Anyone who thinks fashion is inconsequential and doesn’t deserve serious attention must think again. Fashion is a strong force that has always played a significant role in the evolution of mankind’s society. As far back as the Egyptian, Greek and Roman Empires, fashion was a key social element that reflected the society through apparel, accessories and cosmetics. Fashion also had an influence on decisions regarding politics, economy, education and art.
In the ancient Roman Empire, the visual representation of fashion was so ingrained within the society that the ruling government decreed the models and colours of shoes worn by the members of each social class. Also during the early years of industrialization, wealthy Americans and Asians travelled to Europe to acquire luxury goods, boosting international trade and the expansion of the global economy.
In addition, the Grand Nobles of the Renaissance period and the aristocrats of the past centuries all stamped their significance and contribution to society’s evolution through fashion. The fashion tradition remains prevalent today, albeit in a modern way
So why write about luxury fashion branding?
The luxury fashion industry is a global multi-billion dollar sector comprising of a multitude of brands with high relevance. Among these are brands like Louis Vuitton, Hermès and Gucci. They are also among the most valuable and influential brands in the world. Despite the large size and income generation of the global luxury fashion industry, the sector has witnessed a slow growth in its strategic business direction.
This is because for a long time luxury brands were managed through traditional business methods where decisions were made based on intuition and sometimes on a trial basis. These traditional methods also featured a strong focus on product development and publicity generation through conventional advertising methods. However, the rapid development and complexity of the global business environment currently requires modern and sophisticated business practices in luxury goods management
A question of luxury
When you flip through the pages of a fashion magazine, what do you see? An array of luxury fashion advertisements, featuring colourful and alluring pictures of models displaying products that tease your eyes and sensitivity. When you switch on the television, you’re constantly bombarded with celebrity news and reality shows that touch your natural human craving to feel beautiful, important and recognized. The gorgeous people in the magazines and on television unconsciously speak to you, telling you that their lifestyle and material possessions like their clothes and accessories can also make you beautiful and help you become a part of their world.
All you need to do is to obtain the right fashion goods by the right designers. You then begin to crave the Gucci watch, the Louis Vuitton bag and the Chanel glasses, not to mention the Jimmy Choo shoes or the Bvlgari jewellery that beckon you every time you see a picture of a celebrity icon. Welcome to the luxury fashion land. You’re not alone but a minute part of a world that constitutes of millions of people that have been hooked by the luxury fashion fever called brand loyalty. Don’t worry, this is not a sickness and you’re not a victim but it is a part of the definition of your personality and lifestyle. In this world, it is not easy to make an exit because it is quite challenging to be logicalthinking in the midst of luxury fashion goods
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