublicbecamethemode,listingonbothsidesoftheAtlantic,bringingincashtofinancealltheexpansionactivity.

    TheconglomerationoftheluxurybusinessbeganinearnestwhenArnaulttookoverChristianDiorinthemid1980s,buyingitsholdingcompany,abankrupttextilefirmcalledBoussac.HefollowedthatwitharatheracrimonioustakeoverofLouisVuittonMotHennessyin1989,andhesbeenshoppingaggressivelyeversince. Theresult:anempireofover50brandswhichbroughtin13.9billioninrevenuesin2005 thatwillkeepyoucoveredinluxuryfromheadtotoeandinfinespiritstoo.ArnaulthasfashionandleathergoodsbrandssuchasGivenchy,Loewe,Celine,Kenzo,MarcJacobs,Fendi,DonnaKaran,andmore.Hehaspickedupanequallyimpressiveportfolioofcosmeticandperfumebrands,ParfumsChristianDiorandGuerlainamongthem.HehasboughtwatchbrandslikeTAGHeuer,Ebel,Zenith,andChaumet,andhasnowextendedtheLouisVuittonnameintowatches.Hesgottopqualitywinesandspirits:Mot&Chandon,DomPerignon,andVeuveCliquot,whichisapparentlythebeverageofchoiceatthefamedLouisVuittonstoreopeningparties.HesalsointoretailingwithdesignercosmeticsatSephoraandsellingluxurytotravelersatDFS.Thejewelinthecrown,however,remainsLouisVuitton,itsmonogrammedwaresspreadinglikeanunstoppableepidemic.

    IfLouisVuittonisthebread,butter,andjamfortheworldsbiggestluxurygroup,theFrenchbrandCartierplaysthesameroleforthesecondlargestgroup,SwitzerlandsRichemont,startedbySouthAfricanbillionaireAntonRupertin1988andlaterrunbysonJohann.Richemontisanotherwellspreadconglomeratewithamajorinterestinwatchesandjewelry,whichaccountsfortwothirdsofitsbusiness. Ithasadrawerfulloftopdrawerwatches:Piaget,Baume&Mercier,VacheronConstantin,IWC,JaegerLeCoultre,andLange&Shneamongthem.TheresVanCleef&Arpels.TheresMontBlanc.TheresAlfredDunhill.Inotherwords,theresacollectionofbrandsthatAsialoves,especiallyChina,wherepeoplebuyCartierwatchesbythedozenasgifts,aswellasenoughblazersandbriefcasestokeepDunhillsretailnetworkof50pluspointsofsaletickingaway.Intermsofsales,theRichemontGrouphasaboutathirdofLVMHs.

    18

    19

    20

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note20https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note19https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note18

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 18/29

    ThethirdsignificantluxeconglomerateistheGucciGroup.ItsbusinesshistoryreadslikeaHollywoodthriller:Anearinsolventfeudingfamilybusinessbecomesthemosttalkedaboutturnaround,thenthesubjectofafiercetakeoverbattlebytwoofthemostheadstrongFrenchmenintheluxurybusinessLVMHsArnault,andFranoisPinault,whoheadstheFrenchretailconglomeratePPR(previouslyPinaultPrintempsRedoute)thentransformsitselfintoamajorluxurygroupandgoesshoppingforbrandsitself.Inthelate1980sGucciwasgaspingforbreathandDomenicodeSoleasCEOandTomFordascreativedirectorwerebroughtintoresurrectit,whichtheydidsosuccessfullythateverybrandsincedreamsofdoingaGucci.FordssexydesignsandsavvyadvertisingcampaignsnottomentionhisownmoviestarlooksandirresistiblecharmhadwomendroolinginthenewlyrevampedchainofGucciboutiquesaroundtheworld.GuccishookAsia,itbecamethebrandtodiefor,andeventoday,althoughLouisVuittonoutstripsitinsales,formanyAsiansGucciisthefirstbrandthatcomestomind,andtheonetheywouldlovetobuy.

