Luxury talent management: Leading and managing a luxury brand (Michael Gutsatz and Gilles Auguste; Palgrave Macmillan, 258pp.)
This is a cracker of a read, awash with economic, marketing and psychological insights. The authors focus on how luxury brands survive, thrive and, sometimes as the generations pass, dive, but their ideas and information apply much more broadly. For a start, luxury isn’t what it used to be – once-exclusive brands are now aspirational. But the best of them manage to convince consumers that what is quite common is still rare. The emerging Chinese market demonstrates that there can be a mass market for luxury shopping. The future for exclusive brands, the authors suggest, lies in high-quality retail. And the lessons of luxury are relevant to any brand that needs to defend its equity in logos and perceived benefits. Many of the brands in this book have endured for a century or more. In contrast, of the dozen companies first included in the Dow Jones Industrial Average in 1896, only General Electric is still there.
by Steven Matchett