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2013/2014  KAN-CCMVU3020U  Luxury Management and Marketing; artful European strategies for global markets

English Title
Luxury Management and Marketing; artful European strategies for global markets

Course information

Language English
Exam ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration One Quarter
Course period Fourth Quarter
Changes in course schedule may occur
Tuesday 11.40-15.10, week 14,15, 17-21
Tuesday 11.40-16.05, week 22
Time Table Please see course schedule at e-Campus
Max. participants 50
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Elen Riot - MPP
  • Pierre Guillet de Monthoux - MPP
Administrative Contact: Karina Ravn Nielsen, krn.lpf@cbs.dk or tel.: 38153782
Main academic disciplines
  • Philosophy and philosophy of science
  • Globalization, International Business, markets and studies
  • Innovation and entrepreneurship
  • Marketing
Last updated on 07-04-2014
Learning objectives
Mastering the models their assumptions and conditions of managerial application of; Market Semiotics, Market Exegesis and Market Aesthetics
  • Identify and present in wirting a new case of European Luxury Value Creation based on inspiration from similar historical cases.
  • Present and reflect on the managerial implications of luxury goods value chain in form of a business plan.
  • Grasping the differences between "arts" and "crafts" and creatively discern how technology might hybrize them into new luxury propositions on the market
Luxury Management and Marketing; artful European strategies for global markets:
Examination form Oral exam based on written product

In order to participate in the oral exam, the written product must be handed in before the oral exam; by the set deadline. The grade is based on an overall assessment of the written product and the individual oral performance.
Individual or group exam Group exam, max. 4 students in the group
Size of written product Max. 10 pages
1. stud max. 5 pages and groups of 2-4 students max 10 pages
Assignment type Synopsis
Written product to be submitted on specified date and time.
20 min. per student, including examiners' discussion of grade, and informing plus explaining the grade
Preparation time No preparation
Grading scale 7-step scale
Examiner(s) Internal examiner and second internal examiner
Exam period May/June and August
Make-up exam/re-exam
Same examination form as the ordinary exam
Course content and structure
Luxury is commercially successful! Despite the economic crisis since 2008, European luxury brands have been unflinchingly successful, a few Euro-based multinationals such as LVMH, PPR and L’Oreal have overperformed many industrial blueships positioned in industries referred to basic needs (energy, water). This situation is partly explained by the opening of new market in emergent countries such as China, India and Brazil. According to most analysts, luxury, and especially its Euro practices, therefore reflects recent changes in global capitalism. Because luxury brands are omnipresent in the media, it is safe to say that luxury communication corresponds to evolutions in the dominant representations. This calls for an analysis of aesthetics and values in relation to the new influence of large luxury brands. How come artful European marketing and management is so in sync with global developments, and how can this enhance Euro global competitiveness?
We explore the new partnerships between large luxury brands (managed by private European companies) and artists (in relation to art institutions ). For instance, three biopics of Coco Chanel were recently issued and were seen by millions of people around the world. Videos by Karl Lagerfeld (current designer of Chanel) were also posted on the Internet as « art advertisement ». This goes beyond the traditional « product placement » strategy, and it makes it difficult to set a limit between advertisement and creation. The partnership between Louis Vuitton and visual artist Takashi Murakami also questions the nature of each operations and roles within « creative industries ».
Within « creative industries », we may observe a reconfiguration of the hierarchy of talents and skills that were so far orchestrated by art institutions. Today we witness an ongoing fusion of culture with commerce; a process that renders European luxury artful.  
This leads us to reflect on the role of the media audience and visibility on the evaluation and management of skills and resources (copyright rules, contracts) and on the combinations of rare resources (precious materials, prestige locations) and skills (arts and craft traditions) to create unique offers. We also pay attention to the reinterpretation of artistic and cultural codes in a time where mixes, hybridizations and samplings are very popular.

