Luxury is sometimes incredibly simple. The joy of natural silence with no traffic. A mattress that immediately says ‘instant sleep’. A simple artwork, like the one above on the staircase of Cannes’ Hotel Martinez, Unbound Collection. But when it comes to marketing its luxury, Girlahead dares to suggest that hospitality seems, sorry, a little bit mediaeval compared to fashion.
The vital briefing Business of Fashion and McKinsey have together identified a return from performance marketing to brand marketing. 71% of top fashion executives surveyed by McKinsey are planning to spend more on brand marketing than in 2023 – although it should be pointed out that after Louis Vuitton transformed Hong Kong’s Avenue of Stars a few months ago, sibling LVMH brand, Dior, led by its ceo Delphine Arnault and its travel-loving menswear creative director, Kim Jones, will be transforming part of Hong Kong Island on 23rd March (it was only a year ago that the pair hosted a Dior show at the pyramids, floodlit, symphony orchestra at full volume).
And it’s worth taking marketing seriously. McKinsey reckons that, fashion-wise, luxury will generally out-perform non-luxury in sales growth: USA 2-4% v. 0-2%; Europe 3-5% v. 1-3%; China both 4-6%. Top growth market in luxury will be Middle East, followed by India.