Apparel Online India Magazine February 1st Issue 2019 | Page 33

FASHION BUSINESS
What are the key parameters
which decide whether a brand
can be called a luxury brand?
1. History: When was the brand
founded? The history of the
brand usually plays a very
important part in defining
a luxury brand. Brands like
Dior, Chanel and Balenciaga
are more than 40-50 years
old. The DNA of such brands
is enriched with fascinating
stories and iconic creations.
People aspire to be associated
with such rich past by
possessing something from
such brands.
2. Savoir Faire: Luxury brands
have unique  ‘Savoir faire’ or
‘Technical know-how’, which
distinguishes them from other
brands. For example, Louis
Vuitton is known for making
exceptional luggage bags
for travelling or Burberry is
known for its trench coats.
3. Quality: Luxury brands are
very particular about quality.
Everything is made where it is
best-made. Shoes are made in
Spain, bags in Italy and high-
end garments all over Europe.
4. Brand Bouquet: It is not an
obligation but today most of
the luxury brands offer many
product categories – prêt-à-
porter, shoes, leather goods
(bags and accessories),
perfumes, sun shades,
cosmetics, jewellery. Some
brands even offer home
products such as Hermès.
“In 2016, Banka launched a brand of hand-embroidered scarves and accessories called
LAÏTEworks. This brand combines design inspirations from France and handcrafted skills
from India. LAÏTEworks as a brand participates in Maison&Objet, Paris and currently
retails from several stores in Italy, France, Switzerland, United States and Japan.”
5. On the Fashion Map:
Luxury brands participate
in one of the four main
fashion weeks – Paris,
London, Milan, New York.
6. Trendsetters: Luxury
brands hire the most
talented of the creative
minds to create the latest
and trendsetting looks
whether in bags, watches,
perfumes, etc. One has to
surpass that which already
exists.
7. Image: Luxury brands
employ strong marketing
strategies to set the image
of the brand. Choicest of
celebrities are made brand
ambassadors. These brands
are published in all leading
magazines. Expensive
locations are chosen for
store placements. Huge
investments are made in
show windows as they are
the image of the brand.
8. Price Points: Luxury
products come with a price
tag. Price is not the limit in
luxury business.
9. Service: The service in
luxury business is of prime
importance. If one wants to
Luxury Brand
is like a fivestar
rating for
hotels. It’s like
Rolls Royce
amongst the
cars, flying
business class
in flights.
Everything has
to be on the
top of the line–
the products,
the quality,
the price, the
stores, the
services and
the ambience.
sell a dress worth € 3,000 to a
client, one has to imagine how
the store should look like, how
the staff should behave, what
all services should be provided
to such a client, how the dress
will be packaged to be handed
over to the client and so on.

Having said that, luxury
brands may break one
or two codes to be more
original but the underline
codes or parameters to call a
brand a luxury brand remain
the same.
When companies market a
luxury brand, what customer
instincts and desires are they
really appealing to and has that
changed over the time? How
is it different in India vis-a-
vis abroad?
Humans have the desire to rise
financially. Buying a luxury
product validates this progress as
it reflects the purchasing power of
a client. It boosts their ego. It is an
indirect way to show one’s power,
reputation, money and status.
The main focus of a luxury product
is to satisfy the aspirational/
associative desires of a client.
The product has to have a history/
www.apparelresources.com | FEBRUARY 1-15, 2019 | Apparel Online India
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