DOI: 10.5176/2251-2038_IE13.18
Authors: Bernardo Bertoldi, Chiara Giachino, Virginia Prudenza and Mia Zalica
Abstract: Several authors have explored the peculiarities of luxury companies (among others Mosca, 2009; Brioschi, 2005; Aiello & Donvito, 2006), but at present there seem not to exist studies focused on the “familiness1” and on the entrepreneurial orientation in family firms operating in the luxury market. The history of many luxury brands is, in fact, inextricably linked to the name of the founder and of his family, though they may have changed ownership in time. The products often remain faithful to the style impressed by the family and when it does not happen, the mark risks to lose enamel (an example is Gucci: in ’82 the brand entered into crisis as a result of the decisions linked to the listing and the changing of the style of products; Sgibneva, 2009). Since this phenomenon has not been thoroughly investigated, this research aims to investigate the relationship between family and business of luxury, in order to understand if, and how, familiarity affects the success of new products and whether there are common values that may ensure the longevity of family businesses on the luxury market
Keywords: luxury, family firms, product, new product development, entrepreneurial approach
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