Luxury is dominated by older brands. So what happens when newer entrants try to break through? In the second of two bonus episodes, we show what can go right—and wrong.

So opulent! So exclusive! In the first of two bonus episodes, we explore everything that helps brands like Ferrari and Manolo Blahnik scream luxury.

In the fifth and final episode of our series, “Extraordinary Brands and How to Build Them,” we look at how to measure your brand’s health–and what you should do if you don’t like what you learn. Kellogg professors Julie Hennessy, Jennifer Cutler, Jim Lecinski, and Tim Calkins will explain how to...