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Standardization-Adaptation Dilemma in Marketing Strategies of Global Luxury Retail Companies: the Cases of LVMH and Kering

Student: Alena Mamicheva

Supervisor: Sergei Shaposhnikov

Faculty: Faculty of World Economy and International Affairs

Educational Programme: International Business (Master)

Year of Graduation: 2020

The research looks into the standardization-adaptation dilemma of marketing strategies in the global luxury retail industry. Nowadays, choice between standardization and adaptation becomes a very prominent challenge for global luxury companies, as most of them being originated in Western countries now have to adapt to new markets as global luxury consumption growth becomes concentrated in the emerging markets; as luxury marketing is quite distinctive due to the nature of the product it sells, solution to the dilemma also might prove to be unconventional; finally, existing lack of comprehensive studies on standardization-adaptation dilemma in international marketing strategies of luxury companies throughout the marketing mix and across different geographies requires a deeper look into the topic. The above listed constitutes the relevance of the chosen research topic and its goal that focuses on the assessment of global luxury companies’ approach to standardization-adaptation dilemma in their marketing strategies. The research is based on case studies focused on two industry-leading companies: LVMH and Kering. Results of the research have shown that global luxury retail companies have, indeed, found quite unconventional solutions to the dilemma by embedding local elements into their global strategies rather than trying to separate completely local and global levels. Such approach allows, on the one hand, to decrease costs by using primarily standardized strategy around the world, while, on the other hand, maximizing returns on strategically important markets by appealing to them through inclusion and diversity values and adaptation in certain areas that does not impact the global image and positioning.

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