This is what it takes to power luxury brand collaborations.
In the past, brand collaborations with an established company were a favored tool of start-up companies looking to fuel growth and gain access to a ready-made customer base. But we have recently seen an increase in long-established luxury brands, with sizable customer bases of their own, collaborating to reach new target markets and provide their loyal customers with something new, exciting and different.
To say the Louis Vuitton x Supreme collaboration was a success is an understatement. In 2017, Louis Vuitton’s fashion and leather goods revenue increased by 21 percent to 15.4 billion euros. In the LVMH 2017 annual report, the Supreme collaboration is directly attributed as a factor for this growth, and the trend continued in 2018, with LVMH fashion and leather goods revenue increasing a further 19 percent to 18.5 billion euros.
Alternatively, they may seek intangible expertise, such as in marketing or access to customer lists and distribution channels — for example, the recent Moschino x Sephora collection, where Jeremy Scott-designed Moschino beauty products were sold through Sephora’s extensive network of retail stores and online.
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