Luxury goods and services companies who tie their brand to popularity of celebrities as ambassadors of their brand as a luxury brand strategy, run the risk of the celebrity falling out of good graces with their target market, But some iconic personal celebrity brands endure over time and sometimes outlive the person who is actually branded. Judy Garland and Marilyn Monroe are two cases in point.
Salvatore Ferragamo became a famous name in fine footwear and other leather goods such as handbags as a result of courting internationally known celebrities. One-of-a-kind shoe styles designed expressly for certain celebrities and royals can be viewed in the museum of their flagship store in Florence, Italy on Via Turnabone.
But, great global luxury brands like Ferragamo understands the importance of staying current, reinventing themselves and not resting on their laurels. This is evidenced by their exclusive line of Ferragamo Creations, which are reproductions of shoes and handbags from their museum, sold in limited editions.
The first image is the famous “Rainbow” shoe designed for Judy Garland and the next is the shoe designed exclusively for Marilyn Monroe. To make this offering “au current” Ferragamo also created a miniature of the shoe as a “charm” that can be worn around the neck. When you pull apart the charm you discover that it is actually a computer flash drive. Brilliant idea—a conversation piece that is truly buzz worthy!
It is not for everyone and Ferragamo (and certain customers) want it that way. Si, if these shoes fits, wear them!
Staying current and reinventing yourself is an intricate component to personal and company branding if you want to sustain market leadership over time. What are you or your company doing to stay relevant, to re-invent yourself?
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