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Luxury Brand Management in the Fashion Industry: Basic Conceptions and Models
Korepanov O. S., Galushka K. О.

Korepanov, Oleksiy S., and Galushka, Kristina О. (2019) “Luxury Brand Management in the Fashion Industry: Basic Conceptions and Models.” Business Inform 10:295–300.
https://doi.org/10.32983/2222-4459-2019-10-295-300

Section: Management and Marketing

UDC 658.827:659.127]:687.01

Abstract:
The article considers topical issues of brand specifics and luxury brand management in such a dynamic and competitive industry as the fashion industry both world-wide and in Ukraine. The aim of this research is studying the global experience of luxury brand management in the fashion industry, as well as generalizing the methodical and practical aspects of the process of efficient brand management in the enterprise in order to develop a national conception of positioning companies belonging to the luxury segment in this sphere. Based on the information obtained from scientific sources, the efficiency of luxury brand management is assessed using the methods of observation and abstraction plus the comparative analysis method. The need to analyze brand management in the world of luxury to assess the company’s potential in the fashion sphere is substantiated, based on the importance of brands as intangible assets for an efficient competition and as an instrument for building up business reputation. The main categories of luxury brands in the fashion industry are defined as follows: haute couture; ready-to-wear deluxe; ready-to-wear. On the results of the research, two global players are identified and examined in detail: Italian and French businesses. Various instruments are studied to identify the brand’s ethical and aesthetic constants, among which the most common is the Jean-Noel Kapferer’s prism, which provides a more detailed picture of the problem. It is demonstrated how one can use the brand identity prism with the French luxury «Chanel», the key elements of this brand’s identity are identified. In the course of analysis, two main business models of the luxury brand management category: «pyramid» and «galaxy», as well as their practical embodiment on the example of well-known world brands, are examined.

Keywords: brand, luxury segment, brand management, fashion industry, brand prism, brand identity.

Fig.: 3. Tabl.: 1. Bibl.: 11.

Korepanov Oleksiy S. – Doctor of Sciences (Economics), Professor, Professor, Department of Statistics, Accounting and Auditing, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]
Galushka Kristina О. – Student, Educational and Research Institute «Karazin Business School» of V. N. Karazin Kharkiv National University (1 Myronosytska Str., Kharkiv, 61002, Ukraine)
Email: [email protected]

List of references in article

Aaker, D. Sozdaniye silnykh brendov [Creation of Strong Brands]. Moscow: Izdatelskiy Dom Grebennikova, 2003.
Andreyeva, A. N. Dizaynerskiye brendy v feshn-biznese [Design Brands in the Fashion Business]. St. Petersburg: Vysshaya shkola menedzhmenta, 2008.
Kotler, F. Marketing ot A do Ya. 80 kontseptsiy, kotoryye dolzhen znat kazhdyy menedzher [Marketing Insights from A to Z: 80 Concepts Every Manager Needs to Know]. Moscow: Alpina Pablisher, 2018.
Ogilvi, D. O reklame [About Advertising]. Moscow: Eksmo, 2010.
Okonkvo, U. Brending v mode klassa «lyuks». Masterstvo sozdaniya i upravleniya [Branding in Luxury Fashion. Mastery of Creation and Management]. Moscow: Grevtsov Buks, 2010.
Tangeyt, M. Postroyeniye brenda v sfere mody: ot Armani do Zara [Building a Brand in the Fashion Industry: From Armani to Zara]. Moscow: Alpina Pablisher, 2007.
Traut, Dzh., and Rays, E. Pozitsionirovaniye: bitva za umy [Positioning: the Battle for the Minds]. St. Petersburg: Piter, 2017.
Moda i modelery [Fashion and Fashion Designers]. Moscow: Mir entsiklopediy Avanta+, Astrel, 2011.
Kapferer, J. N., and Bastien, V. The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands. London: Kogan Page, 2016.
Mazzalovo, G., and Chevalier, M. Luxury Brand Management: A World of Rrivilege. John Wiley & Sons, 2012.
“Best Global Brands 2018 Ranking“. Interbrand. https://www.interbrand.com/best-brands/best-global-brands/2019/ranking/

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