Lorre White, The Guru of Luxury

4 NEW LEICA LIMITED EDITIONS: LEICA M9-P “EDITION HERMÈS” / LEICA M9-P “EDITION HERMÈS - SÉRIE LIMITÉE JEAN-LOUIS DUMAS”

 

Leica Camera AG presents the Leica M9-P “Edition Hermès” and the Leica M9-P “Edition Hermès – Série Limitée Jean-Louis Dumas,” two new limited edition camera sets created in collaboration with the renowned Parisian house.

 

These exclusive offerings incorporate “Veau Swift” calfskin leather in “ocre,” supplied by Hermès for the leathering of the silver-chromed version of the Leica M9-P camera as well as the shoulder strap included in the set. The camera also sports a special design, created in collaboration with the automotive designer Walter de’Silva. In addition to a dedicated serial number, each camera also bears one of a series of consecutive limited-edition numbers.

 

The Leica M9-P “Edition Hermés”:

• Worldwide limited edition of 300
• Camera set includes a silver-anodized Leica Summilux-M 50 mm f/1.4 ASPH. lens

 

The Leica M9-P “Edition Hermès – Série Limitée Jean-Louis Dumas”:

• Worldwide limited edition of 100
• Created in celebration of the friendship and collaboration between Jean-Louis Dumas, the former president of Hermès, who passed away in May 2010, and Leica Camera
• Accompanied by an exclusive hand-finished Hermès camera bag, the first Leica camera bag ever to have been created by Hermès
• Includes an entertainingly diverse portfolio of 200 black-and-white images on 190 pages, all captured by Jean-Louis Dumas with his Leica M camera
• Camera set includes three lenses: a Leica Summicron-M 28 mm f/ 2 ASPH., a Leica Noctilux-M 50 mm f/0.95 ASPH. and a Leica APO-Summicron-M 90 mm f/ 2 ASPH., all featuring a silver-anodized finish

 

INTRODUCING THE LEICA M MONOCHROM

 

Leica Camera presents the world’s first digital camera designed exclusively for full-frame, 35mm black and white photography: the Leica M Monochrom. The latest addition to Leica’s flagship M-System, the Leica M Monochrom continues the successful story of the Leica rangefinder system, which has written numerous chapters in the history of innovative photography.

 

The Leica M Monochrom features:

• Special, newly-designed 18 million pixel CCD sensor that does not ‘see’ colors. As such, every pixel captures light in its purest form and the camera produces true black-and-white images that are significantly sharper than comparable images from cameras with a color sensor
• Classic, iconic Leica M-Series design with black chrome finish and leather carrying strap
• Compatible with almost all M-Lenses manufactured since 1954, offering focal lengths from 16 to 135mm
• Includes Nik Silver Efex Pro™ 2 and Adobe^® Photoshop^® Lightroom^®
• Exclusive access to the Leica Monochrom Print Service in cooperation with Whitewall
• Includes an original fiber baryte print of a Magnum photo from the Leica M Monochrom campaign by J. A. Sobol

 

INTRODUCING THE LEICA X2

 

Leica Camera AG presents the Leica X2, the latest addition to the X-line of compact digital cameras. The X2 features a new 16.5 megapixel CMOS sensor (effective 16.2), guaranteeing superb image quality. The Leica Elmarit 24mm f/2 ASPH. lens of the Leica X2 is a true classic and a favorite among photojournalists, having captured innumerable iconic images. Striking style is combined with this outstanding Leica lens to capture images of unmatched brilliance.

 

The Leica X2 features:

• CMOS image sensor that is unusually large for a camera in the compact segment
• High performance Leica Elmarit 24mm f/2.8 lens
• Enhanced autofocus system, allowing the X2 to adapt all photographic situations with enormous flexibility
• Simple operating concept with clearly laid-out functions and intuitive handling, assuring easy use for a wide variety of photographic skill levels
• Numerous automatic functions that make the X2 extremely fast and natural to use as well as manual control options that enable the photographer to maintain concentration on the creative aspects of the composition
• Generously sized high-contrast 2.7” monitor
• Straightforward design featuring a reduction to pure essentials and a compact, handy form
• Robust all-metal construction and premium, high grip leather
• Available in both black and silver finish

 

INTRODUCING THE LEICA V-LUX 40

 

Leica Camera announces a new digital compact camera, the Leica V-Lux 40. Equipped with a 15.3 MP sensor (14.1 effective), high performance Leica lens with extended 20x zoom range and built-in GPS capabilities, the V-Lux 40 guarantees superior image quality and incomparable ease-of-use.

