A Study On The Brand Management Strategy Of Italian Luxury Brands In China

Italian luxury goods are an indispensable part of modern business society.Italian luxury brands play a relevant role in modern luxury consumption;at the same time,China plays an increasingly important role in the global luxury market.In fact,in the recent years the Chinese market has set off a luxury consumption boom.As a result,many Italian luxury brands have accelerated their entry into the Chinese market.However,Chinese luxury consumers have now a deeper understanding of luxury consumption.They are more familiar with the quality of imported products and with foreign luxury brands.As a matter of facts,Chinese consumers have changed,they regard luxury goods as unique and real experiences.Consequently,many luxury brands begin to experience “market chills”.Therefore,Italian luxury brands need to adjust their strategies to adapt to market changes.In this context,this paper focuses on Italian luxury brands in China,in order to understand their position in the Chinese market and the strategies they need to take to succeed in the Chinese market.Specifically,this paper takes CANALI brand as a case study to study its luxury brand identity components in order to better understand the successful strategies adopted by luxury brands when they enter the Chinese market.The research object mainly focuses on brand management,especially on the importance of brand identity,and how the subsequent brand marketing strategies are related to brand identity.Firstly,this paper studies the definition,theory and literature review of luxury brand and brand identity,and emphasizes the differences between general brand and luxury brand in marketing mix strategy.After that,based on CANALI's brand experience and examples,this thesis researches CANALI's development history and business status in China,and lists some challenges encountered in brand management and brand marketing at this stage.This paper analyses the internal and external environment of CANALI brand,and pays attention to its brand identity.Then,this paper puts forward the improvement strategy,which will be based on three elements: consistency of different brand identity components,characteristics of the local market and brand awareness among consumers.In view of the transformation of China's luxury market,how to adjust the marketing model and strategy according to the brand image is still a relatively new topic.The research on Italian luxury brand and CANALI brand management strategy not only has certain reference value for itself,but also provides certain reference and inspiration for other brands.