Luxury branding

What are the 3 types of luxury?

• the old elite luxury: Rooted in tradition, legacy, and craftsmanship. Emphasizes discretion, savoir-faire, and pedigree. Understated symbols

  → Ex: hermes

• the new rich luxury: Luxury as status signaling and self-affirmation.Focus on logos, visibility, limited editions. Hyper-consumption, often fueled by social media & celebrity culture. Display of success, especially in emerging markets or among young affluent consumers.

  → Ex: LV

• the Silicon Valley luxury: Focus on functionality, innovation, and ethics. Luxury as well-being, sustainability, and personalization.

  → Ex: apple, Tesla

What are the 7 factors of luxury?

• elitism

• creativity

• uniqueness

• distinction

• refinement

• quality

• power

What are the key characteristics of luxury? (6)

• high-price

• rarity

• extraordinariness

• aesthetics

• symbolism

What luxury is not?

In the strictest sense of the term, a luxury strategy should no be confused with masstige (seems luxurious but accessible for many people) strategy, fashion strategy or premium strategy

How to develop a new luxury offering in a saturated market? (segmentatopn)

• luxury as personal expression

• luxury as art of living

• luxury as affirmation of power

• luxury as membership

How integrate sustainability in luxury?

→ Second hand (vestiaire collectif)

→ using digital

What about the digitalization? (AI, chatbot)

→ millenium requires digital

→ support social interaction

→ can support co-creation

→ can enhance utilitarian and escapism

→ can be online or enhance in store xp, and support human interactions

Use of chatbot: answer people without intervention, using predefined scripts, that allows companies to automate tasks and improve real-time engagement

Use of model AI