One of the great ways to kill a luxury brand, albeit slowly, is to move down-market. If you are a luxury brand that really aspires to be a mass brand, then create and execute a strategy to be distributed in as many mass market outlets as possible. If you aspire to be a top-rated luxury brand, then you must serve high net-worth consumers, be unique and exclusive, limit your distribution, and maintain impeccable service. Great quality is not enough. Focus on going up-market with bespoke, one-of-a-kind, custom-made, made-to-order, limited edition product and deliver service to match. Only then will the new, growing multi-millionaire consumers globally be willing to pay a premium for your products long-term. Channel management issues are focused on dropping marginal and unfocused retailers to improve the strength of the brand franchise for those remaining. Investment in flagship monobrand stores augments the brand's prestige and presents it as a lifestyle concept.

Take away the signs and logos of many so called "luxury brands" and wealthy consumers would probably not be able to identify who is who. The same is true for services. Stop emulating your competition and innovate, create never-before-seen products and categories that are relevant and that revolutionize your industry. If luxury has any claim to fame, it is in innovation and novelty. Demand innovation and you will get it.

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