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Luxury international business: a critical review and agenda for research

Luxury international business: a critical review and agenda for research Through a critical review of the impact of luxury international business, this study aims to contribute to an understanding of business activities that depend on an unequal distribution of income and wealth.Design/methodology/approachDrawing on a wide range of academic and practitioner literature, this study adopts a critical luxury studies approach to provide an assessment of the economic and social impact of luxury international business.FindingsLuxury is an increasingly important sector of the economy, which contributes to the welfare of increasing numbers of people across the world. Alongside its dependence on an unequal distribution of income and wealth and the negative aspects to which this gives rise, luxury business generates significant benefits to the economy and society through promoting economic growth, innovation, cultural enrichment, improved quality of the built environment and environmentally sustainable business practices. Nevertheless, an appropriate level of regulation and taxation on the excesses of contemporary luxury consumption could improve the welfare of all. Hence, luxury international business warrants investigation by critical scholars who recognize the complexity of the benefits and dark sides arising from luxury.Research limitations/implicationsThis study draws on an extensive review of academic and practitioner literature. However, primary research is required to investigate further the key issues identified.Social implicationsThrough an exploration of the impact of the production and consumption of luxury, this study reveals how luxury businesses serving the super-rich can contribute to the welfare of society whilst also giving rise to negative outcomes.Originality/valueBy adopting a critical luxury studies approach, this study offers an original contribution to the field of international business and introduces avenues for future critical international business research. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png critical perspectives on international business Emerald Publishing

Luxury international business: a critical review and agenda for research

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Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
1742-2043
DOI
10.1108/cpoib-02-2019-0018
Publisher site
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Abstract

Through a critical review of the impact of luxury international business, this study aims to contribute to an understanding of business activities that depend on an unequal distribution of income and wealth.Design/methodology/approachDrawing on a wide range of academic and practitioner literature, this study adopts a critical luxury studies approach to provide an assessment of the economic and social impact of luxury international business.FindingsLuxury is an increasingly important sector of the economy, which contributes to the welfare of increasing numbers of people across the world. Alongside its dependence on an unequal distribution of income and wealth and the negative aspects to which this gives rise, luxury business generates significant benefits to the economy and society through promoting economic growth, innovation, cultural enrichment, improved quality of the built environment and environmentally sustainable business practices. Nevertheless, an appropriate level of regulation and taxation on the excesses of contemporary luxury consumption could improve the welfare of all. Hence, luxury international business warrants investigation by critical scholars who recognize the complexity of the benefits and dark sides arising from luxury.Research limitations/implicationsThis study draws on an extensive review of academic and practitioner literature. However, primary research is required to investigate further the key issues identified.Social implicationsThrough an exploration of the impact of the production and consumption of luxury, this study reveals how luxury businesses serving the super-rich can contribute to the welfare of society whilst also giving rise to negative outcomes.Originality/valueBy adopting a critical luxury studies approach, this study offers an original contribution to the field of international business and introduces avenues for future critical international business research.

Journal

critical perspectives on international business – Emerald Publishing

Published: Jun 6, 2019

Keywords: Luxury; Luxury brands; Critical review; International business; Inequality; Super-rich; D10; D20; D30; D40; D60; F23; L80; M30; N00; O10

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