Over the years, many luxury fashion brands have come and gone, with the majority enjoying a brief moment of favour before ultimately fading into obscurity. Cementing a name for yourself as a luxury brand is no easy feat, and it’s perhaps unsurprising that we’ve seen so many fails. However, capitalising on a passing trend isn’t enough to become a respected name that remains at the forefront of the affluent shopper’s psyche for the long haul or to become one of the most highly sought-after names in the world for generations – and there’s a lot that goes into getting the recipe right.
The foundation of any great luxury brand is having an excellent product – which means impeccable craftsmanship, quality materials, and durability, and offering items that are classic and timeless – or that reflect current trends. But while many new start-ups focus solely on getting the product right, this alone isn’t a strategy for success, and it isn’t enough to keep consumers and customers hooked.
Creating an element of scarcity is key, which means limited edition collections and one-off pieces are certain to generate the greatest level of interest. Of course, the affluent buyer doesn’t want to own something that everyone else has, too – but creating a sense of exclusivity and positioning a product as a highly coveted status symbol is a sure-fire way to win them over.
Heritage, too, is important, which is where newly launched luxury brands can find themselves struggling before they’ve begun. The most esteemed luxury brands of today are steeped in rich history and have been around for many years, focusing on storytelling along the way to keep customers engaged and selling them not just a product but a lifestyle.
Here, we take a look at three brands that have got the recipe for success just right, and with years of expertise behind them and the kind of staying power other luxury brands dream of, there’s little doubt that we’ll still be coveting them just as much in years to come.
Chanel
Premier French fashion house Chanel remains one of the biggest names in the global fashion landscape, having made a bold and lasting impression from the off. Founded in 1910 by Parisian designer Coco Chanel, who was orphaned at a young age and thus had rather a troubled start to life, from its humble beginnings, it has evolved into one of the biggest and most esteemed luxury fashion brands in the world.
Chanel has been hugely influential in women’s haute couture for over a century. By telling Coco’s compelling ‘rags to riches’ story, its marketing strategy has proved compelling enough to reel wealthy consumers and keep them engaged for the long term.
Rolex
Every Rolex watch is a masterpiece of engineering, and wearing one on your arm is considered an international status symbol that signifies wealth, success, and opulence.
The brand has always operated a selective and minimal marketing strategy that places it at only the most exclusive events, ensuring that it is always within the consciousness of its target market whilst creating a sense that it is a privilege reserved just for them – and it is this, amongst other things, that has kept the Rolex name on everybody’s lips for generations.
Diesel
After four exemplary decades in the fashion business, there’s no denying that Diesel is another name that we’ve come to know and love. Denim wasn’t always considered to be luxurious, and the road to how it is perceived today has been a tricky one – but Diesel, as a brand, has played a pivotal role in pioneering the off-duty, smart-casual look that many affluent individuals favour today.
A cult favourite of fashion aficionados, it has founder Renzo Rosso to thank for its success, who stitched his first pair of jeans in Italy in the 70s and has achieved world domination in the 40 years since. In 2022, authentic Diesel clothing for men and women is considered an essential part of any sartorial and luxury-loving individual’s wardrobe, and it’s likely to stay that way for many years to come.
