ADOTAT的动态

Worth a read … As a follow-on from the piece shared last week, this is another article on the theme of the criticality for luxury brands of having a distinctive and precise articulation of what the brand is all about – its essence, story, values - and using them to direct and infuse everything the brand does. Albeit, this time, the rationale for the need is additively different (versus the article from last week). The topic is addressed using the example of the effects on the momentum and performance of Gucci, following it’s change in direction under new business and creative leadership; and relatedly – both the risk (and opportunity) of the impending arrival of Alessandro Michele at Valentino, on?that?brand’s performance, going forward. On the surface, the article is talking about the luxury fashion sector, and focuses on the influence and effect of new creative direction on such brands and businesses – in light of, or in the absence of a clear, emotionally connective brand definition. But the points being made and lessons to be learned or reminded of, are just as relevant and applicable for any legacy luxury hard goods brands – in particular those on the journey of resurrection, rejuvenation, or outright re-invention. Where a fashion brand is subject to the creative vision (and potential off-brand excess, misalignment, or detour) of a designer, a luxury goods brand is equally influenced by the creative sensibilities or judgements of (new) internal leadership; its creative agency partners - and in particular in today’s collaborative economy – itinerant partner ‘creators.’ Hence the need to have a clear, precise, and explicit story and values framework guiding the brand’s manifestations. The imperative for successfully managing this synergetic relationship for luxury brands – between brand story and values, and creative or executional manifestation is beautifully captured in the article by the author (Daniel Langer): “… when brands give more power to the creative execution than to the underlying brand story – or worse, when the brand story no longer comes across at all – then value is destroyed. And luxury lives largely on its intrinsic value …?that’s what creates desire.” https://lnkd.in/dUEK9hVh

For decades, Gucci has been synonymous with bold, larger-than-life luxury. Once riding high under creative director Alessandro Michele, who helped 3x its sales with the Marmont bag and Princetown slippers, the company has now hit a rough patch. Reason? ?????????? ?????????? ????????: Gucci is no longer at its peak, with a 20% drop in sales in Asia and a decline in global fashion rankings. ????????????’?? ????????????????: Gucci is the core of Kering’s portfolio, driving over 50% of sales and more than 2/3rds of profits. When Gucci struggles, Kering suffers. ???????????? ????????: Rival LVMH has surged. Unlike Kering, LVMH is less dependent on a single brand, giving it a major advantage. Gucci’s identity crisis isn't just about numbers, however. It’s about vision. After parting ways with Michele in 2022, Kering brought in Sabato De Sarno from Valentino. His task? To shift Gucci from trendy, short-lived hits to a timeless, true luxury brand—more like Hermès or LV. Kering’s CEO Pinault has been discussing this vision since 2006. But luxury takes time. The stakes? Gucci’s future, and Kering’s survival. -------------------------------------- Check out my SUBSTACK page for a detailed version of this content—link in comments. P.S: Follow Ananya Vairavarajan for Top 1% Marketing Intel :)

