The strengths and weaknesses of luxury

Misha Pinkhasov and Rachna Joshi Nair

Chapter Chapter 2 in Real Luxury, 2014, pp 28-55 from Palgrave Macmillan

Abstract: Abstract “2011: Another great vintage for LMVH.” “Excellent outlook for 2012.” These were the headline quotes from Bernard Arnault, as LVMH, the world’s biggest luxury group, released the company’s annual results in early 2012.1 It was a sentiment echoed by other major luxury players at the time, dismissing concerns about stubbornly high unemployment, a public finance crisis among the world’s richest countries, fears for the future of the eurozone, and increasingly rancorous sociopolitical discourse. Indeed, their predictions for continued growth came true the following year. The past 20 years have seen luxury transformed by seemingly invincible growth.

Keywords: Luxury Good; Luxury Consumption; Luxury Brand; Celebrity Endorsement; Golden Parachute (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-39557-3_3

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DOI: 10.1057/9781137395573_3

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