In today’s world, as societies, cultures, and industries are going through a rapid transformation process, the luxury sector that takes this wind behind is in a different kind of transformation.
The rules are being redefined. It is also noteworthy that the traditional players of this sector have not yet adapted to this rapid transformation. Long-established brands, who want to maintain their past permanence and to have a competitive and profitable stance, have to adapt the so-called ‘new normal’ dimension of luxury to all business processes without delay.
The one to influence the young generation will win
The Swiss watch and jewelry brand Piaget, which aims to appeal to Generation Y, focused on improving its image in this direction. The brand combines the rich history of the past 140 years and important milestones in this process with its deep technical knowledge and craftsmanship in both watch and jewelry making. The target audience of the Piaget brand meets on an important common denominator: they love beauties and values that can be lived through different generations. Even though historical collections still form the essence of the brand, today’s world is looking for ways to address the young and new generation that shapes the luxury market. That’s why Piaget chose the model, creative director, philanthropist, and entrepreneur Olivia Palermo for the new campaign. Possession collection, the design process of which is prepared by Palermo during the Piaget shoots, is progressing by investing in the philosophy that it is the most important part of stylish women’s wardrobes. Generation Y is focused on Gucci today and their bold, sleek designs with bright colors, full of logo patterns. The brand is eating the fruit of the revived 90s fashion just at the time when Generation Z reached adulthood. Gucci succeeded with the creative direction of Alessandro Michele, who has managed the brand since 2015 and has preferred interesting, eye-catching and eclectic patterns that look good on Instagram.
From personal luxury experience to custom luxury experience
Selfridges Fragrance Lab follows a strategy that tries to reach its customers by reflecting its brand identity and that it does not lean on its legacy while giving the main message ‘a shopping experience that will surprise, amaze and entertain them by offering extraordinary customer experiences’. Created in collaboration with The Future Lab and Design Studio, Fragrance Lab enabled customers to engage with the brand and experience the process of creating a custom product. The temporary booth in the concept store at Selfridges took customers on a journey that appealed to their senses. They were asked questions to determine their tastes and habits and were presented with special scents prepared in their own choices in 50 ml bottles. This booth remains a good indication of how a strong brand identity creates its own legend while remaining true to the original idea. Pradasphere’s private display area, which began in Harrods in the summer of 2014, is an impressive example of a personalized retail approach.The goal here is not to sell products, but to share sources of fashion, art, film and cultural inspiration. The only elements in the show were the ones that led Miuccia Prada to design the pieces that Prada created on the roof of her own luxurious empire.
For years, Chanel has been examining the criteria of ordinary and extraordinary, luxury and usage value and pushing the limits in this field. During the Autumn/Winter 2014 Paris Fashion Week, Chanel established a Chanel Shopping Mall. From this state of affairs, expressed in a playful way against the irony of consumerism and desire, a joke has blurred the lines between luxury and the mass market. Chanel’s packaging was designed with discarded products, thus enabling its customers to laugh at the remarkable consumption irony. A good example of a new and unexpected adoption of a deep-rooted past is an example of a Chanel book set published by Assouline, the publisher of luxury books. In this book project, an original Chanel quilted leather envelope with a metal trademark monogram was prepared. Thus, an ordinary product was transformed into a desired new collection object. Burberry’s ‘Art of the Trench’ campaign is a successful mix of specially selected content created by the community. The campaign, launched by blogger Scott Schuman from The Sartorialist, first featured people wearing Burberry trench coats, and then other photographers and trench coat users shared photos from around the world to create an authentic global campaign that enabled Burberry to create a cultural impetus.