The Luxury Fashion Business
Luxury fashion branding has reached new levels with some of the biggest names in Hollywood, having their own lines of fashion for the masses to wear. These well-known beauties are now using their wealth and fame to help promote these high end lines of clothes, accessories, perfumes and cosmetics. This new level of marketing has helped luxury fashion become one of the fastest growing industries in the world.
Description [FRONT FLIP] “Luxe is a status that begins where luxury ends; These immortal words uttered by Gabrielle Coco Chanel back in the early 20th century still are as relevant today as they were then.” Google Books
How is luxury fashion branding done? Most top companies employ modern luxury fashion branding firms to create a unique identity for them. These firms take a wide variety of inspirations from other industries such as sportswear, handbags and accessories to create a look and feel for their products. This often results in an increased demand for all kinds of clothes, accessories and so on. As a result, these companies increase production and retail stores to meet this demand. All of this results in increased profits.
Why should anyone invest in luxury fashion branding? A luxury fashion business strategy is all about business growth. The more the brand name is spread, the more it will get recognition and be remembered. The more recognition and popularity there is, the higher the value of the brand name. This is the basis of a solid business model.
Luxury fashion brands such as Gucci, Dior, Chanel, Calvin Klein and others are experiencing unprecedented interest from the global youth and the middle class. In the past, such luxury brands were only for the very affluent consumers who could afford them. With the current recession, more consumers are looking to these luxury brands to fulfill their desire for fashionable clothing and accessories.
Luxury fashion brands have also benefited from the increased value that they carry. There has been a massive shift in consumer spending habits. Consumers are now more price sensitive. They look for discount deals and “vivid” price tags. This has resulted in more consumers shopping for discounted items.
In order for the luxury fashion business to prosper, it needs to provide cutting-edge fashion design, marketing and distribution. It is imperative that the company is involved in the design process right from concept to launch. This is not possible if the company is trying to market itself as an exclusive fashion label. Only a luxury fashion brand with a strong retail presence can ensure longevity and profitability for both designers and distributors.
Marketing and distribution are vital components of a successful luxury fashion venture. A good business plan must include a comprehensive marketing and distribution plan. Luxury fashion businesses must target distribution at all levels of the supply chain. Distribution should be included in any luxury fashion investment plan to maximize profits and minimize potential losses. A wholesale distribution company can help to achieve these goals by facilitating lower cost marketing and distribution of luxury fashion merchandise.