Eurazeo is an investment company formed by the April 2001 merger of Azeo and Eurafrance.Eurazeo is a leading global investment group, with a diversified portfolio of €25.6 billion in assets under management, including €17.7 billion from third parties, invested in 450 companies.
This chapter discusses the core and defining characteristics of a luxury brand, vis-à-vis brand strength, differentiation, exclusivity, innovation, product craftsmanship and precision, premium pricing, and high-quality, as understood by the market place and industry practitioners akin. This chapter delineates a decade-long evolution of the luxury industry across different geographies around the world. Specifically, we look at each of the mature luxury markets like the United States, Italy, Japan, and Korea, and the emerging economies of China, India, and South East Asia. We then delve into the specifics of each of these important markets to understand case and context specific examples and subsequent insights from their respective luxury markets. Here again, an academic framework is used to chart the historical penetration and future growth prospects across these countries. A brief timeline of the most significant moments in the luxury fashion industry, one of the oldest categories in the luxury order, is shownto give a snapshot of its evolution to date. Within the analysis of this evolution of the industry we dwell on the key drivers of change that have encompassed the luxury industry. For example, on small and family-run organizations as compared to corporatized organization that brought professionalization into this industry. Is fashion the only driver? Not so. Is technology a key driver? Certainly not. Technology is driving the evolution of many areas of business like telephone, airspace, computers, electronics, and automobiles. The key drivers for the luxury industry are design, colors, and the five senses. Are there innovations in these spheres? What leads to these innovations? Why are some brands innovators, and some others, so conservative? What has been the trend in design and innovation vis-à-vis craftsmanship? Is the financial business model for large corporations capable of innovation? Is the stock market an obstacle to innovation? What are the chances of a small luxury creator in the world of gigantic firms? Can a creator in a French or Italian luxury house be Japanese, or Chinese, for instance, or does he or she have to be French to achieve success? Is small beautiful or is big a necessity?
