Philip Stein is breaking its fall/winter collection this year around the technology embedded in each of its pieces that the watchmaker says improves the well-being and energy of its wearers.
The aspirational/symbolic buyers that most luxury marketers are chasing have all but disappeared in this economy, according to one of the leading luminaries in the luxury marketing world.
While Rolls-Royce will continue to hold the hands of its loyal, ultra-affluent customer base, the British automaker has set its sights on women buyers and a younger demographic as markets with great potential for owning an automobile attached to the Spirit of Ecstasy.
In an attempt to broaden its customer reach, affordable luxury handbag designer Botkier will be launching an ultra-luxe capsule collection that will market primarily through its hefty social media following.
Luxury watch and jewelry brands typically opt for third-party retailers, but many are opening their own monobrand boutiques. The problem lies in whether or not brands can forge relationships with their retail partners while still creating a brand culture for customers.
Just when many luxury brands are starting to tap into Brazil, Russia, India and China, Jaeger-LeCoultre’s CEO believes that it is time to push electronically into other other emerging markets, since digital is the easiest way to mold a strategy to a local culture.
Mobile video is becoming one of the most popular mediums in which to display fashion products and is rapidly changing the face of the industry in terms of how consumers are accessing products and interacting with brands.
SMS messaging offers a way for luxury marketers to directly reach consumers and contact them immediately with unique and tailored messages that stand out in today’s over-branded society.
Despite changes in technology, consumer habits and marketing, customer service still remains the consistent business driver in the luxury industry, according to Ira Neimark, former CEO of New York-based department store Bergdorf Goodman.
Once the client services manager at advertising agency iProspect, Andrea Wilson recently turned her full attention to luxury brand marketing and was given the new title of director of digital retail strategy and luxury practice lead at the company.