Birth of an Heirloom Brand, Marketing & Advertising News, ET BrandEquity

In a world full of talk of money and whispers of wealth, luxury and heritage brands are avoiding the cacophony of fast fashion and short-lived trends, and instead opting for the tranquility of “new age minimalism,” which focuses on understated elegance. I like it.

According to Google data, searches for “old money style” have increased by 568% over the past year, while “quiet luxury” and “stealth wealth” have increased by 373% and 334%, respectively. And it is likely to continue as one of the top trends of 2024.

Interestingly, the basis of “quiet luxury” is investing in heirlooms – items that have been passed down from generation to generation.

Steps between generations

Auction house Christie's is no stranger to the world of heirlooms. The most recent is the auction by Chaumet of Bessborough's tiara, which first sparkled at her two coronations: George VI in 1937 and Elizabeth II in May 1953.

François Curiel, chairman of Christie's Europe and Asia, told Brand Equity that there is one key element to calling something an heirloom, whether it's a watch, jewellery, artwork or even a car: legacy. Yes, he said.

“This tradition reflects exceptional craftsmanship, design excellence and endless continuity that is relevant to the generations you are targeting, and last but not least, celebrating the history of the brand. ,” Curiel said, adding that over the past couple of years, As the decades passed, the world's important jewelry brands began to build traditional collections. “Five years ago, who would have thought that Christie's would be selling thousands of pieces of jewelry online, with estimated prices ranging from $10,000 to $2 million?”

In a familiar place, the diamonds of the Golconda mines come to mind. “These stones are the greatest in the world and have all the fascinating stories and rich history to tell. If they could speak,” he says.

For luxury brand Montblanc, it is its “incomparable savoir-faire” that has helped the brand, founded in Berlin in 1906, achieve its heirloom status. “Writing instruments from Hamburg, leather goods from Florence, watches from Villeret and Le His Locles — each of our pieces reflects the story of a master craftsman,” says Neerajwalia, his CEO at Montblanc India. Masu.

It may not be obvious that cars are heirlooms, but Lamborghini India head Sharad Agarwal says their brand is truly an heirloom. Once purchased, it is a heirloom that is rarely sold. “We always say it's not a car, it's an experience and a work of art,” says Agarwal. “Our customers never think it's a 'good investment'; for them it's a dream, a treasured asset. This is why all of our models are iconic. You want to own them, but you never sell them.”

marketing the past

But how can brands stay relevant and stay on top of their traditional game? New York-based fashion and costume designer Bibhu Mohapatra explains it best. Masu. “Women want something they can enjoy wearing today. They don't want a piece that stays in their locker forever.” For brands, this means careful modernization.

“Partnering with new brands can help traditional brands tap into a younger, trend-conscious demographic,” says Mohapatra. “This allows us to expand our customer base and connect with consumers who may be attracted to more contemporary styles. Collaborations act as a bridge between generations.”

Breitling CEO Georges Kern says that their brand's heritage is part of their marketing strategy, a way to tell the story of their product's inspiration and make customers part of their continuing legacy. It states that there is. Since their relaunch in 2017, they've been looking for that extra edge to stay relevant and fashionable. “We don't want to be a vintage brand, we want to be a modern brand anchored in the past, because other brands would die to have a history like ours. That's why. We consider balance when creating products that are inspired by our rich heritage, yet fit with modern aesthetics and the brand's vision for the future,” says Kahn.

No one wants to rest on their laurels and survive, Kriel said. “They are [the brands] Traditionally modern and trendsetting, these brands need to remain relevant and inspiring if they are to maintain their status as heirlooms,” Curiel explains.

Aligning core values ​​and goals is essential, Walia said, adding that “collaboration can bring fresh ideas with new perspectives.”
Kahn agrees that shared values ​​are paramount. “For example, Breitling’s partnership with sustainable clothing company Outerknown is in line with our commitment to improving environmental conditions.”

As Lamborghini demonstrates with a program called “Polo”, the past is reflected in the present, restoring classic models to their original state. “Our designers and technicians restore cars based on the design and technology of the time the car was sold. Lamborghinis can be passed down from generation to generation, or they can be put up for auction at any time.” says Agarwal.

Jay Sagar, jewelry expert at Astagle Auction House, says there are quite a few aspects that come into play when determining what constitutes an heirloom.

With input from Shannon Tellis and Mukta Lad