A versatile camera for carefree photography, this latest addition to the Leica portfolio is the ideal companion for capturing lasting memories whether traveling the world or enjoying family time at home.

 

The Leica V-Lux 40 features:

• 15.3-megapixel (effective 14.1 MP) CMOS image sensor
• High performance Leica lens with a zoom range now extended to 20×
• Comprehensive range of camera functions ranging from a continuous shooting rate of ten frames per second at full resolution and 60 frames per second in high-speed mode to creative modes with effects like miniature, panorama and retro
• HD video recording with the entire 20× zoom range available during recording
• Integrated GPS module, allowing users to save the geographical coordinates and local time of every shot captured.* In addition, the camera can display the sightseeing highlights of the immediate neighborhood (1,000,000 so-called ‘points of interest’)
• 3” LCD touch screen, enabling camera features to be controlled by touching the screen with a fingertip. Images on the screen are displayed with outstanding brilliance with a display resolution of 460,000 pixel
• Classic styling dominated by black with chrome accents

What Luxury Brands Should Learn From Dolce & Gabbana’s Hong Kong PR Disaster

Around 1,000 Protest D&G After Photo Ban Jing Daily reports

Protesters crowd outside D&G's Tsim Sha Tsui flagship on January 8, 2012 (Image: Sina HK)

One of the biggest stories of this past weekend in Hong Kong was a massive, Facebook-organized protest of the Italian fashion house Dolce & Gabbana after a security guard prevented locals from taking photographs outside of its flagship in Tsim Sha Tsui last week. Checking into the story, a photographer from the Apple Daily reported on January 5 that he was told by a security guard that only mainland Chinese or foreign tourists were allowed to take photos outside the store, with another guard allegedly threatening to break his camera. Within hours, the story had set off a firestorm of criticism in the city, with angry Hong Kong locals taking to Facebook to speak out about what they saw as tantamount to discrimination, leaving hundreds of messages on Dolce & Gabbana’s wall demanding the brand apologize or pack up and leave Hong Kong altogether.

Over the weekend, more than Facebook users in Hong Kong joined together to organize a protest of Dolce & Gabbana’s Tsim Sha Tsui flagship, creating a “10,000 People Photograph D&G Event” (D&G門口萬人影相活動) page now “liked” by nearly 20,000 fans, with around 1,000 protestors actually taking to the streets yesterday. According to Hong Kong’s Standard, the protest turnout was so great that the store was forced to shut its doors before 3:00 PM as the crowds gathered, with other shops nearby closing early as well as crowds spilled over. Protesters carried cameras and snapped photographs of the store as others held placards denouncing the photo ban and demanding an apology. Despite the massive turnout, as of last night Dolce & Gabbana had only issued a terse, unsigned statement rather than an apology, reading, “We wish to underline that our company has not taken part in any action aiming at offending the Hong Kong public.”

This is unlikely to assuage the protesters’ anger in any way. As the Standard notes today, rumors have abounded for months that luxury brands like D&G have become so reliant on well-heeled mainland Chinese tourists that Hong Kong locals have essentially become “second-class shoppers”:

A well-known mainlander, possibly a government official, was reportedly shopping in the store last month when he noticed people outside taking photographs. A complaint was made to D&G because the customer feared netizens would link the shopping spree to corruption. Then D&G instigated the ban. D&G’s statement strongly denied making any racist or derogatory comments. “Controversial statements reported in the Hong Kong press have not been made by Dolce & Gabbana nor its staff.

“It is regrettable that Dolce & Gabbana has been brought into this matter.”

Harbour City [mall] apologized on its Facebook page on Friday. D&G’s store did not return calls yesterday and no one came forward to meet the protesters.

