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| Louis Vuitton |
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| MIU MIU |
As I mentioned previous post about luxury fashion brand, it is not easy to build successful brand. Being successful luxury fashion might not be easy path to reach this goal with the increasing of market growth and competitive pressure,so many luxury fashion brands in the market try to keep the their position and expand their customer base.
Bernard Arnault, the chief executive officer (CEO) Of LVMH mentioned that the corporate identity, culture, and spirit are crucial to show creative excellence for luxury brand development (Fionda and Moore, 2009).
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| Valentino |
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| MIU MIU |
Phau and Phendergast (2000) also claimed that the significant element of luxury brand consist of recognized brand identity, quality, exclusivity and customer awareness
I agree with the statement above because in my opinion the successful brand starts from having clear brand identity, however there are many more elementary which are important to create the successful luxury brand. then I pick Okonkwo’s model, this model
point out 10 core characteristics to be as successful luxury fashion brand
which are composed of.
(1) distinct brand identity
(2) global reputation
(3)
emotional appeal
(4) innovative or unique product
(5) consistent delivery of
premium quality
(6) heritage of craftsmanship
(7) premium price
(8)
exclusive in goods production
(9) high visibility
(10)tightly controlled
distribution. (Fionda and Moore, 2009)
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