Luxury Brand Management_ICA 1_240830_231400.pdf

Luxury Branding Prof. Runal Mehta | Dr. Neha Singh Luxury – Overview Table of Content 01 Luxury – Definition | Overview 04 Six Factors that define a “Luxury Brand” Lux...

Luxury Branding Prof. Runal Mehta | Dr. Neha Singh Luxury – Overview Table of Content 01 Luxury – Definition | Overview 04 Six Factors that define a “Luxury Brand” Luxury Conglomerates – 02 Key Segments (Market Size ) 05 LVMH | Kering | Richemont 03 8Ps of Luxury Marketing Mix 06 Revitalization of Luxury Brands Prof. Runal Mehta | Dr. Neha Singh 2 Luxury – Introduction (Overview)  The word Luxury comes from the Latin “Luxus” which means superabundance, excess in the way of life or a display of wealth aimed Prof. Runal atNeha Mehta | Dr. satisfying Singh desires4 that transcend real needs Luxury As Sombart (German economist and sociologist) states, Luxury is any expense that exceeds what is necessary. Prof. Runal Mehta | Dr. Neha Singh 5 The Element of ‘Desire’ The exclusivity around the brand is a result of its philosophy and goal of always remaining ultra-premium and luxurious that can be afforded by a very few and not be readily available. People seldom aspire things they can have Such tactics help aspiring brands to build successful instantly luxury brands. EXAMPLE The Hermès Birkin bag had a Desire is created when waiting list of six years. something is just out of Among the most expensive bags in reach. the world, ranging from $40,000 to $500,000 for a single bag. Named after actress and singer Jane The pinnacle of desirability is Birkin, the iconic bag is handcrafted achieved when the thing one wants is not available. and strictly exclusive, which drives the value of the Birkin year after year. Prof. Runal Mehta | Dr. Neha Singh 6 The Element of ‘Desire’ People seldom aspire things they can have instantly EXAMPLE Desire is created when something is just out of The famous Daytona in steel is for many such an object of reach. desire, ever since an early version appeared on the wrist of Hollywood star Paul Newman. Rolex brings approximately as many models into stores as it expects to sell. The result is long waiting lists. The (often unfruitful) hunt for the world’s most desirable watch only adds to the Rolex myth. Prof. Runal Mehta | Dr. Neha Singh 7 Luxury – Key Segments  \\\ Prof. Runal Mehta | Dr. Neha Singh 9 https://www.bain.com/insights/long-live-luxury-converge-to-expand-through-turbulence/ Luxury Brand Market – Introduction Luxury goods comprises luxury cars, personal luxury goods, luxury hospitality, fine wines and spirits, gourmet food & fine dining, fine art, high- end furniture & housewares, private jets and yachts, & luxury cruises According to Bain - Luxury cars, luxury hospitality and personal luxury goods together accounted for more than 80% of the total global luxury market. The market for personal luxury goods—the “core of the core” and the focus of this analysis—reached a record high of €362 billion Chinese consumers led the positive growth trend around the world. Their share of global luxury spending continued to rise (23%) Prof. Runal Mehta | Dr. Neha Singh 10 Luxury Brand Market – Introduction The secondhand luxury goods market rose to in 2023. Europe remained the largest market, accounting for around 45% to 50% of global secondhand luxury sales Brands continued to exert more control over their distribution, with directly operated channels increasing in importance again The online channel growth decelerated compared with previous years, as consumers favored physical interactions after years of restriction, resulting in a slight erosion, down to about 21%. Chinese will dominate the share by 2030 Prof. Runal Mehta | Dr. Neha Singh 11 \ Prof. Runal Mehta | Dr. Neha Singh 12 Luxury Marketing Mix – 8Ps Luxury Marketing Mix – 8P’s PERSONA PUBLIC FIGURES PAUCITY PLACEMENT 04 05 PUBLIC PERFORMANCE 03 06 RELATIONS 02 07 8P’s of Luxury PEDIGREE 01 08 PRICING Marketing Prof. Runal Mehta | Dr. Neha Singh 14 Luxury Marketing Mix – PEDIGREE Pedigree - the recorded ancestry or lineage of a person or family. Prof. Runal Mehta | Dr. Neha Singh 15 Luxury Marketing Mix – PEDIGREE Prof. Runal Mehta | Dr. Neha Singh 16 Luxury Marketing Mix – PEDIGREE Prof. Runal Mehta | Dr. Neha Singh 17 Luxury Marketing Mix – PEDIGREE Prof. Runal Mehta | Dr. Neha Singh 18 Luxury Marketing Mix – PEDIGREE Prof. Runal Mehta | Dr. Neha Singh 19 Luxury Marketing Mix – Pedigree Prof. Runal Mehta | Dr. Neha Singh 20 Luxury Marketing Mix – Pedigree Prof. Runal Mehta | Dr. Neha Singh 21 Luxury Marketing Mix – Pedigree Prof. Runal Mehta | Dr. Neha Singh 22 Luxury Marketing Mix – Performance Prof. Runal Mehta | Dr. Neha Singh 23 Luxury Marketing Mix – Performance https://www.youtube.com/watch?v=NekZK0vXyqc Prof. Runal Mehta | Dr. Neha Singh 24 Luxury Marketing Mix – Performance https://www.youtube.com/watch?v= Prof. Runal Mehta | Dr. Neha NUzDLpSkQTg Singh 25 Luxury Marketing Mix – Paucity Paucity - the presence of something in only small quantities or amounts. Prof. Runal Mehta | Dr. Neha Singh 26 Luxury Marketing Mix – Paucity Paucity - the presence of something in only small quantities or amounts. Prof. Runal Mehta | Dr. Neha Singh 27 Luxury Marketing Mix – Paucity Former Hermès CEO Patrick Thomas, once commented, “The luxury industry is built on a paradox: the more desirable the brand becomes, the more it sells but the more it sells, the less desirable it becomes” An Hermes craftsman. Source: Garland Magazine Prof. Runal Mehta | Dr. Neha Singh 28 Luxury Marketing Mix – Paucity Hermès Himalaya Birkin Bag as “the Holy Grail” in any handbag collection, It is not uncommon for auction houses, such as Christie’s – which is owned by Groupe Artémis, the holding company of Gucci and Saint Laurent owner Kering’s chairman François-Henri Pinault – to boast record-breaking auctions. In June 2017, a 3-year old Himalaya Birkin sold for $380,000 to an unnamed buyer in Hong Kong, according to Christie’s. The take-home-price of that Himalaya, which boasted 18 karat gold buckles and strap loops encrusted with 205 diamonds, swiftly flew past Christie’s presale estimate of ($193,000 to $258,000) 15 minutes of Hermès Himalaya Birkin handbag is worth intense bidding in the auction room in Hong Kong at least US$350,000 https://www.youtube.com/watch?v=67GVKHXqB48 Prof. Runal Mehta | Dr. Neha Singh 29 Luxury Marketing Mix – Paucity Only 499 limited-edition LaFerraris exist. Source: Flickr Prof. Runal Mehta | Dr. Neha Singh 30 Luxury Marketing Mix – Persona Prof. Runal Mehta | Dr. Neha Singh 31 Luxury Marketing Mix – Persona Back in 2017, Chanel was named by Insightpool as the most influential luxury brand on social media (based on overall engagement), topping the list above others like Louis Vuitton and Christian Siriano. At the time, the brand had 40.8 million followers on Twitter and Instagram alone. As we head into 2020, this number has grown to 51.9 million. Prof. Runal Mehta | Dr. Neha Singh 32 Luxury Marketing Mix – Persona KARLIE KLOSS STARS IN LOUIS VUITTON'S NEW LUGGAGE CAMPAIGN Prof. Runal Mehta | Dr. Neha Singh 33 Luxury Marketing Mix – Persona EMMA CHAMBERLAIN Prof. Runal Mehta | Dr. Neha Singh 34 Luxury Marketing Mix – Persona Prof. Runal Mehta | Dr. Neha Singh 35 Offline Marketing Strategies For Luxury Brands Oberoi https://www.youtube.com/watch?v=ZvAHk0Tojao Prof. Runal Mehta | Dr. Neha Singh 36 Luxury Marketing Mix – Public Figure Prof. Runal Mehta | Dr. Neha Singh 37 Luxury Marketing Mix – Public Figure Two types of Public Figures that make a luxury brand famous The Brand Ambassador The Celebrity Customer Prof. Runal Mehta | Dr. Neha Singh 38  \\\\\\\\\\\\ Patek Philippe Nautilus 5711/1R-001 Patek Philippe Nautilus 5711/113P-001 Market price: ~$200,000. Market price: ~$1,800,000. Prof. Runal Mehta | Dr. Neha Singh 39 Luxury Marketing Mix – Public Figure Prof. Runal Mehta | Dr. Neha Singh 40 Luxury Marketing Mix – Public Figure Patek Philippe Nautilus 5980/60G, Rs. 65,74,000. Prof. Runal Mehta | Dr. Neha Singh 41 Luxury Marketing Mix – Public Figure Elite