The Perfume of Traditions: Cultural Entrepreneurship and the Resurrection of Extinct Societal Traditions

Management research has begun to explore how cultural entrepreneurs use established or declining societal traditions to create distinctive new ventures and products. In this study, we propose an alternative pathway for creating entrepreneurial opportunities, that is, through leveraging extinct societal traditions. Extinct societal traditions yield opportunities to create highly distinctive products and ventures, yet their use entails substantial challenges. To understand how entrepreneurs can successfully leverage extinct societal traditions, we investigate the case of The Merchant of Venice, an Italian venture established in 2013 that produces luxury perfumes based on the perfume-making tradition that flourished in Venice between the sixteenth and seventeenth centuries and disappeared afterwards. Our study illuminates how cultural entrepreneurs can leverage extinct societal traditions by (a) exhuming lost knowledge and practices, (b) validating them as an authentic and appreciable tradition of a given community and territory, and (c) elevating their meaningfulness as core to place identity. Our study contributes to the literature on cultural entrepreneurship and traditions by revealing the distinct challenges that resurrecting extinct traditions entail, enriching the understanding of types, goals, and processes of cultural entrepreneurship, and widening current knowledge of the roles of tradition custodians.