Rebranding of luxury fashion brands : A case study of how to communicate rebranding to younger consumers
Abstract: Abstract Background: The luxury fashion brands need to rebrand themselves towards the younger consumers. In 2025 Millennials and Generation Z will represent approximately 55% of the market for luxury products. The exclusive brands need to adapt to this target group. Rebranding requires considerable investments with different rebranding methods and new marketing channels and there is no guarantee of a successful outcome. It is important to understand what the new desired target group appreciates. According to previous research, the right type of marketing is important for the companies rebranding to reach their desired target group. However, there is a gap in the scientific research between which marketing strategies are most efficient for the luxury companies to reach the younger consumers. Purpose: The purpose with this research is to investigate from a marketer’s perspective how younger consumers perceive rebranding and marketing of luxury fashion brands by looking at the communication of the rebranding towards the consumers. Which rebranding methods and marketing channels are efficient towards the younger consumers? Methodology: A qualitative case study has been made with four case companies. To find out what companies have done in their rebranding, data have been collected from the chosen companies’ websites and from other fashion industry related websites. Semi-structured interviews with younger consumers have also been made in order to find out how they experience the luxury brands rebranding and marketing? Findings: The findings suggest that it is efficient for the luxury fashion brands to hire a new creative director and create a new style in the assortment. They should keep their old, famous, iconic logo and monogram. If it somehow must be changed, they need to create a new unique one and avoiding an already existing font. It is also efficient to created new collections with entry-level products for the brand, such as accessories and ready-to-wear collections. When it comes to marketing of the rebranding, social media, celebrity endorsement, collaborations, traditional stores, TV and TV-series, are efficient communication channels to use. The best way is to show the luxury clothes and accessories on influencers via Instagram. Marketing through fashion magazines is still good but the luxury fashion brands do not need to put as much emphasis on that as they did before. Conclusion: If the luxury brands work with these efficient rebranding methods and marketing channels they will most likely succeed in reaching their new younger target groups. The rebranding methods are: A new creative director and a new style, accessories and ready-to-wear collections, new logo and new monogram. The marketing channels are: social media, celebrity endorsement, collaborations, movies and TV-series, editorial placements and traditional stores.
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