How Gucci Hacked Luxury to Win Over Gen Z (and My Wallet) Let's face it, luxury style on occasion feels caught in a bygone era. Enter Gucci, the iconic emblem that threw out the rulebook and have become the remaining Gen Z darling. But how'd they pull it off? Buckle up, because their adventure is not anything short of a masterclass. 1. Creative Rebellion: Gucci wasn't afraid to take dangers. Alessandro Michele, their visionary Creative Director, brought a flamboyant, gender-fluid aesthetic that resonated with a generation rejecting labels. 2. Digital Revolution: Gucci embraced social media like a md. Quirky Instagram campaigns, hilarious TikToks, or even a playable app – they met Gen Z in which they lived, with content that felt proper and engaging. 3. Building a Community: Forget exclusivity, Gucci fostered inclusivity. They championed range in their campaigns, proposing models of all ethnicities, sizes, and gender identities. This resonated with a era that values social cognizance. 4. Collaboration Craze: Remember the ones Gucci flip-flops with The North Face? Genius, proper? Gucci mastered the artwork of collaboration, partnering with unexpected manufacturers to create restricted-edition portions that fueled hype and despatched creditors scrambling. 5. The Power of Play: Luxury was so critical! Their campaigns were playful, regularly surreal, and constantly Instagram-worthy. Because let's be honest, from time to time you simply gotta have amusing with fashion. 6. A Story to Tell: Gucci wove a narrative across the logo. Their campaigns have been mini-movies, their shops immersive reports. They bought a sense, a global you could be part of. ? 7. Omnichannel Obsession: Gucci seamlessly blended online and offline reports. Their digital try-on app helps you to rock a Gucci bag out of your couch, at the same time as their shops are interactive playgrounds. It's all approximately convenience and an experience that feels truely special. ? 8. Sustainability Spotlight: Gen Z cares about the planet. Gucci upped their sustainability efforts, the use of recycled materials and promoting moral practices. 9. Customer is King (or Queen): Gone are the days of snooty salespeople. Gucci prioritized exceptional customer service, making everyone feel welcome, irrespective of price range. 10. The Power of Now: Luxury used to be about culture. Gucci embraced the strength of now. They tapped into present day events, social moves, and pop culture, retaining their emblem sparkling and applicable. ?? So, there you've got it! The secrets behind Gucci's Gen Z domination. It's a story of embracing change, understanding your target audience, and injecting a few extreme amusing into the luxurious enjoy. Now, if you may excuse me, I gotta browse for that Gucci x Mickey Mouse bag... Don't forget to follow me for more luxury business strategies ?? #businessgrowth #businesscoach #luxurymarket #luxuryfashion #gucci #marketingstrategies

To build my argument, I've repeated something I've written before. As we approach the January men's market, it's important to remember that all Gucci shows will now be co-ed, with the next one scheduled for February 2025. While opinions on the brand's leadership vary, the situation with Sabato De Sarno at Gucci is not as challenging as it might appear. I'm confident that Gucci's new CEO, Stefano Cantino, has a well-thought-out strategy in place. Previously, I suggested that Cantino's vision involves "depersonalizing" Gucci, similar to what was done at Louis Vuitton. Consider this: does anyone today strongly associate Louis Vuitton with Nicolas Ghesquière? The concept of "depersonalization" seems to be gaining traction. Luxury brands are shifting their focus toward becoming household names where the creative director remains important but not central. For today’s clients, the brand name itself carries more weight than the individual behind it. This is why the trend of depersonalizing legacy brands is so prevalent. It provides a way to future-proof a brand by minimizing risks tied to over-identification with a single individual. Gucci experienced these risks firsthand under Alessandro Michele. While his departure was necessary to break free from dependency, the transition has been difficult, leading to nearly two years of decline. For conglomerates like LVMH and Kering, this approach is inevitable. The pressures of stock market performance, shareholder expectations, and quarterly earnings reports make it hard to prioritize creativity as the sole focus. Although "depersonalization" may not sound glamorous, it has become the safest and most reliable path for these industry giants. I’m revisiting this topic to highlight what I believe is the first step Stefano Cantino has taken to prove this point. Gucci recently unveiled their new window display concept, "Endless Narratives." The displays resemble mirrored bookshelves filled with books, figurines, and vintage Gucci accessories, hinting at the brand’s rich history. Italian artist Luca Pignatelli, known for blending history and modernity, was brought in to create 80 unique works for Gucci using sugar etching and collage techniques. These pieces, which resemble mini-exhibitions, will be showcased in stores worldwide, with each store featuring its own unique exposition. “This is a highly significant branding project. We present a more institutional image that spotlighted the Gucci brand and its identity,” Cantino explained. “With these windows, the focus is on Gucci, reaffirming its place as a luxury brand that has defined excellence since 1921 and is poised to continue shaping the industry for the next 100 years. The concept allows the windows to be highly eclectic, while the bookshelves provide a distinctive platform to narrate the story of the Gucci universe.” I will continue in the comments, please read it. WWD Vogue Business Vogue Gucci .

