The Curious Economics of Luxury Fashion

The Curious Economics of Luxury Fashion

Author: Don Thompson

Publisher: Dnt

Published: 2021-02-27

Total Pages: 280

ISBN-13: 9781777563202

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New York's Metropolitan Museum of Art Costume Institute Benefit Ball, run by Anna Wintour, the editor of Vogue, is the most difficult-to-obtain ticket for any cultural event in America- in spite of being a hundred thousand dollar, tickets + outfit evening. The size of the logo on a Louis Vuitton handbag is inversely related to its price; less expensive bags have larger logos, the most expensive has the smallest (those who matter to the owner recognize the tiny logo; those who don't, don't matter). Luxury fashion conglomerate Louis Vuitton Moet Hennessy is the second most valuable company in the European Union, after Royal Dutch Shell. In The Curious Economics of Luxury Fashion, economist and bestselling author Don Thompson offers these and other insights and fascinating examples in discussing the intriguing and fast-evolving world of luxury fashion. Why does one handbag sells for five times the price of another that looks and feels pretty much the same? How does a luxury label justify a runway show costing many millions of dollars, when most of the outfits paraded will never appear for sale? Why are fall fashions shown on the runway in March, and spring fashions in October? The book includes stories of the people and workings of luxury fashion, from New York, London, Paris, Milan-and in the rapidly growing markets of China. It includes a chapter on "Death by Amazon and AI", the inroads and existential threat of Amazon to the luxury fashion world as it previously existed.


The $12 Million Stuffed Shark

The $12 Million Stuffed Shark

Author: Don Thompson

Publisher: St. Martin's Press

Published: 2012-02-21

Total Pages: 281

ISBN-13: 0230341934

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Why would a smart New York investment banker pay $12 million for the decaying, stuffed carcass of a shark? By what alchemy does Jackson Pollock's drip painting No. 5, 1948 sell for $140 million? Intriguing and entertaining, The $12 Million Stuffed Shark is a Freakonomics approach to the economics and psychology of the contemporary art world. Why were record prices achieved at auction for works by 131 contemporary artists in 2006 alone, with astonishing new heights reached in 2007? Don Thompson explores the money, lust, and self-aggrandizement of the art world in an attempt to determine what makes a particular work valuable while others are ignored. This book is the first to look at the economics and the marketing strategies that enable the modern art market to generate such astronomical prices. Drawing on interviews with past and present executives of auction houses and art dealerships, artists, and the buyers who move the market, Thompson launches the reader on a journey of discovery through the peculiar world of modern art. Surprising, passionate, gossipy, revelatory, The $12 Million Stuffed Shark reveals a great deal that even experienced auction purchasers do not know.


Deluxe

Deluxe

Author: Dana Thomas

Publisher: Penguin

Published: 2007-08-16

Total Pages: 384

ISBN-13: 110121807X

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“With Deluxe: How Luxury Lost Its Luster, [Dana] Thomas—who has been the cultural and fashion writer for Newsweek in Paris for 12 years—has written a crisp, witty social history that’s as entertaining as it is informative.” —New York Times From the author of Fashionopolis: The Price of Fast Fashion and the Future of Clothes Once luxury was available only to the rarefied and aristocratic world of old money and royalty. It offered a history of tradition, superior quality, and a pampered buying experience. Today, however, luxury is simply a product packaged and sold by multibillion-dollar global corporations focused on growth, visibility, brand awareness, advertising, and, above all, profits. Award-winning journalist Dana Thomas digs deep into the dark side of the luxury industry to uncover all the secrets that Prada, Gucci, and Burberry don't want us to know. Deluxe is an uncompromising look behind the glossy façade that will enthrall anyone interested in fashion, finance, or culture.


Marketing Fashion

Marketing Fashion

Author: Karin M. Ekström

Publisher: Taylor & Francis

Published: 2023-06-16

Total Pages: 267

ISBN-13: 1000900118

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Fashion as a societal phenomenon has fascinated scholars in different disciplines such as history, sociology, anthropology, psychology, and marketing often from an interdisciplinary perspective. Fashion mirrors societal changes, cultural norms, and values over time. It can be interpreted as mundane everyday practices, constructions of identity and status as well as being associated with the art world. In this book, the focus lies on marketing and the role of marketers when fashion permeates society in deliberate and subtle ways. This edited collection critically reflects upon the power of fashion in contemporary society and the role marketing and marketers play in the process of defining, creating, and preserving fashion, but also in divesting fashion that is no longer up to date. It expands on existing knowledge to better understand the role marketers play as cultural agents in determining fashion and its markets. Contributors to the book are international, advanced scholars from a variety of disciplines such as anthropology, marketing, psychology and sociology, who challenge traditional ways of thinking about marketing. In a society where problems with overproduction and excessive consumption represent major challenges, the critical perspective of the role fashion plays in contemporary society and what influence marketing has for shaping fashion are not merely relevant, but necessary. This cutting-edge, interdisciplinary book will appeal to scholars across a broad range of fields including fashion marketing, fashion studies, and consumer culture research. It will also be valuable for students in advanced courses of study in a variety of disciplines besides marketing.


