Continued from Part 1
The number one most-desired brand in the world is Gucci, which also owns Yves Saint Laurent and Sergio Rossi. Michael Macko, the director of fashion at Saks Fifth Avenue, explained to Forbes why Gucci is so alluring. “Gucci manages to offer high fashion and very commercial items. That iconic red and green stripe is some of the most iconic luxury branding ever created, and people want a piece of it.”
When Gucci opened its new store in New York City, they planned their marketing carefully. First, a grand opening that was well-advertised; second, the launch of a “Gucci Loves New York” handbag collection; and third, all profits from the handbags went to a charitable cause, which was also well-advertised.
The second most desirable brand in the world is actually two brands, Chanel and Calvin Klein. The two brands tied. Chanel’s success is attributed to its relevance, according to Forbes. Which means constant refreshment of products in the area of styling. Chanel’s luxury products are timeless. Marketing of this ageless quality is accomplished by identifying the products with the most beautiful women in the world. Chanel’s current celebrity symbol is Keira Knightley. Her presence implies exclusive beauty.
Calvin Klein’s worldwide sales were $4.5 billion in 2006. The appeal of Calvin Klein’s luxury products is due to the company’s contemporary designs, which present an image of cool arrival. Calvin Klein’s marketing revolves around the deliberate presentation of this carefully fostered image of cool confidence, which speaks to the desires.
Louis Vuitton and Christian Dior hold down the final spots on the list of the world’s most desirable brands.
The marketing efforts of these highly desirable brands are interesting to examine. In each case, the marketing targets the emotions of potential affluent customers. This is accomplished by combining the customer’s desire for recognition with a recognizable symbol. More often than not, the symbol is a celebrity. Which sends a message of universal romantic appeal to the customer.
Using celebrities to market luxury goods and services is not new. The idea has been around for a long time. Lord Byron, who was arguably the first worldwide celebrity of modern times, may have been the first marketing celebrity. His publisher utilized Byron’s rock-star fame to sell books at a rate unheard of before that time.
Article comments
1 - Joanne Huspek
Interesting.
I don't think of $200K as being "wealthy." I don't even think of $150K as being wealthy either. To me, true wealthiness starts at around $500K.
For example, if I make close to your idea of wealth, I still would not be able to afford Gucci or any of the other luxe brands you have mentioned. That's because at $200K, you really only have half of that to play with, after taxes. And if you are like me with a mortgage, a business and a child in college, $100K doesn't last very long.
Believe me, it wouldn't matter how much disposable income I have. I would not shop at Gucci and I would still clip coupons and look at the clearance rack.