ABSTRACT
This chapter explores the firm analysis and argues that creativity is a much-needed aspect to achieve extraordinariness. It aims to explain how creativity is not just a superficial aspect but also linked to value creation. The chapter focuses on the interplay between creativity and the firm strategy. It provides clarity to manage creativity for luxury firms. It provides the key principles to manage creativity in luxury firms to stimulate value creation. A luxury firm cannot claim to be extraordinary unless it can claim a self approach to go beyond normality, which is intimately linked to being able to create on its own. On many occasions, creativity and innovation are used indistinctively. Luxury managers should carefully assess how a firm approaches creativity. Fashion companies rely on creativity to stay relevant. However, product design is not the only form to stimulate creativity within the firm.