In order to appreciate the specificity of  European strategies students are provided with toolbox of methods consisting of;
Market semiotics (images, symbols and styles and in particular brands)
Market exegesis and text-analysis (story-telling, stylistic devises)
Market aesthetics; identify specific experiences (feelings, emotions, senses) evoked by marketing and management methods

Teaching methods
The course includes reading notes, case-study discussions and situated learning sessions with international guest speaking top luxury managers; visits of Copenhagen luxury boutiques and artful spaces for participant observation experience.

Examples of lecture title are:
• The main luxury firms and their projects with artists
• Auction houses, fairs and galleries; commercial connections to Venice Biennale and Basel Art Fair
• Commerce before and after pop art,
• Patronage as strategy; from private to corporate collections
• Visibility and cultural event management
• Artepreneurs; market for talents, pools of skills and rare resources;
Expected literature
Austin, R. Devin, L (2003) Artful Making, Financial times press
Austin, R. Devin, L. (2012) The Soul of Design, Stanford University Press
Barthes, R. (1967), System of Fashion, University of California Press:Berkeley.
Baudrillard, J., (1979), Seduction, Sage, London
Baudrillard, J., (2005), The Conspiracy of Art, Sage, London
Benjamin, W. 1936, (edited 1968). Hannah Arendt. ed. "The Work of Art in the Age of Mechanical Reproduction",
Illuminations. London: Fontana. pp. 214–218
Bourdieu, P. and Haacke H., (1994), Libre-échange, Editions du Seuil, Paris
Bourrieau, N.2002.  Relational Aesthetics. Les Presses du réel, Dijon OBS
Droste M., Le Bauhaus : 1919-1933, réforme et avant-garde, Tashen, Hong Kong, Cologne,, 2007
Guillet de Monthoux, P. 2004 The Art Firm, aesthetic management and metphysical marketing.Palo Alto; Stanford University Press
Guillet de Monthoux, P.,Gustafsson, C.,Sjöstrand, S-E.,2007. Aesthetic Leadership. Basingstoke; Palgrave McMillan
Hall, S., Cultural Studies
Hjorth D. and Steyaert, 2009, Aesthetic entrepreneurship, Sage, London
Kapferer J-N. and Bastien V., 2009, The luxury strategy, break the rules of marketing to build luxury brands, Kogan Page, London
Klein, N., No Logo
Lipovetsky, S. (2003), Le luxe éternel (with Elyette Roux), éditions Gallimard, Paris
Moeran B. and Strandgaard-Pedersen, J., 2011, Negotiating Values in the Creative Industries, Cambridge UP, Cambrige
Moulin, R. (1995), De la valeur de l'art, editions Flammarion, Paris
Moulin, R. (1999),Sociologie de l'art, editions L'Harmattan, Paris
Moulin, R. (2000), Le Marché de l'art. Mondialisation et nouvelles technologies, Editions Flammarion, Paris
Prigent, L., 2005, Signé Chanel, Arte Vidéo
Prigent, L., 2009, Le jour d’avant, Arte Vidéo
Sassen, S., Globalization and its Discontents, New York, New Press, 1998
Siebenbrodt M., Schöbe L., Bauhaus : 1919-1933, Parkstone, New York, 2009
Steele, V., Encyclopedia of Fashion
Verger, A., 1987. - "L'art d'estimer l'art. Comment classer l'incomparable", Actes de larecherche en sciences sociales, 66-67, 105-122

White, H.C., 1981. - Production market as induced role structures, in Leinhardt, S., Ed. -Sociological methodology. - San Francisco: Jossey Bass Publishers. - 1-57

White, H.C. et White, C., 1991. - La carrière des peintres au 19ème siècle.- Paris:Flammarion.
Coco Chanel (three biopics), on documentary by L. Prigent and online videos by Karl Lagerfeld
Diane Arbus (biopic)
The day before (Loïc Prigent, video documentaries on fashion-shows in the making, four houses)
Stellarc (performance)
The Stein (video documentary)
Videos : Cannes Festival, Oscar Ceremonies (with fashion in mind
Zara fast fashion
Last updated on 07-04-2014