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Luxury Marketing Project: Loro Piana - Essay Example
Author : walkerbode
Pages 10 (2510 words)
Luxury Marketing Project: LoroPiana Marketing of Luxury Karim Aouad 22.10.2013 Introduction Per capita income thresholds are increasing for most of the individuals with development of global economy. The growing income levels of all the consumers in the world have augmented the turnover of global luxury market…
The context of this essay will not only facilitate to understand the current status of the brand in the market but will also provide further ways by virtue of which the firm would be able to augment its sales in future(Rogers, 2001). LoroPiana LoroPianais a luxury clothes-producing company that is based in Italy. The company produces high-end woollen garments and cashmeres. The LoroPiana merchant family founded the organization in the early nineteenth century. The family did business of woollen garments initially from Trivero, located in Northern Italy, and over time in the twentieth century; the family shifted their business to Valsesia. Moet HennessyLouis Vuitton (LVMH) is another luxury goods company; it has purchased almost 80% of LoroPiana’s shareholding on the 8th of July 2013, which is worth almost 2 billion Euros. LoroPianais a famous luxury brand company with almost 132 stores across the world (Roberts, 2013). Brand Identity Prism Jean-Noel Kapferer had introduced prism analysis for a brand. This included six aspects that help to identify a brand. These aspectsare culture, personality, physique, self-image, relationship and reflection. These six aspects were classified further in two dimensions. ...