The Pier Framework of Luxury Innovation

Jonas Hoffmann and Betina Hoffmann

Chapter 4 in Luxury Strategy in Action, 2012, pp 57-73 from Palgrave Macmillan

Abstract: Abstract Luxury can be described as something exquisite, unique and rare; it is a combination of pleasure and aspiration. Be it a Richard Mille RM 032 Chronograph Diver’s Watch, a Montblanc Meisterstück pen, a Hermès Birkin bag or a Ferrari 458 Italia, it is a product that integrates craftsmanship, precious and rare materials, it has roots and it has a soul. It is an object of desire that is refined and positively pleasing. Above all, it represents a dream and gives you prestige. Innovation and creation are the heart of this process. Luxury innovation involves the capacity of someone at a certain moment to integrate unique skills and to sense l’air du temps to create something new, unique, an extra-ordinary product or experience.

Keywords: Brand Equity; Luxury Brand; Luxury Product; Watch Industry; Luxury Market (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1057/9780230361546_5

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