The Decline of Luxury examines why once-iconic luxury brands are struggling in today’s market. It argues that failures to adapt to evolving consumer expectations, strategically embrace digital technologies, and maintain internal standards have contributed to decreased relevance and profitability.
The book explores how the democratization of fashion through digital channels and shifts in consumer values have created challenges for established luxury houses.
One intriguing insight is how the rise of fast fashion and readily available imitations impacts brands steeped in tradition.
The book progresses by defining luxury, tracing its historical transformation, and examining the impact of digital technologies like e-commerce and social media marketing.
Case studies analyze brand missteps in product development, pricing strategy, and brand communication.
It emphasizes authenticity, sustainability, and personalized customer experiences as key to revitalizing luxury brands.
It challenges the idea that brand heritage alone guarantees success, offering insights for navigating the modern luxury landscape and managing luxury brands.
