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Considering the luxury
sector as an élite phenomenon, the reference target is represented by an
élite group of extra-rich people. Due to luxury democratization, luxury
is becoming a prerogative of a less restricted range of people,
bringing growth potential to luxury companies. Businesses operate in
three different luxury levels: non-affordable luxury, intermediate
luxury and affordable luxury. The global financial crisis has influenced
the luxury sectors, but the luxury market has recently begun a new
growth phase also due to the affordable luxury. Therefore, luxury
business is a rather interesting context for business combinations as a
means for the company growth, given the trends in global luxury
consumption and forecasts.
The book focuses on the analysis of the
particular characteristics of management of companies in luxury
business, especially to support a profitable growth. It also analyzes
M&As in the luxury context which has shown its attitude towards
increasing its appeal even towards “day trippers”and new emerging
markets. The relations between companies and their contexts create
opportunities for greater competitive advantages, as well as for
increases in size. Business combinations are a means for the external
M&As are usually performed with the purpose of achieving
external growth and integration is crucial to the success of any such
operation. The main forms of acquisitions in the luxury business are
vertical, horizontal and concentric ones. Such large groups often pursue
external growth by purchasing other companies that own strong brands.
In the M&As, the luxury brand can be considered as a measure of
luxury: a product marked by a luxury brand is also considered a luxury
product and customers’ perception of a brand defines it as a luxury one.
Thanks to its value, a brand generates so-called goodwill and increases
the performances of the M&As.
1) The Luxury Business
2) Luxury Typologies as Opportunities for Companies
3) Trends in the Luxury Business
4) Company Growth
5) M&A in the Business of Luxury Companies
Elisa Giacosa Ph.D., Assistant Professor in Business Administration in the University of Turin, Italy. Professor in Financial Accounting in the same University. Author of numerous national and international publications in Fashion firms business, Crisis management and Financial Analysis.