What do the collection pages of Gucci, Hermès, Louis Vuitton, Miu Miu, Prada Group, and Christian Dior Couture have in common? They’re all using content cards with feature images and videos inside their product grids. This lets them showcase their brand assets and tell stories around their products. As a result, they’re able to convey their brand identity despite the digital screen separating them from the shopper - helping bridge the gap between brick-and-mortar retail and ecommerce. This is clearly a more recent trend that I’ve seen explode over the past year or so across numerous ecom verticals (fashion, beauty, lifestyle, furniture & more) of editorial merchandising - making collections feel more like curated lookbooks rather than a bunch of loosely associated products. My conviction is that this trend is here to stay, as brands will have to work even harder to differentiate themselves through visual storytelling to stay relevant on their digital sales channels. --- P.S. I’m compiling a list of creative ways Shopify brands are making their collection pages pop - comment “pop” or DM me and I’ll share it with you!

Could it be a turning point for Gucci or just a blip? It was surprising to see Gucci moving up the Re-Hub’s index rankings in the first quarter given Kering’s recent profit warning.?The index measures the luxury brands that generated the most buzz on China’s top social media. The upward move could be thanks to Gucci’s Ancora event in Shanghai in March, during which it transformed the historical landscape with its campaign. ?Gucci’s creative director Sabato De Sarno unveiled his inaugural Spring/Summer 2024 collection to an exclusive gathering of VIPs and brand ambassadors. Social media buzzed with excitement as Gucci’s campaign hashtags generated 740 million views on Weibo. What's for sure is that marketing can only help a brand so much and after this it’s down to offering innovative and desirable products (and the supply chain to ensure availability). Do you think this is a sign that the consumer mood toward Gucci is beginning to change for the better or just a blip? I’d love to know what you think. #luxury #socialmedia #digital #marketing Smith Square Partners https://lnkd.in/e7y6vj99

Louis Vuitton’s triumph is attributed to its dynamic digital strategy, which included a series of longer-form video content on Douyin, generating over 2.5 million engagements in merely three months. The use of videos highlighted the brand’s diverse fashion categories and runway shows, resonating powerfully with its audience. Gucci came second, perhaps surprising many who speculated that Sabato de Sarno’s more muted style would fail to attract attention. However, this position underscores that Gucci remains the most relevant luxury brand in Shanghai and the second across all of Asia-Pacific. Miuccia Prada’s powerhouse status is again cemented with both Prada and Miu Miu moving up at number 4 and 13, respectively. This upward trajectory was also seen at Versace (12), Tod’s (15), Bottega Veneta (27) and Armani (24) in what seems to have been a good season for iconic Italian brands on Chinese socials. Though Hermès’ slight descent in the rankings stems from its recent venture into Xiaohongshu, industry experts believe the move is part of a planned expansion. This development, in concert with Dior’s foray into e-commerce with a mini-program, underscores a strategic shift by luxury giants to digitally evolve and court new consumers.

Can Kering revitalise Gucci? There was a world where Kering's market cap came close to that of LVMH's; however, over the past decade, LVMH's growth has been monumental. Under the visionary leadership of Bernard Arnault, LVMH has consistently outperformed its competitors, expanding its portfolio of iconic brands and solidifying its dominance in the luxury sector. The group's strategic acquisitions, innovative marketing, and highly coveted collaborations have propelled it to unprecedented heights. ? A significant factor in LVMH's success is its flagship brand, Louis Vuitton, often referred to as the jewel in its crown. The appointment of creative directors such as Kim Jones and later Virgil Abloh brought fresh perspectives and innovative designs to the brand. Jones' tenure rejuvenated Louis Vuitton's menswear line, while Abloh's groundbreaking work further bridged the gap between luxury and streetwear, attracting a new generation of consumers and boosting the company's profile and revenues. ? Meanwhile, Kering has also experienced significant growth, particularly since 2015 when Alessandro Michele took over as the creative director of Gucci, Kering's Jewel in its crown. Michele's bold and eclectic designs revitalized Gucci, transforming it into a fashion powerhouse and driving substantial revenue growth. This creative resurgence, coupled with strategic management decisions by Fran?ois-Henri Pinault, Kering's CEO, led to a remarkable increase in Kering's market cap. However, since Michele's departure, Gucci has faced challenges, struggling to maintain the same level of innovation and consumer engagement which has had a profound effect on Kering's market cap. ? Can Kering revitalise its most important asset in Gucci and how can they do this?