customers you want to associate with Prof. Runal Mehta | Dr. Neha Singh 42 Luxury Marketing Mix – Public Figure Bulgari Italian brand Bulgari is famous for its glamorous gemstone jewellery, luxury watches, perfumes and leather goods. Actresses Rachel Weisz and Julianne Moore both starred in sensual campaigns for the luxury label when they were in their 40s and 50s. Nearly 10 years later, the brand opted for a much younger face in 21-year-old model Bella Hadid who helped push their Roman Night fragrance and fall/winter 2017 accessories collection. Since then, Bulgari has went on to introduce their youngest brand ambassador to date in 15-year-old model and songwriter Koki who is the daughter of celebrated Japanese actor and singer Takuya Kimura. Prof. Runal Mehta | Dr. Neha Singh 43 Luxury Marketing Mix – Public Figure Estée Lauder American cosmetics company Estée Lauder is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrances and more. British actress Elizabeth Hurley landed her first modelling job at 29 years old when she partnered with the prestigious brand and she remained the face of Estée Lauder until 2001 when she was 36-years-old. In 2014, 19-year-old Kendall Jenner was brought on board as a noticeably younger brand ambassador than previous faces for the label. Then in 2018, model Karlee Kloss joined the growing list of Estée Lauder ambassadors and became the new face of the 72-year-old brand at 25-years-old. Prof. Runal Mehta | Dr. Neha Singh 44 Luxury Marketing Mix – Public Figure Dior French luxury goods company Christian Dior has worked with a number of famed celebrities to help push their renowned label. From 2006 to 2010, Italian actress and model Monica Bellucci appeared in numerous Dior campaigns promoting cosmetics, fragrances and handbags. The fact that she was in her late 40s didn’t seem to be an issue, but over the next decade the brand’s faces have gotten noticeably younger In 2015, 27-year-old Rihanna partnered with the brand for the first Dior campaign to feature a celebrity of colour and earlier this year, Dior named 21-year-old British singer Jorja Smith their brand new global makeup ambassador. Prof. Runal Mehta | Dr. Neha Singh 45 Luxury Marketing Mix – Public Figure Chanel In the 80s, French model and style icon Ines de la Fressange became the first to ever sign an exclusive contract with Chanel and she remained the face of the brand until 1989 at 32-years- old. The label has since turned to a variety of other Hollywood stars and in 2016, Karl Lagerfeld named young starlet Willow Smith as a new face for the French fashion house. The 15-year-old daughter of Will and Jada Pinkett Smith landed several campaigns with the luxury brand and made her Paris Fashion Week debut at Chanel’s fall 2016 show. Fortunately, there’s still hope for the more seasoned celebrities looking to partner with the brand as 45-year-old Oscar-winning actress Penélope Cruz was chosen to become the new Chanel ambassador in 2018. Prof. Runal Mehta | Dr. Neha Singh 46 Luxury Marketing Mix – Public Figure Prof. Runal Mehta | Dr. Neha Singh 47 Luxury Marketing Mix – Public Figure Prof. Runal Mehta | Dr. Neha Singh 48 Luxury Marketing Mix – Public Figure Prof. Runal Mehta | Dr. Neha Singh 49 Luxury Marketing Mix – Placement Prof. Runal Mehta | Dr. Neha Singh 50 Luxury Marketing Mix – Placement Prof. Runal Mehta | Dr. Neha Singh 51 Luxury Marketing Mix – Placement Prof. Runal Mehta | Dr. Neha Singh 52 Luxury Marketing Mix – Placement Prof. Runal Mehta | Dr. Neha Singh 53 Luxury Marketing Mix – Placement Prof. Runal Mehta | Dr. Neha Singh 54 Luxury Marketing Mix – Placement Louis Vuitton (LV) has signed a multiyear deal with Riot Games that will include both physical and digital design work for this year’s League of Legends World Championships. This includes a one-of-a-kind Trophy Travel Case for the “Summoner’s Cup,” with LV having designed similar items for sports events including the FIFA World Cup, Rugby World Cup, and America’s Cup in sailing. Financial terms were not