Celebrities Are Luxury Brands, Too (And Their Brand Needs To Be Managed)
It sounds obvious, but celebrities are brands too. Consequently, whether they are perceived as relevant, premium, even luxury, depends on how well their brand is managed. Brand equity management and a sharp positioning is indispensable especially for celebrities.
Yet it is a very difficult task. When an aspiring actor or sports star comes into the spotlight, they are rarely prepared for the fame. How to speak and act in public.? What to say? How to dress? How to behave? Whom to be associated with? And to manage the public profile, a sharp brand equity definition is needed.
In principle, the personal brand for a celebrity is like defining the equity of a luxury brand. And in this, we have a unique expertise and proven tools. Our ÉQ brand equity tool is a perfect tool to define the personal brand in every aspect including the fundamental emotional positioning, competitive and substitutional mapping. With this foundation, a successful public appearance can be managed.
When I was interviewed many years ago by the leading German newspaper Frankfurter Allgemeine Zeitung about the question if Kim Kardashian could become a "luxury brand", my answer was "in principle yes". And this was at the very beginning of her career, when Reality TV was still in its infancy. To make a person become perceived as "luxury" or associated with the world of luxury, a lot of brand equity building is needed. Needless to say that Kim Kardashian excels in this discipline and has become one of the most successful and influential icons of our time.
While she did many things right, many others fail. We recommend to any celebrity to undergo a rigorous brand building exercise. Our research has shown that a luxury brand attributes a "celebrity-alike" status to people. And vice-versa, celebrities will profit from insights of managing luxury brands right.
At Équité we love to support celebrities and actors in the privacy and with the confidentiality of a boutique luxury and brand equity firm. Contact us to learn more about the ÉQ brand equity tool and how we can help to build personal brands.