Luxury Retail Management: How the Worlds Top Brands Provide Quality Product and Service Support

Praise For Luxury Retail Management "Retail management, be it in stores, on the Web, or in salons, is the major issue for the future of luxury brands. Luxury Retail Management offers fascinating insights into the rapidly changing luxury markets and the growing expectations of their diverse and changing clientele." — Françoise Montenay , President, Chanel "In an era when ′getting it right′ in premium retail is crucial in the luxury industry, this book delivers real insight into successful luxury retailing. Part conceptual, part operational, the book is truly insightful. Each chapter prompts key questions that luxury professionals are facing, and thanks to the authors′ trusted expertise, the insights and solutions described are very inspiring. This book is an excellent resource for luxury professionals and intriguing reading for luxury aficionados alike." — Thomas Lindemann , Group HR Director, Richemont International "The retail dimension is fundamental for luxury branding. This book, for the first time, goes beyond intuitive thinking on retail and ′lasers′ in on the rational and technical tools that make it happen. This book will become required reading for those willing to expand their expertise in luxury management." — Daniel Piette , Chairman of L Capital; President of LVMH Investments Funds

Introduction vii 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 Bibliography 291 About the Authors 295 Index 297

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.