- London is overtaking cities like Paris and New York in the luxury sector because of its unique approach to marketing: a powerful combination of ambassador policy, respect for cultures worldwide and a consistent use of print media.
- This kind of fusion marketing has been utilised by London stores and luxury brand HQs.
- BRIC House recommends that luxury brands collaborate with businesses originating in emerging economies to create an international narrative.
With the great influx of wealthy internationals coming to London every year, not only for its historical heritage but for its vast luxury goods offering, the capital is promising to outshine Paris and New York. Why you may ask? This is because London’s luxury sector is far more bespoke and culturally-sensitive to the international consumer. Furthermore, with over half of customers from the luxury industry in London coming from emerging countries, when we talk about fusion marketing we talk about it happening here in London – not in the foreign stores.BRIC House hosted a brainstorming event where professionals representing 21 ultra-luxury brands came together to discuss how they can increase the value of their brand for emerging market customers.
Kim Kardashian for Balmain? London is thinking differently.
Normally a brand chooses a particular public figure, a brand ambassador, to represent and be associated with their brand. The most common ambassadors are mainstream celebrities, but for London the response from ultra high luxury brands was different and unanimous: Global opinion makers, influencers and innovators are more desirable brand ambassadors than transient celebrities. Immediate association of a brand with a celebrity is difficult to shake off and may not always be beneficial.
‘A celebrity brand ambassador creates the idea that our jewellry is only to be worn once, while it’s “on trend”, but we want to offer the opposite – timeless pieces an elegant woman would want to wear over and over again. Our perfect ambassador would be a highly respected wife or mother in the Middle Eastern scene known for her philanthropy” – Avanti Goenka, Bina Goenka Jewellery, one of the world’s most exclusive jewellery brands.‘Celebrities tend to split opinion and create controversy, whereas a globally successful entrepreneur can only be inspirational and universally admired, and infinitely more accessible and relatable if they come from an emerging market.’ – Dominic Knight, bestselling author,
public speaker and owner of the luxury Harley St practice.‘You need to know your most loyal clients and ours like privacy and exclusivity – if they saw a dress on a celebrity it could deter them from buying it. Our ideal brand ambassador would be someone who has achieved more than just fame – as controversial as that might be!’ – Lorna Morgan, Manager of Giorgio Armani in Sloane Square.