Luxury Brands Goes Social!

Source: NYTimes

“The point is, luxury brands cannot compete on product alone,” says Michel Phan, who teaches luxury brand management at the ESSEC Business School in Paris. “They all sell beautiful products and follow the same trends, so loyalty is low. Brands are seeking ways to connect to consumers and show how they’re different.”

The current shift of focus toward the nostalgia of heritage seems to be a prudent one, but Dana Thomas, the author of the 2007 book “Deluxe: How Luxury Lost Its Luster,” says that, in some cases, the theme is a diversionary tactic. “It’s P.R. to present the old-fashioned way, when 95 percent is machine- made. It’s about creating the dream.”

For example, this summer the British advertising regulator, the Advertising Standards Agency, said the Louis Vuitton ad campaign depicting models hand-cutting and stitching leather was “in breach of the truthfulness clause” because the company’s bags are not made by hand, with “infinite patience.”

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