Marketing luxury brands is a skill. A combination of making a customer feel special and inviting them into a story.
Luxury isn’t just about the purchase, it’s the whole experience and that’s why it’s so difficult to get right.
This article will look at how luxury brands are getting the right mix, why it’s working and what you can learn from each of them.
A lot of luxury brands are embracing the metaverse. Some say it’s a fad but there are real signs that it’s not going anywhere. Analysts at Morgan Stanley predict the market for virtual luxury goods could be as large as $50 billion by 2030.
Gucci, Tommy Hilfiger, Burberry, Balenciaga and Dolce & Gabbana have already staked their claim in the metaverse and this will only encourage more brands to jump on this trend.
It’s a hot topic and everyone is keen to get a slice of the action. With NFT sales totaling around $25 billion in 2021, Milan-based luxury fashion house Dolce & Gabbana set a record by selling a nine-piece NFT collection at $5.7 million.
Another trend for big luxury brands is embracing the gaming arena. With so many eyeballs and money being made with gamers, Balenciaga paired up with Fortnite after the success of 12 million Fortnite gamers watched Travis Scott in concert live within the game. Luxury brands are having to get creative with ways they can get in front of new captive audiences.
ikon has worked with some of the biggest names in luxury. From Cartier to Porsche, we have even designed for the Queen at a festival for all the Royal Warrant Holders - Bentley, Hunter. The list goes on.
Whatever marketing decision is made. You can be sure it all stems from a solid brand strategy.
If you are early in your journey and you have been established for years or you are start up with funding, we help create a strategy and identity to help differentiate you in the market.
We have also worked with renowned, global luxury brands on campaign and creative work.
Regardless. If we can't help, we most certainly know others in luxury that will.