A security guard stops an Apple Daily photographer from taking pictures in Central

As more Hong Kong residents take to social media platforms like Facebook to create “boycott D&G” groups and flood the brand’s official page with furious comments, D&G will likely ultimately have no choice but to issue a formal apology, but its silence up to this point is only worsening the situation. Bad PR is actually building on bad PR, with one Hong Kong online forum sharing screenshots from the Facebook page of an alleged staff member at D&G’s Tsim Sha Tsui flagship, accusing protesters of having “mental problems” and following “herd mentality.” The issue is even being raised among Hong Kong government officials, with chief executive candidate Henry Tang Ying-yen saying D&G should consider locals taking photos outside its store as a compliment, adding, “People take photos because they like the products. The store should welcome this instead of turning people away.” Saying he plans to raise the issue in the Legislative Council, tourism official Paul Tse Wai-chun demanded that D&G apologize for “discriminating against locals.”

Though its only a matter of time before D&G presumably issues a blanket apology and looks to move on, the worm-like pace of its communications strategy (if it even has one in China) has clearly done a great deal of damage in Hong Kong. The brand’s overt focus on the mainland China market in recent months — it plans to open around 30 stores in the country within the next two to three years — and perceived kowtowing to wealthy mainland Chinese tourists at its Hong Kong locations has become a simmering issue in the former British colony, and this most recent incident has only made the situation worse.

So what can luxury brands learn from the (ongoing) D&G saga in Hong Kong? First off, despite the importance of Hong Kong as a key market to benefit from growing mainland Chinese tourism, being perceived as “playing favorites” to the detriment of locals should be avoided at all costs. Recent, racy photo-spreads (NSFW) in Beijing and rosy talk of their love for cities like Shanghai and Hangzhou by Domenico Dolce and Stefano Gabbana, and rumors in the Hong Kong press about mainland Chinese officials throwing their influence around at luxury boutiques only serves to stir the pot further.

Another important thing for brands to remember in Hong Kong is that the city’s more open press and Internet vis-a-vis the Mainland, and wide rate of English-language fluency, allows for PR issues to spread (arguably) more quickly and (certainly) more globally than they would in mainland China. The hundreds of angry comments now posted in English on Dolce & Gabbana’s Facebook wall from Hong Kong attest to this. In contrast, other recent China-related PR crises — such as complaints by former workers at Gucci China that the brand was operating essentially a sweatshop in southern China — remained largely localized and were less widely reported in the global English-language press.

Dolce & Gabbana, photographed in Beijing late last year (Image: Prestige HK)

Ignoring Hong Kong’s Internet-mobilized sense of solidarity against what many perceive as belittlement is the worst thing a luxury brand can do, and as such every brand operating in Hong Kong (or, really, anywhere) needs a defined and localized crisis management plan. Taking the high rate of penetration of global social media platforms like Facebook and Twitter in Hong Kong (and the city’s more open tabloid and online press) into consideration is key, as is the understanding of how locals are reacting to the influx of extremely wealthy mainland Chinese tourist-shoppers now populating shopping districts like Tsim Sha Tsui and Central.

Whether the allegations against D&G in Hong Kong are actually true or not has become a secondary issue. The brand’s failure to come out with at least an apology and a vow to investigate the claims within the first 24 hours of the initial article is now at the forefront. No matter how this issue ultimately plays out, it will likely serve as a valuable case study for other luxury brands operating in Hong Kong for years to come.

Category: Business & Finance / Culture / Fashion / Features / Luxury / Travel / Trending Topics

by Avery Booker

www.jingdaily.com

Chopard Grand Prix de Monaco Historique Chronograph 2012

In a hard-hitting mix of matte grey, neon pops of color and racing stripes on the dial, the Grand Prix de Monaco Historique 2012 watch is a sporty tribute to 1970s racing cars, as well as a celebration of the Grand Prix de Monaco Historique, for which Chopard serves as official timekeeper.

A passion for fine mechanics, extreme precision and rigorous standards have united the House of Chopard and the Grand Prix de Monaco Historique since 2002. This partnership has given rise to a prestigious eponymous collection dedicated to high-speed enthusiasts.

 

The new Chopard Grand Prix de Monaco Historique 2012 model's matt titanium case and anthracite dial provide an understated backdrop for bright colour accents – orange or blue  – enlivening the hour-markers, the seconds hands. The contrast stitching on the grey Barenia calfskin strap also reference the bold graphic design of the 1970s.

