Week 12 in Luxury: Ghostbusters collaboration, Luxury brand strategies, and Pratesi’s unique store opening.
Welcome to Week 12 edition of "This Week in Luxury," where we’ll bring you the latest developments in the world of luxury.
In this week's roundup, we explore five intriguing stories that are shaping the luxury industry landscape.
1. Mercedes-Benz goes supernatural with ‘Ghostbusters’ collaboration.
Mercedes-Benz is making its mark in cinema with its Sprinter van featured as the Ecto-Z car in Sony Pictures' upcoming film, Ghostbusters: Frozen Empire. The collaboration includes a social media campaign revealing behind-the-scenes footage, highlighting the Sprinter's versatility in demanding situations, as expressed by Dennis McCarthy, founder of Vehicle Effects. The Ecto-Z, a modernized version of the iconic Ecto-1 car from the original Ghostbusters, showcases the Sprinter's adaptability as it aids the spirits-fighting team, paying homage to the 1980s classic while appealing to a new audience.
Read the full article here | Luxury Daily
2. Luxury Brand Strategy: Managing Exclusivity And Availability.
Consumers are feeling the pinch of rising prices across various sectors, impacting even budget-friendly brands like Target, while luxury brands face the paradox of maintaining exclusivity amidst global availability. This tension between accessibility and prestige poses a significant challenge for luxury businesses striving to satisfy consumer demand while preserving their elite image.
Read the full article here | Branding Strategy Insider
3. World’s only standalone Pratesi store now open.
Italian luxury linens brand Pratesi has recently opened its first standalone boutique in Palm Beach, Florida, offering a range of fine bedding, dining, and bath products. This move marks the brand's expansion beyond online and select international stores, bringing its renowned craftsmanship and designs to the luxury-loving community by the sea.
Read the full article here | Luxury Daily
4. Luxury Unfiltered: Luxury’s hidden value is what defines it.
The essence of luxury lies not in tangible aspects but in intangible qualities that create extreme value for individuals, defined as "extreme value creation." Over 90% of luxury's value is intrinsic, tied to emotional resonance and brand ethos, yet many luxury brands struggle to fully embrace these intangible assets. Challenges include a bias towards tangible metrics and a misconception that luxury status is self-sustaining, leading to a need for recalibration towards prioritizing emotional connections and recognizing luxury as a dynamic relationship rather than a static entity.
Read the full article here | Luxury Daily
That concludes this week's edition of "This Week in Luxury." Stay tuned for more updates on the world of luxury in the weeks to come.
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