A luxury brand is far more than a logo or a price tag — it is a living idea that lives in people’s minds. Managing that idea wisely, keeping it desirable, distinctive, and valuable for decades, is the heart of strategic brand management in luxury. In this chapter, we explore the frameworks that measure brand strength, the smart (and sometimes dangerous) ways to grow a luxury brand, and how even great houses can stumble — and how they can fight their way back.