The Anatomy of the Luxury Fashion Brand

The Anatomy of the Luxury Fashion Brand
The article explores the important approaches required to develop and sustain the growth of a prestigious fashion brand. The most requirement for the end products is the luxury products market which is important due to its market value and also its growth rate. The markets growth rate has been attributed to various reasons, for example, the upsurge in the number of rich people who purchase the luxury brand products (Fionda, 2009). Due to the increase of customers for the products, the manufacturers have established new commercial plans that aim to enhance their services by increasing the accessibility via the expansion of their physical coverage and the marketplace approachability. There are four main groups of the luxury products, which include fashion, colognes and make-ups, wines and spirits and jewelry (Jackson, 2004). However, this article concentrates wholly on the luxury fashion products group. The emphasis of this article is reasonable because the fashion group accounts the largest proportion of the luxury products and also the marketing approaches for this products is complex and costly.
In the current years, there has been developed a robust feature of literature that tries to clarify the luxury purchases mostly regarding having a figurative meaning that functions at a personal and mutual level. Using the commodity perspective, prestigious brands are explained with regards to their outstanding feature, high transactional value, and their artistry (Moore, 2005).

There are various key features that are used to define a prestigious fashion brand. The most important characteristic of a prestigious fashion product is the brand name, which should be clear and relevant. Together with the idea of the brand name, other important aspects should be considered for developing a luxury brand, for example, the product design, innovative and the product uniqueness. Another crucial characteristic for the luxury products is the environment and services the goods offer (Chevalier, 2008). In order to build a powerful luxury brand image, effective marketing strategies must be employed. For example, appropriate promotion can offer assistant in expanding the brand image. Lastly, the company’s spirit is believed to be a key factor in the growth of a prestigious fashion brand.
In the article, the study was done to categorize the proportions of the prestigious fashion products and portray within a framework. The research employed the qualitative case study methodology, as it was suggested to be investigative theory building tactic. The study entirely focused on the British luxury brands due to the access of limitations. Various questions were directed to the companies, and they emphasized on the roots of the brands, features that differentiate the company brands, the marketing plans, and the distribution policies. After, the research was concluded various dimensions that are necessary for the growth of a luxury fashion brand were identified. The first main proportion recognized was the perfect brand identity that is paramount for any company to succeed (Twitchell, 2004). The second important component is the marketing communications, which denotes to the various techniques used to develop awareness (Brooke, 2004). The significance of price was also evidently recognized in the study, particularly in all the companies.
In conclusion, the research has recognized a practical created model and the components which are symbiotic and unified. Each of the aforementioned elements in the paper is regarded as vital in the development of a prestigious fashion brand. This is because each of the components adds to the prestigious brand image and positioning. The components must be achieved simultaneously to develop and sustain a prestigious fashion brand positioning.
References
Fionda, A. & Moore, C. J Brand Manag (2009) 16: 347. doi:10.1057/bm.2008.45
Jackson, T. and Shaw, D. (2004) the Fashion Handbook. Oxon: Routledge Taylor Francis Group
Moore, C. M. and Birtwistle, G. (2005) The Burberry business model: Creating an international luxury fashion brand. International Journal of Retail & Distribution Management 32 (8): 412–422.
Chevalier, M. and Mazzalovo, G. (2008) Luxury Brand Management: A World of Privilege. Singapore: Wiley and Sons.
Brooke, S. (2004) Luxuries ain’t what they used to be. Now the high street is full of designer’s labels and glittering prices, does anything count as exclusive. The Daily Telegraph, London: 17 January, p. 4.
Twitchell, J. B. (2002) Living it Up: Our Love Affair with Luxury. New York: Columbia University Press.