The CEO Magazine Asia - 10.2018

76 | theceomagazine.com

C

elebrity ambassador?

Check. Ground-breaking

technology? Check.

Distinctive, unique design

immediately associated with

your brand? Check. Literally, in

the case of British fashion house

Burberry, with its legendary check

pattern known the world over.

While these elements may seem

like the magic formula of today’s luxury

brands, Burberry was pulling it all off in 1914

when Ernest Shackleton wore a Burberry jacket made

from its patented, innovative fabric, gabardine, on an

expedition to Antarctica. Rainwear was revolutionised forever,

and an iconic brand was born.

Not that you would know any of that stepping into a

Burberry store today. LCD screens streaming live fashion

shows greet you at the entrance. Sales assistants carry

tablets that offer buying suggestions based on customers’

purchase history and social media activity. ‘Magic mirrors’

change your clothes as you stand and watch, curating

selections for you to share online with your friends.

INNOVATE, PERSONALISE,

EXPERIENCE – MANY HERITAGE

LUXURY BRANDS ARE FINALLY

CATCHING UP WITH THE NEEDS

OF TODAY’S CUSTOMER,

AND TECHNOLOGY IS THE

KEY TO CHANGE.

WORDS • LISA SMYTH

The luxury brand has embraced new technology so

much that, in 2014, former Burberry CEO Angela Ahrendts

stated that “walking through our doors is just like walking

into our website”.

Not all luxury brands have managed to move with the

times, however, and technology continues to redefine our

world at lightning speed. According to Deloitte’s ‘Global

Powers of Luxury Goods 2018’ report, millennials and

generation Z will collectively represent more than 40 per cent

of the overall luxury goods market by 2025. So, how can the

EIGHT OUT

OF 10 LUXURY

ITEMS ARE

INFLUENCED BY

DIGITAL IN SOME WAY

AND CONSUMERS HIT

AT LEAST ONE DIGITAL

TOUCHPOINT DURING

THEIR

PURCHASING

JOURNEY.

JAGUAR I-PACE