A strategy for the luxury goods industry in France

• Vincent BASTIEN
  Former manager of industrial and luxury goods companies
  Affiliated professor, HEC
  

Summary

To define the luxury goods industry may seem to be simple, but in fact there is nothing more difficult to define despite everyone thinking they know what it is. Is the luxury goods industry an industry, a craftsman's know-how, or even the work of an artist ? Is it just well-known Parisian firms or fashion houses, or can it include important companies which claim to be luxury companies ? Is it reserved for the 'happy few' who belong to a hypothetical elite, or is it the answer to the legitimate, dream-like aspirations for everyone in a democratic society ? Clearly it is extremely difficult to define, but even this is not as difficult as managing a luxury goods company, and allowing dreams to become part of management methods. Ultimately, what if the strategies used in the luxury goods industry were adopted by other economic sectors far removed from the prestigious boutiques and design studios where the best materials are handcrafted ?

Summary translated from French by Rachel MARLIN.

• The entire article was written by Pascal LEFEBVRE.

To obtain this article, you can :

• download it in French (PDF help) using your password or contact ecopar@paris.ensmp.fr (Reference VA031210-2).