Brand Extension
I spent quite a few hours trying to come up with an idea that would be exciting and unique.
I love the experience of luxury and this is the kind of concept I wanted to work on. I wanted to come up with something that spells luxury from the very sound of it. I wanted to come up with something that is about the 'dream' of luxury. I wanted something that plays with the clients mind and makes them want more of the product or service.
After several hours of thinking I came up with the idea of :The LVMH Resort
Pictures I would like to associate with my idea are given below
Lets talk luxury
In fact lets talk ultra luxury
Lets move away from the shopping malls and everything ordinary
Lets just turn off reality for a little while
Lets pack our bags and experience life that way it should be; if only dreams were reality
Welcome to the LVMH Resort
Using the LVMH values and mission as a checklist, my idea to to develop the first of its kind LVMH luxury resort on a private island in France. I want the LVMH resort to be the ultimate in the french lifestyle experience. France is the birthplace of LVMH. Here is where I would like to create the first of its kind luxury resort in France. The resort will highlight the best in luxury and opulence, while giving consumers the ultimate luxury lifestyle experience.
Resort specifics:
Using the LVMH values and mission as a checklist, my idea to to develop the first of its kind LVMH luxury resort on a private island in France. I want the LVMH resort to be the ultimate in the french lifestyle experience. France is the birthplace of LVMH. Here is where I would like to create the first of its kind luxury resort in France. The resort will highlight the best in luxury and opulence, while giving consumers the ultimate luxury lifestyle experience.
The resort will be on a stand alone island in France. The island is called Ile Jacobin, and it is situated just off the north coast of Brittany, 3 km (2 miles) from the village of Roscoff, from which ferry connections to the UK can be made. It is currently available for sale, and I believe the acquisition of such an island would add to the LVMH brand. However it is important to note the LVMH will be managing the resort and they shall not own it. This way they can add to their current portfolio of offerings without being exposed to the volatile hotel and resort industry.
Resort specifics:
•Maximum of 10 villas and 20 guests per night
•Different villas, different themes, using only LVMH brands
•Each residence will be 6,500 square feet of craftsmanship
•Unsurpassed luxury
•Villas with private pools, golf courses, shopping centers, a Givenchy spa, bars Michelin-starred restaurants, a gym and meeting rooms.
•Hosts weddings
•Open throughout the year
LVMH Resort-
Week 3
Brand DNA - Week 3 assignment for my blog
Old Brand DNA
Car - Rolls Royce (Classy, stylish with a lot of heritage)
Animal - Lion (King of the jungle)
Object - Visa Diamond Card (Exclusive, and not everyone has it)
Emotion - Success (I have it therefor I am successful)
Celebrities - Kate and Prince William (very well known, and the current 'hot topic')
Colour - Gold (Rich and classy)
New Brand DNA
Car - Rolls Royce (Classy, stylish with a lot of heritage)
Animal - Lion (King of the jungle)
Object - Changed to a Diamond: (The old saying "Diamonds are forever" really is true, from the human perspective. Similar to an experience, it lasts forever. Experiences aren't objects like cards, they stay with us throughout our lives)
Emotion - Changed to Relaxation (The resort will be peaceful and calming, the idea is to get the luxury client to relax, and be away from the stress of work and life while on holiday)
Celebrities - Kate and Prince William (very well known, and the current 'hot topic')
Colour - Changed to Blue - (To reflect peace and calm, as well as the ocean)
Week 4
During our 4th lecture we spoke about services. I think this class was specially helpful as it helped me to visualize the penthouse I was thinking of. I think I've come up with the perfect design.
This video describes the look and feel of the product being delivered to perspective clients.
The project is designed to provide the absolute bet of fine living. The rooms will be designed using LVMH brands (different themes in different villas), and the resort shall also be managed by the LVMH brand.
The resort will give the brand several benefits:
I also found out that financially this will be a very viable deal for the brand and they stand to gain a lot of prestige and recognition from the project while associating themselves with a new extension.
