When Bernard Arnault announced this morning that Marc Jacobs would be leaving Louis Vuitton, the fashion world erupted with an outpouring of emotion about his departure, most of it coming through on social media.
At an event organized this week in Milan by Res and New Direction, Italian Member of the European Parliament and Vice-Chairman of the Committee on International Trade of the European Parliament, Mrs. Cristiana Muscardini, warned that counterfeiting...
"Luxury goods companies worldwide have focused considerable attention on online marketing and sales channels in the past year, to tangible effect. Initially, many were wary, fearing that e-commerce might diminish their brands’ integrity or that customers would be unlikely to buy expensive items without seeing them first. Indeed, the reasoning went, the in-store sales ceremony was an intrinsic part of the value proposition..."
One of the main instigators of the luxury brand push to online: more luxury consumers are looking online for entertainment, news and engagement.
"Overall, while the majority of those surveyed indicated that investment in digital is indeed growing, luxury brand marketers want much better ways to reach affluent consumers on the go," said Martini Media CEO, Skip Brand. "Those audiences have more dollars than time and expect an engagement experience that standard banner units do not deliver. And while they are willing to pay for it, if they cannot measure the return across their investments, it is an issue.".
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Study Finds Facebook Holds Most Social Media Power Among Luxury Brands TIME A new report released today by New York University's Luxury Lab think tank, or L2, measures the performance of social media advertising for almost 250 prestige brands.
China’s online market is vast and growing at an insane rate – Chinese e-commerce sales are projected to triple from now to 2015 – which makes it a draw for all luxury brands. But it’s also so very different from western markets that it demands a whole new approach. That’s where the annual Digital IQ Index comes in, a detailed report by the L2 Think Tank that grades brands on their carefully crafted approach to social marketing and web presences for Chinese consumers.
Last year this Digital IQ report ranked three global companies as having “genius”-level marketing chops: Audi, Burberry, and BMW. This time around, four luxury brands get this accolade, led by cosmetics firm Estée Lauder.
The Guardian (blog) Social media is an underused opportunity for luxury brands The Guardian (blog) While almost all major brands now have a social media presence, social marketing in general seems curiously out of step with how consumers actually...
"Social media engagement has been a marketing buzzword for years now. Still, luxury brands remain the most reticent to join the conversation (case in point, a number of luxury brands like Rolex have yet to join Facebook and Twitter)..."
Estée Lauder and Lancôme are being lauded for their digital savvy in the beauty sector as the only two brands to receive a genius ranking on the L2 Think Tank Digital IQ Index: Beauty.
Runners up include Kiehl’s and Chanel. Brands such as Dior, Yves Saint Laurent and Giorgio Armani were listed in the average category, while Dolce & Gabbana needed to improve its presence on digital, per L2 Think Tank.
“The highest-ranking brands in our Index have a digital strategy that ties to their business objectives,” said Stasha Rosen, research lead at L2 Think Tank, New York. “In addition to robust ecommerce-driven sites, Gifted brands innovate across social, mobile and email marketing.
“The two Genius brands, Estée Lauder and Lancôme, are connecting content with commerce and engaging digital influencers,” Ms. Rosen said. “Ecommerce has given prestige beauty brands the opportunity for growth outside of traditional channels.”