consumers and brands has never been seen in the history of fashion. This is
one of the effects of the new attitudes to luxury.Effect 4: the new luxury brands
The entry barrier of the luxury fashion sector has been lowered, as pointed out
earlier in this chapter. In the past, several decades were required for a new
luxury brand to build its credibility and awareness among consumers. Today,
however, the timeline has reduced substantially. The main factors that have
contributed to this are the internet which provides rapid and uniform infor-
mation to consumers worldwide making the creation of brand awareness
easier; and the globalization of fashion tastes. Also, the increasing flexibility
and experimental nature of luxury consumers increases the success potential
of new luxury brands.
However, only a handful of the hundreds of brands launched annually are
successful. The exceptional brands that have succeeded in establishing global
awareness and credibility in the last two decades include British luxury
leather-goods brand, Jimmy Choo; French luxury brand Paul & Joe; and
British brand Ozwald Boateng. Also British brand Stella McCartney was
launched in 2001, and in little over five years has achieved a global consumer
following. Italian brand Piazza Sempione, launched in 1990, is also growing
rapidly globally. Also highly successful Dolce & Gabbana is only 21 years
old while Versace is a brand that is young at 28 years. These brands can be
considered as being in their infancy when compared to brands like Hermès,
which has a 168 years history, and Louis Vuitton which celebrated its 150
years in 2005. Despite the young age of the new brands, their level of success
is immense, proving the point of the high success potential of new luxury
brands.
Also in the current twenty-first century, two newly launched luxury brands
currently apply strategies that make them brands-to-watch in the coming
years. They are French leather-goods brand André Ross and the self-named
brand of American fashion design icon Tom Ford. André Ross is based on the
brand heritage of bespoke French craftsmanship, which is currently used to
create products for a broader luxury consumer base. Tom Ford on the other
hand has adopted a reverse positioning strategy of launching with lower-
priced products like make-up, eyewear and fragrance rather than apparel and
leather-goods collection.
Several other aspirational brands that have been launched in recent
decades abound, all trying to create brand awareness and occupy a strong
brand positioning in the market. Some of these brands will become success-
ful while others will fail as a result of mistakes and unfeasible business strate-
gies. However, the fact remains that adequate room has now been created for
new brands to be launched in the current luxury fashion market without the236
luxury fashion branding