What Is A Luxury Brand?

One of the top questions I get is Karen…what is a luxury brand? It’s not that they aren’t aware of luxury brands, but they want to understand. What makes a brand luxury?

We all know the infamous luxury brands that have dominated for years. The Yves St Laurent, Chanel, Cartier, etc.

But what if you aren’t a powerhouse fashion brand? Can you still be a luxury brand? Are luxury brands pretentious? Let’s answer those questions in today’s episode!

I would guess that most people when they think of a luxury brand. Think of some high luxe brand that is super expensive and only certain people can access. While that part is true for some brands. A true luxury brand is really about crafting a well-intentioned experience.

One that is surrounded by a common belief or appreciation for classic, rarity, craftsmanship & quality.

Now does that mean you’ll find intricate crests and gold everywhere in a luxury brand? No, not necessarily.

For me, when I think of luxury, I view it more as simplicity with an appreciation for quality. This is also the case when you think of modern luxury. It’s simple, but the details matter, it’s not about being trendy.

Luxury has always been a part of my life. I’m a May baby with an earth sign that landed me in the Taurus vicinity. If you know anything about Tauruses, they appreciate all beauty. From the relationships, we cherish to the products and experiences we invest in.

Before I make an investment in most cases, I assess the quality before the price. I’m not about buying things that need to be frequently repurchased. That outside typical essential, for me that is a waste when I can invest in things that are more long term.

The same is extended to those I care about. I value deep & more meaningful relationships with those I care about. Over more superficial or surface-level relationships.

So let’s go over some characteristics of a luxury brand

Characteristics Of A Luxury Brand

Intended Purpose

Most luxury brands have an intended purpose of why they exist. Usually to serve a particular type of group of like-minded people. Usually, they are able to pull interested parties together into their brand by certain values or beliefs. Most of the time it’s an understated belief.

Cares About Quality

We live in a “now culture” world and sometimes there is a sacrifice to quality. Take, for example, fast fashion, the quality simply isn’t there. Which results in less wearability and a reduction in quality. Luxury brands on the other hand tend to take their time to craft something that withstands. They don’t sacrifice quality for quantity.

People who invest in quality items tend to value them at a higher standard. Think about any quality items you have at home. Do you just leave them anywhere? Do you treat them the same as the other items in your home?

Exclusivity

Made for a certain type of customer, but not everyone. Most business owners, especially newer brands, want to be for everyone. You can be specific and inclusive, but you need to have a clear type of customer you are creating products for & why. Customers will naturally self-select themselves out of your brand if it doesn’t speak to them. It does not mean you would never serve them. It’s just that your brand may not tug at their heart, and that is perfectly fine.

Community

Nothing amplifies a brand and/or business more than a community. A community of like-valued individuals who feel connected. Luxury brands tend to have some form of community. People become brand loyal and really stand by the brand. The community often has similar interests, tastes, and values. Plus, they may also enjoy similar brands. For example, one of my favorite top stationery & planning brands is Cloth & Paper. They create simple yet refined planning stationery that is luxurious. The community often shares like-minded styles and preferences in products. You also won’t find in this community overly stickered planners and super bright colors and tones.

Experience

This is one of the ultimate qualifiers for a luxury brand is the experience. From the first touch-point down to the last touch-point. Each interaction is planned to flow within a certain experience. Think about how you digitally greet your own customers? Do they feel special when they engage with your business? Do they feel like “this is me”? This is the type of experience I’m looking for.

We’ve all had that moment when you just saw something and instantly knew. Yes, I have to buy that because “it’s soo me”.

That’s the type of experience you should strive for when creating your online experience. One that inspires your customers to take action, put it in the cart, and purchase.

The best way to do that is by designing an experience that creates those results. This leads me to my other point about luxury brands.

Your Audience Has to Agree That Your Are A Luxury Brand

Yes, your audience has to be on the same page that you are a luxury brand. If they aren’t but you feel as though you are, there is a disconnect with your brand message and appearance.

You can influence an audience’s perception of your business through different elements. Such as:

• Your brand voice and tone
• The way your brand/business is positioned in the market
• Your overall message
• Your luxury brand identity.

If you ever felt some sort of disconnect or a need to really create a distinction in your business. I can almost guarantee that you didn’t perform a proper brand strategy for your business.

Most people love to dive into the tangible elements of their business. You know the logo, colors, typography, website, etc. But they skip right past the strategy for why their brand exists and why it’s different from all the other similar brands.

When you have a clearly defined strategy for your luxury brand. You’ll know:

• Who you are serving and why?
• What makes you different?
• What are your strengths are
• You’ll know how to clearly market to your ideal customers

Hopefully, that makes sense. Strategy can sometimes seem like a scary word, especially when you’re overwhelmed with all that is on your plate.

Curious about how you can craft your own luxury brand strategy? A strategy that gives you the plan to craft a premium experience that converts. Head over to themaycreative.com to learn more about the signature experience that helps you craft your profitable strategy.

Hopefully, today’s episode added a bit of clarity on what a luxury brand is or could be. Overall, it’s about crafting a well-thought-out experience that your customers adore. It’s the extra element to their day, and it doesn’t have to be over the top. Also, your products and service must match up otherwise you’ll create friction.