Our team has the experience of having created, developed and managed more than 500 brands and innovations in Europe, Asia and USA across different categories, including multi-billion and multi-million dollar brands and businesses. In a meeting we will present to you selected cases and opportunities that are relevant for your specific situation.
Case: Dynamic Asian Luxury Venture in Singapore
ÉQUITÉ for Gray: Taking the maker of the world's most expensive and most luxurious iPhone case to the next level.
Gray's vision is to redefine luxury for the post-modern individual. Based in Singapore, Gray is redefining what the future of luxury means today. With ÉQUITÉ's expertise on luxury and brand equity acceleration we provide strategic advice to grow the brand value for Gray systematically utilizing our proven data-driven tools. Selected aspects that ÉQUITÉ manages for Gray include
- Pricing strategy including Nonlinearity pricing models
- Brand architecture definition
- Brand Equity ÉQ modeling
- Category potential mapping
- Deep involvement in innovation planning and execution
- Portfolio and line extension planning
- Limited edition planning
Objective is to help Gray to develop from an Asian startup to a global luxury powerhouse.
Case: Strategic Sparring Workshop for a client in the Haute Couture Sector in Paris for a time-critical strategic project.
Strategic sparring on a critical project under time-constraint. The client needed in-depth advice for a time-critical, important strategic decision. We set up a workshop in Paris with less than 24 hours of lead time and created a turn-key solution leading to a successful project implementation.
- Situation analysis
- Structuring of options and approach
- Strategic guidance
- Identification of project related opportunities and risks
- Assessment and validation of growth strategy
- Co-creation of growth options
- P&L validation
"If I could add a title to these few lines, I would definitely use: 'Call on Équité is always a good idea'.
Working with Daniel is one of the best things that happened to me these past few months. I needed help to handle a strategic project, prioritize ideas, make sure no crucial development lever was forgotten while checking that quantitative targets would be reached. Daniel's performance included many concrete examples of similar situations and tremendous tools (completely customized to fit with my situation) dedicated to develop relevant ideas. He took my problematics as if they were his owns, and took me by the hand with goodwill and expertise to draw the better path to success. I have no doubt I will keep him in the future as a precious advisor and I strongly recommend any Manager (of a large account as of a startup) decided to move forward not to hesitate to ask for his support."
Case: Is the world's most expensive omelet too cheap?
Luxury pricing is difficult. How to determine the right price? The "Zillion Dollar Lobster Frittata" served at Norma's in Le Parker Meridien hotel is a great example for a luxury pricing case.
CNBC published an article about it, citing that the price was recently doubled to reflect increased quality and cost of the caviar used. Originally the price was $1,000, now it sells for $2,000. For one omelet!
Dr. Langer wrote about this omelet in the book, Luxury Marketing & Management (2013). For his PhD in luxury management he developed a powerful pricing tool called the "Luxury Index". It allows to run category assessments for luxury brands and determine pricing opportunities. As an outcome luxury brands will be able to understand if a category has already developed a true luxury segment. And it allows luxury brands to identify (significant) pricing potential.
When the book was published in 2013, it stated "Nevertheless, a price of $200 per scoop of ice cream for the Great Opulence Sundae in New York’s Serendipity 3 (served in 5 scoops for $1,000) or the $1,000 Zillion Dollar Frittata omelet in New York’s Le Parker Meridien will be out-of-reach for most, while the category benchmarking indicates still an upward potential."
And this is where it gets interesting. Most people -- even many mangers of luxury brands -- would argue that the price of $1,000 for an omelet is already extreme. However, the data clearly indicated that the omelet could be priced significantly higher. The restaurant doubled the price to reflect the higher cost of the ingredients, while the pricing assessment already suggested some years ago that the price of the omelet was clearly too cheap.
A wake up call for many luxury brands, as many categories have significant potential for a luxury segment at higher price points. And typically those categories are counter-intuitive. Among categories with significant luxury pricing potential are first class air travel, hotels and hospitality, luxury cars, champagne, men's fashion, men's shoes, golf clubs, hair care, ice cream, coffee, laundry care, to name a few.
In short, many luxury brands are too cheap and miss significant pricing and profit potential. At Équité we specialize in luxury pricing and develop creative strategies to make products, services and experiences truly special and unique, including branding strategies and limited editions.
Case: Digitally connecting a premium Millennial brand with its target group using a disruptive, authentic, highly relevant narrative.
Example of work led by Dr. Daniel Langer at previous company. Objective was to connect a premium styling brand with in a relevant narrative and in an innovative fashion with it's Millennial audience as part of a digital influencer campaign. Co-produced with i-D / VICE Media.
The campaign is raw and authentic and resonated strongly with the millennial target group. The result exceeded other campaigns in all relevant metrics and was judged as one of the most successful campaigns by VICE. It led to market share gains and brand acceleration.