Brands are like living beings. They need care and attention but also clear rules and limits. Only in this way they can develop and flourish splendidly.
Brands create identity, give support and trust. Brands create images in the minds and emotions in the hearts. This all is more true for luxury brands. In addition to a clear brand management, luxury brands still differ in many other aspects from “mass market brands”.
Luxury brands are factually and emotionally superior. They are always looking for the best. Like as at a world championship, luxury brands are fighting for victory. They do not go for the second place. They try to do everything to reach the top. This applies not only to the large and fully respected brands. It is about peak performance also in individual segments or niches. Do you know Transrotor, for example? The small German brand, with its analog turntables, that climbed to top. With their factual superiority, luxury brands create an emotional connection at the same time. They make pride and promote the prestige of their owners. However, in most cases, this bond assumes a rationally comprehensible peak performance. If it is not just consumption out of envy.
Luxury brands are rare and scarce. Luxury brands are defined by their exclusivity. Small production quantities, limited editions, selective distribution and exquisite materials make their products accessible to only a few people. Not seldom, interested customers must apply for a purchase. This applies in particular to products which are produced only in very small quantities. This scarcity promotes the desire and contributes sustainably to the increase of the brand value.
Luxury brands are uncompromising. The second best solution is not good enough. The best possible solution must be found. However, to resist the pressure of a rapid market launch is indispensable. This is not always possible. Often only half-finished novelties are presented by the top luxury brands. Especially at the World’s leading jewelry and watches shows SIHH and BaselWorld. All in the hope to prove their actual superiority to the competition. Stupid only if the technical finalization then needs years. Fakes are taboo. The Aston Martin factory in Gaydon / GB demonstrates this very vividly. Even non-visible leather linings are made from the same noble natural material as the visible parts. And what seems genuine also must be genuine. The customer expects the optimum.
Luxury brands are personal and individual. Customer approach, support and care are of a very personal nature. Luxury brands include their buyers and let them be part. They provide insights that are only available to interested individuals. The impersonal mass appeal is disdained. The customer would like to be flattered and treated individually.
Luxury brands are authentic. Honesty is the top priority. What is promised is what can be held and communicated is only what also corresponds to the facts. These are luxury brand providers guilty of their consumers. Once trust is lost it is hardly to repair. Openness helps in the verifiability of information. More and more companies present themselves and their work in so-called “glass manufactories”. This creates trust and promotes the bond to a brand.
Luxury brands are valuable, coveted and exclude. The development of a new mechanical watch movement with many complications takes often a few years. Several watchmakers and engineers work parallel. The individual components are manufactured by hand in smallest quantities. This effort, the low number of pieces and the uniqueness of the products make luxury brands valuable and coveted. Thus, they reach only a few and deliberately exclude.
Small and medium-sized luxury goods companies often reach their limits when implementing these factors. Strategies must be developed, internal and external partners should be drawn in and the financial framework needs to be defined. We would be glad to support you in your efforts.
Copyrights: Text & Photo Wolfgang Stelling