 The luxury fashion business strategy modelUche Okonkwo Chapter 9 in Luxury Fashion Branding, 2007, pp 267-277 from Palgrave Macmillan Abstract: Abstract It is perplexing to find out that when several practitioners in the luxury goods management are questioned about their business strategies or business models, they often look puzzled. The majority of these managers perceive business models and strategy plans as documents drafted by consultants to be filed away and reproduced during the annual reporting exercise. A senior executive of a luxury brand once told me that if I were interested in evaluating their business strategy plan, he would not hesitate to send a copy of the ‘Strategy’ to me. When I asked him the main features of the strategy plan, he replied, ‘How could I know? I am occupied everyday with managing the company, I don’t have enough time to read the Strategy Report.’ It was my turn to be puzzled. For this manager, the company’s strategy, (which by the way is its lifeline), was represented by a pile of papers stored in a drawer to be retrieved when a Consultant visited. This is part of the reality of the state of luxury fashion management. Keywords: Business Model; Business Strategy; Balance Scorecard; Luxury Good; Luxury Brand (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59088-5_10 Ordering information: This item can be ordered from DOI: 10.1007/978-0-230-59088-5_10 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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