Markeeters’ Post

I have been writing about VIP Clienteling in #luxuryretail and how important it is for brands to offer exceptional #customerexperiences to their top clients. The news that Dior & Armani were fined for exploiting foreign labour, and that they sell their products for exponentially more than the cost of production has created an outrage with customers. VIP Clientele are particularly shaken, given their expectations from the luxury brands they are loyal to include: 1.  Private Spaces 2.  Dedicated Relationship Manager 3.  Priority Access 4.  Exclusive events & Community 5.  One of a kind experiences 6.  Exceptional workmanship and quality 7.  Alignment with brand ethics & values 8.  Involvement in the Brand 9.  Bespoke Products 10. Hyper- personalisation 11. Global Recognition Amongst these, ethical and sustainable practices, exquisitely hand crafted products and involvement with the brand like behind the scene tours is an important part of the VIP customer experience.   Not just VIP Customers, but all Customers want to believe in the brand values, imagining a behind the scenes tour would lead them to a quant village in Italy with passionate artisans working painstakingly one each creation. Instead the reality is more of a sweatshop.    I would think loyal Dior and Armani customers are waiting for the brand to take responsibility and show their commitment to providing a true luxury experience by:   -  promising to pay more attention to their supply chain practices -  building authentic brand stories that they can showcase openly to customers -  rebuilding trust through transparency and accountability - proactively adopting and reinforcing ethical practices in every area   This news piece definitely clouded my opinion of these brands as a luxury professional as well as a customer. How did it make you feel? Let me know in the comments. #LuxuryRetail #VIPClienteling #LuxuryCustomerExperience #LuxuryService #ClientLoyalty #SalesTraining #CustomerJourney #RetailExcellence #LuxuryWorkshops

When investing in the luxury market, it's essential to focus on several key factors to ensure your assets appreciate over time. Brand Heritage: Prioritize iconic brands like Hermès and Chanel. Their strong legacy and enduring appeal make them reliable investments. Exclusive Collections: Look for limited editions and unique pieces. Scarcity often drives demand and increases value. Market Demand: Stay updated with the latest market trends. Knowledge of current and future demands in the luxury sector is crucial for informed decision-making. Investing in luxury requires a keen eye for quality and exclusivity. For more insights and expert advice, subscribe to our newsletter via our website- marionsolon.com or book a consultation at msfds.setmore.com/beta #msfds #fashioninsights #luxuryconsulting #fashioninsight #finance #affluent #richlife #richinvestment #luxuryportfolio #businessoffashion #fashion2024 #ms_buildup #MS_FDS

Had the privilege of discussing luxury marketing and how well-known brands strategically harness human psychology to boost brand allure with Campaign Asia-Pacific! The essential elements include: a) Crafting desirability and exclusivity, b) Precisely orchestrating product availability, and c) Elevating brand image through strategic collaborations. Link to the article: https://lnkd.in/dY6VGgF3 #luxurymarketing #marketingstrategy #brandstrategy #commercestrategy

As the The Wall Street Journal article states (see link below), Hermès is in a class by itself in its categories. It is the SEAL TEAM SIX of luxury goods. We have never worked for Hermès. They never needed us. Over the years we have met with seniors to exchange notes on the current state of luxury and the HNW and UHNW SuperClients. They operate in a few categories, and we operate in dozens including, health care, longevity and wealth management, so I believe it is mutually insightful. Our case study on Hermès, continually updated, is chockfull of insights and details. The bottom line is that Hermes behaves like, as Simon Sinek's The Optimism Company shows in its videos, SEAL TEAM SIX: Highest-Performance/Highest Trust. Hermes knows it does not control LUCK, so they do their utmost to control SKILL, the Mastery of their Domain. They are unmatched in SKILL. As we enter our 21st year in business, having served over 1000 brands across dozens of categories globally, we also strive to be the SEAL TEAM SIX of our business, knowing that we can do so only by continuously raising the bar on developing the Expertise and Emotional Intelligence, and always acting like a Fiduciary: to protect, enhance and promote the best interests of our Luxury Goods and Services Brand Clients, their SuperClients and Clients. Sometimes despite themselves. We limit the number of annual engagements, because like Hermes, we strive to be the absolute best, not the biggest. The growth comes from repeat business and referrals. Our beloved unique and exclusive networks of HNW and UHNW families and individuals and of top-tier Luxury Professionals, ensure that our business model delivers the best insights, the best performance with the highest level of TRUST. Unmatched. 2024 will be a challenging year. How much High Performance and High Trust will your brand deliver? We can wish you good luck, and we do, in 2024; we would rather help you master your Luxury SKILLS. That is totally controllable. https://lnkd.in/e8wt9jet

