Thursday, 7 October 2010

Luxury And Brand Behaviour: Proactive Or Reactive? 7/10/10

We recently commented on the relative reluctance of luxury brands to embrace the Internet. Online shopping and online marketing have been embraced with open arms by many other industries. Luxury has been sceptical. In a sense, this is incongruent with their usual position at the forefront of innovation. They are masters of reinvention and rejuvenation.

Underlying every marketing strategy employed by luxury brands is the maintenance of their legacy- the purity of their message and their communication with a specific audience. It may seem harsh, but luxury isn’t a commodity. It’s not for everyone. This said, everyone has their own interpretation of luxury, and this is beyond the control of marketers.

Some luxury brands are being left behind in the race to reinvent and remain relevant, whilst others have forged ahead. It is interesting to note that brands such as Chanel under Karl Lagerfeld, who have embraced technology and changes in social interaction (think online coverage of runway shows), seem to be managing their raison d’etre seamlessly. They say in fashion that everyone ‘has their moment’ but some have faded faster than others.

It is essential to survival that brands appreciate how their audiences change. It is important to consider future markets, and generations to come. Brands that remain static will be buried.

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Who's behind the MO DOWN

Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,