Luxury brands are increasingly leveraging lifestyle as a way to grow their businesses beyond core products. There are two dimensions to a brand's lifestyle approach: touchpoints like marketing channels used and categories of products offered. Some brands focus on core products and marketing while others use diverse touchpoints and offer multiple product categories and experiences. Most successful brands climb the lifestyle ladder step-by-step, first strengthening their core then exploring lifestyle through communication before fully embodying a lifestyle in their offerings. How brands leverage lifestyle depends on their heritage, with fashion houses generally better able to extend into lifestyle.
Luxury brands have always been a fascinating sector and luxury brand marketing one of the most complicated disciplines.
Packaged as the 8 P’s of luxury brand marketing, this article attempts to bring together the elements and interplay between the principles that are employed in the luxury brand marketing mix.
Everlasting luxury is the very seed of luxury as we know it today and in which the evolution of the customer and market has generated a whole series of open-ended questions.
What are the implications of this change on the management of luxury products and services? Do the existing marketing tools still apply? And how does one go about founding and preserving a luxury brand? To this end this research sets out to investigate further and establish the boundaries of everlasting luxury, proposing possible answers to these questions.
This deck details the trend, “The Redefinition of Luxury”
It looks at how the concept of luxury has changed for the middle-class consumer over the years and the brands that are doing a great job of reaching their customers in this way.
www.linkedin.com/in/anyacgonzales/
Luxury brands have always been a fascinating sector and luxury brand marketing one of the most complicated disciplines.
Packaged as the 8 P’s of luxury brand marketing, this article attempts to bring together the elements and interplay between the principles that are employed in the luxury brand marketing mix.
Everlasting luxury is the very seed of luxury as we know it today and in which the evolution of the customer and market has generated a whole series of open-ended questions.
What are the implications of this change on the management of luxury products and services? Do the existing marketing tools still apply? And how does one go about founding and preserving a luxury brand? To this end this research sets out to investigate further and establish the boundaries of everlasting luxury, proposing possible answers to these questions.
This deck details the trend, “The Redefinition of Luxury”
It looks at how the concept of luxury has changed for the middle-class consumer over the years and the brands that are doing a great job of reaching their customers in this way.
www.linkedin.com/in/anyacgonzales/
Butterfly London Neutral Identity – the new face of beautyButterfly London
Identity used to be something that you were born with and couldn’t change. Age, race, gender and nationality were firmly fixed, determining who you are and your place in the world. Now our identities are becoming fluid and changeable, reflecting the influence of social status, personality, taste and appearance. We are breaking down our societal conventions and creating more
‘trans’ categories than ever before.
5 luxury market trends in Southeast Asia (July 2013)Publicis Beijing
Publicly available knowledge on the luxury market is typically global in nature, or focuses only on the big markets in Asia like China. However, Southeast Asia holds opportunity. This deck has been prepared specifically to provide some insight to mid-range luxury brands looking to enter the Southeast Asian markets. PLEASE CREDIT AUTHOR AND BBDO SINGAPORE IF YOU WISH TO REUSE THE INFORMATION IN THIS DECK. Thanks!
Assignment - Holt Renfrew's Operation Dude: Rick OwensDana Anger
Fashion Management and Promotions Fashion Industry Assignment - Create a solution to the Holt Renfrew "Operation Dude" men's fashion initiative - Our solution: Bring the Rick Owens clothing line to Holt Renfrew
Group Branding Project
Members names on Cover page
Year 2 of BA(Hons) Degree Fashion Media & Industries Course (Fashion Marketing and Management Specialism) LASALLE College of the Arts
10 French startups disrupting the way you experience fashion online Liam Boogar-Azoulay
It may sound like a stretch to say that French people are the reference for fashion. But as we say, “il n’y a pas de fumée sans feu” (there’s no smoke without fire).
In addition to having a very prolific fashion sense, the French are also very creative when it comes to the shopping experience. The landscape of French fashion startups is flourishing those days: 6 of the 10 companies presented in this article closed a round last spring/summer season and the results of their investments are released now. Let’s open the catwalk: http://wp.me/p2OgMk-65W
Cargo Trade show is an independent Fashion trade show known as Cargo's Shopper's Delight where fashion street wear brands not only sell whole sale to buyers from across the country but also sell their inventory to the general public...now that's a stimulus package! for more info please reach me at G_Rojas@mac.com
Premium Insight is an overview of the digital activity of premium brands
and luxurious “Maisons” focusing on the most innovative strategies in
terms of display, e-commerce, social media, mobile and O2O...
