Milton Pedraza, CEO and Founder of The Luxury Institute, outlines a new manifesto for brands to not only survive but thrive in a more hostile luxury market. Humbler attitudes, greater dialogue and unique pitches are all part of the transformational twelve rule white paper:
The luxury industry is experiencing unprecedented upheaval. A new landscape demands a reinvention of massive proportions. In 2009, in the midst of tumultuous change for the industry, the Luxury Institute reviewed five years of global proprietary luxury brand ratings surveys, fielded attitudinal and behavioral surveys with wealthy consumers, conducted intimate and candid discussions with dozens of luxury executives at all levels across the world, and studied business models and technological advances across several consumer industries. We have translated our findings and recommendations into 12 Rules for the 21st Century Luxury Enterprise. – from LuxurySociety