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Ppt is about luxury brands and their competitors comparison

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Kiranmai Nedunuri
Kiranmai Nedunuri

Herm竪s is a French luxury goods company founded in 1837 that is known for leather goods, clothing, and scarves. Some key aspects of Herm竪s' success include word-of-mouth marketing due to the prestige of owning its bags, scarcity marketing through long waitlists, and maintaining craftsmanship and quality while expanding production capacity. Competitors also focus on digital marketing, collaborations, sustainability, and personalization to engage customers.

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A.PALLAVI 075 MBA 1st Year Presented by:
LUXURY BRANDS ft. Herm竪s AGENDA Meaning of Luxury brands Brief history of Herm竪s Success strategy of Herm竪s Competitors of Herm竪s Future prospects of Herm竪s
Meaning of Luxury brands Key identifiers of luxury brands are high quality, expensive and non- essential products and services that appear to be rare, exclusive, prestigious, and authentic, characterized by a high level of quality, exclusivity and high price tags. Characteristics of Luxury Brands Include: Craftsmanship Heritage Sophistication Creativity Superior Performance EXAMPLES Louis Vuitton Prada Chanel Dior Armani Tiffany Versace Sabyasachi Luxury products - Maslows need hierarchy. Consumers buying luxury goods undoubtedly means that one is far above physiological and security needs. Consumers who buy luxury goods are not just purchasing a product; they are investing in a lifestyle, a social status, and a sense of belonging to an exclusive club of people who can afford to buy these brands.
About Herm竪s Founded by French luxury goods maker Thierry Herm竪s. Introduced in 1837. The Brand is known for luxury goods, by 2008, Herm竪s had 14 product divisions . Herm竪s sales compose about 30% leather goods, 15% clothes, 12% scarves, and 43% other wares. Herm竪s is known for its handmade luggage and handbags. Birkin bags are handmade from leather and are named after the French actress Jane Birkin. The bag comes in a variety of hides, such as calf leather, lizard, and ostrich. Among the most expensive used to be saltwater crocodile skin
Success Strategy Word of Mouth: Owning an Herm竪s bag is a key to belonging in high society, a currency of legacy Herm竪s has ensured that itll never need ads for the products. As the products gain have instant recognition value. Scarcity Marketing: 6months to 6 years waiting list This tactic creates a heightened demand for the product by ensuring that the supply is perceived to be limited. The brand never discloses how many of its iconic bags it makes in a year. 1 Targeted customers The brand targets high-net-worth individuals who appreciate the quality, exclusivity, and craftsmanship of luxury goods. 2 Uniqueness and Authenticity Everyone wants to have a unique, authentic and exclusive item. Lets know some of the main success strategies used: 3 Maintaining the crown The brand is focusing on offering more and rarer specialized options, all while keeping the quality top-notch. 4 5
Competitors Of Herm竪s Herm竪s planned to open new leather goods factories in the French towns before 2024 in order to increase and speed up its production of the expensive bags. The company which already has 4,300 leather workers; is planning to hire 400 more artisans to keep up with demand for its handbags. Increased Focus on Digital Marketing, More Collaborations, Sustainability, Personalization. we can expect Herm竪s to continue to innovate and evolve its marketing strategy changing as per consumer preferences. Future prospects
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Ppt is about luxury brands and their competitors comparison

  • 1. A.PALLAVI 075 MBA 1st Year Presented by:
  • 2. LUXURY BRANDS ft. Herm竪s AGENDA Meaning of Luxury brands Brief history of Herm竪s Success strategy of Herm竪s Competitors of Herm竪s Future prospects of Herm竪s
  • 3. Meaning of Luxury brands Key identifiers of luxury brands are high quality, expensive and non- essential products and services that appear to be rare, exclusive, prestigious, and authentic, characterized by a high level of quality, exclusivity and high price tags. Characteristics of Luxury Brands Include: Craftsmanship Heritage Sophistication Creativity Superior Performance EXAMPLES Louis Vuitton Prada Chanel Dior Armani Tiffany Versace Sabyasachi Luxury products - Maslows need hierarchy. Consumers buying luxury goods undoubtedly means that one is far above physiological and security needs. Consumers who buy luxury goods are not just purchasing a product; they are investing in a lifestyle, a social status, and a sense of belonging to an exclusive club of people who can afford to buy these brands.
  • 4. About Herm竪s Founded by French luxury goods maker Thierry Herm竪s. Introduced in 1837. The Brand is known for luxury goods, by 2008, Herm竪s had 14 product divisions . Herm竪s sales compose about 30% leather goods, 15% clothes, 12% scarves, and 43% other wares. Herm竪s is known for its handmade luggage and handbags. Birkin bags are handmade from leather and are named after the French actress Jane Birkin. The bag comes in a variety of hides, such as calf leather, lizard, and ostrich. Among the most expensive used to be saltwater crocodile skin
  • 5. Success Strategy Word of Mouth: Owning an Herm竪s bag is a key to belonging in high society, a currency of legacy Herm竪s has ensured that itll never need ads for the products. As the products gain have instant recognition value. Scarcity Marketing: 6months to 6 years waiting list This tactic creates a heightened demand for the product by ensuring that the supply is perceived to be limited. The brand never discloses how many of its iconic bags it makes in a year. 1 Targeted customers The brand targets high-net-worth individuals who appreciate the quality, exclusivity, and craftsmanship of luxury goods. 2 Uniqueness and Authenticity Everyone wants to have a unique, authentic and exclusive item. Lets know some of the main success strategies used: 3 Maintaining the crown The brand is focusing on offering more and rarer specialized options, all while keeping the quality top-notch. 4 5
  • 6. Competitors Of Herm竪s Herm竪s planned to open new leather goods factories in the French towns before 2024 in order to increase and speed up its production of the expensive bags. The company which already has 4,300 leather workers; is planning to hire 400 more artisans to keep up with demand for its handbags. Increased Focus on Digital Marketing, More Collaborations, Sustainability, Personalization. we can expect Herm竪s to continue to innovate and evolve its marketing strategy changing as per consumer preferences. Future prospects