 

Equipped with a COSC-certified mechanical self-winding chronometer, the Grand Prix de Monaco Historique 2012 model comes in a generous 42.4 mm-diameter case. On the reverse-side, you get to admire the mechanical movement through an exhibition back engraved with the inscription “Grand Prix de Monaco Historique”.

Another cool touch viewable through the back: an exquisite sapphire crystal bearing the insignia of the Automobile Club de Monaco. Specs-wise, the new model is water-resistant to 50 metres and comes with a strap featuring a titanium pin buckle. Available in titanium and rose gold, this sporty-luxe timepiece is issued in a limited edition of 500 pieces.

Chopard

The Business Of Luxury By Lorre White

 

By Lorre White 'The Luxury Guru'

Luxury brands are sensitive to whom and what they are affiliated with. You could say that Ferrari is the Cristal of the car world, or that NetJets is the Valentino of the Fractional Jet ownership, or that Augusta is the Buckingham Palace of the golf courses. Anyone listening to you would understand what you are saying by the comparisons made.

I tell my consulting clients Luxury Marketing is a lot like school; a brand is judged by the company it keeps. First of all a luxury brand needs to be on a site where the viewers have the wealth to purchase the products, but also be among their peers advertising. If you had never heard of Cristal Champagne but someone said it was the Ferrari of champagnes, you would know that it is a good one. Luxury Brands need to advertise where there are other products of their “class” but not competitors.  It would be a conflict of interest for Ferrari to be on a site with Lamborghini, but not a conflict to be on a site with Armani.

The luxury demographic, just like any other group, has predictable actions and responses, it is just different then that of the mass market.  Tossing the word “luxury” in your verbiage and showing pretty pictures is only going to fool the demographic that you are not seeking.  Trying to start in the middle and work your way to the top is a very middle class perspective and
will not work.  The wealthier demographic do not respond the same way as the mass market does and so their marketing is ineffective on this group. Because most uber-rich (92%) globally are new money and do not know brand distinction, class marketing this is even more important today. Fifty percent of the world’s wealth is controlled by the top 2% globally. These
are the taste makers and trendsetters and marketing to them diverges greatly from everything learned in mass marketing. 

In the Luxury World you will never be higher on the luxury scale than when you launch.  It takes much more money up front to reach this group.  It is not like a mass market where you can tweak things and improve them along the way. Image is something that is built over time and is a collection of many actions, and the brand, like a reputation, it can be blown in just one bad act.  The class market is not forgiving.  You can not launch mid level and put more money into it later when the business gets rolling and climb into a luxury status.  Where you début is the highest you will reach and you can only fall from there in the luxury market.  There can be an Armani and then an Armani Exchange, but it can never work the other way around.  Mercedes built a reputation on expensive quality cars; now they have an inexpensive $40,000 car in there line.  It could never work in reverse where a brand known for cheap cars could then successfully sell a $250,000 car.  Coach is a perfect example.  Coach falls on the low end of the luxury scale. 

A woman can buy a good quality purse for $150 to $200 range.  Coach decided they wanted to sample some of Louis Vuitton’s success at the $1000 to $3000 range.  Coach invested in designers and a whole new product line to fail. For someone skilled in luxury marketing, the reason is obvious, what woman is going to spend $3000 on a purse that when anyone looks at it see a $200 purse because of the brand’s image.  Coach sells frequently in outlet stores, so their products are often available at sale prices.  You will not find a sale on LV purses.  True luxury brands, managed by skilled class marketers, know that you never put your products on sale.  The hundred thousand you save would be off set by the hundreds of millions lost in brand image.  It can be irreparable damage.  A sale tells clients that it was over priced to begin with. Remember, in luxury, you can maintain, but the only directional change you can take is to fall.  It never pays to play with branding in the elite market.  Brands must be vigilant in the protection of their name.

"Those who say it can't be done...need to get out of the way of those who are doing it!"

Lorre White
'The Luxury Guru'
CEO White Light Consulting

www.LuxGuru.Typepad.com   (Luxury Blog)
www.WhiteLightConsulting.net

 

The captured attention of the super rich.

You Have 8 Million Hours A Year To Sell More To The Super Rich...

