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Luxury Industry

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Luxury advertisers often favor luxury magazines and high-end lifestyle media to target their affluent consumers with their advertising campaigns. Selecting the right publication to launch a marketing campaign can, however, be sometimes complicated. This is especially true for premium and luxury brands who have to carefully consider the context in which their products will appear. To help luxury advertisers select the right media mix, Luxe Digital recently published a comprehensive review of the best luxury magazines for advertisers to launch their marketing campaigns. This is the ultimate list of affluent magazines for marketing professionals. This first ranking focuses on Southeast Asian publications to target affluent consumers and high-net-worth individuals (HNWIs) in Asia. From Singapore to Malaysia, Indonesia, Thailand, Vietnam, Macao, and Hong Kong, these are the best luxury magazines to plan the optimal marketing campaign and reach an affluent audience in the region. The online versions of luxury lifestyle magazines…

With the holidays season fast approaching, luxury travel and hospitality brands are ramping up their marketing efforts. With most affluent travellers now researching, planning and booking their holidays online, it is essential for luxury brands to be present at the right time if they want to attract potential visitors. The online customer journey provides indeed luxury travel brands with new avenues to engage their consumers across devices and channels. Mobile and social media, in particular, are playing an increasingly important role in the decision process of wealthy travellers. Tourists will browse through their Instagram feed and seek recommendations from their friends and trusted social media influencers to find inspirations on where to go. In addition, younger affluent travellers are looking for original and authentic travel experiences. They want to explore new locations and experience different types of vacations. These changes provide luxury brands with new opportunities to inspire and influence…

The total revenue generated by in the travel and hospitality industry by tourists from China continues to grow in 2018. The United Nations World Tourism Organization (UNWTO) estimates that spending from Chinese tourists overseas now represents 21% of the global tourism spending. Interestingly, Chinese traveller spends on average more per person per trip than tourists from any other country in the world. source: Luxe Digital The impact of Chinese tourists on the luxury industry is thus remarkable. Hotels, restaurants and retailers all need to adjust their offering if they want to attract these new consumers. In a new report, Luxe Digital identifies four essential trends that are reshaping the luxury Chinese tourism abroad. Luxury brands and marketing leaders need to understand these new trends of they want to attract and engage with their Chinese consumers. Four critical trends shaping the Chinese tourism segment First, the profile of the Chinese traveller…

Affluent Millennials are the luxury industry’s most covered consumers target as their contribution to global luxury sales increased to 30 percent last year. More importantly, Millennials and Gen Z consumers drove 85 percent of the luxury growth in 2017 according to research group Bain & Company. In fact, Millennial consumers are expected to surpassed Baby Boomers as the largest consumer segments in the United States by 2019. The Pew Research Centre found indeed that the “Millennial generation continues to grow as young immigrants expand its ranks. Boomers – whose generation was defined by the boom in U.S. births following World War II – are ageing and their numbers shrinking in size as the number of deaths among them exceeds the number of older immigrants arriving in the country.” 4 tips for premium brands marketing to Millennials Luxury marketers are therefore focusing their attention on understanding and winning over the Millennials…

Luxury watches are making a comeback in 2018, driven by affluent Millennials shoppers. We’ve already talked about the Millennials appetite for authenticity when travelling. A similar trend can be seen in the luxury watch industry as well. A recent survey from Deloitte found that Millennial consumers are still very much interested in buying high-end Swiss watches. The research shows that Millennials would indeed prefer a luxury watch over a digital smartwatch if given CHF 5,000 to spend on a gift. High-end watch manufacturers need however to understand that the younger generation of watch buyers are not on the market for old and traditional watches. Millennial consumers are indeed looking for simplicity, personalisation and transparency when choosing their timepiece. A new report from Luxe Digital finds that luxury watch brands are focusing on new design and improving their online presence to drive growth in 2018. Vintage-inspired designs and online collaborations with…