There were a few risks as well:
Week 3
Brand DNA - Week 3 assignment for my blog
Old Brand DNA
Car - Rolls Royce (Classy, stylish with a lot of heritage)
Animal - Lion (King of the jungle)
Object - Visa Diamond Card (Exclusive, and not everyone has it)
Emotion - Success (I have it therefor I am successful)
Celebrities - Kate and Prince William (very well known, and the current 'hot topic')
Colour - Gold (Rich and classy)
New Brand DNA
Car - Rolls Royce (Classy, stylish with a lot of heritage)
Animal - Lion (King of the jungle)
Object - Changed to a Diamond: (The old saying "Diamonds are forever" really is true, from the human perspective. Similar to an experience, it lasts forever. Experiences aren't objects like cards, they stay with us throughout our lives)
Emotion - Changed to Relaxation (The resort will be peaceful and calming, the idea is to get the luxury client to relax, and be away from the stress of work and life while on holiday)
Celebrities - Kate and Prince William (very well known, and the current 'hot topic')
Colour - Changed to Blue - (To reflect peace and calm, as well as the ocean)
Week 4
During our 4th lecture we spoke about services. I think this class was specially helpful as it helped me to visualize the penthouse I was thinking of. I think I've come up with the perfect design.
This video describes the look and feel of the product being delivered to perspective clients.
The project is designed to provide the absolute bet of fine living. The rooms will be designed using LVMH brands (different themes in different villas), and the resort shall also be managed by the LVMH brand.
The resort will give the brand several benefits:
- •The clientele remains the same: discerning traveler who enjoys the finer things in life
- •LVMH stays within their area of expertise while managing the resort
- •They have always been associated with France and its heritage.
- •Leader in the luxury sector and add to the list of current offerings
- •Boost sales
I also found out that financially this will be a very viable deal for the brand and they stand to gain a lot of prestige and recognition from the project while associating themselves with a new extension.
There were a few risks as well:
•Investment: low risk
•Diversification: low risk
•Staff : low risk
•Architecture and Interiors : low risk
ΓΌ For the reasons mentioned above, this would definitely be a worthy extension
Reference
Module Slides, Class Lecture: Serena Gossain and John Harrison
Danziger, N. Pamela., 2005. Let Them Eat Cake: marketing luxury to the masses – as well as the classes. United States of America: Dearborn Trade Publishing.
Kapferer, J.N., and Bastein, V., 2009. The Luxury Strategy: Break the rules of marketing to build luxury brands. London: Kogan Page.
Danziger, N. Pamela., 2005. Let Them Eat Cake: marketing luxury to the masses – as well as the classes. United States of America: Dearborn Trade Publishing.
Silverstein, J. Michael., & Fiske, Neil., 2005. Trading up. United States of America: The Boston Consulting Group, Inc.
Chevalier, Micheal. and Mazzalovo, Gerald., 2008. Luxury Brand Management: A World of Privilege. Singapore: John Wiley and Sons.
Website: Reference For Business (http://www.referenceforbusiness.com/history2/1/LVMH-Mo-t-Hennessy-Louis-Vuitton-SA.html) Used on March 22, 2011 (London, U.K)
Website: LVMH (http://www.lvmh.com ) Used on March 22, 2011 (London, U.K)
Website: Vacation Homes Rental (http://www.vacationhomerentals.com/vacation-rentals/Las-Vegas-Nevada-vacation-rental-apartment-proID-5025.html ) Used on March 22, 2011 (London, U.K)
Website: Private Islands Online (http://www.privateislandsonline.com/) Used on March 22, 2011 (London, U.K)
Website: Necker Islands (http://www.neckerisland.virgin.com/en/necker_island/things_to_do) Used on March 22, 2011 (London, U.K)
Website: PR Log, Free Press Release (http://www.prlog.org/10123393-your-one-of-kind-penthouse-address-with-interior-design-by-salvatore-ferragamo.html) Used on March 22, 2011 (London, U.K)
Website: Maison Moschino
(http://www.maisonmoschino.com/en) Used on March 22, 2011 (London, U.K)
Website: Ferragamo Penthouse (http://www.ferragamopenthouses.com/) Used on March 22, 2011 (London, U.K)
Website: Luxuo, the luxury blog (http://www.luxuo.com/luxury-locations/ferragamo-luxury-penthouses-dubai.html#) Used on March 22, 2011 (London, U.K)
Website: Luxuo, the luxury blog (http://www.luxuo.com/luxury-locations/ferragamo-luxury-penthouses-dubai.html#) Used on March 22, 2011 (London, U.K)
Website: Cousine Island. (http://www.cousineisland.com/article-private-island-holiday.php) Used on March 22, 2011 (London, U.K)
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