The U.S. luxury pen market set to reach $340.28M by 2029. The U.S. luxury pen market thrives on personalization: Custom engravings, limited editions, and unique materials elevate gifting experiences and brand loyalty. Consumers seek quality craftsmanship and lasting value in writing instruments. Know More about the Market: https://lnkd.in/gzPjy_9k Key Players: A.T. Cross Company | Cartier | Faber-Castell Group | Lamy Inc. | Montblanc | Newell Brands #LuxuryPens #Personalization #PersonalizedPens  #ariztonresearchreveals #marketresearch #marketoverview #industryupdates

What we could all learn from Hermès’ marketing strategy. Last week, my wife passionately explained the rationale behind her all-too-frequent trips to Hermès. According to her, the little orange bags that keep mysteriously appearing in the closet are actually part of a greater investment strategy. They are, in fact, part of a wider ploy to acquire the “ultimate investment”. A bag that almost doubles in value as you walk out of the door due to its rarity. It made me consider the extent to which Hermès has mastered the art of scarcity marketing and exclusivity. Through premium positioning, limited production and controlled distribution, the brand has created the ultimate desirability around its products; the Birkin bags are no longer just accessories; they have become symbols of exclusivity. There are lessons that every business could learn from Hermès about the power of the brand and creating desire. Whether it's products, services, members’ clubs or restaurants If a product is high quality but the supply is limited, the natural human response is a sense of urgency and desire, creating an unmatched level of brand loyalty. I can't wait to see how much out of an "investment" this pans out to be 👀 #marketing #strategy #luxury #luxuryfashion

👜𝐈𝐧 𝐋𝐮𝐱𝐮𝐫𝐲 𝐂𝐑𝐌, 𝐭𝐡𝐞𝐫𝐞 𝐢𝐬 𝐭𝐡𝐞 𝐫𝐮𝐥𝐞𝐛𝐨𝐨𝐤…𝐚𝐧𝐝 𝐭𝐡𝐞𝐫𝐞 𝐢𝐬 𝐇𝐞𝐫𝐦è𝐬. In my CRM world, we’re used to luxury brands courting customers, with sales staff spending time nurturing strong 121 relationships and building trust. But at Hermès, it's the customers who put in the effort. I've seen this first-hand when I was working at the Faubourg Saint-Honoré flagship. While other luxury brands typically entice customers with complimentary gifts, Hermès customers turned things on their head. They didn't just wait passively for gifts; they brought their own to us, the sales staff, hoping we would contact them first when new stock arrived. This isn't merely a quirky anecdote. It’s a powerful demonstration of the magnetic power of the Hermès brand. For competitors, the lesson is clear: craft products and experiences so exclusive that customers will do anything just to get on your list. Any thoughts? Leave them in the comments ⬇️

What do you get when you creatively combine the #champagne brand Martell Mumm Perrier-Jouët, with the talents of CHANEL French embroidery Atelier Montex artists during Paris Fashion Week ... The most exquisite champagne bottle I have ever seen! This is a brilliant, attention-grabbing, collaboration example of #luxury leadership. In our Luxury Mindset research (details in the comments below) we share: Luxury is about experiences, not things. This collaboration featured in Luxury Daily can inspire you to design something to grab the attention of the clients you want to serve and creatively launch it in the world. How can you think more creatively about your 2024 collaborations? Where can you combine the brilliance of your brand with a complimentary offering to attract the luxury clients you want to serve? #BelleEpoque #ChampagneLover #LuxuryIsAMindset #LiveLuxe

🔴 Luxury Brands Have a Strict Hierarchy. Burberry Found Out the Hard Way. - The Wall Street Journal Hey LinkedIn fam, check out this fascinating article from The Wall Street Journal shedding light on the challenges luxury brands face in maintaining their status and appeal in today's market. The recent misstep by Burberry serves as a reminder of the delicate balance these brands must strike. It's a thought-provoking read for anyone interested in brand management and the ever-evolving dynamics of the luxury industry. #LuxuryBrands #BrandManagement #WSJArticle https://ift.tt/ctrN9oZ

🚀 Resilience and Growth in the Luxury Sector: A First-Quarter Insight As we review the first-quarter figures across the luxury market, it's clear that the narrative isn't one of decline, but of remarkable resilience and selective growth. Despite the fears of a slowdown post-pandemic, certain brands have showcased their enduring allure and robust performance. 🔍 Divergent Performances While some brands face challenges, particularly in China, others like Hermès are soaring, with a 17% increase in first-quarter organic sales driven largely by their high-margin leather goods. This variance underscores the importance of strategic brand management and market positioning. 💡 High-End Resilience The luxury market's strength continues to be buoyed by the ultra-wealthy, with Hermès and Brunello Cucinelli leading the charge. Hermès’s ability to outperform, even in damped economic conditions, highlights the lessened impact of economic fluctuations on super high-end consumers. 📈 Stable Growth Prospects Despite the end of the post-pandemic sales boom, the luxury sector is on a path to achieving a steady growth rate of 6-8% this year. This is a testament to the sector's size and the strategic agility of luxury brands. #LuxuryBrands #MarketInsight #BusinessStrategy #Resilience