Enjoy your reading !
This paper is focused on Packaging; one of the relatively long-term component in the many tools of shopper marketing. The more interesting observation is that it is right at the center of brand’s consumer proposition and brand’s shopper proposition – therefore an essential component in communication mix. A good packaging design not just motivates shoppers to choose, but it also builds brand equity and supports what is advertised.
Continuing our in-depth look at Millennials as the generation to watch, we are turning to a region in the world where they have an even greater impact on society. Although we are at risk of focusing on millennials at the detriment of other equally important demographic groups like Baby Boomers and Generation X, this is not the case in the Middle East, where they make up half of the population.
Halalification is one of the key trends that has caught our attention. No longer limited to the consumable industries of food and drink, the designation of halal is increasingly branching out to everything from cosmetics to holidays as Muslims diversify their understanding of living piously. Vague approximations of vegan or organic products are becoming less acceptable as alternatives.
Du lernst die reisejournalistische Arbeit im Herzen von Madrid kennen. In den Workshops mit den Journalisten, Layoutern und Projektmanagern aus Spanien und England wirst du bei der Planung, Recherche und Korrektur der Artikel individuell beraten. Der zusätzliche Spanisch-Sprachkurs wird von erfahrenen Lehrkräften geleitet.
Butterfly London Neutral Identity – the new face of beautyButterfly London
Identity used to be something that you were born with and couldn’t change. Age, race, gender and nationality were firmly fixed, determining who you are and your place in the world. Now our identities are becoming fluid and changeable, reflecting the influence of social status, personality, taste and appearance. We are breaking down our societal conventions and creating more
‘trans’ categories than ever before.
5 luxury market trends in Southeast Asia (July 2013)Publicis Beijing
Publicly available knowledge on the luxury market is typically global in nature, or focuses only on the big markets in Asia like China. However, Southeast Asia holds opportunity. This deck has been prepared specifically to provide some insight to mid-range luxury brands looking to enter the Southeast Asian markets. PLEASE CREDIT AUTHOR AND BBDO SINGAPORE IF YOU WISH TO REUSE THE INFORMATION IN THIS DECK. Thanks!
Assignment - Holt Renfrew's Operation Dude: Rick OwensDana Anger
Fashion Management and Promotions Fashion Industry Assignment - Create a solution to the Holt Renfrew "Operation Dude" men's fashion initiative - Our solution: Bring the Rick Owens clothing line to Holt Renfrew
Group Branding Project
Members names on Cover page
Year 2 of BA(Hons) Degree Fashion Media & Industries Course (Fashion Marketing and Management Specialism) LASALLE College of the Arts
10 French startups disrupting the way you experience fashion online Liam Boogar-Azoulay
It may sound like a stretch to say that French people are the reference for fashion. But as we say, “il n’y a pas de fumée sans feu” (there’s no smoke without fire).
In addition to having a very prolific fashion sense, the French are also very creative when it comes to the shopping experience. The landscape of French fashion startups is flourishing those days: 6 of the 10 companies presented in this article closed a round last spring/summer season and the results of their investments are released now. Let’s open the catwalk: http://wp.me/p2OgMk-65W
Cargo Trade show is an independent Fashion trade show known as Cargo's Shopper's Delight where fashion street wear brands not only sell whole sale to buyers from across the country but also sell their inventory to the general public...now that's a stimulus package! for more info please reach me at G_Rojas@mac.com
Premium Insight is an overview of the digital activity of premium brands
and luxurious “Maisons” focusing on the most innovative strategies in
terms of display, e-commerce, social media, mobile and O2O...
Enjoy your reading !
This paper is focused on Packaging; one of the relatively long-term component in the many tools of shopper marketing. The more interesting observation is that it is right at the center of brand’s consumer proposition and brand’s shopper proposition – therefore an essential component in communication mix. A good packaging design not just motivates shoppers to choose, but it also builds brand equity and supports what is advertised.
Continuing our in-depth look at Millennials as the generation to watch, we are turning to a region in the world where they have an even greater impact on society. Although we are at risk of focusing on millennials at the detriment of other equally important demographic groups like Baby Boomers and Generation X, this is not the case in the Middle East, where they make up half of the population.
Halalification is one of the key trends that has caught our attention. No longer limited to the consumable industries of food and drink, the designation of halal is increasingly branching out to everything from cosmetics to holidays as Muslims diversify their understanding of living piously. Vague approximations of vegan or organic products are becoming less acceptable as alternatives.
