Luxury is not a price but an architecture of rarity and meaning. Brands that try to grow through volume lose status and ultimately lose margin. The course dissects the economics of luxury: why a high price is a signal rather than greed, how Veblen demand works, what "accessible luxury" means and where the line is beyond which a brand stops being desirable. We study brand DNA and the brand code, product hierarchy (icon, core, entry), pricing strategy and collection architecture, managing rarity through limited editions and waitlists, distribution (monobrand, wholesale, travel retail, e-commerce) and its effect on perception, client experience and CRM in luxury (clienteling, VIC programmes, private shows), marketing without discounts and promotions, ambassadors and cultural collaborations, brand protection against copying and the grey market, plus sustainability and new requirements (traceability, ESG, resale). A dedicated block covers the luxury brand financial model: gross margin, sell-through, markdown discipline, customer LTV, acquisition cost. Cases: Hermès, Chanel, LVMH, Brunello Cucinelli, and brands that diluted their positioning and failed.
Thinking…