Exploring the internationalization pathways of luxury SMEs: is there an asset of foreignness?
通过研究意大利奢侈品时尚中小企业的案例，发现企业特性、原产国形象和行业全球性可将外来者劣势转化为资产，助力其成为天生全球化企业。
Purpose The paper delves into the international expansion of luxury SMEs to investigate their internationalization pathways, namely how the internationalization process unfolds in terms of timing of entry into foreign markets, the geographic scope of operations and the scale. The paper examines also the determinants of the internationalization pathways as a set of factors that contribute to developing an asset of foreignness. Design/methodology/approach The paper adopts a multiple case study approach and reports findings from four cases of Italian SMEs operating in the luxury fashion industry. Findings SMEs’ specific characteristics at the firm and entrepreneurial levels (i.e. craftsmanship, quality, product creativity, entrepreneurial mindset), country of origin attributes (e.g. Italy’s positive image) and the inherently global nature of the luxury industry, can turn foreignness into an asset of foreignness that allows luxury fashion SMEs to pursue internationalization pathways of born globals. Originality/value The paper highlights that the global luxury market is not the exclusive domain of MNEs and sheds light on luxury SMEs, overlooked by extant literature. The paper also contributes to understanding early internationalization by highlighting a potential link between internationalization pathways and foreignness and discussed the asset of foreignness by extending it to SMEs.