Du lernst die reisejournalistische Arbeit im Herzen von Madrid kennen. In den Workshops mit den Journalisten, Layoutern und Projektmanagern aus Spanien und England wirst du bei der Planung, Recherche und Korrektur der Artikel individuell beraten. Der zusätzliche Spanisch-Sprachkurs wird von erfahrenen Lehrkräften geleitet.
STARBRANDS // BUILT TO SHINE: Luxury marketingSOFAMI.PL
Nasz pogląd czyli The Brand Marriage Company na marketing marek i produktów luksusowych a w szczególności ich strategię i budowę pod kątem segmentacji konsumentów dóbr luksusowych.
Our (The Brand Marriage Company) view on luxury marketing.especially luxury brand strategy and brand building in regards to luxury consumers segmentation.
The goal of the survey was to establish an industry benchmark for digital marketers
at luxury companies. Results to this study, revealed in this report, determine
spending trends and marketing successes, as well as areas in need of further
development and investigation in the luxury market.
What is the relationship between megatrends and new business? Roope Mokka's presentation at Chalmers University drills into megatrends and creates a case for resource smart business.
We were invited by Advertising Week to give a seminar on how to drive a Return on Involvement. A diverse panel made up of our CSO Sam Noble, along with Michelle Roberts from MINI UK, co-founder of The iris Nursery John Grant and expert on brands & behaviour Mark Earls discussed the role of 'Participation Brands & Lifestyle Hacking'.
#ParticipationRules
Lifestyle Hacking with Wearables and the 5 rules of Participation BrandsIris
For the BIMA Breakfast Briefing on 20 January 2015: WHAT WILL WEARABLE TECHNOLOGY BRING US?
Ben Essen, Head of Planning and David Caygill, Creative Technology Director present the 5 rules of Participation Brands and lifestyle hacking. See examples for each one to inspire your brands adventure into wearable tech.
The evolution of telecommunications from a 2 dimensional world of capacity and minutes to a multi-dimensional services world of the 4th wave of highly personalized service delivery.
Beats vs. Bose: Analyzing Consumer Response to Lifestyle Brand Marketing and ...Crimson Hexagon
What drives consumer purchasing intent? How can social media analysis deliver consumer insights into how to position marketing strategy? To answer these questions, we did an analysis on two well-respected headphone brands with completely different marketing approaches.
We dove deep into contextualizing online converations to discover a comparison of top personal sound system competitors.
What's Next? Megatrends Shaping Tomorrow's Society and Rebooting DemocracyNino Lo Cascio
Megatrends Shaping Tomorrow's Society & Rebooting Democracy;
- IT Industrialisation
- Information Explosion
- "Everyware" - The Mobile Internet
- Natural UI
- Aging Population
- Digital Natives
- New emerging democracy model
- Scenarios 2020
Megatrends, innovation and futureproofing.Mark McCrindle
Avoiding change fatigue and thriving amidst the chaos is the requirement of leaders today. Futureproofing requires us to not only observe the trends but to strategically respond to them. Futurist and data scientist Mark McCrindle analyses the top demographic and social trends to help us know the times.
How Cult Brands like Apple, Harley-Davidson, IKEA, Zappos, and Southwest Airlines create customer loyalty.
Certain businesses excel at fostering undying, cult-like following among their customers. Our study of Cult Brands reveals seven rules any business can follow to attract loyal customers.
An overview of the omnichannel strategies adopted by Louis Vuitton. The additional slides are used as a report. Briefly, it analyzes the new trends in the fashion business.
Fashion Through the Decades: A Journey from Minimalism to Sustainability.' From the sleek minimalism of the early 2000s to the social media-driven trends of the 2010s and the sustainable individualism defining the 2020s, this article unveils the secrets, challenges objections, and leaves no fashion stone unturned. Join us as we rediscover the magic of fashion through the ages—a tale of elegance, influence, and the evolving tapestry of self-expression.
The world of Luxury is being challenged by a new set of ideals and behaviours as Millennials become increasingly powerful consumers. So what are the new Rules of Luxury that brands need to be aware of, and how are they adapting?
We frequently go over the expression “Street style” these days. It turned out to be very famous in the beyond a couple of years, however, how are treats truly mean and when did it turn into a thing? Suburbanization, mass promoting, the diversifying of eatery and corporate stores, the spread of TV, and also, web-based media, may have expanded the allure of “elective” ways of life for people looking for “credibility.”
This, in itself, is a presentation, as you can generally place on a little show that suits your disposition. Street style is an incredibly famous, second, propensity shaping element of the plan that is changed the way configuration is made and consumed.
