The family business in the luxury and fashion market: an Italian - French market driver

Abstract

The purpose of this thesis arises from a strong interest in companies operating in the luxury and fashion market and from the prospect that the author will continue his career in this market. Firstly, he analyses and attempts to define the broad topic of Family Businesses (FBs). Furthermore, the main topic is the family business phenomenon in the luxury and fashion context. The luxury-fashion business is very relevant in the global economic context and the FB model appears frequently in luxury-fashion companies; using the 4 Cs Miller and Le Breton-Miller model, he examines the reasons of this relationship. In the following, he describes the luxury and fashion market and the mutation that took place in the last 20 years with the several FBs acquisitions made by French conglomerates, analysing the causes and advantages of those mergers. Finally, he takes a closer look at the evolution of the Italian market, clarifying the difficult question: Why is not there an Italian LVMH/conglomerate despite the large presence of traditional luxury-fashion companies in Italy? One tricky question, two different issues as causes; at the end an additional recent topic that could be further researched in the future: will Italy be a potential main manufacturer for luxury and fashion market?