High-end brands don’t get launched in a day. Wait, don’t dismiss the idea so soon. Building a new high-end brand is hard work; yes, Rome wasn’t built in a day. But with the right mix of allure, mysticism and pricing power, a new brand can command both the respect and attention it will need to be identified as an iconic brand. To begin with, give conventional marketing tactics a rest. They don’t move the affluent. Study the niche clientele instead. How do they live, work, entertain and holiday?
How does your brand intend to resonate with them and their lifestyle? Don’t go solve a problem. Create an opportunity to discover and experience something new; something aspirational. What makes you peculiar? What strange quality of your brand can incite a sense of belonging in your clientele? Embrace that quality, the weirdness, the wow-factor, and sell that to your audience. Luxury consumers love an authentic story. Don’t be afraid to say ‘no’; don’t buckle under the pressure of offering discounts or meeting mass demand. What really earns the respect of luxury consumers is the scarcity and exclusivity of high-end brands that stay true to their elite pricing strategy. You might lose a couple of customers, but you’ll gain immense respect. With the status of being a luxury brand comes the steadfast promise of meeting superior quality expectations. This permeates not only through the product but also through your product experts on the sales floor, the team from the branding agency, curators in the marketing office, your suppliers, your collaborations, and your partnerships. Be consistent and classy from start to finish.