Japanese road style was made by renowned expert Japanese originators. However, is driven by secondary school young ladies who have become incredibly persuasive in controlling the style. London is considered as perhaps the main Fashion capital. In any case, as opposed to Milan and Paris, London’s design is nearer to the feeling of sovereignty and custom and solid Street style culture.
For more queries visit our website www.fashionquirky.com
Social consumer view of luxury brands. Great read about a global study of the social consumer perspective of brands associated with Luxury. Find out how you can convert thousands of social conversations into powerful marketing that delivers brand growth.
How Digital is Transforming Luxury: The New Affluent ConsumersLuxe Digital
In Luxe Digital Issue One: Genesis, we compiled stories of origin and transition. A digital-first outlook on luxury marketing. Transforming luxury print magazines for digital. Taking back control of the customer acquisition in luxury hospitality. The emergence of new luxury hubs in China. The growing thirst for conscious consumption in beauty and fashion. Seeding thoughts on influencer marketing, wealth management and much more.
…And this is only the beginning! The beginning of an enriching and rewarding journey of digital innovation and empowerment.
A platform to inspire, empower and drive positive change, Luxe Digital is for the believers, game changers, leaders who dare and care to think innovatively. It is a distilled collection of fresh perspectives, reflective insights and thought-provoking digital explorations that have the power to shape the future of businesses.
A group presentation on Louis Vuitton. It is a case analysis given in the prescribed textbook by the university. We have brought the content up to date (2018) and tried to answer the questions related to the case. By reading this ppt, if you can get a general idea about their business model and their standings among competitor. Please let us know in case of any differences in your opinions or praise us for the good work if you liked it.
Take a look at our latest thinking on traditional luxury and experiences along with some thought-provoking examples on what luxury means to people in other parts of the world. To subscribe to this magazine for free follow this link: https://www.elluminateme.com/magazine/
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
In the Adani-Hindenburg case, what is SEBI investigating.pptxAdani case
Adani SEBI investigation revealed that the latter had sought information from five foreign jurisdictions concerning the holdings of the firm’s foreign portfolio investors (FPIs) in relation to the alleged violations of the MPS Regulations. Nevertheless, the economic interest of the twelve FPIs based in tax haven jurisdictions still needs to be determined. The Adani Group firms classed these FPIs as public shareholders. According to Hindenburg, FPIs were used to get around regulatory standards.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
5. Luxury lifestyle
Business beyond buzzwords
As a term and a concept, “luxury” is reasonably well defined. But “lifestyle”? Speak
ing to luxury luminaries at the annual “Business of Luxury Summit” hosted by the
Financial Times recently in Marrakech, Francois-Henri Pinault of PPR raised the ques
tion whether the concept of lifestyle adds value to the business of luxury or whether it
takes something away. In our work with luxury brands all over the world, we observe
that it has the power to do both. First of all, lifestyle does not rhyme with each and
every luxury brand’s identity. But even when it does, lifestyle remains a double-edged
sword. Venturing into lifestyle can be a blessing if you take it slow, but can turn into a
curse if you rush it. This is why we propose to think of the approximation of luxury and
lifestyle as an evolutionary process rather than a revolutionary event. Lifestyle, after
all, is about enriching consumers’ lives in a credible way. But building credibility takes
time, and even those who have it find that it is more easily lost than won. In this paper,
we will examine how luxury players can gauge the lifestyle potential of their brands and
how they can reap the benefits of lifestyle without diluting their heritage along the way.
The Moroccan mirage
To a fortunate few, Marrakech is the epitome of luxurious lifestyle. The sights, the
sounds, and the scents of the city add up to a sense of splendor that pervades all
aspects of life: stunning architecture, delicious food, beautiful fabrics, and priceless
artifacts leave visitors feeling they have stepped into a living fairy tale, from rosy dawns
to silky nights. Drawn by its mystery, creative types from all walks of life have made
their way to Marrakech, among them fashion notables like Yves Saint Laurent in the
1960s and, more recently, Jean-Paul Gaultier, seeking out the souks, the mosques,
and the medina in their quest for inspiration. Spreading the style of this mirage of a city
all over the world, they have played their part in creating the legend that is Marrakech.
