We have all seen someone wearing a F monogrammed sweater ,which belongs to the brand Fendi, or Chanel’s tweed jackets , or Balmain’s t-shirts etc .Why do these brands catch our attention more than the the other apparel brands ? Well , because these are the luxury apparel brands sold at premium pricing worn by the “elite “ . These brands evoke exclusivity , have a well established mature brand identity , enjoys high brand awareness and a perceived quality of craftsmanship , and enjoy high customer loyalty which translates into steady revenues .. The brand heritage and the brand image form the brand equity of these brands which attracts very specific customers and forms relationship between the two . The strategies of these brands are very paradoxical .Be global but stay local, explore new territories but stay connected to the roots be accessible but remain aspirational, maximize brand reach without having to minimize prices . We are a group of 5 students of International Marketing and Business Development , hailing from different parts of the world , who want to delve deeper into luxury apparel market . So please come , join us in our quest while we try our best to explore all facets of this scintillating market .
Shaleen Bains
Bibliography :
Cesare Amatulli and V . Speciale The (2016) ,The relationship between fashion and luxury brands
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