How To Build A Stronger Luxury Brand In 2021

by Startacus Admin
Planning to build your business into a luxury brand? These tips will help you do just that...
Luxury brands must strive for perfection. Any flaws and a firm’s luxury image can be severely damaged, and few companies will recover from any shortcomings.
Additionally, the demand for luxury is high. A surge in spending was predicted at the start of 2021, and people are keen to break free from a period of lockdowns. Luxury experiences can be a gateway to a brighter world, and the companies that provide them stand to gain a great deal.
Therefore, you should bolster the effectiveness of your brand however possible. Ensure that all your team fully understand the size of the task before them. Your company must fire on all cylinders and use all strategies at its disposal. There’s no room for half measures or compromise here.
You will need to keep a few different things in mind to succeed. Below are some tips to help you build a stronger luxury brand.
Explore Your Niche Fully
All brands revolve around a niche. However, luxury brands really need to utilise that premise to its utmost potential.
If your brand is relatively new, then you can better achieve luxury status by being highly selective and focused on your offerings. Your chances for success also increase when your brand appeals to a particular group of wealthier customers.
Discipline matters enormously too. There is always a temptation for firms to appeal to larger markets and a higher volume of consumers. However, the concept of luxury is exceedingly niche, so you must resist any distractions in your operations. Offer a masterful product or service rather than several mediocre alternatives.
Collaborate with a Quality Digital Marketing Agency
There are many digital marketing agencies out there that provide support services to firms. However, some will tailor their solutions to luxury brands, and those are the ones you should align with.
303 London are a highly reputable digital marketing agency for established luxury brands. They can provide you with high-end content creation services or develop paid media strategies for rapidly growing direct to consumer businesses. Their campaigns engage, entertain, and generate conversions, so utilise their expertise to give your luxury brand an extra edge.
A willingness to collaborate is crucial. Luxury brands have strong connections and openly work with other brands and businesses that are focused on providing quality services. Often, your reputation can be boosted by mere association, so take advantage of these working relationships fully.
Consider Pandemic Effects
Businesses and consumer spending have largely suffered under the pandemic. However, these takes can’t be readily applied to those on the ‘elite’ end of the spectrum.
Many luxury brands have hiked their prices recently to appeal to the super-rich, many of whom build even more wealth during the pandemic. Depending on your sector, it may be advisable to follow suit. After all, it may help you to make up for any losses you suffered during the lockdowns.
As a luxury brand, it’s important to resist compromising on your price points and offerings. You should always be pushing the high-quality factors of your products and services. You must unwaveringly appeal to the elite. If you buckle under pressure and downgrade your offerings, many will question whether your firm is truly one of luxury.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Cambridge-based startup, CardiaTec Biosciences raises investment to support further development of its mission to develop the next generation of cardiovascular disease targets.

Raise Ventures on a mission to empower the next generation of business leaders and founders with the launch of their pioneering Emerging Leaders Summer School.

The recipients of the 2022 Ulster Bank Enterprise Fund are announced, each aiming to promote and encourage entrepreneurship amongst underrepresented groups.

Leading disability-focused organisations join forces to launch the #Access2Funding campaign - calling on the VC and investment community to improve the representation, opportunities presented to and experience of disabled founders.

WeWALK, RNIB, and ICL consortium secures UKRI funding to improve mobility for visually impaired and elderly.

The lowdown on Studeo, the edtech startup that has created a video learning app in order to democratise elite tutoring.

The impact of standards, ethics and conduct on business success and profits - Work.Life has some interesting insights...

The lowdown on Space32 - the startup that wants to help hybrid-working businesses find the working space and solution that's right for them.

Global Tech for Good initiative seeks innovative startups and scaleups that are creating positive social impact and enhancing people's lives through tech.

The lowdown on Bidnamic, the startup that's combining advance machine learning with human expertise to help retailers to maximise revenue and profitability from Google Shopping.
Published on: 13th September 2021
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.







- CardiaTec Biosciences Secures £1.4m to combat cardiovascular diseases using Artificial Intelligence 6th Jul 2022 Cambridge-based startup, CardiaTec Biosciences raises investment to support further development of its mission to develop the next generation of cardiovascular disease targets.
- Raise Ventures pioneer an Emerging Leaders Summer School 6th Jul 2022 Raise Ventures on a mission to empower the next generation of business leaders and founders with the launch of their pioneering Emerging Leaders Summer School.
- Ulster Bank Funds Diverse Entrepreneurship 5th Jul 2022 The recipients of the 2022 Ulster Bank Enterprise Fund are announced, each aiming to promote and encourage entrepreneurship amongst underrepresented groups.
- New campaign launches to address disproportionate lack of support for disabled entrepreneurs. 5th Jul 2022 Leading disability-focused organisations join forces to launch the #Access2Funding campaign - calling on the VC and investment community to improve the representation, opportunities presented to and experience of disabled founders.