Cult of the Luxury Brand: Inside Asia's Love Affair with Luxury - Hardcover

Chadha, Radha; Husband, Paul

Hardcover

ISBN 10: 1904838057 ISBN 13: 9781904838050

Publisher: UNKNO, 2006

Synopsis

The Cult of the Luxury Brand: Inside Asia's Love Affair with Luxury is the first book to explore how and why an extraordinary luxeplosion is rocking Asia. And it's not just the glitzy upper crust that is getting swept up in the frenzy-secretaries clutch Burberry bags, junior executives sport Rolex watches, and university students stroll around in Ferragamo shoes.Hong Kong boasts more Gucci and Hermes stores than New York or Paris. China's luxury market is growing so quickly that it will be the largest luxury market in the world by 2014. Even India, relatively new to the luxury scene, has three-month waiting lists for hot items, while in Tokyo, which is the epicenter of the luxury cult, 94% of women in their twenties own a Louis Vuitton bag.Written by world-leading retail consultants who know their way around the Asian market, The Cult of the Luxury Brand draws on over 150 interviews with industry experts and market studies in ten countries. It offers glimpses of Asia's thriving retail scene from glorious flagship stores in Tokyo to bustling local markets in Seoul, and seeks to understand consumers' inner motives for this obsession. Not so long ago, your place in society was defined by your role and your heritage; now it's all about your Chanel suit and your Cartier watch.The luxe cult is so powerful that Asian consumers account for as much as half of the eighty billion dollar global luxe industry. Radha Chadha and Paul Husband describe how to elevate your product's status while simultaneously pumping it out to the masses. They crack the code of the cult, offering a tried-and-tested approach for creating a devoted following for your brand. Whether you are a business professional targeting the Asian consumer or a shopper trying to understand your own love affair with luxury, this book illuminates the mysterious inner workings of one of the world's fastest growing industries. At last a book that arms the fashion industry with actionable insights into the psyche of the Asian luxury consumer. Written with charm and verve, the book reveals the soul of Asia in all its nuanced splendor, showing how the culture of nations shapes its people's fashion sensibilities and passion for luxury brands.- Vivienne Tam, fashion designer Fascinating. The Cult of the Luxury Brand is the first insightful exposition of this dramatic re-framing of traditional Asian values. It is full of insight and vital source material for anyone interested in understanding modern Asians.- Miles Young, Chairman of Ogilvy & Mather Asia Pacific Excellent and timely. The Asian market is red hot, and by focusing on the luxury brand, we can better understand the rapid social changes taking place in Asia today. A great topic, one that professionals in many fields want to know more about. It's happening now - and Chadha and Husband have got the story, in a way that the competition does not. It's 'hands-on', accessible, informative, professional and lively. - Dr. Kaori O'Connor, leading anthropologist on material culture and fashion, and author of The Way We Wear A fascinating and informative ride through cities like Hong Kong, Shanghai, and Tokyo. There is no other place in the world where luxury is the currency of power than Asia, where what you wear speaks volumes about who you are. The Cult of the Luxury Brand is a must-read for anyone who is looking to enter the retail development market in Asia, an invaluable tool in understanding the psychology of the Asian consumer. - Bertrand Pellegrin, Marketing Director of Lane Crawford Painstakingly researched and easy to read, an amazing look inside the luxury brand trade. - Ambar Brahmachary, President of JWT Japan In this superb book, through a series of case studies and insightful analysis, Chadha and Husband highlight new marketing tools that companies are successfully implementing to create and build the luxury cult. This is a must-read book for executives who want to build their luxury brands in the booming Asian markets. - Sunil Gupta, Professor of Marketing at Harvard Business School Savvy marketers can use this information to plan how to penetrate the Asian market. The prose is lively, engaging and witty, elevating this marketing manual into the fun-to-read category. getAbstract enthusiastically recommends it to those with a passion for fashion, a curiosity about the Asian shoppers' psyche or an interest in entering the high end Asian market.- getAbstractContentsIntroduction: Wear Your SuccessPart One: How and Why1 A Love Affair with Luxe2 Finding Meaning in an LV BagPart Two: What and Where3 Japan: An Insatiable Yen4 Hong Kong and Taiwan: Yin and Yang5 China: From Mao Suits to Armani6 South Korea: Indebted to Luxury7 Single-Season Sisters: Singapore, Malaysia, Thailand, Indonesia, and the Philippines8 India: The Next China?Part Three: Behind the Cult9 How the Cult is Created10 Advent of the Genuine Fakes11 The Future of LuxuryNotesAcknowledgmentsIndex

