Luxury Fashion Economics explores the surprising economic influence of high-end fashion, revealing how this industry shapes global trade, labor practices, and consumer behavior. Contrary to its superficial image, the book exposes luxury fashion as a significant economic force. Brand value isn't just about perception; it's meticulously crafted through pricing strategies and supply chain management. For example, the book details how intellectual property protection is crucial for maintaining exclusivity and commanding premium prices in international markets.
The book's approach is interdisciplinary, blending economics with marketing, sociology, and environmental studies to provide a comprehensive view. Through case studies of specific brands and regions, it highlights the diversity of business models within the luxury sector and their varying impacts on different economies. It addresses ethical considerations, such as labor exploitation and environmental degradation, examining controversies related to fast fashion's appropriation of luxury designs and the role of social media.
The book progresses by first introducing fundamental economic theories, then exploring industry case studies, and finally connecting theory to ethical considerations, offering potential solutions for a more sustainable future.
