Building Successful Luxury Fashion Brand

                                        

Louis Vuitton 

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).

Valentino

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) 

pictures from style.com

Luxury Fashion Brand

Not an easy to build successful brand,  Chanel is the one of successful luxury fashion brand which Chanel bag is iconic item which women all over the word desire.

As Chernatony and Mcdonald (2003) demonstrated  "A successful brand is an identifiable product, service, person or place augmented in such a way that the buyer or user perceives relevant, unique added values which match their need most closely."

However, recently there are many luxury fashion brands in the market , so the  firms need to find the branding strategies to maintain their brand reputation.

   

                       

               Alexander McQueen                                                    LANVIN 

                         







                                                                       Photo Collage from Shopstyle.co.uk and Style.com




Fionda and Moore (2009) stated that within the luxury proposition, the concept of the brand especially the brand name and identity, which is considered as fundamental.