The current world of luxury business is globalised, networked, uncertain, and turbulent. This chapter integrates insights from the socioecological approach to strategy, service-dominant logic, and institutional theory to conceptualise a systemic luxury strategy approach. By highlighting the link between forces in the contextual environment and their consequences in the luxury ecosystem, this approach presents how luxury actors (1) design and institutionalise systems for value cocreation (micro-level), (2) reshape the luxury ecosystem (meso-level), and (3) dynamically assess and influence developments in the contextual environment (macro-level). Systemic luxury strategy is understood as a learning journey to iteratively reconfigure the landscape and reframe mental maps. The chapter concludes by exploring how engaged scholars and practitioners can enact systemic luxury strategy.

A retrospective commentary provides a look at valuable and unique findings that caused the article's high impact in the literature. At the time of the study, the majority of brand extension research focused on non-luxury brands, and the existing luxury brand extension research gave more attention to the extensions rather than the parent brands. Meanwhile, our study focused on evaluations of and attitudes to the parent brand. The significant distinction between our study and other available studies at the time - our investigation was based on practice of the chosen luxury brands rather than theory. The impact of brand extensions on the parent luxury brands was analysed and the following was evaluated: the danger of parent brand dilution; the factors leading to brand extension success; the factors leading to revitalization rather than weakening of the parent brand. In this commentary we also briefly cover two new topics that could have been included in our study or could become a continuation of the previous study today: upward brand extensions; avoiding brand extensions and using other strategies to remain appealing. Additionally, we interpret the use of our findings and insights in the literature by researchers citing the article.

We explore how the socio-ecological approach to strategy extends and enriches current theory on fields (especially Fligstein and McAdam, 2012). We do so with a socio-ecological (Ramirez and Selsky, 2016) lens which helps us analyse how contention and change work in conditions of turbulence, conditions where macro-level issues play a central role in transforming a field. Our empirical exploration of the Swiss watchmaking field in its current turbulent causal texture enables us to examine the locus of strategic action (intra-field vs inter-field) by both incumbents and challengers, and how they enact the strategic stances of preparation, relocating and reinventing collaboration. With this lens we also analyse the roles a legacy technology can play in the framing-reframing contention, where incumbents favour an 'Intra-field' framing (i.e. centred in the legacy technology) whereas challengers favour an 'inter-field' reframing (i.e. open to emerging technologies). Our research further contributes to the literature by providing a clarification of the Ramirez and Selsky (2016) strategic stances in relation to its core unit of analysis: field-level vs organizational-level vs inter-organizational network level and does so with empirical data.

En lugar de intentar predecir el futuro, las organizaciones deben potenciar su capacidad para afrontar la incertidumbre. Un nuevo enfoque de planificacion de escenarios puede ayudar a las empresas a replantear sus estrategias a largo plazo a traves del desarrollo de varios escenarios plausibles

Rather than trying to predict the future, organizations need to strengthen their abilities to cope with uncertainty. A new approach to scenario planning can help companies reframe their long-term strategies by developing several plausible scenarios.

The evolution of the luxury market: stairway to heaven? Luxury Business: Multinational Organizations and Global Specializations Finance Survival Guide: Value Creation and Pina Coladas The PIER framework of Luxury Innovation Retailing in the luxury industry Internet, Social Media and Luxury Strategy Branding Principles in the Luxury Industry Brand Extensions in the Luxury Industry Sustainable Development in the Luxury Industry: Beyond the Apparent Oxymoron

The Swiss Watchmaking Field is again entering a period of turbulence (Emery and Trist 1965) due to regulatory changes, the emergence of connected devices, volatile consumer behavior, currency changes, and relations among these factors that may challenge the capabilities for adaptation of key firms. Ramirez and Selsky (2014) suggested that in turbulent environments, a socio-ecological strategy approach emphasizing collaboration at a field level rather than competition is advisable. Based on multiple case study research, we empirically examine the application of contrasting strategic stances and principles comparing competitive strategy with the socio-ecological approach. We assess the presence of the transition, heterogeneity and subjectivity principles and how a coopetition strategic stance fares in the context of the Swiss Watchmaking Industry. We conclude by exploring new research venues.

This chapter analyzes the luxury landscape and how it affects independent luxury companies. We start by looking at one of the mainstays of the luxury business, the Swiss watchmaking industry, to reveal a stormy outlook for independent watchmakers. We then widen the context to examine the luxury industry as a whole, to get a better picture of the major forces shaping current challenges and opportunities, namely:

Linking scenario thinking and fashion design this paper explores connections to design scenarios, highlighting the role of ephemerality. First, we develop the time issues of fashion design based scenarios from the perspective of the ephemerality of contemporariness. To explore ephemeral transformations in scenario thinking we propose a conceptual framework and introduce fashion-design transformation types. We extend the "tailoring voting" conversation issued from Oxford Futures Forum 2014 to discuss prospective transformations in decision-making processes. We finally explore the implications of such a perspective for scenario planning and fashion design. (C) 2015 Elsevier Ltd. All rights reserved.

Over the years, luxury has built-up a reputation as recession proof industry. Even though the industry growth has slowed down in the mid 2000s, luxury firms have managed to cope with economic contingencies and shortening traditional demand by widening their clientele base to prestige mass consumption-the "masstige clientele". Doing so, luxury firms have been pursuing a dual strategy by wooing aspirational consumers as well as their traditional elite customers, thus managing the challenge of handling both a differentiation strategy based on scarcity and uniqueness, and increased volumes of sales. This has been a trend in mature markets such as Europe, the United States and Japan, but was significantly fostered by expanding into emerging markets. Sector specialists thus expect China to remain a major structural growth area in the medium term, where the number of both high-end clients as well as new aspirational consumers will substantially increase and influence firms strategy.

The message we develop in this book is clear: independent brands must differentiate through innovation. Innovation is probably the key strategic choice to survive in an aggressively competitive and economically destabilizing environment. In other words, innovate or perish!1 In this chapter, we present innovation in the luxury industry under its different faces, giving particular attention to the role of independents. Issues such as the role of the investor and business model innovation are explored. We then introduce the method that led to the identification of the winning innovation strategies: "back to the roots," "code breakers," "eagle in the aquarium" and "game changers," concluding with an in-depth presentation of the BA2RE® luxury strategy approach.

The rise of Brazilian luxury brands, not only in Brazil, but in other international markets, has created new and significant market opportunities. However, challenges will need to be overcome if Brazilian luxury brands are to succeed in an increasingly cluttered and competitive brand environment. This chapter gives an overview of the Brazilian luxury market, highlighting consumers’ perceptions of luxury brands. This will follow with a framework identifying possible paths for building Brazilian luxury brands.

We started this book explaining the difficulties facing a large number of business models to create value in a sustainable way. These models rely on a volume of goods or commodities, making it hard, or even impossible to decouple revenue generation from raw materials and energy consumption.