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The Cult of the Luxury Brand: Inside Asia's Love Affair With Luxury, by Radha Chadha, Paul Husband
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With Hong Kong boasting more Gucci and Herm�s stores than New York or Paris, and 94% of young women in Tokyo owners of a Louis Vuitton bag, the Asian consumer is a new target for brand-creation. TheCult of the Luxury Brand illuminates the mysterious inner workings of Asia’s love affair with luxury for business professionals and intrigued consumers alike.
- Sales Rank: #1870951 in Books
- Brand: Brand: Nicholas Brealey Publishing
- Published on: 2007-01-09
- Original language: English
- Number of items: 1
- Dimensions: 9.45" h x 1.12" w x 6.59" l, 1.31 pounds
- Binding: Hardcover
- 320 pages
- Used Book in Good Condition
Review
"Fascinating. Full of insight and vital source material for anyone interested in understanding modern Asians." -- Miles Young, Chairman of Ogilvy & Mather Asia Pacific
"Painstakingly researched and easy to read, an amazing look inside the luxury brand trade." -- Ambar Brachmachary, President of JWT Japan
Asia has fallen madly, deeply, hopelessly in love, and the objects of its affection are Louis Vuitton bags, Ferragamo shoes and Burberry trench coats. What spurred this regionwide obsession with Western luxury brands? Radha Chadha and Paul Husband analyze the phenomenon in an in-depth study of the "luxeplosion" reverberating throughout Asia. New money is upsetting old ways, allowing people to buy their way to the top of the status ladder. Chadha and Husband identify how this luxury mania took hold, country by country. Savvy marketers can use this information in their plans to penetrate the Asian market. The prose is lively, engaging and witty, elevating this marketing manual into the fun-to read category. -- The Press-Enterprise, July 7, 2008
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
From the Publisher
"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 abou 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
"Luxury brands have become a cult in many Asian markets. In this superb book, Chadha and Husband describe the economic, social and cultural forces that have fueled this trend. Through a series of case studies and insightful analyses, they highlight new marketing tools that companies are successfully implementing to create and build this 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
"The authors have delved into the psyche and the motivation of the most fascinating consumers in the world. This book is an 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 flabour 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
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.
Most helpful customer reviews
0 of 1 people found the following review helpful.
As True as Tiffany Diamonds are Desired...
By Anne Jensen
This book is ABSOLUTELY true! It provides extremely detailed and logical insight into the mindset of Asian luxury consumers, backed by easy-to-understand graphs and charts. The information in this book is well-researched and supported; this is useful for anyone looking to venture into the luxury business in Asia. It is also a must-read for anyone even remotely interested in luxury brands; the book is written in a very enticing manner that isn't in the least bit boring! Definitely will be a favorite on my bookshelf.
0 of 1 people found the following review helpful.
Good insight on Asian market
By Monique S.
If you are thinking about investing a business in Asia, this is one of the books you must read. You'll learn a lot about what Asian people in different countries think and behave and reasons behind all their behaviors. One drawback is that the auther didn't go deeper in Southeast Asian markets. I would love to know more about SE Asia since they are totally unique markets. People assume that they are just like China, but they are not.
1 of 2 people found the following review helpful.
It's not about the product
By Ed O'Brien
This is a great book that allows you to learn much about the Asian Culture while you learn much about the different luxury brands and their marketing approach.
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