Luxury Brand Management in 2024: A Conversation with Wendy Bendoni

Introduction

In this episode of the Superlative Podcast, host Ariel Adams sits down with Wendy Bendoni, Assistant Professor of Marketing at Woodbury University, to discuss the evolution of luxury brand management education, the impact of social media and influencers on luxury, and the future of luxury brand management education.

The Evolution of Luxury Brand Management Education

Ariel: So, Wendy, I had the pleasure of visiting your Luxury Brand Management class recently, and I was really impressed with the curriculum. Can you tell me a little bit about how you developed it?

Wendy: Sure. When I first started teaching the class, I wanted to create a curriculum that was both academically rigorous and relevant to the industry. I drew on my own experience in the luxury fashion industry, as well as my research on luxury brands. I also consulted with experts in the field to get their input. The result is a curriculum that covers all the essential aspects of luxury brand management, from history and theory to branding and marketing.

Ariel: I’ve noticed that there’s been a growing interest in luxury education in recent years. What do you think is driving this trend?

Wendy: I think there are a few factors that are contributing to the growing interest in luxury education. First, the luxury market is growing rapidly, and there is a increasing demand for qualified professionals to manage luxury brands. Second, more and more students are interested in pursuing careers in the luxury industry. And finally, there is a growing recognition that luxury brands are complex organizations that require specialized knowledge and skills to manage.

Ariel: What are some of the key challenges that luxury brands are facing today?

Wendy: Luxury brands are facing a number of challenges today, including:

• The changing definition of luxury
• The rise of social media and influencers
• The increasing importance of sustainability
• The growing competition from mass market brands

Ariel: How can luxury brands overcome these challenges?

Wendy: Luxury brands can overcome these challenges by:

• Redefining luxury to reflect the values of today’s consumers
• Embracing social media and influencers to reach new audiences
• Focusing on sustainability to appeal to environmentally conscious consumers
• Differentiating themselves from mass market brands by offering unique and exclusive products and experiences

Wendy’s Personal Connection to Luxury

Wendy’s Journey

Wendy’s passion for luxury began in the glamorous realm of the fashion industry. She recalls, “I was always fascinated by the allure of luxury brands. Their ability to evoke emotions and create a sense of exclusivity was captivating.”

aBlogtoWatch and the Luxury Community

Wendy’s research extends to the vibrant online community of aBlogtoWatch. “I’m deeply intrigued by how watch enthusiasts engage with luxury brands,” she says. “Their passion and knowledge provide valuable insights into the evolving definition of luxury.”

Conclusion

Collaborative Research

Ariel and Wendy emphasize the importance of collaboration between academia and the luxury industry. “Research that combines the rigor of academia with the practical expertise of industry professionals leads to groundbreaking insights,” Ariel notes.

Evolving Luxury Education

Wendy believes that luxury brand management education must continue to adapt to the changing landscape. “We need to incorporate innovative teaching methods and real-world experiences to prepare students for the challenges and opportunities of the luxury market.”

The Future of Luxury

As the definition of luxury continues to evolve, so too must luxury brand management education. By embracing collaboration, innovation, and a deep understanding of the human desire for exclusivity, academia and the industry can shape the future of luxury together.