Deepening Business Relationships Through Art

Abstract

Collecting contemporary art and supporting art projects can be a powerful means to develop an organisation and to increase its capacity to create value. As a consequence, several of the industry’s leading brands, including Prada, Trussardi, Louis Vuitton, Hermes and Cartier, have begun investing in and supporting the fine arts through the establishment of their own art foundations dedicated to the collecting and presentation of contemporary art. This chapter introduces a framework to show how successful brands take advantage of the unique characteristics of the arts and lay the foundations for a series of case studies analyses exploring the links between fine arts and luxury brands.