Tom Larance’s Post

𝐓𝐡𝐞 𝐏𝐨𝐰𝐞𝐫 𝐨𝐟 𝐏𝐞𝐫𝐜𝐞𝐩𝐭𝐢𝐨𝐧: 𝐖𝐡𝐲 𝐋𝐮𝐱𝐮𝐫𝐲 𝐁𝐚𝐠𝐬 𝐂𝐚𝐧 𝐂𝐨𝐬𝐭 𝐒𝐨 𝐌𝐮𝐜𝐡. Have you ever wondered how a handbag can cost thousands of dollars, even though the materials and production might seem relatively inexpensive? The recent discussions surrounding Christian Dior highlight the impactful role branding plays in luxury pricing strategies. Here are my thoughts summarized in 3 points: Strong Brands Command Premium Prices: Brands like Christian Dior command premium prices due to their established reputation and perceived value. Brand Differentiation and Positioning: Dior's exclusivity, heritage, and unique design justify a higher price point. Customer Loyalty: Loyal customers value the brand experience and are willing to pay a premium. In conclusion, a brand's image plays a significant role in justifying luxury pricing. By cultivating a powerful brand identity, companies can create a perception of value that goes far beyond the tangible materials and production costs.  What are your thoughts? I would love to read them. #Marketingstrategist #LuxuryBranding #BrandPerception #LuxuryPricing #BrandEquity #CustomerLoyalty #MarketingStrategy #BrandDifferentiation #PremiumPricing #Pricingstrategy

It is normal that luxury goods are costly!It is the same like a service: as employer you invest in your employees: training,higher wages and so on!The same luxury goods are using the best for their produscts and the best is always higher in price!☝️It is a reality.You don’t buy a brand but quality! So,yes ,the final price reflects the quality of that specific luxury product! You as a customer have options: to choose the best or basic!☝️ My advice to my customers is to choose the best!☝️

👜✨ The Power of Branding: Dior ✨👜 Recently, an investigation revealed that Dior paid only $57 to produce handbags that retail for about $2,800. This stark contrast highlights the immense power of branding. 🌟 In the luxury world, what you're paying for isn't just the product—it's the name on the label, the prestige, and the status it confers. 🏷️🔝 The meticulous branding, marketing, and heritage associated with these items elevate their value far beyond the cost of production. This is a reminder of how brands can transform everyday items into coveted symbols of luxury and exclusivity. It's not just a bag; it's a statement. 💼💬 #Branding #LuxuryFashion #Dior #MarketingPower

The Real Cost of Luxury: Unveiling the Truth Behind High-End Pricing Have you ever wondered why luxury goods come with such hefty price tags? It’s a question many of us have pondered. Take Dior, for example. Their $2,000 bags actually cost only $57 to make. The real cost lies in their branding and marketing efforts, which create an aura of exclusivity and prestige around their products. It’s important to note that luxury brands like Dior do use higher-quality materials, but the bulk of what you’re paying for is the brand name and the story behind it. Interestingly, these brands often outsource labor to cut costs, which has led to legal troubles for some. Dior, among others, has faced scrutiny for using shady third-party facilities that underpay their workers. This practice underscores the fact that you’re often paying for the brand’s image more than the product itself. In my latest video, I dive into the details of how these price tags are constructed and what you’re truly paying for when you buy luxury items. Watch the video and let me know your thoughts! Would you like to uncover the real prices behind other luxury items? Drop your suggestions in the comments below. #LuxuryRevealed #TransparentPricing #CreaseGroup #Branding #LuxuryGoods #CostAnalysis #Marketing

Dior's Pricing Strategy: A Case Study in Luxury Branding I recently came across an intriguing report about Dior's pricing strategy that I'd love to share and discuss with my network. It highlights how Dior purchases products at around ₹4,700 and sells them at over ₹2 lakh. This significant markup raises questions about the dynamics of luxury branding and the perceived value of high-end products. Key Points to Consider: 1. Brand Value and Exclusivity: Dior's brand carries immense prestige, which justifies a higher price point. The luxury market thrives on exclusivity and the allure of owning something few can afford. 2. Cost of Quality and Craftsmanship: The cost of raw materials is only a fraction of the total expense. The meticulous craftsmanship, design innovation, and quality control add substantial value. 3. Marketing and Distribution Costs: High-end marketing campaigns, celebrity endorsements, and exclusive retail locations also contribute to the final price. Discussion Points: - How do luxury brands balance cost and perceived value? - What are the implications of such pricing strategies on consumer behavior? - Can similar strategies be applied in other sectors to create a premium brand image? I'd love to hear your thoughts and insights on this topic. Let's dive into the world of luxury branding and discuss the elements that make it so fascinating! #LuxuryBranding #Dior #BusinessStrategy #MarketingInsights #ConsumerBehavior

