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The Pier Framework of Luxury Innovation

In: Luxury Strategy in Action

Author

Listed:
  • Jonas Hoffmann
  • Betina Hoffmann

Abstract

Luxury can be described as something exquisite, unique and rare; it is a combination of pleasure and aspiration. Be it a Richard Mille RM 032 Chronograph Diver’s Watch, a Montblanc Meisterstück pen, a Hermès Birkin bag or a Ferrari 458 Italia, it is a product that integrates craftsmanship, precious and rare materials, it has roots and it has a soul. It is an object of desire that is refined and positively pleasing. Above all, it represents a dream and gives you prestige. Innovation and creation are the heart of this process. Luxury innovation involves the capacity of someone at a certain moment to integrate unique skills and to sense l’air du temps to create something new, unique, an extra-ordinary product or experience.

Suggested Citation

  • Jonas Hoffmann & Betina Hoffmann, 2012. "The Pier Framework of Luxury Innovation," Palgrave Macmillan Books, in: Jonas Hoffmann & Ivan Coste-Manière (ed.), Luxury Strategy in Action, chapter 4, pages 57-73, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-36154-6_5
    DOI: 10.1057/9780230361546_5
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    Cited by:

    1. Hoffmann, Jonas & Ramirez, Rafael & Lecamp, Laurent, 2018. "Right on time - Socioecological strategy and implications of turbulence in the Swiss watchmaking field," Technological Forecasting and Social Change, Elsevier, vol. 137(C), pages 101-117.

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