Products that comprise more than what is essential and ordinary compared to other items of the same kind, which involve their strong degree of exclusiveness, selectiveness, extraordinariness, superiority, aesthetics, rarity, price, quality, and many other intangible features and symbolic meanings.
Published in Chapter:
The Blending of Luxury Fashion Brands and Contemporary Art: A Global Strategy for Value Creation
Federica Codignola (Università degli Studi di Milano – Bicocca, Italy) and Elisa Rancati (Università degli Studi di Milano – Bicocca, Italy)
Copyright: © 2016
|Pages: 27
DOI: 10.4018/978-1-5225-0110-7.ch003
Abstract
The chapter observes the blending of luxury fashion brands and the specific field of contemporary art. Moreover, the chapter identifies the particularly positive effects deriving from contemporary art in the creation of value for luxury fashion brands. Therefore, the issue discussed is whether contemporary art may represent a possible strategic tool for competing in the global world of the luxury fashion industry. The chapter observes: the commercial and creative implication of luxury fashion brands and the global phenomenon of contemporary art collaboration; the variance of luxury fashion brands and contemporary art collaboration phenomena from the perspective of the consumers and from the perspective of the brands; the current examples of luxury fashion brands and contemporary art collaborations. In conclusion, managerial insights on the implementation of artistic collaboration are highlighted, and suitable strategies for luxury fashion brands and firms who plan to be involved in such collaborative agreements are suggested.