The reality of many luxury and premium brands is sad: They have been well positioned in the past but entered into the trap of lowering prices, engaging into entry level offers, and gambled with their equity. A systematic strategy and rigorous action plans are needed to turn them around.
Read MoreIt 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.
Read MoreBrands need a clear foundation. An extremely sharp equity definition. Without, their positioning is not clear enough. And as a result, they lack relevance and have limited potential for premiumization. When was the last time you asked the question: "Why should someone buy my brand, really"?
Read MoreHow to price a luxury right? The dilemma is that too much means that potentially no one (or not enough people) will buy. And a too low price means not enough profit and may endanger the perception of luxury. Classic pricing methods don't work well for luxuries. Expertise and tools are needed.
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