 

As important from a marketer's standpoint, private jets provide a captive audience of these highly affluent consumers. An estimated 7.9 million hours were flown by private jets during 2011 in the U.S. alone, according to the Federal Aviation Administration. This equates to the time it would take to make 778 round trips by spacecraft to Mars, watch an episode of Friends 16 million times, or run 1,777,777 marathons at an average time of 4:32. There is a lot of marketing opportunity time for companies that would like to sell their products and services to private jet travelers. 

Prada to open in June, in Dubai, its third largest store in the world

News      07 May 2012

Prada flagship store

 

 

Italian luxury house of PRADA is making a spectacular come back to Dubai, after a 2 year absence, opening at The Mall of Emirates, in June, its third largest store in the world. Prada operates in the UAE through a Joint Venture with major luxury retailer Al Tayer. The new PRADA flagship store at Mall of the Emirates will feature both women's and men's collections, with a full product range. A MIU MIU store will follow suit, scheduled to open by the end of the year.    Mall of the Emirates has about 80 luxury and high-fashion stores, and is adding 20 stores in total, aiming to surpass 36 million visitors this year.

www.Cpp-Luxury.com

Look for the celebrity feature on Lorre White, "The Luxury Guru", in the July issue of UK's Luxury "Water Front Magazine".

Sustainable luxury, the basis of entrepreneurial success - interview with founder of Love Brand & Co

Love Brand & Co, Father's Day campaign

 

Click on the picture to see gallery (2 pictures)

 

1. What has been the backbone of your inspiration when creating a company to specialize solely on men’s and boys swimwear? Love Brand is not solely swimwear. The company plans to expand through a series of ready-to-wear products, each intrinsically dedicated to a relevant charity. This idea to blend or bisociate previously unrelated matrices; a luxury collection with a worthy cause is the backbone of Love Brand & Co. ‘Trunks for Trunks’ (swimming trunks for endangered Asian elephants) is just one of our blends. I was inspired and motivated by the plight of the iconic animal; the world has lost 90% of wild Asian elephants in the last 100 years. By raising awareness and donations of profits we can help Elephant Family save this incredible animal from extinction in the wild.  

2. What are your mid and long term expectation financial expectations? How large is your team? Love Brand & Co. is a typical start up in its launch stage. We currently have a small team of four but that number I expect and hope will grow with the business. Right now we are focused on our current collection of Mens and matching boys swimwear. We are telling our story and testing our debut product in the market. Mid term we will continue to develop products and engage new customers with them and thier respective causes. Long term I have a big dream but we will take it a step at a time.

3. Nowadays, there are so many endangered animal species worldwide. Why elephants? And why Asia? Exactly, there are many. But you have to start somewhere. Actually with elephants, it started as neat connection I came up with between product and problem. With rhyme or the double entendre in this case, the Love Brand blend is catchy and that is half the point. I learnt that wild Asian elephants were under serious threat of extinction when the Elephant Charity paraded painted elephants across London and the idea clicked. It was only after exploring the elephant corridors or ‘conflict’ zones in India and spending time with Asian elephants, that I really understood the problems involved and became really passionate about helping save them. 4. Your current distribution is online (e-commerce) and several multi-brand boutiques in select international destination. Is this the strategy you wish to pursue for the future too? Do you have any plans for a mono-brand boutique? The current strategy is to distribute Love Brand & Co. online through our E-Boutique www.lovebrand.com and through select resorts, boutiques and department stores. The long term dream is a mono-brand boutique. We plan to blend concepts together for the Love Brand consumer experience.  

5. Where are your products made? Do you have a protective labor sustainability policy? Our current collection is made in Hong Kong. We are very proud of the craftmanship and quality produced. We work closely with our supplier, echoing our ethical  and environmental standards.  

6. Most other similar premium brands have, soon after launch, diversified their product range. Do you have such plans and what do you think about diversification? I am designing a number of new products as we speak. We plan to introduce one of these next year. My lips are sealed for the moment to what this is and for what it will be in aid of. 7. What is the current positioning of your brand? – premium, upmarket, luxury etc Love Brand & Co. we aim to be classed as luxury. We are focused on delivering the best of consumer experiences: excellent designer product, attention to detail, easy shop attitude and exciting concept blending.

