Luxury Pricing Strategy

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The Client

Gray International is one of the world's most innovative luxury companies, headquartered in Singapore, founded by Millennials for Millennials. Frustrated by the lack of relevance of many traditional brands for Millennials, Gray ignited a rebellion in 2015, seeking to rediscover the excitement and brilliance that luxury once promised. To do so, Gray decided to break away from the past and draw inspiration from the future, setting upon a path that few have dared to tread. Équité is advising Gray on their journey to build the luxury brand of the future on all strategic marketing challenges, including brand strategy, branding, innovation, pricing strategy and go-to-market strategy. 

 

The Challenge

  • Validate the pricing architecture and strategy 
  • Develop the pricing strategy for the new Advent iPhone 8 and X cases
  • Exploit opportunities for luxury pricing
  • Emotional storytelling to support pricing strategy
  • Create a more consistent assortment structure
  • Create and price line extensions
  • Create and plan limited editions 
  • Improve revenue and profitability 

 

Our Approach

  • Category and competitive pricing diagnostics
  • Assessment of category luxury pricing potential and optimal pricing 
  • Development of new global pricing architecture for the Gray brand
  • Optimization of entire assortment utilizing Équité's quantitative luxury pricing model
  • Planning of pricing strategy for new iPhone 8 and X cases
  • Repositioning of brand flagship “Aurora” 
  • Emotionalize the unique craftsmanship at the Aurora workshop via video
  • Line extension development: Rose Gold case with new flagship pricing
  • Limited Edition planning & development

 

First Results

  • Validity and precision of pricing approach was confirmed in first results
  • New Rose Gold Edition and repositioned Aurora flagship with high acceptance
  • New pricing architecture significantly improves profitability 
  • New pricing architecture reflects the elevated brand value
  • Expertise, authenticity and craftsmanship of Aurora dramatized in video

 

Client Feedback

“We were impressed with the precision of Équité”s data-driven luxury pricing tools and their creative ideas. We are expecting a significant acceleration of our top line growth, profitability and brand valuation with the new pricing and assortment model and recommend Équité to any company interested in achieving significant improvement of profitability and growth.”

Kevin Wu, Founder and CEO, Gray International

Daniel Langer