What is Gucci’s marketing strategy?
What is Gucci´s marketing strategy? Today, haute couture brands don’t think twice when it comes to joining a sustainability plan. That’s why this element is now part of Gucci marketing plan. Of course, it’s not the only one, as there are other tools. With them, the brand can reinforce its values as a globally recognized brand.
In fact, since 2015, they have set a very clear goal. This is to demonstrate their Gucci values and dedication to innovation through social sustainability to reduce environmental impact.
Similarly, Gucci has managed to take the best elements of digital marketing. Because of this, it remains one of the most valuable luxury brands of all time.
So, we already know the first marketing strategy of this brand, sustainability. In the same way, throughout this post, we’ll take a look at this brand’s other strategies. All of them allowed this brand to reach the first places in the world of haute couture.
What is the history of Gucci?
The designer Guccio Gucci founded this brand in 1921, Florence, Italy. Since then, his contribution to fashion has been indescribable.
In the middle of its history, it’s worth noting that this brand had a decline that marked a before and after. Today, we can guess that it was due to not having a well-established business plan. This happened in 1994 when the brand found itself adrift. However, a young designer known as Tom Ford came to take over the reins of this fashion house. It’s thanks to its aesthetics, that the firm returned renewed and updated towards a more fashionable style.
In fact, “Porn Chic” was the name given to the Gucci campaign that indeed caused a sensation and managed to engage its target audience, so much so that this firm was revalued at $5 billion.
In 2004 Ford left the brand and Alessandra Facchinetti and John Ray took over until 2006. This is when Frida Giannini became the creative director. For this occasion, the strategy was to reinvent this brand’s characteristic flora print. Besides that, they also redesigned some classic accessories. This plan was effective, so much so that in 2014 the brand was valued at 10,385 billion dollars.
However, the designs created by Giannina were criticized and the brand’s consumers weren’t so attracted to them. As a result, the brand’s valuation dropped to 8,882 million dollars in 2015. Because of this, Alessandro Michele took over Giannini. Today, he’s still the creative director of the men’s and women’s collections of the Italian brand.
What are Gucci’s strategies?
Alessandro Michele, upon becoming creative director, was in charge of rebuilding the entire aesthetic of the brand. His goal was to highlight the timeless genre and the brand’s characteristic vintage icons. Besides, he added to effective Gucci marketing campaigns the inclusion of archetypes detailing race, age, gender, and orientation.
In the same way, he took into account other elements that were important for the brand’s identity:
- The contemporary touch is marked by Gucci icons in the best vintage style.
- The recovery of the characteristic logo with the interlocking G.
- The integration of the icons popularized the firm.
These three elements made this luxury brand more recognized by 2019. Thus, reaching a growth rate of 23% and a brand valuation of 15,949 million dollars.
As you can see, this highly prestigious brand focused for several years on using marketing strategies to maintain its position as a distinguished fashion house. That’s why, when doing a study of Gucci marketing, we cannot ignore the fact that two of the most important strategies are visible today:
Add value to the brand
It’s important to detail the fact that just by making the identity of this brand visible, its valuation was doubled in just 4 years or since Michele assumed the position of creative director. As a result, this could be one of the strategies that work the most in haute couture.
Use the internet
Haute couture experts have announced that the great success of the Gucci brand is also related to the use of social media. Of course, the issue isn’t that they use this communication channel, but how they do it.
Through this digital marketing tool, this brand has managed to maintain the connection with its audience and attract the younger audience. By doing this, they have also achieved important collaborations with celebrities such as Harry Styles, who since 2020 has been an influencer of Fashion.
Similarly, to get more out of social media, this brand has been associated since 2017 with the Shadow Millennium Committee, which is made up of people up to 35 years of age who are in charge of providing better feedback on it.
We started this blog by talking about this marketing strategy.
After all, today it’s part of the business plan of many luxury brands. In the case of Gucci, the objective through this element is to promote diversity and keep alive the custom of traditional traditions.
Besides, another objective is to keep the work team within an environment to provide better care.
What is the added value of Gucci?
Although Gucci’s direct competition is also highly appreciated in the world, Gucci is currently number one in the ranking as the most valuable couture brand.
This is because compared to last year its value increased by 12%, which would be $33.8 billion.
It’s important to mention that the value of Gucci has managed to stand out since 2018 due to the marketing strategies it implemented. That’s why, if you wonder why Gucci is the most successful luxury brand in Italy, the answer would be that this fashion firm has known how to use advances in technology very well.
Because of this, they haven’t stopped using Instagram and other social media platforms to share updated content related to their new collections. This way, they maintain constant communication with their target audience, and at the same time have been able to attract the attention and interest of a new generation.
Of course, so that Gucci can continue with a business plan based on a good communication strategy, it works together with a group of professionals in the area of marketing and advertising. This is one of the reasons why the brand has made the best decisions to maintain its value.
Who is Gucci’s target audience?
Targeting a specific audience is one of the marketing actions that must be part of a luxury brand’s business plan, and Gucci knows that very well.
That’s why Gucci’s customer profile focuses on a group of people with high status, that is, with a good economic position. This is because not all customers can afford the price of an haute couture garment.
Gucci’s main customer’s bases are businessmen or celebrities.
All these are people willing to pay for an expensive garment with such distinction and exclusivity.
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