The Future of Luxury Brands

The Future of Luxury Brands

Author: Annamma Joy

Publisher: Walter de Gruyter GmbH & Co KG

Published: 2022-02-07

Total Pages: 311

ISBN-13: 3110732750

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The concepts of artification and sustainability are now both at the heart of luxury brand marketing strategies; artification as an ongoing process of transformation in the world of art and sustainability as an indispensable response to the issues of our times. The Future of Luxury Brands examines three interrelated luxury-marketing segments—the art world, fashion and fine wines including hospitality services—through the dual lenses of sustainability and artification. From safeguarding human and natural resources to upholding labor rights and protecting the environment, sustainability has taken center stage in consumer consciousness, embodying both moral authority and sound business practices. At the same time, artification—the process by which non-art is reconceived as art—applies the cachet of art to business, affording commercial products the sacred status accorded to works of art. When commercial products enter the realm of aesthetic creation, artification and consumer engagement inevitably increases. This pioneering book examining artification and sustainability as strategic pillars of marketing strategies in the luxury industry will be essential reading for practitioners working in luxury product companies, as also students of luxury brand marketing.


Concepts in Law and Economics

Concepts in Law and Economics

Author: Jim Leitzel

Publisher: Oxford University Press

Published: 2015-08-03

Total Pages: 221

ISBN-13: 019021399X

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"Law and economics" involves the application of economic analysis to legal problems. Law and economics features in public policy debates as well as across the social sciences in fields such as political economy, constitutional economics, and political science. Concepts in Law and Economics: A Guide for the Curious provides a comprehensive integration of the fields of law and economics. In clear prose, Jim Leitzel challenges traditional approaches to law and economics and uncovers common themes that cut across the two fields, providing readers with a means of integrating their knowledge to examine problems through both a legal and economic lens. This book covers the major methods of law and economics and applies those methods to various issues, including art vandalism, sales of human kidneys, and the ownership of meteorites. Compact yet comprehensive, this is an ideal introduction to a vast number of concepts and controversies in the fields of law and economics. Economics students, law students, and those with a general interest in the social sciences will find Concepts in Law and Economics an interesting and engaging read, and will emerge with the necessary skills for thinking like a law and economics practitioner.


The Supermodel and the Brillo Box

The Supermodel and the Brillo Box

Author: Don Thompson

Publisher: Macmillan

Published: 2014-05-27

Total Pages: 298

ISBN-13: 1137279087

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A look at the contemporary art market and the economics and psychology that first produced a market crash, and then two years later resulted in astronomical prices


30-Second Economics

30-Second Economics

Author: Donald Marron

Publisher: Icon Books Ltd

Published: 2011-04-07

Total Pages: 281

ISBN-13: 1848314493

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Keynesian Economics, Free Market Capitalism, Monetarism, Game Theory and the Invisible Hand. Sure, you know what they mean. That is, you've certainly heard of them. But do you know enough about these economic theories to join a dinner party debate or dazzle the bar with your financial knowledge? 30 Second Economics takes the top 50 economic theories, and explains them to the general reader in half a minute, using nothing more than two pages, 300 words and one picture. Economics will suddenly seem a lot more fun than the economy, and make a lot more sense, and along the way you'll meet founding fathers of modern economics such as Adam Smith, David Ricardo and Alfred Marshall. From Marxism to Mercantilism, plus everything in between, this is the ultimate 'crash' course in economic theory.


Disrobed

Disrobed

Author: Syl Tang

Publisher: Rowman & Littlefield

Published: 2017-09-28

Total Pages: 183

ISBN-13: 1442271000

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We may not often think of our clothes as having a function beyond covering our naked bodies and keeping us a little safer from the elements. But to discount the enormous influence of clothing on anything from economic cycles to the future of water scarcity is to ignore the greater meaning of the garments we put on our backs. Disrobed vividly considers the role that clothing plays in everything from natural disasters to climate change to terrorism to geopolitics to agribusiness. Chapter by chapter, Tang takes the reader on an unusual journey, telling stories and asking questions that most consumers have never considered about their clothing. Why do banker’s wives sell off their clothes and how does that presage a recession? How is clothing linked to ethanol and starvation on the African continent? Could RFID in clothing save the lives of millions of people in earthquakes around the world? This book takes an everyday item and considers it in a way that readers may not have previously thought possible. It tackles topics relevant to today, everything from fakes in the museums to farm-to-table eating, and answers questions about how we can anticipate and change our world in areas as far-reaching as the environment, politics, and the clash of civilizations occurring between countries. Much like other pop economics books have done before, the stories are easily retold in water-cooler style, allowing them to be thoughtfully considered, argued, and discussed.


Kapferer on Luxury

Kapferer on Luxury

Author: Jean-Noël Kapferer

Publisher: Kogan Page Publishers

Published: 2015-03-03

Total Pages: 240

ISBN-13: 0749474378

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This book addresses the No 1 challenge of all major luxury brands today: How can these brands pursue their growth yet remain luxury? How do you reconcile growth and rarity? Kapferer on Luxury offers a selection of the most recent and insightful articles and original essays on the luxury growth challenge from Jean-Noël Kapferer, a world-renowned luxury analyst. Each chapter addresses a specific issue relating to the luxury growth challenge such as sustaining the 'luxury dream', adapting the internet to luxury demands, re-widening the gap with premium brands' competition, and the importance of non-delocalization. It also explores in detail facing the demand of the Chinese clients, rising sustainable quality and experiential standards, developing real luxury services and managing luxury brands within groups without diluting their equity and more. As such, Kapferer on Luxury is the perfect and timely resource for luxury executives, communication managers, luxury observers and advanced students willing to deepen their understanding of this major luxury challenge.