disclosed. Louis Vuitton to Design Trophy Case for League of Legends World Championships Prof. Runal Mehta | Dr. Neha Singh 55 Luxury Marketing Mix – Public Relations Prof. Runal Mehta | Dr. Neha Singh 56 Luxury Marketing Mix – Public Relations Prof. Runal Mehta | Dr. Neha Singh 57 Luxury Marketing Mix – Public Relations Prof. Runal Mehta | Dr. Neha Singh 58 Luxury Marketing Mix – Public Relations Prof. Runal Mehta | Dr. Neha Singh 59 Luxury Marketing Mix – Public Relations Prof. Runal Mehta | Dr. Neha Singh 60 Luxury Marketing Mix – Public Relations Prof. Runal Mehta | Dr. Neha Singh 61 Luxury Marketing Mix – Pricing Prof. Runal Mehta | Dr. Neha Singh 62 Luxury Marketing Mix – Pricing Louis Vuitton Paint Can Bag Which Costs Over Rs 2 Lakh Leaves Internet Baffled Prof. Runal Mehta | Dr. Neha Singh 63 Luxury Marketing Mix – Pricing $24,470 Hermes bicycle sold out in Chinese mainland Prof. Runal Mehta | Dr. Neha Singh 64 Luxury Marketing Mix – Pricing Prof. Runal Mehta | Dr. Neha Singh 65 Six Factors that define a “Luxury Brand” Six Factors clearly define a “Luxury Brand” Price Quality Rarity Symbolism Extraordinariness Aesthetics Prof. Runal Mehta | Dr. Neha Singh 67 Six Factors clearly define a “Luxury Brand” Price The brand proposes products that are the most expensive in its category. Prof. Runal Mehta | Dr. Neha Singh 68 3 Most Expensive cars in the World The Rolls-Royce La Rose Noire Droptail, the  world’s most expensive car, is priced at $30 million (approximately Rs. 211 crore). Unlike previous four-seater models, the La  Rose Noire is a two-seater supercar with a removable hardtop. It features a twin-turbo 6.75-liter V-12  engine, producing 563 bhp and 820 Nm of torque. The car’s body is crafted from carbon, steel, and aluminum. https://www.vanguardngr.com/2024/07/10-most-expensive-cars-in-the- world/#:~:text=1.,Royce%20La%20Rose%20Noire%20Droptail&text=The%20Rolls%2DRoyce%20La%20Rose,supercar%20with%20a%20removable%20hardtop. Prof. Runal Mehta | Dr. Neha Singh 69 3 Most Expensive cars in the World Measuring 5.3 meters in length and 2 meters in width, the La Rose Noire Droptail’s  body color changes when viewed from different angles. The unique paint was developed through 150 tests and a secret base blend. Its  design is inspired by the Black Baccara rose petals found in France. The development of this super luxury car  took two years, with an additional nine months for production. Prof. Runal Mehta | Dr. Neha Singh 70 3 Most Expensive cars in the World The Boat Tail, successor to the 2017 Sweptail,  features a distinctive two-toned exterior and a luxurious finish. Its interior boasts a lavish “hosting suite” with a  built-in sun umbrella and a champagne fridge, The rear deck reinterprets the wooden rear  decks of classic Rolls-Royce boat tail cars from the 1930s. Estimated Price: $28m Prof. Runal Mehta | Dr. Neha Singh 71 3 Most Expensive cars in the World The Bugatti La Voiture Noire, meaning “the black car,”  is powered by a quad-turbo 8-liter W16 engine with 1479 horsepower and 1600 newton-meters of torque. Featuring six exhaust tips, radical wheels, a custom  fascia, and an illuminated rear badge spelling out “Bugatti,” it embodies sophistication and elegance  This masterpiece seamlessly combines speed, aesthetics, luxury, and technology. Prof. Runal Mehta | Dr. Neha Singh 72 Six Factors clearly define a “Luxury Brand” – PRICE Top 10 Most Expensive Hotels in the World 2021 Prof. Runal Mehta | Dr. Neha Singh 73 Six Factors clearly define a “Luxury Brand” – PRICE Top 10 Most Expensive Hotels in the World 2021 Prof. Runal Mehta | Dr. Neha Singh 74 Six Factors clearly define a “Luxury Brand” – PRICE Top 10 Most Expensive Hotels in the World 2021 Prof. Runal Mehta | Dr. Neha Singh 75 Six Factors clearly define a “Luxury Brand” – PRICE Top 10 Most Expensive Hotels in the World 2021 Prof. Runal Mehta | Dr. Neha Singh 76 Six Factors clearly define a “Luxury Brand” – PRICE Top 10 Most Expensive Hotels in the World 2021 Prof. Runal Mehta | Dr. Neha Singh 77 Six Factors clearly