What brand today doesn’t want to show itself in a new light by setting foot in markets it never imagined it could enter? While collaborations have become so commonplace that they struggle to attract attention, brands’ growing attempts to venture outside their home territory could well represent a new form of expansion.
For them, it is not a matter of finding new growth opportunities, but rather of surprising their regular customers and creating buzz by demonstrating their ability to reinvent themselves without losing momentum. While collaborations embody shared values and expertise, cross-sector extensions allow brands to showcase their ability to achieve the coveted status of ‘lifestyle’ brands. This is a response to consumers’ desire to express their identity through their purchases.
This temptation naturally affects luxury brands first and foremost, as their strong image allows them to be considered in every possible aspect of daily life. After investing heavily in the (highly profitable) eyewear and cosmetics sectors, they are now turning their attention to hotels, restaurants (Dior, Vuitton) and even food: in California, the fashion brand Von Dutch is already developing immersive coffee shops with its own range of spirits, soft drinks and coffees.
Meanwhile, hospitality companies are showing an interest in fashion, with the Ritz now offering a line of cashmere clothing and chic sports accessories. Luxury car manufacturers are no exception. Bentley is investing in real estate projects bearing its name, while Porsche is targeting everyday life through its recent partnership with Italian appliance manufacturer Smeg to offer a retro-style refrigerator with a handle identical to that of an old 911, as well as a coffee machine, toaster, kettle and blender in its iconic colour palette.
To think that there was a time when marketing experts only talked about DNA when it came to expanding territory… DNA is something that brands need to break free from as quickly as possible if they don’t want to find themselves trapped and ultimately die from an inability to create surprise. Time for disruption, shifting and amazement.