Duma, Fabio
Harnessing digital transformations as a heritage luxury fashion brand
- 2020.
80
Digital transformations are presenting the world of fashion and luxury with new challenges. The relationship between luxury brands, digital technology, and the internet is particularly complex. Disruptive IT-driven innovations are forcing luxury fashion brands to try and keep pace, and companies are called upon to develop future-proof business models that utilize digital technologies and e-business concepts in order to adapt to changing consumer behaviors. However, what might be seen as obvious for large multinational companies or start-ups comes with its own set of challenges in the case of small and medium-sized heritage luxury brands with decades, or, in some cases, centuries of history behind them, as well as an established culture and reputation attached to them. The present case study examines how a traditional Swiss heritage luxury fashion brand chose to react to digital transformations, and draws key lessons and recommendations for similar companies. JEL codes: M30, M31