Posted by Dale Buss on May 8, 2013 03:36 PM
Planned scarcity is a classic marketing trick for high-end goods. And if luxury fare isn't just difficult enough to get, then many of the most discriminating consumers don't want it anyway.
Ferrari's vehicles have been relatively inattainable forever largely by dint of their six-figure pricetags (and the brand unveiled a new, $1.3 million LaFerrari hybrid model at the Geneva auto show in March). But now Ferrari wants to make its goods even more exclusive by beginning to limit production. It's hoping a new tie-in with Apple will boost Ferrari's rarefied cachet even more.
The company plans to scale back sales to fewer than 7,000 vehicles this year to "maintain the exclusivity" of the brand. Ferrari sold 7,318 cars last year, and revenues so far this year have grown by about 4 percent over a year earlier.Continue reading...
Posted by Barry Silverstein on June 21, 2012 12:09 PM
Maybe we haven't seen the return of the roaring global recovery everyone has hoped for. The U.S. economy is sputtering, and the European continent isn't looking very bullish at the moment. But none of this seems to be terribly concerning to the luxury hotel market. There has been a spate of recent openings — hotel extensions of luxury brands — to prove it.
Bulgari, which operates a luxury hotel in Milan, a luxury resort in Bali, and restaurants in Tokyo, has just opened the doors of its fourth Bulgari Hotel, with its latest five-star property opening in a chi-chi pocket of London.
Located in the city's prestigious Knightsbridge section, its well appointed rooms (such as the one above) are opening just in time to take bookings for the London 2012 Olympic Games. Bulgari gushes about the property: "It is a perfect expression of the Bulgari aesthetic of timeless glamour. Innovative artistry and a lavish use of precious marble and silver blend harmoniously, exuding an understated elegance. The quality of the service, magnificent elements such as the spa, pool and private screening room, and the distinguished location beside Harrods and Hyde Park all contribute to an uncompromising sense of excellence."Continue reading...
Posted by Shirley Brady on June 5, 2012 06:57 PM
"I believe excellence has a lot to do with being able to really anticipate customers' needs, and to then transform that deep understanding into the basis for an impeccable execution in terms of service.This, along with quality and distinctiveness, is what luxury should ultimately be about.
Now more than ever before, luxury means self-indulgence and self-reward. And this can be embodied by a made-to-order item or by an absolutely exclusive service or treatment. Luxury has gained a more individual significance, ideally allowing us to choose his, or her, own meaning and way of experiencing it: and that can be interpreted as a desirable item as well as a state of extreme comfort."
— Francesco Trapani, CEO Bulgari, from an interview by Manfredi Ricca and Rebecca Robins featured in their new book, Meta-luxury: Brands and the Culture of Excellence, now available in the U.S. from Palgrave Macmillan