Gucci sales dropped by 10% in Q1, here's why The big name in the fashion world known for its bold and maximalist designs, is facing a slowdown. On Tuesday 23rd of April 2024, The French conglomerate Kering—owner of Gucci, Yves Saint Laurent, Bottega Veneta and other luxury brands—reported a 10% drop in first-quarter sales, as its star label Gucci faces slowdown in China and undergoes a leadership overhaul Forbes. Kering posted $4.8 billion (€4.5 billion) in sales for the first quarter, down by 10% year over year. Recently Gucci has struggled with two sector-wide challenges: 1??a downturn in China's once-booming luxury market 2?? a shift toward “quiet luxury,” marked by subtler and more refined aesthetics. Kering has taken a harder blow from this shift than its luxury peers due to the evolving tastes in the Chinese market (which is key in the luxury goods market, bringing in one-third of Gucci sales globally). Customers rather than opting for Gucci's historically loud, maximalist appeal, started favoring brands like Hermès and Prada for their understated elegance; both have posted strong full-year results for 2023. Resulting to Bernard Arnault-owned LVMH, the French luxury group behind Louis Vuitton—and Kering’s biggest competitor— reported last week a 3% growth in sales for the first quarter. This story is filled with lessons for every business, regardless of industry. Here are the key takeaways: ??The Customer is Always Right (and Evolving): Consumers can be fickle, and their desires change. Gucci's struggle highlights the importance of staying attuned to your audience's evolving needs. What are your customers whispering about these days? Are their priorities shifting towards experiences or sustainability? Understanding these nuances is crucial for staying relevant. ??Adapt or Get Left Behind: The market is dynamic. The market shifts, and so should you. Gucci's leadership changes signal an attempt to adapt to the "quiet luxury" trend. Stay updated with the market needs. Adjust your offerings or messaging to resonate with changing consumer preferences. If you don’t want to be left behind, equip your brand to pivot your strategy quickly if needed. ??Embrace the Power of Personalization : In today's dynamic market, tailoring your brand's messaging, marketing, experiences and products to meet individual needs are the key to stand out in a competitive market. Make your customers feel like valued individuals, not just part of a crowd. Gucci's story serves as a gentle reminder that even industry giants need to adapt. Special shout-out to Hyunsoo R. for contributing to this article???? P.S. Let's keep the conversation going in the comments below! What are your thoughts on how businesses can ensure they stay ahead of the curve? #Forbes #Fashion #Business #Entrepreneur #Marketingstrategy #Personalbrand #Globalbrandstrategist #GrowYourBrandWithMotun

I'm following this development keenly. We are living in such an interesting challenging time where the rules and rule books are no longer applicable. I mean there's already the favourite expression of #deluluisnotselulu. Being agile is a nightmare for many so used to hitherto leading and steering — not to mention stringing — their fans and audiences only to be challenged by the opposite. How does one do so with aplomb and relational relevance and yet preserve the sanctity and essence of a brand built with a strong tradition and legacy? And, how does #luxury reconcile this? ‘...in luxury, the ability to create desirability is everything..’ Like it or not numbers or bottom-line is not only the litmus test but the decisive factor on the health of brand, the business. Worth pondering over these recommendations, although I'll add the need to also continually track by researched analytics and classic exercises of brand health check. ‘....To reactivate the brand, #Gucci should consider these three strategies: 1) Revitalize #brandstorytelling: Where is the bold and confident Gucci of the past? Where is the freedom of self-expression, so clearly expressed by both Tom Ford and Alessandro Michele? Gucci needs to refocus on creating emotional connections rather than just selling products. And it needs to find its identity and core values again. 2) Don’t lose touch with young audiences: Gucci was best-in-class in its appeal to Gen Z and millennials. This is particularly important in markets like China, where the average age of luxury clients is extremely young. While the brand tries to become more relevant to older clients, it needs to strengthen — and maybe even rebuild — its relationship with younger audiences. 3) Dial up innovation, inspiration, and creativity: One of the clearest predictors of the success or failure of a brand is its ability to innovate, change, and inspire. Gucci needs to pivot from being one-of-many back to being one-of-one…’ #contagio #piquantideas #mentenbelen #luxe #luxury #retail #luxuryretail #marketing #luxuryretailmarketing #madschoolsg #ngeeannpoly #nanyangpoly