8. What is the profile of your most loyal consumer / buyer? We are finding Love Brand appeals to a wide demographic. Our customers range between men and boys of all ages from all over the world. We are seeing a great deal of return custom, which is an encouraging indicator. We get lots of great feedback not just from the performance of the product but on the enjoyable experience of giving/receiving Love Brand.  

9. Which is your company’s most successful market outside the UK? We are also successful in France, Spain and India, which we look forward to furthering in 2013, as well as new markets that are showing real interest in Love Brand & Co. including parts of United States, Russia,  Middle East and Australia.

www.Cpp-luxury.com

 

The Indian luxury market: The Great Divide

 

 

 

Over the past few years, India has witnessed the continuous arrival of international designer brands. ''India is the next China'', and the demand of luxury is growing consistently. However, the Indian market is very complex to understand. Understanding customers is the bottom-line to be successful.  Different segmentation frameworks of the luxury consumers in India coexist, but the most appropriate is the one established by Radha Chadha and Paul Husband in their book The Cult of the Luxury brand: Inside Asia’s love affair with luxury by Nicholas Brealey International (2006). “OLD MONEY” or INDUSTRIAL DYNASTIES This segment has always been present in India. The most famous industrial dynasties are TATA, BIRLA, GODREJ, BAJAJ, THAPAR and MAHINDRA. These groups are at the head of powerful conglomerates in diverse industries such as steel, automobile and telecommunications. They are highly educated and their business activities enable them to travel around the world, and are aware of quality and brands. “NEW MONEY” or the Diverse faces of Entrepreneurship This segment gathers businessmen who have started to build their empire from scratch.  It is the ‘I’ve made it’ generation. The "New Money" group are more modern and they go for shopping sprees abroad. They have a more ostentatious consumption behaviour, because of which they look out for cutting-edge products. Like "Old Money", they constitute the premium target of luxury brands. The only difference with the Industrial Dynasties is that luxe is very new for these new entrepreneurs. This segment is very heterogeneous: from Punjabi farmers to high- tech entrepreneurs from Bangalore or Maharashtra's rural businessmen etc. “GOLD COLLARS” They are predominantly from modest families but they had the opportunity to go to the best Indian institutes: IIT (INDIAN INSTITUTE OF TECHNOLOGY) or IIM (INDIAN INSTITUTE OF MANAGEMENT). They are currently between 35 to 55 years old, have a high-responsibility position and have a good income. The peculiarity of this group is that they can afford luxury products but they do not have the mindset or the urge to do so. They prefer to invest in family-related activities: education of their children, real estate, trips abroad, cars, etc. “BPO generation” or liberalization’s children This segment gathers the 19-29 year-old Indians who work in the flourishing BPO industries (Business Source Outsourcing). Most of them live in their parents' home and with no living expenses (which are taken care of by their parents). Hence, they are spendthrifts and they buy goods for themselves: leisure, clothing, mobile phones, accessories, etc. This generation, a fan of Bollywood and international TV usually follow Western trends. They have one single need: to get dressed and live like their counterparts in Europe or the USA.  There are currently 200 million Indians in the 20-30 age group and this is going to continue (the 15-19 age group stands for 110 million people in India). Thus, the "BPO" generation will become the "Gold Collars" in a few years and contrary to the latter, they will live with the luxury concept brought about by their childhood.  LOCATION OF INDIAN LUXURY CONSUMERS They are mainly situated in the North and the West but they are spread throughout the country and their number has increased substantially not only in big metropolises but also in second or third-tier cities with the growing number of self-individuals. However, because of the lack of suitable luxury retail space and hefty regulations, luxury brands are predominantly focused in big metroes such as Delhi, Mumbai and Bengaluru but things may change in the future. DELHI VS MUMBAI Delhi and Mumbai are the two biggest luxury hubs in India but the profile of the customers is rather different. Delhi is the main spot for « Old Money ». Delhi has a substantial advantage over Mumbai because it attracts people from satellite cities such as Chandigarth, Ludhiana and Kanpur in which the « New Money » or « New New Money » have enough wealth to spend thanks to revenues mainly from trading, real estate and agriculture.  Logofication is the key factor because they view luxury brands as status symbols. Mumbai, on the opposite, does not have the advantage of a large consumer base coming to town to splurge. Recent consumer purchasing trends have demonstrated that Bombay is fragmented into three parts : the North (near the airport) and the Central part where most of the « New Money » lives, and the South (Nariman Point, Malabar Hill and Colaba) which accounts for the « Old Money », with a more subtle mindset .Being the center of Bollywood, movies and filmstars have a major influence on street style.

