Conde Nast Digital Day 2010 was recently held in Mumbai. The meet was organized in partnership with Campaign India. Digital revolution has created a huge storm and this storm will definitely change the world for good. No one is going to be spared, not even luxury brands. Top people from digital world discussed the role of paid, owned and earned media and its impact on luxury brands.
According to James Bilefield (in the picture above), president of Conde Nast International – Digital, most luxury brands will have to re-invent themselves as creators of content. They will be perceived and judged by the creative content they create and project. He cited the example of luxury brand Burberry which has created an awesome digital content with live streaming of their shows and collection launches. He believes other brands will follow suit. The true challenge however will remain reaching right target audience.
Hari Krishnan, country head, Linkedln gave Indian context and perspective on the issue. He felt there is still a certain degree of confusion among luxury brands about foraying into digital world. Jordan Khoo of MediaMind had a different opinion on the matter. He stressed on the fact that luxury brands have an added edge because of their strong presence in earned media and they have resources to invest in paid media. Overall it was a lively discussion on future of luxury brands and digital media. Check out video of discussion given in the link below.
via Campaign India