This new edition presents a comprehensive review of the luxury industry's transformation and the brand management trends and issues it faces today. It offers holistic forecast for the industry and pragmatic suggestions for entrepreneurs.

Structured thematically, the book starts by introducing luxury as a concept and the cultural perspectives of specific groups such as the French, Italians, Chinese etc., It then dives into the different traditional personal luxury goods sectors and their extensions into the luxury business to analyze their backgrounds and where they are today in terms of business attractiveness and appropriateness. The subsequent chapters discuss the counter-intuitive nature of the luxury industry, its clients and their values, management practices and challenges in the luxury supply chain, the process of inculcating sustainability in business models, followed by the who’s who of the present-day luxury industry. These chapters present new insights gathered from the last five years, historical transition from craft-based and small-scale organizations to houses of brands, changes in organizational structures, the mega mergers and re-alignments.

Highlights of the book include:

• A toolkit on creating a new luxury brand
• A chapter on contemporary challenges and changes: Effects of COVID-19, Omni-channel, E-commerce and the digital era
• A fully updated chapter on intellectual property rights and counterfeiting
• Fresh case studies and relevant examples