LUXBA Group, Hong Kong’s leading luxury fashion brand management and distribution house, recently announced a new collaboration with Italian luxury footwear label Sergio Rossi. The new partnership focuses on accelerating Sergio Rossi’s growth in the complex China market, while also strengthening LUXBA Group’s presence in the fashion industry. Luxury brands associated with LUXBA gain invaluable insights on how Chinese millennials and Gen Z’s consume, and what they desire in luxury brands. Founded by entrepreneur Adrian Cheng in 2007, LUXBA Group is an all-encompassing fashion, lifestyle, brand management, and distribution company based in Hong Kong and Shanghai. The new collaboration allows Sergio Rossi to leverage LUXBA Group’s unique expertise to penetrate the retail industry as it reaches the Chinese millennial and Gen Z audience. “I’m thrilled to be working with the Italian luxury brand Sergio Rossi and offering our sprawling network to further its growth in China,” said Adrian Cheng, founder…

The Foundation of the Grand Prix d’Horlogerie de Genève has enlisted the services of an experienced figure. Raymond Loretan, the new President of the Foundation, took up his position in January 2018. He wishes to continue developing this institution on both national and international levels and to impart fresh momentum. While guaranteeing the strict independence and neutrality of the Grand Prix, he believes the Foundation must explore new modes of cooperation to ensure its sustainability and to continue promoting the reputation of the watch industry both within Switzerland and worldwide. Raymond Loretan succeeded Carlo Lamprecht, who had chaired the Foundation since its creation in 2011. Carlo Lamprecht served the GPHG with energy and dedication, alongside the Director of the Foundation, Carine Maillard. After seven years in this role, he expressed a wish to step down in order to devote more time to other activities. The Board of the Foundation expresses…

Alexander Chetchikov, Founder and CEO of the Luxury Lifestyle Awards, recently sat down with Luxe Digital to discuss the history behind the prestigious awards and the digital transformation that he’s driving for the company. With a degree in marketing and communication, Alexander worked in the luxury industry for the past 10 years. He helped brands such as Visa, Intercontinental Hotel, and Pernod Ricard reach and connect with their affluent consumers. Having lived and travelled across multiple countries, Alexander’s professional network spans across Europe, the United States, the Middle East, and Asia. He now helps luxury brands by mobilising his network to influence and promote his clients’ brands online. The Luxury Lifestyle Awards is the first and only international awards organisation dedicated exclusively to celebrating excellence in luxury goods and services. The awards initially started as an offline ceremony, but is now becoming purely digital. Indeed, the platform aims at celebrating…

Millennials are transforming the luxury travel and hospitality industry. Younger travellers are indeed seeking authentic travel experiences and shareable adventures when planning vacations abroad. According to recent research by the Boston Consulting Group, Millennials are 23 percent more likely to travel abroad than older generations and they already make up 20 percent of all global travellers. As a result, luxury hotels and travel agents need to find new ways to engage with the new generation of travellers. Authenticity and shareability are key to win Millennial travellers Millennials are inspired by stories of authenticity and truthfulness they see on social media. They want to experience traditions of the country they visit. Hotels who embrace values of environmental sustainability and social responsibility are also able to convey an essential sentiment of authenticity that younger travellers greatly value. In parallel, Millennials want to be able to share their experience abroad with their friends…

Did you know that 72 percent of consumers’ purchase decisions are influenced by what they see on Instagram? With 800 million active users, Instagram is indeed becoming the most important social platform for luxury brands to engage with their consumers. Research group L2 found that there was a 53% growth in 2017 alone for the luxury fashion sector on Instagram. Social commerce is on the rise and the mobile app is now a serious sales channel for brands. A recent report by Luxe Digital shows indeed that Instagram is the best platform to target affluent women shoppers. With the backdrop of Facebook announcing earlier this year new changes to its News Feed algorithm to favour friends’ content, brands are less likely to appear on their followers feed. These changes have helped other social media platforms, Instagram in particular, to emerge as the new home for brands seeking engagement online. Instagram’s…

