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Presented in May 2014 at the Istanbul Fashion Conference, manufacturers gained precious insights into how Brands are conceived through values, coherent actions and real innovative products and services. Taking examples from leading international luxury benchmark players such as Prada, Hermès and Giorgio Armani, Professor Dal Santo conveyed how local or regional companies can become more international through a long-term approach.
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Piergiorgio Dal SantoPresident
PGDS Consulting (Milan)
7th Istanbul Fashion Conference8 May 2014
Learning from Luxury
Fashion Brand Benchmarks
Steps towards being a Brand
Local vs. Global Brands
What Makes Luxury Brands Different?
Prestige Brand Strategies
Developing Brand Equity
Key Luxury Business Trends
What Makes Luxury Brands Different?
Strong cultural foundations (Heritage)
Dream and desirability factors
Unique and strong Brand DNA and Codes
Signature and creative audacity
Marketing of the offer, not to demand
Prestige Brand Strategies
Balancing image and businessConsumer relationship (brand, experience)Refreshing the Dream Factor (desire)Reaching new customersDeveloping new productsRemaining true to their DNA
Developing Brand Equity
No luxury without the Brand
Identity
Coherence
Defend rights
Communicate frequently
+ CONSUMERS
European Crisis:
+ Tourism+ Digital+ Accessorization+ Flagship stores
- Wholesale- Eastern Europe
- MARKETS
• USA market still no. 1,becomes key growth engine
• Japan, Italy, China• NYC, Paris, London, HK
• Mens outperforms Womens• + Made-to-measure• Importance of 1st line
sportswear, denim
Data: Bain & Co., Altagamma
…”continually adapt new products to meet changing demands, new concepts have to be invented to sustain the growth of the Brand…”
Giorgio Armani, 2006
Go Beyond Consumer ExpectationsIntegrate new, emerging needsContinue extending the lineAdapt to own existing consumers
PersonalisationSophistication
Low-cost, private labelsSaturated marketsEmpowered clients
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PRADA – Galleria Vittorio Emanuele (Milan)
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PRADA – Galleria Vittorio Emanuele (Milan)
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PRADA – Galleria Vittorio Emanuele (Milan)
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Early founding acts (Past)
The first best-selling Product
Distribution channel
Positioning
Advertising
Events
CEO
Developing a Mission, Values
The Brand Promise
The Flagship Product
Brand Identity vs. Image
Growing the Brand
Influencing consumers
Developing a Mission, Values
Corporate, long-term vision
Territory, city, region
Morals, ethics, beliefs
Certain know-how
Symbol, logo, color, shape
The Brand Platform
The Brand Promise
Points of contact
Staying true to the message
Developing trust, balancing risk
External signs
Discover inner qualities of a product
The Flagship Product
Guiding value
Meaning
Purpose
Respect brand contract
Brand Identity vs. Image
Touch points
Message, tone, atmospheres
Media strategy
Revitalisation
Growing the Brand
Phases of growth
Markets
Licensing
Extension
Co-branding
Complete the offer, range
Reach non-core target
+ Brand Awareness
+ Aspiration value, Perception
Trading up to a Total Look
Create cross-selling
Support core business growth (MTM)
Enter categories consistent with Brand Equity
Partner consistent with my Long-Term strategy
Able to communicate my DNA in new channels
Celebrate 20 years
Invest in “true luxury”
Exploit potential of the segment
DNA, arts, Italy, lifestyle
Sophisticated flavor, references to elegance
Influencing consumers, clients
Power to trigger emotions
Go-to-market strategies
Local culture
Regional marketing materials
Customize retail assortment
Tiered approach vs. mature tastes
Since 2008 PGDS Consulting (Milan) is a boutique agency providing strategic advise to international brands on business development activities, with a focus on the China and India luxury and fashion markets.
Piergiorgio is also Chief Researcher and Educator for the Fortune Character Institute (Beijing) and Co-Secretary of the Luxury in China Summit (Shanghai, 17 October), which presents the annual High Net Worth Individual consumer research called the China Luxury Report.
He is Visiting professor in Luxury Brand Management and Fashion Marketing at Fondazione CUOA, University of Padua, IUM Montecarlo and Shanghai Jiao Tong University.
THANK YOU !
Piergiorgio Dal SantoPresident
PGDS CONSULTINGVia Rugabella 1
20122 Milano ITALYE: pgdalsanto@gmail.com
W: www.pgdalsanto.blogspot.com
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