Noted experts offer invaluable insights into the glamorous world of luxury retail
Luxury Retail Management is your gold-plated ticket to the glamorous world of luxury retail. Defining all the tools that are necessary to manage luxury stores, from the analysis of location and design concept, to the selection, training, and motivation of the staff, the book covers everything you need to know to enter, expand, understand, and succeed in the world of luxury retail. Reaching the luxury customer is no longer the domain of the exclusive salon—the global luxury market boom and the phenomenal growth of luxury stores now views the retail sector as key to driving brand profitability. In dealing with this rapid change, luxury brands have experienced a steep learning curve and accumulated bags of retail expertise. And while some of the luxury retail rules and models in this book are exclusive to the luxury market, many have lessons for the whole retail sector.
- Examines the essential aspects of luxury customer relationship management, personal sales, and the customer experience
- Delves into the sophisticated business models that luxury brands have developed based on a mix of directly-operated-stores and wholesale
- Covers the management essentials—distribution, location, design, merchandising, pricing, brand promotion, and the management agenda for success
Written by respected experts Michel Chevalier and Michel Gutsatz, who lend their solid academic credentials and professional expertise to the subject, Luxury Retail Management asks and answers the questions that retail professionals need to understand in order to thrive in the luxury market.
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About the Author
Michel Chevalier is an expert in luxury brand management and retailing. A consultant with EIM in Paris and a visiting professor of luxury marketing and retailing at HEC and Paris-Dauphine University in Paris, he is also the coauthor of Luxury Brand Management and Luxury China, both published by Wiley.
Michel Gutsatz is an international expert in luxury brand management based in Paris. The founder of The Scriptorium Company, a brand strategy agency, he advises investment funds, luxury brands, and retailers in Europe, China, and the United States. Gutsatz developed the MBA in international luxury brand management at ESSEC Business School, and his blog, BrandWatch (michelgutsatz.com), is an acclaimed reference in brand strategy.
Table of Contents
Chapter 1 Luxury and Brand Power 1
Chapter 2 The Distribution Models of Luxury 15
Chapter 3 The Different Outlets of Luxury Distribution 37
Chapter 4 The Internet as a Channel of Distribution 63
Chapter 5 Luxury Store Location 83
Chapter 6 Luxury Store Concept and Design 119
Chapter 7 Luxury Store Economics 139
Chapter 8 Luxury Retail Pricing 169
Chapter 9 Customer In-Store Behavior 185
Chapter 10 The Importance of Stores in Customer Relationship Building 195
Chapter 11 Building Loyalty in Luxury Brands 209
Chapter 12 Advertising and Communication 229
Chapter 13 The Future of Luxury Brand Retailing 245
Appendix Managing a Store Toolbox 257
About the Authors 295