WHO CAN AFFORD TO IGNORE 500. MIO IMPRESSIONS A MONTH?
HOW LUXURY BRANDS REJUVENATE
Not all too long ago, luxury marketeers focused on elevating their brands to remain exclusive. Social media was an enemy and I recall some "luxury experts" recommending NOT to engage in a direct consumer communication. Those times are gone. Exclusiveness or even arrogance and not charismatic. You need to be relevant, meaningful. Brands like Gucci and LV reach out and connect with the next generation, keeping the brand young & fresh. Decades ago, rapper musicians seized luxury brands and featured them in their videos, stamping an edgy image on polished brands. Today it has become a strategy - to raise interest & curiosity of millenials. Interesting that even big fashion labels are open to collaborate and cross-brand - something that other industries fail to do. They either acquire a brand or pursue mono-branding and rarely partner at eye level. Imagine the impact if IBM would partner with AI-start-ups, big pharma players with smaller biotechs or giant automotive groups with smaller mobility-service providers. The paradigm is still darwinistic. Good for those who plan to exit by acquisition. But the future will belong to companies and leaders that believe in eco-systems.