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Luxury Brand Development, Management, and Internationalisation

Luxury Brand Development, Management, and Internationalisation. by Dr. Satyendra Singh Professor, Marketing and International Business University of Winnipeg Canada s.singh@uwinnipeg.ca https://abem.uwinnipeg.ca https://www.abem.ca/conference. The Concept of Brand Development: Add value first.

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Luxury Brand Development, Management, and Internationalisation

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  1. Luxury Brand Development, Management, and Internationalisation byDr. Satyendra SinghProfessor, Marketing and International BusinessUniversity of WinnipegCanadas.singh@uwinnipeg.cahttps://abem.uwinnipeg.cahttps://www.abem.ca/conference

  2. The Concept of Brand Development:Add value first Commodity Goods Service Experience 1₡-2₡ 5₡-25₡ 75₡-$1.5 $2-$2.50 Then, we’ll do positioning, pricing, branding and communication around the value proposition.

  3. Saussure (1983)

  4. Signs, interpretations and Logos

  5. Sources (messages) of value to the brands • Mercedes  Engineering, sophistication and safety • MBW  engineering and driving • Nike  Performance • Starbuck  Best coffee experience • FedEx  Overnight • Harvard  Leadership skills • MIT  engineering and management • 3M  Innovation • Luxury Dream!! Which dream? • You can brand anything  e.g. water, yourself…

  6. Lamborghini bicycle:$25,000 -- Lightest

  7. Franck Muller:Master of Complications

  8. 24 Complications

  9. Celestial map, do we need it?

  10. 900 parts in luxury versus 90 in ordinary, or 0 in electronic watch

  11. Omega co-axial escapement watches

  12. Brand Identity (Only 3 made)

  13. Black Credit Card

  14. The Luxury: The Dream Club

  15. The Luxury: The Desire You pay $5000 Limousine ride, hovering photographers red carpet, 4 hysterical fans… Can you imagine?

  16. Characteristics of Luxury Brand Dream a dream with value Create exclusive club Functional  Given Exchange  Last long, can outlive you Emotional  You adore it, source of joy Mythical  There is something about it Ethical  Links to social responsibility Identity  Convey something about you

  17. Brand Content To sustain brand image To be the leader, set trends ↑functional and emotional value How do we do it Educate customers  History and heritage Interviews, fashion shows, manufacturing process Link brand to community Show social responsibility Gucci (mrf process), Chloé (fashion show)  www

  18. Brand Identity… Levis  Jeans with distinctive labels Missoni Knitted fabric in a special way Toblerone Chocolate, red/yellow packaging Tod’s Moccasins (shoes made from deerskin very soft, single piece of leather Ferrari  Red automobile LOGOS play important role in forming brand identity

  19. Brand Identity… Ostrich Crocodile

  20. Brand Identity (Ethiopian Yarn)

  21. Luxury Brands and Social Responsibility Louis Vuitton Contemporary art education MontblancUNICEF $10,000 for a dinner ticket To help children Rich people compete to donate! Singer Bono’s brand in Africa Employment

  22. Louis Vuitton Foundation: Contemporary art museum

  23. Montblanc and UNICEF

  24. Employment generation

  25. Employment generation

  26. Employment generation

  27. Luxury Customization – Rich people like it Product LV: Choose color and material Point of delivery Bring receipt to customer, engrave their name Shopping experience Assistance to old people, special invitation, discount Customization online Online interaction Shop with a friend  live video chat assistance Sales $20m  $60m

  28. Online Product Display 50% of luxury brands are online now Virtual mannequins 360 degree pictures iSmell software You can smell the product on your computer!

  29. 10Cs of Luxury Fashion Online Marketing Customer value Satisfaction Convenience Cost CommunicationsFaster and targeted Computing Able to track online Customer franchise Trust, live assistance Customer care CommunitySocial network Content Customization

  30. Luxury Logos  Simple Japanese like logos more space for logos Europeans do not like logos on tie; US ok Icon apple Indicesrelationship (smoke means fire) Symbols Ambiguous (Lion on Venice flag) Numbers, animals, initials, monograms,…

  31. Luxury Brand Hinge North European Classical type Clear lines, contours, saturated colours, closed… shape, entirely visible Jil Sander, Ikea, Helmut Lang, BMW USA  Calvin Klein, Donna Karan Mediterranean Brands Baroque type Criss-cross, open, exaggeration, line shadows… Loewe, Ferragamo, Dolce and Gabbana, Majorica, Lamborghini, Versace, RonertoCavelli

  32. Internationalisation: Luxury Brand ①Create brands visibility awareness, Expand product line, menwomen ②License abroad 1stperfume then fashion ↑advt for perfume ↑brand awareness ③Open flagship stores in big cities abroad. Balance Merchandise bw COS & franchisee ④Buy back franchisee. Get new balance.

  33. Internationalisation by Brands LVUSA, Germany, Italy, Spain Burberry, Prada China AudiChina: Chinese officials, made-in-China Hermés Shang Xia …

  34. International Luxury Brand Management Brand development Initially one product line extensive variety and colour Brand registration (5-7 years validity) Register brand in few countries first $2,000 - $3,000 per brand (lawyer fee, tax…) If target 100 countries  $200,000 - $300,000) Registration renewal Show proof of usages, or counterfeit operator Usually 20%-30% brands need renewals

  35. Luxury Brands Become International When $50m sales are reached 50% of public knows the logo Brand outlives investor eg, 3rd generation Brand is present in USA, Europe and Asia New category is developed successfully No longer advertisement is needed to sell

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