Luxury brands used to consider e-commerce as a channel reserved for selling low to mid-range luxury goods. Selling online was indeed perceived as being inappropriate for a luxury company. High-end items were thus reserved for the boutique stores. Luxury brands affirmed that affluent customers wouldn’t spend more than a certain amount for a luxury good online. Indeed, wouldn’t luxury shoppers always prefer a personalised customer service and tactile shopping experience? That assumption is now being challenged. By 2025, one-fifth of luxury sales will take place online Net-A-Porter and Farfetch have successfully demonstrated that luxury consumers are willing to purchase high-end goods online at full retail price. In parallel, digital is increasingly influencing how consumers make their purchase decisions. Research by McKinsey found that at least 40 percent of all luxury purchases are in some way influenced by a consumer online experience. Millennials and Generation Z consumers drive 85% of luxury…

New media Luxe Digital launches to help luxury professionals understand how digital is transforming their business. Readers will learn how to stay relevant in a digital and mobile world to reach affluent Millennials and Generation Z consumers. $1.42 trillion global luxury market remains one of the slowest industry to adopt digital. New digital-first brands have burst onto the scene and are taking market shares from established companies such as Louis Vuitton, Rolex, and Chanel. Traditional luxury brands struggle to connect with their affluent Millennials and Generation Z consumers who account for a growing share of luxury spending. This is particularly true on mobile and social media. New media publication Luxe Digital is helping luxury and marketing professionals navigate the digital transformation of their industry. “I’m thrilled to launch Luxe Digital and take luxury leaders through a journey of digital innovation and empowerment.” says Florine Eppe Beauloye, Co-Founder and Editor-in-chief of…

LUXURY EXPERT GUEST CONTRIBUTOR  David Nickel Why do we need to use branding? Products or services can be made attractive in multiple ways- branding is the secret language of luxury and most important. Good design, effective marketing, and inventive public relations campaigns can propel an average concept into the range of premium pricing. But how do you take a premium product and make it so attractive in the long term that people are willing to pay insane amounts of money for it? The answer is luxury branding. What can branding do for a luxury product or service? Even when service, quality, and design are in place, correct luxury branding adds true magic to the whole offering. It gives it’s product or service range character, uniqueness, and long-term connection. Without it, an aura of luxury lifestyle consumption can never be established with enough credibility to make it sell. To express it…

Reverencieuse Paris, “The Tasting Sphere” The setting is perfect, the food is prepared, the atmosphere and lighting is aglow, setting a romantic mood for a luxurious moment to indulge in champagne and caviar. This moment is elevated to new heights with the inclusion of the ever elegant creation of Reverencieuse. Founder Sébastien Woirin took his love for wines, spirits, gastronomy, craftsmanship, history of France and turned it into an incredible, beautiful, functional, revolutionary experience for Champagne and caviar. The traditional serving tray is turned on its head with the idea of a sphere; a piece of art and a noble presentation of such finery. The intent was to highlight as well as protect the wine, glasses and caviar and sure to enhance the tasting experience. The result, is a fully stylish and functional statement piece, made in Paris, that is at home in any fine residence, yacht, jet and hotel.…

The entrepreneur and business innovator, Adrian Cheng has made a significant investment in Moda Operandi – the only online luxury fashion retailer to provide consumers access to collections straight from the runway. The injection of capital is led by Cheng through his two investment vehicles, K11 Investment and C Ventures. The latter is a new investment fund launched in October 2017 to build a global ecosystem of Millennial and Generation Z-focused brands and platforms. The investment in Moda Operandi plays into Cheng’s wider vision to unite culture-orientated brands into a powerful portfolio that connects the worlds of fashion, art, and creative media, to service the demands of next-generation consumers. Cheng’s investment comes at a time when the Chinese consumer market is transforming. The emergence of the BAT Generation (the millennial and Gen Z generations shaped by the three Chinese Internet and E-commerce giants, Baidu, Alibaba and Tencent) has created a…