How “Familiness” Influences the Business: Cases from the Luxury Industry

In the current literature, several authors have exploredthe peculiarities of family businesses (Aronoff & Ward, 1995;Astrachan & Shanker, 2003; La Porta et al., 1999). On the otherhand, attention has been devoted on the characteristics of luxuryfirms (among others Mosca, 2008; Brioschi, 2005; Aiello &Donvito, 2006). However, to the best knowledge of the authors, noattempts have been made so far to investigate the “familiness”and the entrepreneurial orientation in family firms operating inthe luxury market. This article starts from the availableliterature on the subject, and aims to show how the strengthsarising from the fact of having an entrepreneurial family andbeing a luxury brand, are interwoven. The synergy that is thuscreated, leads to a fundamental competitive advantage, creatingloyalty and making the products highly desirable. The paperfurther investigates the relationship that exists betweensuccessful brands in the luxury market and the family componentof the company. It also shows how “familiness”1 can contributeactively to the success of a brand in the market of high-endgoods, and how it can ensure the longevity of family businessesoperating on the luxury market