The Increasing of the Regional Development Thanks to the Luxury Business Innovation

The Increasing of the Regional Development Thanks to the Luxury Business Innovation

Elisa Giacosa (University of Turin, Italy)
DOI: 10.4018/978-1-5225-9273-0.ch096

Abstract

Innovative business models in a large and medium-sized luxury sector have not been widely discussed in the literature in terms of their impact on the regional development. Present publication is therefore aimed at filling this gap and to verify if innovative solutions and regional development may be linked to achievement of the competitive advantage. The benefits deriving from analysis conducted are: i) improved management of innovation strategies thanks to business model developed and ii) increase of consumer awareness about advantages of innovative products. For the purposes of research, a qualitative approach has been used. Only multiple internationally-recognized companies of large and medium dimensions have been considered due to their innovative business orientation passed down from one generation to the next.
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Background

A wide range of researches has discussed the issue of luxury business, dividing it in two following categories, which enable to understand the idea of luxury goods(Chevalier & Mazzalovo, 2008; Giacosa, 2011; Okonkwo, 2007):

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