Digital Transformation in the Luxury Industry

Mastropetrou, Margaret; Bithas, George

doi:10.1007/978-3-030-57065-1_11

Cited by 3 publications

(3 citation statements)

References 22 publications

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“…In general, the fashion and food sectors have been severely tested by these recent economic dynamics; the restrictions on mobility and coordination and the increase in the cost of raw materials constitute not only significant issues for these industries but also an opportunity to further innovate and rethink business models (BMs) [155]. Indeed, several companies are trying to respond to current business changes and challenges by enhancing their innovation capacity in light of digitalization and sustainability pathways [8,9].…”

Section: Digitalization and Sustainability Trends In The Fashion And ...mentioning

confidence: 99%

The Impact of Digitalization and Sustainability on Governance Structures and Corporate Communication: A Cross-Industry and Cross-Country Approach

et al. 2023

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Digitalization and sustainability are changing companies by transforming products, services and operations. While the growth of a digital and sustainable economy may increase firm performance, these new trends also raise potential challenges for companies pertaining to corporate governance structures. Companies are now faced with various alternatives regarding how digitalization and sustainability roles might be integrated into corporate governance structures. We aim to analyse how roles dedicated to digitalization and sustainability have been integrated into governance structures and how these changes impact corporate communication. We provide an explorative analysis in a sample of Italian, French and Spanish companies from the fashion and food sectors. These companies exhibit common features, analogous levels of success and critical factors and similar business models; moreover, fashion and food represent two of the main driving sectors of the selected countries’ economies. For these companies, the findings highlight a positive convergence regarding the inclusion of new corporate roles devoted to managing digitalization and sustainability processes. However, the analysis shows the different impacts of these roles on corporate governance structures and the different ways of externally communicating these impacts. In this sense, our study encourages the identification of governance models and different kinds of corporate communication that are able to promote digitalization processes and sustainable paths for companies. The paper contributes to the field of digitalization and sustainability studies and suggests insights to help practitioners manage related processes by promoting an evolution in the corporate governance structures and corporate communications of food and fashion companies.

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Section: Digitalization and Sustainability Trends In The Fashion And ...mentioning

confidence: 99%

The Impact of Digitalization and Sustainability on Governance Structures and Corporate Communication: A Cross-Industry and Cross-Country Approach

et al. 2023

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“…This is partly due to the physical limitations imposed by the recent pandemic, but it can also be explained by the new segments emerging in luxury consumption. These segments are dominated by the middle class and millennials (Kharas, 2017), termed the Luxury 4.0 model (Bertola and Teunissen, 2018;Mastropetrou, 2021). You (2014) categorises luxury into old, new and common luxury based on quality, price, availability, attractiveness and consumer segment.…”

Section: New Trends In Luxury Consumption and Wine Marketingmentioning

confidence: 99%

“…On the other hand, new consumer segments are emerging in luxury consumption, dominated by the middle class and millennials (Higgins and Wolf, 2016; Kharas, 2017). Hence, luxury consumption is becoming more accessible, available and relevant to a broader audience (Bertola and Teunissen, 2018; Mastropetrou and Bithas, 2021). Concerning wine marketing, these new consumer segments might include a higher percentage of first-time buyers who may be more involved in wine purchase (Quinton and Harridge-March, 2008).…”

Section: Introductionmentioning

confidence: 99%

Drinking in style? Literature review of luxury wine consumption

Wright

Yoon

Morrison

et al. 2022

BFJ

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PurposeThis paper aims to review and map the landscape of luxury wine consumption in multidisciplinary literature. It highlights the key themes of analysis, consumer markets and common behaviours of luxury wine consumption.Design/methodology/approachThe paper analyses 85 articles on luxury wine consumption using Leximancer and content analysis.FindingsSix main topics in the extant literature are identified as follows: product perception, wine price, wine information, consumption behaviour, group and China market. Our study revealed the shift in luxury consumption towards affordability, availability, middle-class, younger consumers and predominantly Asian markets.Research limitations/implicationsAs a follow-up to this research, empirical research on luxury wine consumption is needed to establish more precise definitions of terms.Social implicationsWine as a product is susceptible to social changes and preferences, positioning it between old and common luxury.Originality/valueThis research offers theoretical insights into research on luxury wine, including how the literature reflects recent societal changes. It also provides a roadmap for future research in this field.

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