China will promote and support native creative talent both acquired
locally and abroad like Barney Cheng and Jimmy Lam. The country’s
size and vigorous nature are ingredients for the success of local talent.
12 Mobile shopping will grow in different parts of the world.
13 Innovative brands will advance marketing and Customer Relations tech-
niques through technology such as Neuromarketing.
The strategic challenge luxury brands face in the light of these factors is that
it is time to get rid of the old strategy where the product was king that drove
the company forward. New luxury is less about the brand’s tangible attributes
such as the product design and packaging and store location. Instead, the New
Luxe embodies intangible brand associations like the complete magic of each
consumer’s experience and the unique impact of the brand on the consumer’s
emotions and subconscious.
Finally, luxury brands also ought to recognize that mass fashion brands
have created an escalated portfolio of offerings that sometimes represent a
more justifiable value to consumers than those of luxury brands. Mass brands
have also fine-tuned their strategies, which sometimes surpass the standards
that were previously set by luxury brands. In order to maintain their luxury
status however, luxury brands must sustain a distance from mass fashion
brands to avoid becoming commonplace. At the same time, luxury brands
should visibly embrace the mass fashion brands as both partners and collab-
orators because mass products now complement luxury products creating a
co-existence between the two product categories.
chapter 7 245le new luxe