There are brands and brands. Some very young people born from the 2000s onwards who have brought with them innovations, digital and completely new values to which brand activism belongs; then there are the historical ones, those of the heritage, born even before the fall of the Berlin wall and which have a fundamental link with the origins they represent.
To date, with a world that has changed completely and in a market that evolves at the speed of light, is being a historic brand more of an advantage or a cumbersome chain? Opinions are divided: on the one hand the brands that value their history as a real cultural heritage and defend it through principles of continuity in the contemporary world, on the other the brands that decide to go further and experiment in a very future line. more avant-garde.
The latter are often luxury brands that can afford to take risks with innovative product and marketing strategies that imply a rebranding or repositioning of the brand.
Rebranding is the more or less incisive reinterpretation or redefinition of a brand. When a rebranding is implemented, a marketing strategy is set up in which the new characteristic elements of the brand are developed: a new logo, name, symbol but also a new design, graphics, concept or a set of them.
Often rebranding concerns established companies that decide to develop a new positioning in the mind of the consumer, competitors and stakeholders or companies that change their strategy, service or product or simply expand them to engage a new target.
In essence, it is the complete repositioning of a brand, through a whole series of marketing actions and strategies.
Among the brands that in recent times have operated a brand repositioning we find Tiffany & Co., the US luxury jewelry giant. The brand was recently acquired by LVMH, a French fashion group that owns the most luxurious brands in the world including Louis Vuitton, Dior and Stella McCartney.
In the last year LVMH has adopted a series of changes and strategies aimed at achieving an ambitious goal: to rejuvenate its brands and bring them closer to an audience of Millennials and GenZs.
As one of the group’s latest major acquisitions, Tiffany & Co was no exception. In fact, the brand is undergoing a particularly powerful market repositioning desired by the new marketing strategy of the French luxury group.
This can be seen in the last two major communication campaigns developed by Tiffany. The first concerns the Out Of Home and the title already reveals all the intentions of the brand: “Not your mother’s Tiffany”.
The second, spread all over the world and which includes two exceptional ambassadors and celebrities loved by a transversal audience, Beyoncé and Jay-Z, concerns influencers and content marketing.
Another action taken by the brand that has been around the world, generating a considerable engagement, was the “About Love” campaign. The reason? The protagonists are two international music stars who are also a family.
So who better than Beyoncé and Jay Z to represent love and diversity? In the images of the campaign, featured on the brand’s Instagram feed, the singer wears the priceless Tiffany Diamond which, since its discovery in 1877, has only been worn by three women.
“Beyoncé becomes the first black woman and the fourth woman to wear the legendary stone,” reads the copy of the photo.
The latest content marketing campaigns published on Tiffany & Co.’s digital channels once again confirm the brand’s priority to acquire consumers of a new target. The formats used on social media have begun to diversify, stories and storytelling videos with very young protagonists including actors, sportsmen and performers, who, by involving their followers, bring them closer to a brand that previously may not have been in the top of mind of their brands.
This brand has come a long way since Guccio Gucci created it in 1921. Designers and creative directors have gone by: from family management, to the disruptive arrival of Tom Ford, through Frida Giannini to the most absolute revolution with Alessandro Michele. Since Michele’s arrival in January 2015, the Florentine fashion house has become the most striking example of a brand repositioning.
The rebranding concerns not only a stylistic and product change, but a renewal of forms and channels of communication, points of contact with the customer and with partners. The brand’s latest move was the creation of a pop-up store called “Cartoleria Gucci”, designed exclusively for the week of the Milan Furniture Fair.
Another brand repositioning that once again has a luxury brand as its protagonist is that of Celine. The new designer and creative director Hedi Slimane, wanted to reset everything that was there before him and is promoting an absolutely new brand that is in line with the tastes of Millennials and even more with those of Generation Z.
Slimane has decided to change the logo (the previous one had the accent on the first e) to propose “a more balanced and simplified proportion”. Since Slimane’s arrival, all the photos of the previous collections designed by Philo have been removed, both from the website and from the social networks. In short, the beginning of a new course.
The examples shown above are only the most recent cases of a market such as that of luxury which is in a moment of absolute turning point. The behavior of brands and their strategies will be vital to understand the directions to take based on the business objectives to be achieved.
Certainly the two new generations who are making the brands change their strategic plans represent a very large slice of the market that will be even greater in the future. As Business of Fashion points out, Millennials and GenZ will represent 45% of global luxury market sales by 2025. New rebranding is therefore expected.