    Table1.2TheconglomeratesbehindsomeofAsiasfavoritebrands

    In1999ArnaultmountedatakeoverattemptonGucci,buthisbidwasfoiledbyPinault,whopurchaseda42percentstake.Itwascorporatewarfare,glovesoff,withplentyoflawsuitsandcontroversialpress.Theboardroomactionbecameasinterestingastheshowonthecatwalks.Pinaultwontheday.HealsosubsequentlyboughtanothercompanythatArnaultwasafter,SanofiBeaut,whichownsYSL.

    GucciGrouphassinceacquiredSergioRossi,BottegaVeneta,Boucheron,andBalenciaga,besidesluxurywatches,cosmetics,

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 19/29

    andperfumes.InyetanothertwisttotheGuccisaga,FordanddeSolelefttheempiretheyhelpedcreatewhentheircontractsexpiredin2004reportedly,theycouldntseeeyetoeyewithPinaultontheirdegreeofautonomyinrunningthebusiness tobereplacedbyRobertPolet,formerheadofUnileversicecreamunit.PinaultfinallyownsthewholeshowPPRboughtbackminoritysharesandtheGucciGroupwasdelistedfromtheAmsterdamandNewYorkstockexchanges.

    Theforcesofconglomerationinfluencedsmallerluxuryhousesaswell.Pradawentonashoppingspree,buyingJilSander,HelmutLang,andChurch&Co.Hermsacquireda35percentstakeinJeanPaulGaultier.

    PartoftheconglomerationstrategyistoinfusefreshlifeintoacquiredbrandstodoaGucci,sotospeak.TodoaGucciyouneedaTomFord,andwhilethereisjustoneofhim,theresafairsupplyofexcitingnewdesignerswithplentyofartistictalent.Thesearchforgutsydesignerstogiveamoderntwisttoagingbrandshasresultedinaninterestinggameofmusicalchairs.Ironically,vintageFrenchandItalianbrandsarebeingentrustedtoyoungAmericanandBritishdesigners.

    Arnaultistheacknowledgedmasteratconductingtwentyfirstcenturysurgeryonnineteenthcenturybrands,findingtherightbalancebetweenlifegivinginnovationandthebrandstraditionalcore.AmericanMarcJacobsisthedesignerbehindtheupdatedimageofLouisVuitton,wittilyaddingatouchofpopandkitsch.FellowAmericanMichaelKors,knownforhisminimalistapproach,wasthemanArnaultchosetoreviveCeline.ForChristianDior,ArnaultfirsthiredGianfrancoFerrein1989,thenreplacedhimwithSpanish(butraisedintheUK)JohnGallianofromhousebrandGivenchy.BritishdesignerAlexanderMcQueenfilledGallianosspotatGivenchy,beforedefectingtorivalGucciGroupandsettinguphisownlabel.Inthemeantime,Gallianocontinuestoshockanddelightwithayoung,brash,urbansexinessthatisthenewnewlook,milesawayfromtheladylikeglamorousNewLookthatChristianDiorcreatedin1947.

    AtRichemontsfashionhouseChlo,StellaMcCartney(daughterofexBeatlePaulMcCartney)succeededthelegendaryKarlLagerfeldin1997,makingwaveswithherfirstcollection,whichcombinedvintagetoucheswithmoderntailoring.McCartneydidaMcQueen,formingherownlabelundertheGucciGroup.HerassistantandgoodfriendPhoebePhilo,alsofromBritain,tookoveratChlo(untilshealsoleftin2006),withsuchsuccessrumorsswirledthatPhilowasdoingthedesigningallalong.

