Open Innovation in Italian High-end Fashion: An Analysis of Network Tie Formation by New Ventures

Vincenzo Butticè*, Chiara Franzoni, Mark Lorenzen, Cristina Rossi-Lamastra

*Corresponding author for this work

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Abstract

Using a multiple case study of Italian high-end fashion, we analyze how new ventures pursue an open innovation by forming network ties to facilitate symbolic value propositions. We identify three strategies to form these ties: leverage of extant ties, Product exposure, and Entrepreneur exposure. Discussing the specificity of our empirical setting, we find that the identified strategies accommodate an industry context where market value is socially constructed and uncertainty is high. As a result, rather than being set by entrepreneurs, symbolic value propositions result from a mix of multiple diverse network ties. New high-end fashion ventures form these ties by applying strategies facilitating flexibility through open-ended search.
Original languageEnglish
JournalJournal of Industrial and Business Economics
Volume50
Issue number4
Pages (from-to)849–875
Number of pages27
ISSN0391-2078
DOIs
Publication statusPublished - Dec 2023

Keywords

  • Open innovation
  • Formation of network ties
  • Symbolic value proposition
  • High end fashion industry
  • Creative industries

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