Who wouldn’t want to hold on to a trace of this place, to keep and cherish when the
visit is just a distant memory? Those who try will find that even a place as steeped in
tradition and rich in authenticity as Marrakech can sometimes be just a mirage. To
the traveler’s passing glance, a scenic side street off the souk may appear to be ring
ing with the sounds of traditional craftsmen hard at work, creating the sculptures,
scrimshaws, and jewelry they are offering for sale. But what if the traveler were to take
a closer look and find that the supposed craftsmen were not, in fact, working on any
thing at all? What if they were simply making noise to attract the tourists? What if the
clanging of hammers, screeching of grindstones, and rattle of chisels were nothing
but the fabricated soundtrack of the souk, while the merchandise was being delivered
straight to the stalls in shrink-wrapped sheen, made by low-waged workers in factories
out of town – or even overseas? The mirage would vanish right before the traveler’s
eyes, reduced to the nothingness of a merchant’s make-believe.
At McKinsey, we are convinced that real luxury lifestyle must be rooted in authenticity.
If they stray too far from their roots, luxury brands will be reduced to little more than
faded labels. Luxury lifestyle holds the promise of new growth, but those aspiring to
create and sustain it are walking a fine line between credible storytelling and commer
cial deception. There may be many luxury lifestyle brands, each of them with its par
ticular heritage and identity, but in our experience, there is really only one way to gain
traction in this sandy soil: stay true to your roots, step carefully, and keep it real. But we
are jumping from illusion to conclusion – let’s get back to business.
5
6. 6
More than just the product
Half a century ago, Coco Chanel confessed to her very own creed of luxurious life
style: “Fashion is not something that exists in dresses only. Fashion is in the sky, in the
street. Fashion has to do with ideas, with the way we live.” Luxury brands have been
talking about lifestyle ever since, sometimes in terms of exploration and adventure,
at other times in terms of glamour and celebrity. This goes to show that lifestyle has
been a trending topic for many years. If we go by references in print media, we find
that the conjunction of luxury and lifestyle is more popular than ever, with 11 percent
year-on-year growth over the course of the last decade, compared to just 3 percent
for luxury in and by itself (Exhibit 1). Obviously, the media are hungry for something
more. But what is it, exactly, that they are talking about? Jonathan Openshaw, writing
for Monocle magazine, said: “Luxury and lifestyle are both incredibly slippery terms,
overused to the point that they mean something to everyone, and one thing to no one.”
The press increasingly perceives “lifestyle” as an element in luxury
Index of number of articles, 2000 = 100
400
Luxury mentioned
with “lifestyle”
300
200
Luxury mentioned
alone
100
0
2000 01
02
03
04
05
06
07
08
09
10 2011
Exhibit 1
We have searched extensively for a common denominator, but what we found was
that there is, indeed, no single definition of “lifestyle” – nor is there a shared concept of
“lifestyle in luxury.” Rather, the term triggers a diverse array of connotations. Prompted
for their definition of lifestyle, participants of the Financial Times “Business of Luxury
Summit” whom we interviewed before the event most often quoted a “way of living,” a
set of “attitudes and values,” or specific “consumption habits.” In publications, we came
across a wealth of keywords ranging from “mythology” to “personification” and from
“sensory appeal” to “symbolic value.” Consumer responses in interviews conducted
in London, Paris, Milan, and Munich were no less manifold, often reverting to specific
products and brands, but also to experience and emotion:
7. Luxury lifestyle
Business beyond buzzwords
“Luxury lifestyle means living in the finest manner. Staying at nice hotels.”
“Luxury lifestyle means being able to make your life pleasant.”
“Luxury lifestyle is a way of being, of dressing, of behaving.”
“It’s just brand names. That’s all.”
“It’s marketing.”
To balance media buzz and consumer perception with frontline experience, we also
interviewed senior executives from 20 luxury goods companies, including fashion
houses such as Roberto Cavalli, makers of fine leather goods such as Hermès, and
jewelers such as Harry Winston. Although they were far from agreeing on a single
definition of luxury lifestyle, a staggering 70 percent said they regarded their brands as
luxury lifestyle brands. Recognizing the evasive nature of the subject, a senior executive
at one of the world’s most traditional and most renowned fashion houses gave the topic
an almost philosophical spin: “Lifestyle is the result of what we do, not the purpose.”
Lifestyle provides growth opportunities beyond the core
Lifestyle holds profound and promising growth opportunities for luxury brands. In
our investigation of luxury lifestyle, we identified two dimensions in which brands can
leverage lifestyle to pursue such opportunities: touch points and categories (Exhibit 2).
We use the touch points axis (A) to capture the degree to which a brand leverages life
style in the content, channels, and formats it employs to make contact with consum
ers: from messages conveyed in TV commercials to materials used at the point of sale,
and from Web site features to experiential offerings in stores or at events. In contrast,
we use the category axis (B) to plot the range of products, services, or types of experi
ence a brand offers beyond its original core. These two axes define what we call the
luxury lifestyle playing field.