define a “Luxury Brand” – PRICE Top 10 Most Expensive Hotels in the World 2021 Prof. Runal Mehta | Dr. Neha Singh 78 Six Factors clearly define a “Luxury Brand” – PRICE Top 10 Most Expensive Hotels in the World 2021 Prof. Runal Mehta | Dr. Neha Singh 79 Six Factors clearly define a “Luxury Brand” – PRICE Top 10 Most Expensive Hotels in the World 2021 Prof. Runal Mehta | Dr. Neha Singh 80 Six Factors clearly define a “Luxury Brand” – PRICE Top 10 Most Expensive Hotels in the World 2021 Prof. Runal Mehta | Dr. Neha Singh 81 Six Factors clearly define a “Luxury Brand” – PRICE Top 10 Most Expensive Hotels in the World 2021 Prof. Runal Mehta | Dr. Neha Singh 82 Six Factors clearly define a “Luxury Brand” – PRICE Top 5 Most Expensive Watches in the World Prof. Runal Mehta | Dr. Neha Singh 83 Six Factors clearly define a “Luxury Brand” – PRICE Top 5 Most Expensive Watches in the World Prof. Runal Mehta | Dr. Neha Singh 84 Six Factors clearly define a “Luxury Brand” – PRICE Top 5 Most Expensive Watches in the World Prof. Runal Mehta | Dr. Neha Singh 85 Six Factors clearly define a “Luxury Brand” – PRICE Top 5 Most Expensive Watches in the World Prof. Runal Mehta | Dr. Neha Singh 86 Six Factors clearly define a “Luxury Brand” – PRICE Top 5 Most Expensive Watches in the World Prof. Runal Mehta | Dr. Neha Singh 87 Six Factors clearly define a “Luxury Brand” – PRICE Stability in Prices Prof. Runal Mehta | Dr. Neha Singh 88 The wedding of Anant Ambani and Radhika Merchant at Antilia featured extravagant celebrations and lavish gifts, including ₹2 crore AP watches for celebrities like Shahrukh Khan and Ranveer Singh. Prof. Runal Mehta | Dr. Neha Singh 89 Six Factors clearly define a “Luxury Brand” Price Quality The brand proposes products that The brand extends longlasting top-of- are the most expensive in its the-line products, which, despite category. being used over a prolonged period is not disposed of; instead, it is repaired and reused, which often even gains value over time. Prof. Runal Mehta | Dr. Neha Singh 90 Six Factors clearly define a “Luxury Brand” – QUALITY Prof. Runal Mehta | Dr. Neha Singh 91 Six Factors clearly define a “Luxury Brand” Price Quality Rarity The brand proposes products that The brand extends longlasting top-of- In contradiction to mass-market are the most expensive in its the-line products, which, despite brands, luxury brands limit its category. being used over a prolonged period production and tries not to disclose is not disposed of; instead, it is its sales numbers. The brand is repaired and reused, which often difficult to get and is not readily even gains value over time. available at all times or places. Prof. Runal Mehta | Dr. Neha Singh 92 Six Factors clearly define a “Luxury Brand” – RARITY Hermès Himalaya Birkin Bag as “the Holy Grail” in any handbag collection, It is not uncommon for auction houses, such as Christie’s – which is owned by Groupe Artémis, the holding company of Gucci and Saint Laurent owner Kering’s chairman François-Henri Pinault – to boast record-breaking auctions. In June 2017, a 3-year old Himalaya Birkin sold for $380,000 to an unnamed buyer in Hong Kong, according to Christie’s. The take-home-price of that Himalaya, which boasted 18 karat gold buckles and strap loops encrusted with 205 diamonds, swiftly flew past Christie’s presale estimate of ($193,000 to $258,000) 15 minutes of Hermès Himalaya Birkin handbag is worth intense bidding in the auction room in Hong Kong at least US$350,000 Prof. Runal Mehta | Dr. Neha Singh 93 Six Factors clearly define a “Luxury Brand” – RARITY Nita Ambani’s ultra-rare Hermès Himalaya Birkin handbag is worth at least US$350,000 – encrusted with 240 diamonds and last spotted at a London lunch date with Karisma and Kareena Kapoor Prof. Runal Mehta | Dr. Neha Singh 94 Six Factors clearly define a “Luxury Brand” – RARITY Prof. Runal Mehta | Dr. Neha Singh 95 Anant’s Grandmaster Chime watch, which is touted as the ‘most complex luxury watch ever produced by Patek Philippe’ and is valued at a whopping