LVMH's Power Move: Benedetta Petruzzo Joins Christian Dior Couture's Executive Committee In the ever-evolving chess game of luxury fashion, LVMH has just made a brilliant move. Benedetta Petruzzo, fresh from her triumphs at Miu Miu, is set to join Christian Dior Couture as Managing Director, effective October 15, 2024. As an ex headhunter, I am absolutely delighted with this appointment for the following reasons Track Record of Success: Under her leadership, Miu Miu nearly doubled revenues in H1 2024. She did this publicly and under scrutiny. That's the kind of growth that turns heads. Viral Product Strategy: From micro miniskirts to crystal briefs, Petruzzo knows how to create buzz-worthy products. Balancing Act: Her ability to blend viral trends with wearable classics is exactly what Dior needs in today's market. Soft Landing Strategy: With Dior coming off a period of rapid growth, Petruzzo's expertise could be key in navigating a slowing luxury market. Talent War Heats Up: This move highlights the fierce competition for top talent in luxury, especially as growth slows. The big question: Can Petruzzo work her magic on Dior's €10 billion empire? YES SHE CAN! And what does this mean for the wider luxury landscape? As I discuss in my soon to be released book "The Luxpreneur: How to Start and Build a Successful Luxury Brand," the ability to innovate while respecting heritage is crucial in luxury. Petruzzo's appointment suggests Dior is doubling down on this strategy and I love it for them! What's your take on this luxury chess move? #Luxpreneur #Dior #LuxuryStrategy #FashionLeadership #DiorFuture #TheLuxpreneur https://lnkd.in/e4ghzaKN

🚀 Unlock the Power of Iconic Branding! 🚀 Ever wondered how Dior, Chanel, and other luxury giants create irresistible allure? It’s all in their logos! 🌟👜✨ These timeless symbols do more than represent fashion—they build emotional connections and evoke a sense of prestige. Each logo tells a story, inviting you into a world of elegance and exclusivity. 👑 Curious to see how these icons can elevate your style? Tap the link below and discover the magic of luxury branding firsthand . . #branding #socialmedia #newcreation #DigitalMarketing #MarketingStrategy #socialmediamarketing #intrestingreels #swvdm #intrestingfacts

Let me ask a question: when shopping for luxury goods, 🗼do you prioritize quality and craftsmanship, or 🚘 do you lean towards the allure of a well-known brand? Recent investigations have shed light on the production costs of high-end fashion houses like Dior and Giorgio Armani. Shockingly, Dior paid a mere $57 to manufacture handbags that retail for around $2,780. This raises an intriguing debate: are you investing in top-notch quality or simply paying for the prestige of the brand name? This rather talks about consumer psychology, do we want emotional satisfaction with aspirations towards brand or we really want a good quality product. #LuxuryGoods #QualityVsBrand #consumerpsychology #FashionIndustry #LuxuryFashion #ConsumerChoice #sales #marketing #consumermarketing https://lnkd.in/gFTj8XNx

The Secret Behind Iconic Luxury: How Gucci and Tiffany & Co Mastered Storytelling Luxury is more than a product, it’s a feeling, a connection, and a story that resonates deeply. So, how do brands like Gucci and Tiffany & Co turn legacy into relevance and sales? It’s not enough to rely on prestige or craftsmanship alone. Today’s luxury buyer wants more, a personal connection to the story behind the brand. 1. Gucci: Heritage Meets Modernity Gucci’s transformation into a cultural icon lies in its storytelling. By revisiting its Italian roots and blending them with contemporary themes, like inclusivity and pop culture, Gucci created campaigns that felt both timeless and fresh. Collaborations with modern icons like Harry Styles helped translate its heritage into the language of today’s audience. 2. Tiffany & Co: "Not Your Mother’s Diamond" With their Not Your Mother’s Diamond campaign, Tiffany didn’t just sell jewellery—they challenged norms. By crafting a narrative that spoke directly to younger generations, the brand connected its classic legacy to modern love stories, increasing its appeal and sales. How to Apply This to Your Brand · Know Your Roots: Dive into the essence of your brand and let your history shine. · Connect Emotionally: Tell stories that align with your audience’s desires and values. · Balance Tradition and Innovation: Promote your heritage while staying culturally relevant. Storytelling isn’t just for the big players. Every brand has a story waiting to be told. What’s yours? Let’s collaborate and create narratives that captivate, inspire, and convert. Drop your thoughts below or message me, and we’ll craft your next success story together. 

Lessons for Gucci from CHANEL: Experience Comes Before Impressions. In Shanghai's spring relay of luxury pop-ups, feedback has been bipolar as Chanel enchanted while Gucci faced backlash. 🔍 Quick Event Stats Comparison: ·     Weibo Views: Gucci Ancora 188M vs. Chanel Nuit Blanche 22M ·     Efficiency on Red: Gucci 119 vs. Chanel 51 engagements per post ·     DORIS Sentiment Radar: Gucci's pop-up received 52% positive feedback, overshadowed by Chanel's staggering 94%. 🔻 Where Gucci Missed the Mark: -      Inattentive staff -      Shortage of gifts -      Long waits for a small exhibit -      Lackluster interior design without a photogenic backdrop 🔺 Chanel's Masterstrokes: -      A seamless WeChat booking system that whisked guests past queues -      Generous welcome packs and samples made every attendee feel special -      Diverse photogenic settings sparked exploration and UGC content -      Makeup classes and hand care services elevated experience -      A cleverly placed "supermarket" of Chanel merchandise tied the journey together, encouraging purchasing behavior It’s evident that Gucci’s strategy leaned heavily on celebrity clout, perhaps at the expense of thoughtful event design and execution. Chanel, conversely, wove magic into the details, prioritizing an immersive an­d rewarding guest experience. 💡 As experience becomes an increasingly integral part of personal luxury, can luxury brands' expertise evolve quickly to stay competitive? #LuxuryBranding #EventMarketing #BrandExperience #GucciAncora #ChanelNuitBlanche #ChinaMarketing #ChinaLuxuryFashion