Brands that attain low lifestyle scores on axis (A) focus their visual communication
on the product. Their print advertisements, for example, usually include no elements
other than the original product and a model, if that. These brands also tend to limit
their marketing mix to traditional vehicles such as classical advertising and flagship
stores, while rarely using interactive digital communication or social media platforms.
At the other end of axis (A), we find brands that communicate lifestyle across multiple
touch points, often including not only lifestyle magazines and video content, but also
blogs, social media profiles, and interactive mobile apps. The imagery these brands
create to articulate the lifestyle they stand for extends well beyond the product and the
model. Their campaigns feature visuals of cityscapes, leisure activities, or other slices
of luxurious life in which the brand’s products may appear as precious props, but not
necessarily as the center of attention. Iconic images from the “Spirit of Travel” cam
paign, shot by Annie Leibovitz for Louis Vuitton, come to mind: Keith Richards loung
ing in his hotel room with a branded custom guitar case by his side, Mikhail Gorbachev
with his trusted monogram canvas travel bag riding in a taxi against the backdrop of
the Berlin Wall, or Zinedine Zidane engaged in a game of table soccer, with his Vuitton
trolley barely visible on the fringe of the frame.
7
8. 8
Luxury brands leverage “lifestyle” across touch points
and categories
Brands
which
leverage
“lifestyle”
across
multiple
touch points
A
B
y
into “lifest
ich extend
Brands wh experiences
nd
products a
le”
Exhibit 2
When it comes to category coverage – our axis (B) – most companies we looked at
have extended their business well beyond the original core. Taking brands with an
apparel heritage as an example, we found that more than three quarters of them offer
an assortment that spans at least four categories (Exhibit 3). However, only a few of
the more traditional, tailor-driven companies stick to a narrower product portfolio. In
contrast, some players, typically those that already feature rather broad assortments,
have transgressed the realm of products altogether by adding various types of experi
ence, such as hospitality, to their offering. Examples include Givenchy and Roberto
Cavalli. Although hotels and restaurants may only generate a fraction of an apparel
maker’s total revenue, these ventures often are key contributors to the brand’s identity.
Armani is among the most active players in this area, operating more than a dozen
cafés, two restaurants, and several hotels.
Climbing the lifestyle ladder
Of course, this matrix is only a snapshot. It depicts the luxury lifestyle playing field at a
given point in time. But how did luxury brands attain the positions they currently hold?
Is there only one way up the lifestyle ladder, straight from the bottom left to the upper
right, or are there different paths to the top? To answer these questions, we looked at
the trajectories of different brands, based chiefly on the sequence of their category
extension efforts. We found two distinct patterns:
9. Luxury lifestyle
Business beyond buzzwords
B
9
Extending into “lifestyle” products and experience
Brands with apparel core
EXAMPLES
Akris
2 categories
Carolina Herrera
KENZO
Experience
extension
Givenchy
Roberto Cavalli
3 categories
6% of brands
17%
4 categories
35%
5 categories
6 categories
28%
14%
Exhibit 3
ƒƒ Luxury brands with an apparel core are the most prolific lifestyle players and
leverage lifestyle comprehensively. Many of them moved into perfumes in the
1980s and 1990s, added jewelry, watches, and home products in the 2000s, and
entered the experience business within the last few years.
ƒƒ Luxury brands with a technical core, such as makers of jewelry or watches, tend
to be more limited in their extension. During a panel discussion at the Financial
Times “Business of Luxury Summit,” Frédéric de Narp, President and CEO of
Harry Winston, said: “There are soft luxury goods, which stand for fashion, and
hard luxury goods, which stand for timelessness. Timelessness and hard luxury
goods do not allow easily for lifestyle expansion, while fashion brands would
allow more easily for extension.” Some jewelry brands have, however, success
fully added perfume, cosmetics, and accessories over time.
Within these groups, different brands have taken different approaches (Exhibit 4). The
Carolina Herrera brand, for example, has successfully established itself as a lifestyle
player, but deliberately restricts touch point and category coverage to those areas
closest to its core – evening wear and festive, yet timeless elegance. A more flam
boyant brand such as Roberto Cavalli, however, stages its lifestyle of sensuality and
glamour at many touch points and even carries it over into service categories, such
as Cavalli Club and Caffè Giacosa. Carolyn Risoli, representing Marc Jacobs, told us:
“Some brands’ DNA translates better to certain lifestyle categories than others.”
