#Larry fink blackrock book how to#

Other hard luxury sectors, in particular watchmaking and, to a certain extend, jewellery leveraged a similar business model. And it still remains a challenge, particularly in the luxury beauty sector where tiktok remains one of the biggest opportunities and risk from a luxury brand perspective (something that our social strategists from Folk - know well to deal with).Īt the same time, smaller luxury brands incl the royal manufactories in fine porcelain, silverware and crystals, always relied on high-net-worth individuals - loyal connoisseurs and collectors that had established a deep cultural bond with the brand and its (royal) heritage. The rise of social media, and particularly tiktok, imposed a major challenge as the need for user-generated, entertaining content imposes the highest stretch from the traditional, well-controlled luxury brand marketing approaches.

#Larry fink blackrock book how to#

One of the main challenges that was on the minds of senior executives leading heritage luxury brands was how to successfully rejuvenate the brand, gaining relevance amongst younger and more diverse audiences while retaining their loyal, more established clientele.

Not too long ago, luxury brands were generating most of their growth from millennial (first-time) buyers. BETWEEN ASPIRATIONAL SHOPPERS AND HIGH-NET-WORTH INDIVIDUALS