Case Study: Selling Luxury to the 1%

Download Now   ~/AAAHagA~/RgRnng7iP0SsaHR0cDovL3d3dy5idXNpbmVzc29mZmFzaGlvbi5jb20vP2xpZD1qcThucXRjcGRmZ20mdXRtX3NvdXJjZT1icmF6ZV9tYXJrZXRpbmcmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249THV4dXJ5XzElX0Nhc2VfU3R1ZHlfMDEwMjI0X1JlZ2lzdGVyZWRfQWN0aXZlX1VzZXJzJnV0bV9jb250ZW50PVcFc3BjZXVCCmWy4om7ZaZDWZFSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~   ~/AAAHagA~/RgRnng7iP0T7aHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2Nhc2Utc3R1ZGllcy9sdXh1cnkvdG9wLW9uZS1wZXJjZW50LXdlYWx0aHktY3VzdG9tZXJzLWd1Y2NpLW15dGhlcmVzYS10aWZmYW55Lz9saWQ9MWFiZWJ1eXgza2ljJnV0bV9zb3VyY2U9YnJhemVfbWFya2V0aW5nJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPUx1eHVyeV8xJV9DYXNlX1N0dWR5XzAxMDIyNF9SZWdpc3RlcmVkX0FjdGl2ZV9Vc2VycyZ1dG1fY29udGVudD1XBXNwY2V1QgplsuKJu2WmQ1mRUht0cmlzdHJhbWJhbGR3aW45MEBnbWFpbC5jb21YBAAAACQ~ Dear {NAME}, Luxury brands have long reserved their most exclusive experiences for their highest-spending customers: today, that means organising elaborate multi-day trips where top clients can brush arms with designers and celebrities; opening ultra-luxurious invitation-only stores; and expanding their collections of customisable, one-of-a-kind products. Courting “VICs” — very important clients — has become a strategic focus for brands, particularly as aspirational consumers hit by the rising cost of living claw back on discretionary spending. However, engaging the wealthiest shoppers is only becoming more challenging, as competition for their attention intensifies. The dynamic is pushing retailers and megabrands to implement more sophisticated, differentiated strategies to foster relationships. Our latest BoF Professional case study, "Selling Luxury to the 1%," examines strategies adopted by Gucci, Mytheresa and Tiffany & Co. that are designed to build closer relationships with top clients, foster greater loyalty and increase their spending in the long term. To learn more, download the full case study now. 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