Perseverance in elegance and the supreme pursuit of refinement
Text|Little cool
Have you ever bought luxury goods?
Do you know what are the main luxury brands in the world?
How are luxury goods created?
What are the untold stories of famous luxury brands?
What's the value of a costly fashion show?
Why is autumn fashion on display in March and spring fashion in October?
Why do luxury brands never do price reductions**?
Why is it that the more high-end the handbag, the smaller the logo?
Renowned economist Don Thompson will reveal the answers in the book "The Economics of Luxury".
In this book, you can learn a lot about the economics of luxury and the secrets of how luxury works. For example, luxury goods are advertised differently than we normally perceive. Luxury advertising is never about generating immediate sales, just as fashion shows are about building a brand aura. Luxury fashion advertisements are not intended to be understood by the general public; Most readers find the advertising campaign revealing subtle messages, and they don't want to wonder what those messages are anyway. Fashion items depicted in ads are often from couture runways, not styles for ready-to-wear sales. None of this matters.
Luxury advertisements never mention ** or product attributes, never sell themselves or compare them with the same model. If Dior mentions another luxury brand, it is implying that there is a brand that can compete with it. Luxury brands emphasize their history, uniqueness, and their brand's connection to art and philanthropy, or the popularity of a "best actress" wearing her haute couture on the Oscar red carpet.
A traditional notion in the luxury industry is that people are aware of the rarity of luxury goods in order to keep the value of luxury goods. This creates a dilemma. How "few" should Hermès produce Kelly bags this year? If a Chanel scarf sells faster than expected, should it be discontinued? (Chanel's answer is "yes"). In fact, the internal discussion within luxury brands is "how little we want to produce", not "how much". How many stores should Louis Vuitton open in Tokyo? Should you open your store in China's second-tier cities, or only in first-tier cities? Do third-tier cities still need to be considered? (Louis Vuitton did, and it worked successfully – at least in the short term.)
Don Thompson, a Canadian-born economist with an MBA and Ph.D. from the University of California, has taught at Harvard Business School and the London School of Economics, and is an honorary professor at the Schulich School of Business at York University in Toronto. He has published extensively in economics publications such as The Times, Harpers Magazine and The Art Economist, as well as Supermodels and Brillo Boxes.
The Economics of Luxury is a masterpiece of economics that Don Thompson has accumulated over the years. It has been highly praised by the Times, The New York Observer and many other **. Richard Morrison, a writer for The Times, commented: "If you want to read the art of life, read this book that makes me addicted to it and reads it like a ** for two days in a row." The New York Observer commented: "Don Thompson approached the inner workings of the contemporary art market with the curiosity of an economist, and once again explained the workings of the industry in terms acceptable to the layman." ”
This book uses easy-to-understand words and real and vivid cases to narrow the distance between readers and luxury goods, and establishes a "bridge" to luxury art.
The growth and development of luxury brands is rooted in the needs of ordinary people, and all of them have experienced the brewing of history and the baptism of time, and they represent an attitude: perseverance in elegance and the supreme pursuit of refinement.