About this title

About the Author

Radha Chadha is one of Asia's leading marketing and consumer insights experts. After working with leading advertising agencies J. Walter Thompson, Ogilvy & Mather, Grey Worldwide, and Bates Asia, Radha established her own brand consultancy in 2000 in Hong Kong. She has an MBA from the Indian Institute of Management, Ahmedabad, with a specialization in Marketing, and a BA in Math from St. Stephen's College, New Delhi. For more information, visit http://www.chadha-strategy.com. Paul Husband is one of Asia's leading retail center planning and development consultants. He founded Husband Retail Consulting and works with clients in Hong Kong, Singapore, Taiwan, China, Korea, India, the Philippines, and Thailand. Paul is an Asian faculty member of the International Council of Shopping Centres and a member of the Washington-based Urban Land Institute. He lives in Hong Kong with his wife and a large walk-in closet. For more information, please visit http://www.husband-retail.com

From the Back Cover

"Fascinating. Full of insight and vital source material for anyone interested in understanding modern Asians." Miles Young, Chairman of Ogilvy & Mather Asia Pacific

"Excellent and timely. Chadha and Husband have got the story. It's `hands-on', accessible, informative, professional and lively." Dr Kaori O'Connor, University College London and author of The Way We Wear

"There is no other place in the world where luxury is the currency of power than Asia, where what you wear speaks volumes about who you are. Fascinating and informative, The Cult of the Luxury Brand is a must-read for anyone who is looking to enter the retail development market in Asia, an invaluable tool in understanding the psychology of the Asian consumer." Bertrand Pellegrin, Marketing Director of Lane Crawford

"In this superb book, through a series of case studies and insightful analyses, Chadha and Husband highlight new marketing tools that companies are successfully implementing to create and build the luxury cult. This is a must-read book for executives who want to build their luxury brands in the booming Asian markets." Sunil Gupta, Professor of Marketing, Harvard Business School

"Painstakingly researched and easy to read, an amazing look inside the luxury brand trade." Ambar Brahmachary, President of JWT Japan

"The authors have delved into the psyche and the motivations of the most fascinating consumers in the world. This book is a invaluable tool for investors and managers to understand the path ahead for luxury in Asia." Sagra Maceira de Rosen, Managing Director of Reig Capital Luxury & Retail, former Head of Luxury Goods Equity Research, JP Morgan

"Well researched and highly readable, this book goes well beyond merely documenting the luxe phenomenon in Asia. It explains how cultural concepts such as guanxi, conformity and kiasu are given their spiritual edge today through the way luxury brands are used as personal props. It is a fascinating read, and adds texture and flavour to understanding how the Asian century is taking shape." Mark Blair, author of 360 Brand in Asia and President - International Clients, Ogilvy & Mather Asia Pacific

"A fascinating journey behind the luxury phenomenon that is shaping mass consumption in Asia. Filled with actionable insight for all marketers. Read it for pleasure and profit!" Richard Lee, Vice President, Marketing, PepsiCo China

From the Inside Flap

IN TODAY'S ASIA YOU ARE WHAT YOU WEAR

The Cult of the Luxury Brand is the first book to explore how and why an amazing "luxeplosion" is rocking Asia, sweeping up not just the glitzy upper crust, but secretaries toting their Burberry bags, junior executives sporting Rolex watches, and university students in Ferragamo shoes.

Hong Kong boasts more Gucci and Hermes stores than New York or Paris. China's luxury market is growing with such gusto that it will single-handedly be the biggest by 2014. Even India, the new kid on the luxury block, has three-month waiting lists for hot items, while in Tokyo, the epicenter of the cult, 94% of women in their 20s own a Louis Vuitton bag.

The cult of the luxury brand is so powerful that Asian consumers account for as much as half of the $80 billion global luxe industry. Radha Chadha and Paul Husband explain the paradox of simultaneously pumping up your product's status while pumping it out to the masses. They crack the code of the cult, offering a tried-and-tested approach to creating an explosive following for your brand. They outline a powerful model that explains the spread of luxury in developed markets such as Japan and Hong Kong, while predicting the future course for emerging markets such as China and India. They also examine the phenomenon of "genuine fakes", impossible to tell from the originals and detracting from their sales.

Written by world-leading experts in a highly accessible style, the book draws on over 150 interviews with industry experts, market studies in 10 countries, and the authors' collective experience across Asia. It offers a glimpse of the thriving retail scene, from glorious flagship stores in Tokyo to bustling local markets in Seoul, and compares the various consumer segments to understand the inner motives for their obsession. It demonstrates how the continent's massive economic and social transformation is dismantling centuries-old ways of defining your place in society, and how your spot on today's social totem pole is marked by your Chanel suit and your Cartier watch.

Whether you are a business professional targeting the Asian consumer, a marketer interested in trend spotting, or a shopper fascinated by luxury brands, this book opens the door to success.

Edition details

• Publisher: UNKNO
• Publication date: 2006
• Language: English
• ISBN 10: 1904838057
• ISBN 13: 9781904838050
• Binding: Hardcover
• Number of pages: 300