The future of luxury: Challenges and opportunities


Journal of Brand Management

April 2015, vol. 21, n°9, pp.716-726

Departments: Marketing

Keywords: luxury branding; fashion; premium; growth; China; digital

Luxury branding has changed significantly over recent years and many say that it will never be what it once was: a discreet and tiny economic sector aimed at the rich. The rapid growth of emerging countries, led by China, has created new context for luxury growth that changes its essence and behaviour. The industry also faces challenges from technological advances and the increasing shift towards digitalization. The purpose of this article is to highlight the main areas of concern for the future of the luxury industry and how changes within it are affecting the notion of luxury itself. We hope to offer insight into the directions brand management can take to address this while proposing new areas for academic research to focus on