Although there are a plethora of brands that sell similar product categories, Luxury brands have always managed to stand out amongst all for several reasons. People who have a penchant for luxury brands generally tend to prefer these brands because of a number of factors. These include, but are not limited to, cutting edge technology, user interface, ease to use, materials used, and in the current trend- environmentally friendly. However, the major reason that research has found as to why customers generally prefer Luxury brands when money is not a dominating factor is the brand factor, recognizability and visibility. People tend to choose luxury brands over generic common ones every time when given the option. What makes a luxury brand have such strong foundational standards that override any other factor?
It is no doubt that Luxury Brand Management plays an important role in this. Management is in fact what gives any brand the necessary push to cross the “differentiating line.” Any stellar brand has a riveting Luxury brand management working tirelessly behind it to keep up with competitors and brand name maintenance.
Some famous Swiss-origin luxury brands include Rolex, Swatch, Patek Philippe, Cartier and Chopard. These brand names are well heard off and have a turnaround of close to 100s of million USD every year.
Rolex history
Rolex is a brand name that etches itself beyond the constraints ever known to any industry. Over time, its luxury, affluence and greatly planned Luxury Brand Management based PR stunts, have made Rolex –not simply just another brand- but a revolutionary phenomenon.
Launched by Hans Wilsdorf and Alfred Davis in the luxury brand capital of the world- Geneva, Switzerland, Rolex established itself as one of the best luxury brands in the world, not only because of its impeccable design but also because of the company’s astute Luxury brand management ability that helped them take advantage of the economic system and outbid their competitors. These watches have been seen on the wrists of people like President John F. Kennedy, Paul Newman and even Barack Obama to name a few.
Swatch history
Swatch- a portmanteau of Swiss and Watch- is another well-known luxury brand based off Switzerland (Biel/Bienne, Switzerland). Not only is Swatch a great innovation that was introduced at the right time when the traditional watch industry was wilting for a change, but it also serves to remind us of the pinnacle of change and straying away from conventional practices that helped make this brand as successful as it is. Swatch managed to transcend the boundaries of the traditionally preferred watch and timepiece design and colours by opting for a bolder ‘fashion statement.’ The swatch line consists of several sartorial switches from that of more mechanical and older luxury watches. This well-researched move made by the luxury brand management department of Swatch had certainly paid off- In 1985, the Los Angeles Times noted Swatch’s increasing fame outside the traditionally conservative fashion horology industry by saying- “ [the Swatch watches] have become the hottest new fashion accessory on the market.”
Swatch’s Luxury brand management department can be praised as one of the most brilliant ones, with special art collaborations and connections. For example, they have launched several limited edition swatches in collaboration with famous artists like Keith Haring, Kiki Picasso etc. The value of these watches increases over time.
Switzerland is the perfect place to nurture budding luxury brand managers
With its broad and only growing luxury brand base, Switzerland serves as the best hub for Luxury brand management. Just as Silicon Valley is to tech industries and Barcelona or Manchester is to football enthusiasts, Switzerland is to Luxury Brands and Luxury Brand Managers. Switzerland provides the best learning environment for Luxury Brand Management, especially because of the everyday quality of life and living that is tantamount to 5-star luxury.
Colleges and universities in Switzerland provide a hub of diversity and world-class facilities.
A degree in Luxury Brand Management will position students perfectly for a career in the luxury sector. Ideal for young talents, career switchers and companies investing in their employees; the intensive courses, immersive learning and real-world internships will take careers and skillset to the next level. It aims to develop a framework of the essential elements for the assessment of how luxury companies adjust their services in correlation to their customers’ needs and behaviours. Students will develop an understanding of the luxury business market segment, including the definition of and the vocabulary to describe what constitutes luxury in a given product. During their studies, students will acquire the critical skills to identify potential new luxury products for a variety of markets. Their internships will also give them the base to make contacts and associations in an industry in which contacts and connections play a huge role.
Some of the highest-rated universities offering a Luxury Brand Management program in Switzerland are:
- Glion Institute of Higher Education
- Hotel Institute Motreux (HiM)
- Les Roches