In keeping with these observations, the risk that luxury brands most fear, accord
ing to our survey, is brand dilution. While about half of the respondents see lifestyle
as an opportunity to enter new categories or expand their customer base, 61 per
cent say they are afraid that their attempts to leverage lifestyle might damage their
brands. “Those who are not credible will fail, as consumers will recognize it,” a senior
executive said in one of our interviews. The good news is we believe there is a way
10. 10
to hedge the risks of brand dilution and consumer confusion. In our experience, the
sequence of actions makes all the difference:
ƒƒ Step 1 is to fortify the brand’s core and exploit its full potential. Moving into unre
lated product categories too early creates unnecessary complexity and may even
damage the brand – without adding substantial revenue, let alone profit.
ƒƒ Step 2 is to explore the brand’s lifestyle more actively in communication across
touch points and start adding adjacent product categories. Most players will want
to avoid service and experience at this stage, lest they overstretch their credibility.
ƒƒ Step 3 is to create a seamless world that both embodies and strengthens the
brand’s identity in a specific lifestyle, ultimately offering the widest conceivable
spectrum of products and experiential propositions.
While each of these steps can work as a stand-alone strategy, those who aspire to
capture the full potential of lifestyle for their brands will choose to climb them one after
another, like the rungs of a ladder. As Marc Puig, CEO and owner of Carolina Herrera,
explained to us: “Each brand needs to focus on core topics, and do these right, ather
r
than branching out too quickly. We want to grasp our full potential before oving into
m
new areas.”
Several luxury brands already leverage “lifestyle” across touch points
and categories
erto
Rob alli
Cav
Brands which
leverage “lifestyle”
across multiple
touch points
A
High
na
Caroli ra
Herre
Medium
Low
Core only
ucts
Other prod
ucts
Other prod nces
and experie
Brands which extend into “lifestyle”
products and experiences
B
Exhibit 4
11. Luxury lifestyle
Business beyond buzzwords
Case example: Michael Kors
Naturally, the path to lifestyle leverage is sometimes a little less straightforward
than a consultant’s framework might suggest. In actuality, finding and activat
ing the type of lifestyle that fits both a brand and its audience often takes some
testing and learning. Take the case of Michael Kors, an apparel brand that first
started selling its resort collection in 1981 through wholesale. In the 1990s, the
brand expanded into other categories by way of licensing arrangements. Like
many of its peers, the company learned a painful lesson about the dangers of
sharing control. In 1993, the company filed for bankruptcy under chapter 11 and
focused on its core business over the next few years.
A decade later, investors injected fresh money. Founder Michael Kors conclud
ed his tenure as creative director at Céline and promptly appeared as a judge
on “Project Runway,” boosting the popularity of his own brand considerably.
Subsequently, the company used not only above-the-line communication as
a way of connecting with consumers, but branded retail and the full potential
of the Internet as well – from owned properties, such as www.destinationkors.
com, to earned media such as Facebook. In parallel, the brand expanded its
category overage step by step, entering accessories, fragrances, shoes, bags,
c
jewelry, home products, watches, and, most recently, cosmetics.
Today, Michael Kors maintains a broad retail network comprising more than
300 stores in 85 countries, an online shop, and an active presence on social
platforms. Its cross-channel communication plays strongly on lifestyle, as
exemplified by the 2012 spring/summer “Afriluxe” campaign. Shot by Peruvian
superstar photo rapher Mario Testino, it features animal prints and safari-style
g
satchel bags, set against the backdrop of South Africa’s Lebombo Lodge.
Speaking to ournalists at last year’s New York Fashion Week, Michael Kors
j
himself made the lifestyle connection explicit: “If you’ve never been to Africa,
here’s your chance to do so in a garment.”
11
12. 12
Key success factors: Consistency and authenticity
The matrix and the ladder have helped us map the options available to luxury players
venturing into lifestyle. But once a brand has chosen its target position and charted its
course, who is to know how to succeed? We turned to those who, by way of their pur
chase decisions, have the power to make or break a luxury brand’s fortune: consum
ers. We asked consumers what they expected from a luxury lifestyle brand:
“It needs to be exquisite, not for everyone.”
“It sets you apart from the rest.”
“Authenticity and know-how. And, maybe, skilled craftsmanship.”
“A certain quality of design, an originality. Something different.”
“Well, I expect that they develop and keep my life interesting.”
