Global Сompanies Success Factors Transformation within Luxury Goods Industry

This thesis examines the evolving success factors for global companies in the luxury goods industry amidst rapid globalization, technological advancements, and shifting consumer preferences. Traditionally characterized by exclusivity, craftsmanship, and heritage, the luxury market now faces the dual challenge of catering to diverse, discerning consumer segments and adapting to the digital revolution. Through a multidisciplinary approach that includes qualitative and quantitative research methods, this study identifies key drivers of success, such as innovation, sustainability, and digitalization, alongside traditional metrics like brand heritage and product quality. The findings suggest that successful luxury brands leverage a blend of traditional and modern strategies to maintain their competitive edge, emphasizing the importance of digital transformation, core competencies, and sustainable practices. By providing a nuanced analysis of case studies and best practices, this research offers actionable strategies for luxury firms to navigate the complexities of the modern market and achieve long-term resilience and relevance. The study contributes to a deeper understanding of how luxury brands can balance tradition with innovation to thrive in a dynamic global landscape.