The Devil Buys (Fake) Prada: Luxury Consumption on the Continuum Between Sustainability and Counterfeits

Abstract

Against the backdrop of the significant expansion in the luxury industry along with the ongoing process of the luxurification of mass markets and the massification of luxury brands, luxury brand managers act in the rising tension of satisfying the growing demand for luxury in the global marketplace and the effort to protect the uniqueness and exclusivity of their products. As a consequence, the alignment of luxury and sustainability is considered as a promising way to emphasize the key attributes of luxury such as heritage, timelessness, durability, and excellence in manufacturing and retailing. Nevertheless, in times of economic recession and widely available and often consumed counterfeit goods, the question arises whether the demand side is ready for the commitment to sustainability. In this context, the focus of our chapter is on the study of determinants of the “dark side of luxury consumption,” one of the largest challenges in luxury brand management: the increased demand for counterfeit branded products. The aim of the present study was to empirically investigate a multidimensional framework of counterfeit risk perception and counterfeit shopping behavior as perceived by distinct consumer segments. Even though price is often believed to be the main reason that causes counterfeit purchases, this study reveals that there are multifaceted reasons that affect consumer attitudes and behavior. Therefore, luxury brand managers have to respect and emphasize the deep-rooted values of the luxury concept: True luxury has to verify that it is more than shallow bling and superficial sparkle—the adoption of sustainability excellence is a promising strategy to demonstrate the credibility of luxury in offering superior performance in any perspective.