The premium fashion brands segment has arguably witnessed the greatest
changes in the consumer market. They are also facing aggressive competition
from the higher-priced luxury and prestige brands and the lower priced mass-
fashion brands.Mass-fashion brandson the other hand are those that dress the masses. A
recent evolution brought about by competition has also created a significant
change in the way this category is viewed. Although brands in this group
include supermarket ranges such as Wal Mart, Carrefour, Tesco and Asda; and
other brands like the U.K.’s Primark and France’s Tati, these brands are effec-
tively implementing differentiation and are currently developing strategies to
elevate their offerings.
The difference between luxury brands and fashion brands is not only in the
marketing mix aspects of product quality and pricing. It also applies to avail-
ability and exclusivity of the products. Fashion brands are for the mass
market, whether the products are of high quality or not. Luxury brands remain
for a distinct market although this market has broadened. They are defined by
high quality, differentiation and precision in product design and manufacture.
A brand is either a luxury brand or it is not. There is no in-between. If a
brand does not set out to target the high-end market, then it would be difficult
for it to become a luxury brand as a result of all the factors identified so far
in this chapter.So who are the true luxury brands?
The traditional view of luxury has been affected by the recent changes in the
luxury market. Despite this, the true luxury and prestige brands remain,
unwavering and uncompromising of their core values and continuously influ-
ence their consumers’ thinking. These brands have also benefited from long
histories, as heritage and tradition have always played a vital role in the
luxury goods sector. New brands that have devised strategies that enable them
act as old brands also fall within this group.
Luxury brands that desire to succeed in the marketplace must develop
strategies that address the difficult paradox of the combination of exclusivity
and availability and an appeal to many while appearing to be right for only a
special few. They must remain relevant to the consumer population even as
the market continues to change.
While I am not going to provide you with the easy solution of listing the
true luxury brands, I can suggest a simple test that can be applied to ascertain
whether a brand is a true luxury and prestige brand or not:If you move the Louis Vuitton boutique 30km away from its flagship store on
Avenue des Champs Elysées, will the consumer be ready to follow the brand to the242
luxury fashion branding