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Published in:
2014 | OriginalPaper | Chapter
The Family Business Model in the Luxury Fashion Context
Author : Elisa Giacosa
Published in: Innovation in Luxury Fashion Family Business
Publisher: Palgrave Macmillan UK
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We established the context for the luxury fashion business, distinguishing in relation to the affordability of the products. Taking our cue from the Miller and Le Breton-Miller model (2005), we have attempted to create a new model, identifying a series of specific features of family businesses which represent a competitive advantage in the luxury fashion context, as they typify attitudes and values typical of family businesses. These particular features are the following: corporate heritage; long-term vision in investment strategy; specialization; internal and external relationships; tendency to innovate. These particular features affect the propensity to innovate, which is the core topic of the book.