Considering the luxury sector as an élite phenomenon, the reference target is represented by an élite group of extra-rich people. Due to luxury democratization, luxury is becoming a prerogative of a less restricted range of people, bringing growth potential to luxury companies. Businesses operate in three different luxury levels: non-affordable luxury, intermediate luxury and affordable luxury. The global financial crisis has influenced the luxury sectors, but the luxury market has recently begun a new growth phase also due to the affordable luxury. Therefore, luxury business is a rather interesting context for business combinations as a means for the company growth, given the trends in global luxury consumption and forecasts.The book focuses on the analysis of the particular characteristics of management of companies in luxury business, especially to support a profitable growth. It also analyzes M&As in the luxury context which has shown its attitude towards increasing its appeal even towards “day trippers”and new emerging markets. The relations between companies and their contexts create opportunities for greater competitive advantages, as well as for increases in size. Business combinations are a means for the external growth.M&As are usually performed with the purpose of achieving external growth and integration is crucial to the success of any such operation. The main forms of acquisitions in the luxury business are vertical, horizontal and concentric ones. Such large groups often pursue external growth by purchasing other companies that own strong brands. In the M&As, the luxury brand can be considered as a measure of luxury: a product marked by a luxury brand is also considered a luxury product and customers’ perception of a brand defines it as a luxury one. Thanks to its value, a brand generates so-called goodwill and increases the performances of the M&As.