Of course these responses are far from homogeneous, but there is something these –
and other – statements have in common: a clear and present longing for uniqueness
and distinctiveness. Consumers turn to luxury lifestyle brands for something special
and authentic that will enrich their lives. This expectation mirrors what we heard from
industry experts in more than 30 interviews, differentiated by the two axes of the
matrix as introduced above:
A
Leverage your unique lifestyle consistently across consumer touch points:
Leveraging “lifestyle” across multiple touch points
ƒƒ ind or rediscover the brand’s unique and defendable lifestyle.
F
ƒƒ ring it to life for consumers at all relevant touch points.
B
Embedded “lifestyle” Brand
ƒƒ ommunicate consistently to create one“Lifestyle”consumers. Examples
C
face to score
1
Louis Vuitton
2
S
tay true to your roots when moving into adjacent lifestyle categories:
Extending into “lifestyle” products and experience
3
Hermès
ƒƒ tick to the brand’s distinct design language across all categories.
S
4
ƒƒ xtend only into categories with a DNA that fits the brand’s DNA.Cavalli
E
Roberto
Brandsƒƒ urture new categories, especially if they differ from the brand’s core.
with apparel core
5
N
B
6
7
of infusing luxury with lifestyle is tremendous, but every luxury brand
Carolina Herrera
needs to find itsAkris way and pace. Just like traditional craftsmanship, lifestyle lever
own 8
2 categories
6% of brands
9
age requires patience and care. And just like luxurious products, luxury lifestyle
10
brands become more valuable over time if you take good care of them.
EXAMPLES
The upside
Carolina Herrera
11
3 categories
17%
12
13
KENZO
4 categories
35%
14
Focus on product
Experience
extension
15
Givenchy
Roberto Cavalli
5 categories
6 categories
28%
14%
13. Luxury lifestyle
Business beyond buzzwords
Beyond the horizon
Is climbing the ladder really the only way – rung by rung, touch point by touch point,
category by category? Some of the most successful luxury brands have been around
for so long that they may have a natural tendency to play it safe – and with good rea
son. Many of those that have tried to go all the way in a heartbeat have failed, gambling
away more in brand equity than they would ever be able to recapture in additional rev
enue. We believe that the ladder is, indeed, the development paradigm for established
brands. However, we also believe that totally new luxury lifestyles can be created
almost from scratch. Think about the Silicon Valley dotcom billionaire, the Bollywood
star, the post-Soviet oligarch, the liberal freedom fighter, the digital cosmopolitan, the
Chinese traditionalist – the list goes on.
Figments of a marketer’s imagination? Not necessarily. Consider the case of Shang
Xia, the brand Hermès launched two years ago with Chinese designer Jiang Qiong Er,
who aspires to recreate the authentic value of Chinese tradition and Chinese culture.
The brand is on a mission to project a modern lifestyle founded on Chinese design tra
ditions. In a public statement, Hermès chief executive Patrick Thomas raised the bar
all the way to the top: “The idea is to bring the Hermès philosophy to China, to create
a Chinese Hermès.” Even today, the Shang Xia assortment is quite broad, comprising
apparel, furniture, home accessories, and jewelry.
Or look at She Ji Sorgere, launched in March 2012 during the Beijing Fashion Week as
a luxury fashion label for men, with all its clothes designed and made in Italy. This new
brand is targeting sophisticated and wealthy Chinese consumers looking for a depar
ture from what Western luxury brands offer. It appeals to the “origin of civilization,” and
it aspires to become the local destination brand for China’s emerging elite. The first
store is in the making, scheduled to open later this year.
Or cast an eye on Kolkata, the Bengali capital, with its unique blend of Indian
patriotism and avant-garde style. Thanks to the rise of fashion designers such as
Sabyasachi Mukherjee and Anamika Khanna, Kolkata has reclaimed and fortified
its colonial reputation of updating traditional styles with a modern twist. Already,
the new Bengali sense of style has caught the attention of Bollywood. Mukherjee
has worked on some of India’s biggest blockbusters. And trend-setting superstar Sonam Kapoor usually wears Anamika Khanna’s designs head to toe.
The jury is still out on whether these brands will eventually leave the confines of their
home markets and establish themselves as global luxury lifestyle players. At this point,
there is really no telling where the vagaries of lifestyle will take the business of luxury in
the coming years. In all probability, ever more new lifestyles will arise and some of the
old ones will fade away. But as long as luxury brands, old and new, steer clear of the
hot air that so easily gives rise to a mirage, they will create lasting value for both con
sumers and companies. And if they stay true to the spirit of their elders, they may just
find themselves making more than merely money. As Christian Dior once said: “My
dream is to make women not only more beautiful, but also more happy.”
13