What It Takes to Power Luxury Brand Collaborations

In the past, brand collaborations with an established company were a favored tool of start-up companies looking to fuel growth and gain access to a ready-made customer base. But we have recently seen an increase in long-established luxury brands, with sizable customer bases of their own, collaborating to reach new target markets and provide their loyal customers with something new, exciting and different. What are the benefits and drawbacks of brand collaboration, and which factors most affect the viability of a collaboration? Access to a New Target Market The ability to gain access to a new target market is perhaps the greatest benefit and main motivation behind many brand collaborations. In 2017, Louis Vuitton debuted its collaboration with New York-based skate brand Supreme at its fall 2017 men’s wear show in Paris. News of this collaboration arrived with much fanfare among streetwear and high fashion enthusiasts alike. Louis Vuitton has, for decades, been the epitome of luxury clothing, ever-popular among Baby Boomers and Generation X. By attaching to Supreme, whom many will argue is the epitome of cool, the brand was able to gain the attention of a younger, style-conscious, Millennial market. To say the Louis Vuitton x Supreme collaboration was a success is an

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