    ItsnotjustAmericandesignerswhoarelendingahandintherejuvenationofEuropeanbrands:Americanmanagersarepitchingintoo,bringingamuchneededprofessionaltouch.RosemaryBravosturnaroundoftheveryBritishlabelBurberry

    21

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note21

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 20/29

    isashiningexample.Shearrivedin1997and,withthehelpofItaliandesignerRobertoManichettiandanadvertisingcampaignbymasterphotographerMarioTestino,teleportedBurberryintomoderntimes,showingsupermodelKateMossinaskimpybikinimadeoftheancientBurberrytartan.MichaelBurke,anotherAmerican,hasbeenwithArnaultrightfromthestartofhisLVMHempirebuildingforay(itshowsinBurkesfaultlessFrenchaccentandeffortlessshouldershrugging),playedasignificantroleinthegroupssuccessandtheturnaroundofChristianDior,andisapplyinghistouchtogroupbrandFendi.

    The Emergence of Showbuzz Marketing

    Withtheluxurybusinessitselfchangingmassivescale,globalcoverage,professionalmanagementthemarketingandpromotionofthatbusinesstookonsimilarcharacteristics.WhereasthelikesofCocoChanelandChristianDiorpresentedtheircollectionsinasmallsalon,todaysfashionshowsarenothingshortofshowbiz.Whereasearlierafewinfluentialmagazineeditorsdictatedthedisseminationoffashioninformation,nowhugemediaempireswithglobalcoveragecarpetbombtheplanetwithuptotheminutefashionintelligence.Thecreationofbuzzgettingyourbrandtalkedabout,makingsureitstaysinthenewshasgoneprofessionaltoo,deployingarangeofPRtechniquestomakeasplash,includinghiredcelebritiesandoverthetopevents.Itsthenewshowbuzzmarketing,combiningtheprinciplesofshowbizandbelowthelinebuzzgeneration.

    Theneedforthisnewkindofmarketingwasclear.Theearlierconceptofluxurygoodsbasedonskilledcraftsmanship,exclusivity,andlongevitybecameincreasinglyirrelevantwithinamachinemade,technologyenabledproductionprocess,withbatchesfarmedouttofactoriessometimescontinentsawayfromthehomeofthebrand.Today,itstheauraandimagethatyoubuildaroundthelogo,theintangiblecomehitherappealthatyouembedinitsleather,orthecoolquotientthatyouimbueintotheluxeconsumingpublicsmindthatswhatconsumersbuyasmuchastheybuythebag.Fromtheproductanditsinherentquality,thefocushasshiftedtothebrandanditsimage.GrantMcCrackeninCultureandConsumptioncallsthistheprocessofmeaningmanufacture,wherethankstoadvertisingandthefashionsystem,culturallysignificantmeaningismovedintoconsumergoods.

    Asfarasluxelandisconcernedshowbuzzmarketingboilsdowntocreatingtherightkindofbuzz,packagingitneatly,andsellingitatthestore.Wellbeforetheconsumerreachesthatstore,theresawholearmyofimagesandwordsassaultingher,createdbyamediaandmarketingjuggernautworkingatfullblastonbehalfofthebrand.Bythetimeshetriesonadressfromthelatestcollection,orconsidersthepurchaseofanewbaginthestorewindow,shealreadyhasdefiniteperceptionsaboutthebrandand

    22

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note22

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 21/29

    theparticularpieceinquestion.AndifsheisJapanese,shecouldeffortlesslywritea2,000wordpaperonit,fullofexquisitedetailsaboutthedesigner,thethemeofhislatestcollection,howitlinksbacktohisearlierwork,themodelwhowalkeddownthecatwalkwearingit,thebignamesintheaudience,theinternationalcelebritieswhoaresportingitcurrently,andthelocalonestoboot.Todaysluxeconsumerconsumesthebuzzasmuchasshedoestheproduct,andshespendstimediscussingitwithherpals.Latestbrandarrivalsarealegitimatetopicofconversation,andwhatyouhaveonandwhatyouplantopurchaseareinterestingfacilitatorsofsocialinteractioninAsia.

