According to Statista.com, Gucci and Louis Vuitton are the most popular luxury fashion brands in the United States, followed by Chanel and Dior. As the desire to be labeled a “luxury brand” remains on the top of numerous Q2 goals list, marketers may wonder what factors differentiate a luxury brand from a “regular” or premium brand.
When I asked Marketing Expert and Brand Strategist Anthony Miyazaki, this complex question, his answer was quite direct. Miyazaki advised that in order for a brand to mold itself into a brand of luxury, they must, “…create desire and a sense of prestige among the masses…” Miyazaki then went on to elaborate on the science behind “luxury”.
“The more people who covet a brand they cannot afford, the more exclusive and prestigious the brand appears. While all brands work to build awareness, desire, and purchase expectations, luxury brands in particular benefit from limiting purchases among the masses, enhancing the status of purchases made by the elite.”
Molding Your Brand
What does one do with this information? Let’s say we have Brand X and Brand Y, Brand X wants to move from a regular brand to a luxury brand, now there are certain procedures that must be put in place. As mentioned, “create desire and a sense of prestige among the masses” is one of the differentiating factors between a regular brand and a luxury brand, and this is not restricted to only fashion brands. Real Estate Mogul and owner of Grant and Associates Real Estate Company, Kenneth E. Grant does a phenomenal job at strategically allowing his Brokerage Firm to be one of the most sought out firms in Miami.
According to Grant, he owes most of his success to his marketing techniques, “for the past four years, I’ve owned and operated my own brokerage. Marketing has significantly elevated my business, particularly through the use of social media. By sharing aspects of my lifestyle, including homes and cars I purchase, I attract a wide range of clients.” If you ask me, most of his clientele is on the more prestigious side. Grant does a great job of tailoring his audience by showcasing goods on the more luxury sides, like his Range Rover and newly obtained Dominican Republic investment property. Once again, the differentiation and technique through his social media presence allows him to gain the clientele that has continued to build his business success and land him on news publications such as Resident Weekly.
Elegance and Identity
Aside from luxury fashion brands and luxury real estate businesses, one may want to upscale their own personal brand, guaranteeing that their personal branding is recognized as one of the more elite and pristine. Solution–driven leader and CEO of Saints House, Shavon Saint Preux, does a fine job of maintaining prestige and exclusivity as it relates to personal branding. When asked what exactly is her secret to her personal branding success, her answer focused on being distinctive and different from the rest. Saint Preux emphasized, “…a person’s distinctive identity, values, and story…” as the reason for her success.
She then went on to tell me how her upbringing molded her and truly paved a way for her success. “My name is Shavon Saint Preux, as a foster care alumni, I capitalized off the power of personal brand marketing using my life trials and tribulations and how I’ve overcome. My personal story allowed me to pay it forward and launch my own organization. By sharing my personal journey, experiences, and passion for empowering others this allowed for me to market myself and build an authentic connection with my audience. It helped establish credibility and trust, paving the way for my nonprofit Propelling Into Triumph, which now serves youth aging out of foster care, providing them with the support and resources needed as they transition into adulthood.” Saint Preux is one of Miami’s youngest success stories, she was even honored in “The Haitian-American Chamber of Commerce of Florida” as one of the Top 20 Under 40 Young Haitian-American Professionals (YoPros) in the State of Florida. She has also been featured in top News publications such as Channel 10 News for her philanthropy and business, Saint House. With so many eyes on her, I can ensure that she is not only extremely knowledgeable but doing an amazing job at tailoring her personal branding.
Coming from the world of marketing and more specifically dealing with industries such as Telecommunications and Health Insurance, the difference between a luxury brand and a regular brand is often visible solely by looking at the marketing. Blue Cross Blue Shield, Florida Blue Regional Marketing Manager, Mario van der Ree III advises that a prestigious brand often has these four things, “strong values, social responsibility principles, & company culture.”
Van Der Ree III has worked with luxury corporate brands such as Blue Cross Blue Shield and Tuucii, a brand who even has “elegance” as one of their brand indicators. Miami being one of the most prestigious cities in the world, being ranked number 11 out of 100 in the U.S for most expensive, luxury is what we breathe. It is a no-brainer that the Design District in Miami houses some of the top brands in the country, with two Louis Vuitton stores within proximity.
Breathe, Bleed and Be Luxury
When we speak of luxury, we cannot leave out luxury cosmetics like Chanel and even Mac, being among the top most popular luxury cosmetics brands in the United States. Most of the success of Mac comes from their strategic marketing technique, such applause can go to Maricia Josephs, the Manager of Global Celebrity, Collaborations & Collections at MAC Cosmetics.
Josephs has worked with numerous luxurious brands such as UGG as well as ASOS, a British retailer that sells top luxury goods. Josephs is a fine example of living, breathing and representing a brand. Oftentimes a brand’s biggest success is from their leaders who exemplify the very values of the brand. Josephs has been interviewed for her expertise on numerous occasions, being recognized as one of the top 35 Women under 35 making it in biz, among other publications. When asked what really differentiates the luxury brands she has worked with from regular brands, she emphasizes “amplifying diverse voices”, which is definitely a statement in itself. Josephs highlights, “At MAC, I use my voice to advocate for Black talent in collaborations and leadership…being black in this industry allows me to share cultural nuances and champion black voices”, she further explains the importance of diversity even within a luxury brand.
All in all, when it comes to excellence and luxury, whether a luxury fashion brand, luxury million-dollar business or tailoring your personal brand to have a more prestigious feel, one must focus on reputation, exclusiveness and prestige. As marketers, we can ask our clientele what exactly is the goal and knock everything off the list that does not align.
For more expertise marketing tips, please see other publications from Elle Smith.
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