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Luxury DTC Brands

DTC Luxury Brands

I would say all successful luxury brands have a solid, clear and consistent branding strategy. And now you might wonder whether there are some steps or processes that we can check whether the brand structure of a luxury brands is complete. And this is the result of the branding principles and the luxury industry, namely seven steps of the brand building process
I advise everyone welcome to fashion video. So from my past luxury brand case studies and also strategy related videos, I realized that most of my subscribers have great interest in the luxury industry. And so I would like to contribute another episode and luxury branding so that you can have a better overview and also a fundamental background knowledge how the branding process goes. Also, branding can make your brand even more appealing to consumers and for luxury brands. Its brand and image is much more important than other brand categories such as FMCG brands or fashion brands. And so now let’s take a look at the seven steps so that you can check whether the brand structure is healthy or not. Step number one the brand concept. Brand concept is actually the overall idea behind the creation of the brand. And for example, the name and its history sorry, behind the brand, its country of origin. The key visuals, the visual images, its logos, colors, shapes, languages, and its total offering reflect the brand concept. And these elements actually helps to build up a sense of luxury brands and while observing most of the famous luxury brands you might notice that some products stand out of the brand concept such as watches for Rolex handbags for Agnes and tweed jackets for Chanel. And also some of the brands share some clear and prestige characteristics such as the chocolate colored monogram of Louis Vuitton, and also the Tiffany blue. And when it comes to the luxury brands name, the name of most of the luxury brands refer to their founder or its most important designer and often gives an indication of the country of origin nowadays, you realize that some of the luxury brands even change their names or logos with time goes by, for example, Christian Dior. Now you can only see Dior, and also they change the font of the art into a more romantic image. But it doesn’t mean that they always get rid of the old things, but also they revive some of the old concept symbols to the products now for example, the C D symbol, you can find that in some of the products of the and another example if salovaara Now you can only see sellable and also they change your font into a more modern and cool way. And this means that the logos or the symbols can be altered or can be revived with the branding strategy in mind. Namely, they need to always stick to their brand DNA, the next step brand identity it reflects who the brand truly is and how the brand is perceived by the consumers. And so now please imagine one of your favorite luxury brands and it is like a human being standing in front of you and what kind of feelings what kind of personalities he or she has this kind of concept can be understood as brand identity and also the brand identity can be divided into two components, namely the brand personality and the brand image. And so what’s the difference between the brand personality and brand image? It’s quite easy to understand if we do the brand as human being. So brand personality what kind of personality to I have to I wants to be seen by the others, this is brand personality. And while brand image is a reflection of my personality towards others, what kinds of perceptions to others have. And so now you can understand that brand personality starts from the brand itself. And while for brand image is from a consumers perspective to observe
the brand so for this step the goal of the luxury brand is to make consumers perceive that it is a luxury brand, namely by showing heritage, authenticity or even craftsmanship. So here it’s very important to have a clear and consistent brand identity. So that’s your consumers won’t be confused who you are. And so after having the brand concept and brand identity, the third step is to create brand awareness. Brand Awareness consists of two elements namely brand recognition and brand recalled performance or brand recognition, it can be explained by through prior brand exposure. Customers can still recognize the brand and why and for brand recall performance. I would like to give an example a woman wants to buy high heels and so some of the luxury brands might pop up in her mind be it Cristiano Puerto or Jimmy Choo. And so this process this recalling process is called brand recall performance. luxury brands have a high level of awareness in comparison to fashion brands due to its aspirational and unique elements namely, a sense of luxury and brand awareness is achieved through the creation of visibility and high visibility is super important for luxury brands. However, due to the 24 of anti law, luxury marketing, it can also deteriorate the luxury brands. So it’s very important for them to stay visible while maintaining exclusivity. Therefore step brand positioning. I would say this step is a bit tricky for luxury brands because as I’ve previously mentioned, luxury brands shouldn’t have normal brand positioning as brand new or fashion brands because their wants to prevent themselves from comparing to each other. And so I would say brand positioning is more important for premium and fashion brands so that they can find their unique selling points to convey to their consumers. And for luxury brands. They need to stick to their brand identity to make them even more unique. And to have this bold statement of this is who I am. The fifth step is to create brand loyalty. I would say most of the luxury brands have huge amount of loyal customers and the reason why they have beers amount of loyal customers is that the emotional bond between consumers and brands and also the consumers might use the luxury goods to communicate with others. The bags they use the clothes they wear. These are the symbols that they want to show the others the person they are or aspire to be. And so luxury goods does become a communication tool for them. The sixth step brand equity I would say it’s a summary of the previous five steps is the sum of all distinctive qualities of the brand that result in the continuous demand and commitment of the customers to the brand. And so this brand equity leads to brand value, the last step brand value, brand value is the result of the success and failure of the brand. And it is generated at the end of brand building process and all the previous process contributes to this brand value. And what’s the difference between brand equity and brand value? Well brand equity is based on consumer psychological indicators. And while brand value is the translation of this equity to financial gains of the brand. And so among all the values, I would say for luxury brands, the most important of all is to have creativity, craftsmanship, and uniqueness and also the authenticity. So that’s have a quick summary of the seven steps so that you can link everything together. First, the brand concept and the brand identity have to be defined. Later. Brand awareness is created by increasing visibility of the brand. When the
brand is visible to its target audience the brand should get its positioning into consumers mind. The creation of the brand loyalty brand equity and brand value are the final steps of the luxury brand building process.