    Themassmesmerizationwithfashiononaseasonbyseasonbasisisadirectresultoftheindustrytakingoncharacteristicsofshowbiz.ThesamehumanfascinationwithglamourandcelebritiesthatdrawsadoringcrowdstoHollywoodmoviesandalltheperipheralactionandgossipalsodrawsthemtothefashionworld.CatwalkshowsinParisandMilanhavebecomeextravagantproductionsstagedwiththeatricalexpertise.Theme,venue,music,lights,sets,choreography,stylingeverythingismanagedtocreateabigbang,visualimpact.Itspureentertainment,audaciousclothes,glamorousmodels,andplentyofleg,breast,andmoreondisplay.AndtheshowsarestagedasmuchfortheliveaudienceofAlistheadturnerssittingaroundthecatwalkastheyarefortheglobalpressthatbeamstheminstantaneouslytotheworld.

    Therearetelevisionchannelsdevotedtofashion,leavealonenumerouswebsites.Imagesfromtheshowsarecarriedbyfashionandlifestyleglossies,internationaltitleslikeElle,Vogue,andCosmopolitan,aswellasaslewoflocalmagazinesthatdishoutfashionadvice.InChinaalone,some200newfashionandlifestylemagazineshavesprungupinthelastfiveyears.JapanesefashionglossieshavebecomesogoodthattheyaresoughtafterinmarketslikeTaiwan,wherethecurrentgenerationcantevenreadJapanese.Butthatsthepoint:Thisvisualcultureisuniversallyunderstood,itdoesnotneedtobetranslatedintoanywrittenlanguage.

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 22/29

    Fromthecosycalmoftheearlysalonshowingstotherazzledazzleoftodaysrunwayacts,fashionshowshavetransformedintoshowbiz.Left,amodelposesinanearlyChristianDiordressinarathersedatesettingbelow,amodelstrutsdowntherampinadazzlerfromJohn

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 23/29

    GallianoscollectionforDior.PhotoleftbyHenriCartierBresson,courtesyofMagnum.PhotobelowcourtesyofDior.

    WomeninAsiaareknowntotearoutpicturesfrommagazines,shotsstraightfromtheramps,andwalkintostoresseekingtheentirelook,headtotoe.TherichandfamousgoastepfurtherandtaketheleadfromthericherandmorefamousforexampleHalleBerrysElieSaabdesignedOscardress,asheersheathwithstrategicallyplacedflowers,wassportedbyHongKongsocialiteOliviaDavies,whohastoppedlocalbestdressedlists.Lessermortalshaveavirtualrelationshipwithdesigners,muchlikeafanofJenniferLopezwouldwiththesinger.IfyouheartheintimacywithwhichaJapanesewomantalksaboutMarcJacobs,youareconvincedthatheisindeeddesigningthoseexquisiteoutfitsandaccessoriesjustforher,oneonone.

    Sowhatistheroleofadvertisinginthisshowbuzzmarketingera?Itsaliveandwell,butitsrolehasevolved.Advertisingcreatesawareness,itdefinesthebrandsimage,buttodaysskepticalconsumerpaysmoreheedtowhatmagazineeditorialsaresaying.ManyAsianconsumersdontevenbotherwiththeinherentimageofabrand.TryexplainingthefactthatthefavoritebrandofJapaneseteenagersisthedecidedlymaturewomansHermstheyareonlyinterestedinhowinthebrandisamongtheirpeers.Forthatkindofinformation,itisfarmoreusefultocheckoutwhoiswearingwhatinthecompanyofwhomatwhicheventbacktogoodoldbuzzconsumption.Thatswhereadvertisementscomeinextremelyhandyafterall,whicheditorisgoingtotreatabigadvertiserunkindlyintheireditorialcontent?Ifyoureaconglomerateyourstableofbrandsputsyouinanenviablepositionbesidesexcellentadvertisingrates,youarelikelytogetexcellenteditorialcoverage.

    Brandpartiesaretheragethesedays,withthelocalwhoswhoinattendancethesecanrangefromcozylittleaffairstomammothextravaganzas,especiallyinChina.Theyensurethatbrandnamesfillthesocietypagesandgossipcolumnsinlocalnewspapersandmagazines.Inanecontroversiesarecreated.Forexample,aHongKongactresswasaccusedofhijackingtheFendishowingofitsautumnwinterfurcollectionbyarrivinginaLouisVuittondresswithanecklinethatdidntjustplunge,itbungeed.Asaresult,theactressandherassetsgotmorepresscoveragethantheFendimodels. Celebritiesareincreasinglybeinghiredasbrandambassadors,withthespecificpurposeofappearingateventswearingaparticularbrand,resultinginreamsofnewscoverage.

