Exploring luxury fashion brands' strategic response to crisis : a multiple case study on surviving the Global Financial Crisis
The Global Financial Crisis, 2007-2010, affected the luxury industry, causing an 8% overall decline, major consumer behavior shifts, and increased competitive pressure on luxury fashion brands' strategic responses (Cavender & Kincade, 2014; Halliburton & Kellner, 2011; Savelli, 2012; Som & Blanckaert, 2015). The few studies conducted on luxury brands' strategic response to the financial crisis (Cavender & Kincade, 2014; Som & Blanckaert, 2015) have focused on luxury conglomerates, e.g. parent companies owning multiple individual brands (Som & Blanckaert, 2015) and mono-brand houses, e.g. individual ...
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