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7-Eleven Selling Luxury Items in Korea

Posted by Mark J. Miller on December 19, 2011 10:07 AM

Residents of Korea are moving on up and want a piece of the pie. And 7-Eleven would like to help them out.

The luxury goods market is booming in Korea, with sales growing “at least 12% to an estimated $4.5 million last year, according to a report by McKinsey & Company in August,” the Wall Street Journal reports.

With that kind of money floating around, everybody is getting into the act of selling luxury goods, even places that you don’t generally associate with such things, like 7-Eleven.

Seoul's home of the Slurpee tested the sale of luxury goods during the Korean thanksgiving holiday in September by offering eight lines of Gucci goods at its stores there, the Journal reports. Now the chain is figuring out what other luxury goods it should offer for a limited time.Continue reading...

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Luxury Watch: Trump, Tiffany, LVMH +

Posted by Shirley Brady on August 27, 2010 11:00 AM

* Donald Trump has launched Trump Tea, with four blends named after his favorite places, including New York's Union Square.

* Tiffany & Co. sales increased almost 10% in the second quarter, with half of sales now outside the US.

* LVMH is reportedly eyeing sister-owned fashion label Rodarte as an acquisition, and is now a part-owner of China's Emperor Watch and Jewellery brand, where it sees a big opportunity among Chinese wealthy.

* Chloe's next CEO will be Geoffroy de la Bourdonnaye, a French luxury vet with tenures at LVMH and Disney. He replaces Ralph Toledano, who unexpectedly exited this week.Continue reading...

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De Beers Sparkles in 3D

Posted by Barry Silverstein on July 12, 2010 11:30 AM

De Beers, which controls about 40 percent of the rough diamond market, took a nasty beating during the global recession. But now the world's leading producer of the desirable gem is seeing some reason for cautious optimism.

De Beers showed promising results in the first half of 2010 and "a much healthier balance sheet," according to Reuters, but the company is far from declaring a complete recovery of its own.

That's why De Beers wants to keep its diamonds top-of-mind with upscale consumers. With Asia remaining one of the world's legitimate areas for growth in luxury items, De Beers is using Tokyo's Isetan department store windows to create a pioneering exhibit called "The Art of Diamond Jewelry."Continue reading...

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lap of luxury

Putting on the Ritz

Posted by Sheila Shayon on June 21, 2010 10:30 AM

The Ritz-Carlton is still considered the gold standard in customer service — and not just among well-heeled business travelers and jetsetters. At the core of this prized moniker: its employees, who are the face of a brand whose product is service. What's the secret to how the Ritz, and its employees, build loyalty to the brand and their locations?

Marketing and pricing can be competitive and close in the hotel business, but there's one factor that makes the Ritz stand out in the luxury hotel market.Continue reading...

lap of luxury

Shiseido's Burgeoning "Masstige"

Posted by Laura Fitch on June 2, 2010 11:00 AM

Japanese cosmetics company Shiseido is looking to reinvent its image from one of a high-end luxury brand to one of affordable quality.

Noting that the emerging middle class in China heralds a new beginning for developing countries throughout Asia, namely the beginning of a massive middle class, Shiseido is looking for ways to tap into this market while retaining it’s reputation for quality and prestige.

Dubbed “masstige,”  an amalgamation of “mass prestige” the company intends to broaden its product line, and snap up foreign companies that fit in with its new line of marketing, such as US brand Bare Escentuals, which Shiseido purchased for US$1.7 billion.Continue reading...

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China Checks Into Branded Entertainment

Posted by Barry Silverstein on May 31, 2010 04:00 PM

As we've reported, China's economy keeps chugging along and, with it, high-end hoteliers are finding the country to be fertile ground for growth. Now the challenge is for one homegrown luxury hotel brand to differentiate itself from its competitors, including international hotel groups, in the nation's booming hospitality business.

Swire's flagship property, The Opposite House, is one of those hotels. It is located in Beijing's Sanlitun Village, a tony open-plan shopping, dining and entertainment destination developed by Hong Kong-based Swire Properties, and established Swire Hotels to manage its urban hotels in mainland China, Hong Kong, and the UK.

As Swire's first hotel, it boasts 99 guest studios, 9 spacious suites, and a penthouse duplex with a roof terrace. It's also inspiring Swire to pioneer branded entertainment in China, in step with international luxury brands such as Dior also looking to communicate their brand essence with cinematic flair.

In an unusual marketing ploy to set itself apart, Swire is promoting the luxury boutique hotel by releasing Short Stays, a suite of three short films it commissioned from some of China's leading filmmakers.Continue reading...

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Questions Hover over Hermès

Posted by Suzanne Blecher on May 3, 2010 01:48 PM

The death of Jean-Louis Dumas, former CEO of Hermès, on Saturday raises questions about the future of the family-held luxury brand.

As the Wall Street Journal notes, Dumas rejuvenated a brand that got its start as a saddle maker. WWD noted his contributions to growing the company into a global powerhouse, hiring Jean-Paul Gaultier as designer for women’s ready to wear in 2004 and expanding into emerging markets including Asia.

A fifth-generation member of the Hermès family, the 72-year-old Dumas was its patriarch and kept dozens of family members around the company's managerial ranks. Son Pierre-Alexis Dumas still works as artistic director. 

However, when Jean-Louis stepped down as CEO four years ago, outsider Patrick Thomas was hired, signaling a shift of more than just bloodlines.Continue reading...

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VENU Hotel Brand Aims for "Contemporary Lifestyle"

Posted by Barry Silverstein on May 3, 2010 11:40 AM

As the global economy recovers, hotel chains continue to look for creative ways to stand out. It isn't enough to provide a comfortable bed in a clean room nowadays. Hotels need to appeal to a traveler's lifestyle and offer something unique that makes a stay memorable, whether the individual is traveling for business or pleasure.

That's why Jumeirah Group, a luxury hotel chain based in Dubai, is launching a new hotel brand called VENU Hotels later this year. In announcing the brand extension, Jumeirah calls VENU Hotels a "contemporary lifestyle five-star hotel brand" that will express "the local soul for those who seek a sophisticated immersion in the destination."

In recent years, hotels chains have trended towards lifestyle brands.Continue reading...

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