 

 

 

 

Mickael Inayatealy

www.Cpp-Luxury.com

How have luxury powerhouses Prada and Ralph Lauren reached institutional lifestyle brand status?

 

Click on the picture to see gallery (1 picture)

 

Both listed companies, yet still run by the founding families, Ralph Lauren and Prada are nowadays two of the world's biggest powerhouses in luxury, which have moved beyond an apparel label and ascended to the status of an institutional liftesyle brand. Each house has been religiously preserving its national identity which is part of their DNA, for Prada Italy and for Ralph Lauren, the U.S. The Laurens, much like the Bertellis maintain full control over their companies, from creative direction, design, production, distribution and marketing. But probably the most important similarity that both companies share is the strength of the brand each created. In an interview, David Lauren, who is responsible for the Ralph Lauren brand identity said ''What makes something Ralph Lauren is both defined and indefinable. It is the biggest mystery, with the clearest message'' adding ''We always say that it is never about a single shirt, or a pair of pants, or a suit, or a gown. It is about an attitude and a spirit.''. He also proudly remarks that although only 40 years old, the Ralph Lauren brand seems to have been around forever and the biggest achievement of his company is the use of the name as an adjective - people today saying ''That's so Ralph Lauren''. While Ralph Lauren embodies a unique classic elegance, PRADA is defined by its forever contemporary creative spirit, uniquely blended with Italian traditional craftsmanship, especially in leather goods. Each season, Miuccia never ceases to amaze consumers by bringing up the most surprising and creative designs, all but different, which is also a defining factor of the brand. Take for instance, Prada's unusual approach to online campaigns, which appear, at times, ambiguous and lacking purpose. The latest such example is the Paralel Universes campaign by Prada online, with a micro website and on Facebook which portrays a series of abstract drawings, each reflecting a particular Prada new product. Although set up in 1913 by the Prada brothers as a shop for leather goods and imported English steamer trunks and handbags, Prada saw its true success in 1978 when Miuccia Prada took over from her mother. In 1978 she met Patrizio Bertelli, her future husband, who became the business brain behind her company. In the early 80s, Prada products were already sold in department stores and in 1983 the first Prada store opened in Milan's Galeria Vittorio Emmanuele II. Soon after marrying Patrizio Bertelli in 1987, Prada launched her first clothing line. Similarly to Ralph Lauren, Prada is almost impossible to define, both brands being a reflection of a unique lifestyle spirit, which the founders have instilled - Ralph Lauren with its timeless classic elegance and Prada with its ever vibrant modernity and abstract feel. The unique spirit of each brand is impeccably reflected both in their stores (Ralph Lauren's sophisticated and lavish mansions and Prada's ultra sleek and modern stores) as well as online - Ralph Lauren's luxurious home feel versus Prada's abstract design. Despite the different styles, both brands share the utmost in innovation - both brands putting emphasis on technology, especially in terms of visual - large photos and ambedded short movies. As for brand awareness techniques, both brands have placed exceptional importance on association with sports. Nowadays, both Prada and Ralph Lauren are outfitters of their national Olympic sports teams, while each brand has a different focus on particular sports - Ralph Lauren has been a major supporter of tennis, being a traditional sponsor of Wimbledon and US Open, two of the world's most prestigious tennis events. Prada has been actively involved in sailing, with its team participating at major competitions such as America's Cup. In terms of business, both companies have been shifting, in the past years, towards distribution through directly operated stores, to better control the identity of the brand. Both companies have been putting an emphasis on Asia, however, Ralph Lauren lags behind Prada which makes over 42% of its turnover in Asia. There are also important differences between the two brands in other markets such as Russia, where Prada operates directly 8 stores while Ralph Lauren operates in franchising only 3 stores. As for India, both brands seem to have adopted a similar cautious policy, none of the companies being present, as yet. When it comes to online sales, Prada still has a lot to catch up with Ralph Lauren, one of the pioneers of e-commerce.  

Oliver Petcu

www.Cpp-Luxury.com