    Sometimesthebrandsdontevenhavetotrytobeinthenews.TheluxuryculturehasnotonlyspreadtoAsia,ithasseepedinsodeepthatitwellsuponitsown,withoutanyeffortbythebrandatall.Showbuzzonautopilot.Inthe2003SuddenAcuteRespiratorySyndrome(SARS)epidemicthatsweptthrough

    23

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note23

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 24/29

    HongKong,residentsrushedtobuyvirusprotectivemasks.RumorsspreadthatGucciandLouisVuittonhadputdesignermasksonthemarket,theLouisVuittononeapparentlymadeofsupersoftleatherwithamonogrammedsterlingsilverclasp.Thisledtoadelugeofcallsatthecompanysstoresandoffices.Itturnedouttobeahoax,butmanywishedithadbeentrue.Afterall,agirlneedsagoodlookingmasktogowithherGucciandChaneloutfits.

    FASHION

    1837LouisVuittonstartsmakingtrunksatthecourtofEmpressEugenieandgoesontoopenhisfirststoreinParisin1854.Acenturyandahalflater,hisbrandconquerstheheartsoftheJapaneseanditsbrownmonogrambagsbecomederigueurforAsiasnouveauxriches.

    1837ThierryHermsstartsasaddlerycompany,whichismodernizedacenturylaterbyhisgrandsonEmile.ItsfamedBirkinbagsatjawdroppingpriceshavemadeitthemostdesiredstatussymbolinAsia.

    1895ThomasBurberrycreatesthetrenchcoat.FirstwornbyBritishofficersduringtheBoerWar,itisnowsowellentrenchedinAsiathatBurberryistheKoreanwordforraincoat.

    1913CocoChanelopensherfirststoreinParis,andgoesontoshakethecitywithherbreakingthemoldfashionstatements,aswellasherunconventionallifestyle.Today,hersignaturestylehasfoundawidefollowinginAsia,fromJapaneseteenagerstoKoreanbarhostesses.

    1915ThebeginningofBurberryslongandcheckeredhistoryinJapan,includingBurberryfeverinthe1980sandaJapanonlyBlueLabel,immenselypopularwithyoungwomen.GettingthereearlycertainlyhelpedBurberryenjoysoneofthelargestretailsalesamongimportedluxurybrands.

    1932GuccioGuccidesignstheclassicGucciloafers,asymbolforthewealthy.Ayearlaterhisson,Aldo,createstheinterlockingdoubleGlogo(afterhisfathersinitials),whichhalfacenturylaterbecomestheragealloverAsia.

    1935SalvatoreFerragamosetsuphisworkshopinFlorence.HewasdubbedshoemakertothestarsandhisshoesareamusthaveitemforeverySouthKoreanwomantoday.

    1947ChristianDiorsNewLookcollectioncreatesastirinParis,reshapingthefemaleformintoaneleganthourglass.Halfacenturylater,JohnGallianosoutrageousdesignscauseasimilarstiramongAsiasAlist.

    1956HermsnamesGraceKellysmuchlovedbagafterheronhermarriagetoPrinceRainierofMonaco.Waitinglistsforthis

    24

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note24

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 25/29

    todieforbag,costingUS$510,000,areindefinitelyclosedinAsia.

    TIMELINE

    1978MiucciaPradainheritshergrandfathersbusiness.HeruseofinnovativefabricsandherminimalistdesignsmakethetriangularPradasymboloneofthehottestinAsia.

    1983KarlLagerfeld,newdesigndirectoratChanel,reinventstheoriginalspiritofCocoinamodernmtier.Thisisthefirstofwhatsoonbecomesabrandrejuvenationtrendamongluxurybrands.