Rs 18 crore. https://www.financialexpress.com/life/lifestyle-anant-ambanis-rs-18-crore-watch-to-radhika-merchants-rs-2-crore-bag-here-are-the-ultra-luxurious-accessories-and-outfits-donned-by- nmacc-guests-3037991/ Prof. Runal Mehta | Dr. Neha Singh 96  According to the ‘Indian Horology’ Instagram page, the ‘Grandmaster Chime’ has twenty complications, a reversible case, two independent dials, and six patented innovations. The development and assembly of this https://www.financialexpress.com/life/lifestyle-anant-ambanis-rs-18-crore-watch-to-radhika-merchants-rs-2-crore-bag-here-are-the-ultra-luxurious-accessories-and-outfits-donned-by- nmacc-guests-3037991/ Prof. Runal Mehta | timepiece Dr. Neha Singh took an astonishing 97 100,000 hours. Six Factors clearly define a “Luxury Brand” Price Quality Rarity The brand proposes products that The brand extends longlasting top-of- In contradiction to mass-market are the most expensive in its the-line products, which, despite brands, luxury brands limit its category. being used over a prolonged period production and tries not to disclose is not disposed of; instead, it is its sales numbers. The brand is repaired and reused, which often difficult to get and is not readily even gains value over time. available at all times or places. Symbolism It is charismatic in nature and fills the room regardless of whether it is of a conspicuous or understated nature, deep inside, pumped up with pride. Prof. Runal Mehta | Dr. Neha Singh 98 Six Factors clearly define a “Luxury Brand” – SYMBOLISM Louis Vuitton Prof. Runal Mehta | Dr. Neha Singh 99 Six Factors clearly define a “Luxury Brand” – SYMBOLISM Louis Vuitton Michael Clarke Luxury Trunk. Prof. Runal Mehta | Dr. Neha Singh 100 Six Factors clearly define a “Luxury Brand” – SYMBOLISM Louis Vuitton’s cuddliest creation is a $9,000 limited edition teddy bear Louis Vuitton only created one teddy bear design on their 150th anniversary that was completely designed, developed and manufactured by their own company. 500 pieces of the monogrammed bear – christened DouDou– were created and each one retailed for a staggering $9000. One of them was even sold at a Christie’s auction in Monaco for a whopping $182,000! Prof. Runal Mehta | Dr. Neha Singh 101 Six Factors clearly define a “Luxury Brand” – SYMBOLISM Prof. Runal Mehta | Dr. Neha Singh 102 Six Factors clearly define a “Luxury Brand” – SYMBOLISM Prof. Runal Mehta | Dr. Neha Singh 103 Six Factors clearly define a “Luxury Brand” Price Quality Rarity The brand proposes products that The brand extends longlasting top-of- In contradiction to mass-market are the most expensive in its the-line products, which, despite brands, luxury brands limit its category. being used over a prolonged period production and tries not to disclose is not disposed of; instead, it is its sales numbers. The brand is repaired and reused, which often difficult to get and is not readily even gains value over time. available at all times or places. Symbolism Extraordinariness Aesthetics It is charismatic in nature and fills the Luxury brands have a soul and style The brand behaves stylish and room regardless of whether it is of a of its own kind, and its products debonair, that reflects not but style. conspicuous or understated nature, amaze and surprise the customer The brand, when noticed personifies deep inside, pumped up with pride. with the "expected unexpected." a world of beauty and elegance. Prof. Runal Mehta | Dr. Neha Singh 104 Six Factors clearly define a “Luxury Brand” – Extraordinariness & Aesthetics Prof. Runal Mehta | Dr. Neha Singh 105 Six Factors clearly define a “Luxury Brand” – Extraordinariness & Aesthetics THE RESIDENCE By Etihad Airways https://www.google.com/search?rlz=1C1CHBF_enIN1012IN1013&sxsrf=AB5stBjSiImNYZEyydFmwRd8Vib8rpYV8A:169 0868267101&q=the+residence+etihad+airways&tbm=vid&source=lnms&sa=X&ved=2ahUKEwiyjLCT37qAAxX- SGwGHZp5CIEQ0pQJegQIXRAB&biw=1536&bih=707&dpr=1.25#fpstate=ive&vld=cid:75455793,vid:JN1q2NCNRPg Prof. Runal Mehta | Dr. Neha Singh 106