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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: #2105316 in Books
- Published on: 2015-09-17
- Released on: 2015-09-17
- Original language: English
- Number of items: 1
- Dimensions: 9.00" h x .63" w x 6.00" l, .98 pounds
- Binding: Paperback
- 228 pages
Review
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 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 Brahmachary, President of JWT Japan 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 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 The authors have delved into the psyche and the motivations 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 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 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
25 of 32 people found the following review helpful.
Shameful
By Jaime
While it poses as research, the book is nothing more than an extended advertisement for luxury brands. The writing is nauseating as the authors gush with empty clich� after clich�. The book contradicts itself at numerous turns, is inaccurate, makes unsupported gross generalizations, and consistently offends.
The book is racist, particularly towards the Chinese. In one passage Chinese customers are likened to a classless prostitute: "it's like Julia Roberts in Pretty Woman, on Rodeo Drive with a stash of cash. How do you serve a constant flow of mainland Julias without upsetting local customers (p113)." They are sexist as well, repeatedly insinuating that the majority of women buying luxury items are using someone else's money. They note that some women are happily compensated for their husband's affairs by being able to shop and some view their marriage like a financial transaction that presumably fulfills them with the purchase of luxury goods. For these wealthy wives, secondary wives, and mistresses, luxury consumption is important because the longer women can stay pretty through these extravagant purchases, the longer they will be able to "hang on to their man" (124) or get them back if they have lost them. Additionally, in numerous places in the book they note how girls in Asia all desire rich husbands so that they can buy luxury items. And, even within the very small space given to employed, professional women, the authors that these women are high maintenance, thus even working women aren't independent but are destined to be maintained. Finally, and even more shockingly, the authors imply that it is more worthwhile for unmarried women to spend money on luxury goods than having money be "sucked away into childcare and mortgages" (56).
Of course, they are classist as well. They note of rich Hong Kong wives, the better customers are those who "have had plenty of time to refine their senses on Daddy's money, and are well-traveled, overseas-educated, sophisticated women who set their own standards (122-23)." Further, they consistently label those that can afford luxury goods as educated consumers, savvy individuals, and significant people in the world. In one passage, they tacitly approve of a group of Hongkongese that were able to get drivers, maids and valets to line up to buy luxury goods. It seemed as if the authors applauded these wealthy consumers for educating their servers in the benefits of luxury shopping.
The writers are astoundingly irresponsible. In one paragraph they can talk about schoolgirls sleeping with older men to buy a purse, full-time prostitutes wanting the same, people going into so much debt they commit suicide and office ladies skimping on their food budgets to purchase these items. In the next paragraph they can fluidly continue to promote luxury sales, without a thought to the consequences they just outlined. Additionally, they note that it is very important in Asian cultures to own luxury items as they are the cornerstone of self-esteem. They shockingly suggest that it is a positive thing for individuals to base their sense of self on the goods they own, the only problem is that some individuals just don't have the means or education about luxury brands to do so currently. Thus, parents that protest when their teenagers want to buy $500 purses just don't understand. Rather than an argument for promoting more modest consumption they are essentially saying that despite the tragic consequences of desiring such expensive goods, it is just part of Asian culture, it is simply the means by which self-esteem is accrued and thus there is nothing that can be done to stop it.
They seem to see luxury goods as a human right, and any nation that doesn't foster this trend is depriving its citizens. In one quote: "as India's economy develops, the next stages are inevitable and the cult [of desire for luxury goods] is destined to spread. It would be worthwhile for India to get ready for this, by for example, building high-end retail infrastructure, which the country sorely lacks" (47). I can think of a few infrastructural projects that India sorely lacks, and I can assure you that a Gucci store is not on my list. Of Taiwan; "luxury goods have become the great social leveler, and observers talk about the democratization of the market as though a designer logo is every status-conscious citizen's right" (130). Further in this vein, they agree with a theorist that finds that luxury consumption promotes unity and peace, citing that in Hong Kong people all share "the obsession with money and materialism to the exclusion of all else (117)." This is possible because Hongkongese don't have a strong cultural background; "like a good Chinese mistress, Hong Kong has given her body to Britain and now China, but neither of them decisively owns her heart or soul (118)." Why fight if everyone can have nice things? Hongkongese, like a good prostitute, give their body away but save their real love for money, and thus, there is peace.
Though they recognize that some might see "luxe gluttony" as "one of the seven sins" you also might view it as "a twenty-first-century virtue essential for the health of the economy" (104). Hmm, I wonder where they fall. They never interrogate the inequalities that make such expensive purchases possible for the few. They never interrogate who makes these goods or how their conditions of employment might not appear so harmonious. They never even mention the fact that high end brands are at the forefront of presenting unrealistic body images for women and men, and that this in itself is a huge reason for pause. And, as noted above, they mention but do not interrogate the problems with the widespread use of luxury goods as a primary provider of self-esteem and identity. This book is a careless, thoughtless piece of work by individuals who shamelessly promote consumption for the wealthy regardless of the costs.
7 of 9 people found the following review helpful.
A five-star book
By Helena Hu
This book is one-of-a-kind in the industry, studying the luxury shopping habits of Asians by analyzing their past present and futures. It's chock full of well researched luxury facts and figures essential for people working in the luxury industry. For luxury enthusiasts, the book has a wonderfully witty and wicked sense of humour that keeps one's reading fast paced and lively.
Highly recommended.
1 of 2 people found the following review helpful.
Provides a much-needed overview of the Asian market
By Jordan Phillips
This is one of my favorite books about the luxury industry, and it provides a much-needed overview of the Asian market and its relationship with luxury brands. In my opinion, it is the most accurate and well-written book about luxury in Asia to date. There are others in the category, but they seem to just scratch the surface. Paul Husband and Radha Chadha clearly know their subject, and it shows.
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