    1986ImeldaMarcossfamed3,000strongshoecollectioncomestolightafterthePeoplePowermovementoverthrowstheMarcosgovernment.

    25

    https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/notes.html#ich01note25

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 26/29

    1990TomFordjoinsGucciascreativedirectorand,togetherwithDominicdeSole,revivesthecompanytoamazingheightsofsuccess.

    1999BurberryssignaturechecksonabikiniwornbyKateMosstransformthe100yearoldlabelintoamoderndaybrand.AsiaissoonawashinBurberrychecks,somewithalittlehelpfromthefertilecounterfeitmarket.

    2001Hermss11storyglassbrickretailextravaganzaopensinGinza,Tokyo,creatinghysteriaamongwomenwhoqueueupseveraldaysinadvancetobuythelimitededitionbagspromisedonopeningday.TheRenzoPianodesignedflagshipstoresetsahighnoteforthemegasizedflagshipstoretrendthatcatchesoninJapan.

    2001Plaza66,astateoftheartluxurymall,opensonShanghaisfamedshoppingstreetNanjingLu,pushingthecitysretailtoworldclasslevelsinonestroke.

    2002QueuesbuildupthreedaysinadvancefortheopeningofLouisVuittonssixfloorflagshipstoreinOmotesando,Tokyo,anappropriateretailtemplefortheluxurybrandmostreveredbytheJapanese.

    2006ThelikesofArmaniandChanelstagehautecoutureshowsinHongKong,signalingtheopeningupofalucrativeultrahighendsegmentinAsia.

    2007IndiaentersanewphaseofluxuryretailingwiththelaunchofDLFEmporioinNewDelhi,thecountrysfirstluxurymallwithawhoswhorosteroftopbrands.

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 27/29

    Thelogoficationofbagsacceleratedthespreadofluxe

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 28/29

    maniaacrossthecontinent.PhotoscourtesyofCoachandFendiAsiaPacific.

  • 15/02/2015 1ALoveAffairwithLuxeCultoftheLuxuryBrand:InsideAsiasLoveAffairwithLuxury

    https://www.safaribooksonline.com/library/view/cultofthe/9781904838050/xhtml/ch01.html 29/29

    People who finished this also enjoyed:

    Recommended / Queue / Recent / Topics / Settings / Blog(http://blog.safaribooksonline.com) / Support(http://msupport.safaribooksonline.com/?prod=flow) / Feedback / Sign Out 2015 Safari(http://www.safaribooksonline.com/). Terms of Service / Privacy Policy

    Everheardofathreeyearwaitinglistwhichyoucannolongergetontoforabag?!Theculprits:BirkinandKellybagsbyHerms.PhotoscourtesyofHerms.

    Targeted malefrom: Fashion Brands, 3rd Edition by MarkTungateReleased: October 201217 MINS

    Business / Business Communication

    BOOK SECTION

    PREVPart One: How an

    NEXT2 Finding Meaning

    https://www.safaribooksonline.com/t/business-communication/https://www.safaribooksonline.com/privacy/https://www.safaribooksonline.com/recent/https://www.safaribooksonline.com/accounts/logout/http://blog.safaribooksonline.com/https://www.safaribooksonline.com/t/business/https://www.safaribooksonline.com/s/http://msupport.safaribooksonline.com/?prod=flowhttps://www.safaribooksonline.com/library/view/fashion-brands-3rd/9780749464462/https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/ch02.htmlhttps://www.safaribooksonline.com/library/view/fashion-brands-3rd/9780749464462/C15.xhtmlmailto:[email protected]://www.safaribooksonline.com/library/view/fashion-brands-3rd/9780749464462/C15.xhtmlhttps://www.safaribooksonline.com/terms/https://www.safaribooksonline.com/r/http://www.safaribooksonline.com/https://www.safaribooksonline.com/t/https://www.safaribooksonline.com/u/https://www.safaribooksonline.com/library/view/cult-of-the/9781904838050/xhtml/part01.html