Course coordinator Prof. Gabriella Lojacono
Instructors Prof. Gabriella Lojacono, Prof. Laura Pan
The luxury industry has dramatically changed in recent decades, by going through continued revolutions in digital technologies, international markets, and consumer trends. Emerging brands and new retail formats are constantly entering the industry, forcing established companies to re-think their business models and face a cultural change. Successful companies are those that stay true to their heritage and fundamental values of beauty, creativity, and exclusivity, but at the same time understand new trends and catch emerging opportunities. Managers of luxury companies must be highly imaginative and highly disciplined at the same time. They must preserve the exclusivity that is typical of luxury products but also be inclusive in how they speak to new generations, recruit talents, and deal with different cultures across the globe. Innovation in luxury must be continuous and allow companies to maintain the cachet and the dream factor through time.
- The course is finalized at providing students with an in-depth understanding of the values of luxury, the strategic issues of the industry and the characteristics of the luxury value chain.
- Students familiarize themselves with the logics driving modern luxury brands from different sectors.
- Understand these issues, different perspectives from strategy, creativity, international business, and digital transformation are proposed.
The course will cover 6 main areas:
- Foundations of luxury: aesthetics, prestige, and timeless value
- Characteristics of luxury companies: history, modes of ownership, global presence
- Digital strategies
- Sustainability in the Luxury Industry and what does it mean
- New Business Models to adapt to the rapidly changing world
- International market trends and international growth of luxury companies
Handouts and selected reading materials, which will be made available on Blackboard.
- 30% Group Assignment: Mood Boards
- 20% Group Assignment: Ferrari Case Study
- 50% Online Exam: Exam will be composed of multiple choice and short answer questions based on the content delivered in the course.