High Fashion High Tech

Since most of my friends are talking about IT on their blogs, I shall hop on the boat and write something about IT too. Of course, I won’t forget about my luxury goods industry. This week, I would be looking at how high fashion can be high tech too.

In the past, luxury goods apparels and accessories are just apparels and accessories with a luxury brand name. It’s usually hard to find these luxury products related to technology of some kind… but not anymore. Some of the luxury brand companies seem to be interested in getting associated with technology (vice versa). They are either collaborating with technology firms to come up with new products, or trying to sell accessories related to technology products, or adding some kind of technology into their apparels… (I found some technological enhanced apparels designed by Hugo Boss that uses nano tech - Read).

Versace, the brand well-known for its edgy designs, has started a series of “technological luxury products” under brand name Versus. Through this product line, Versace hopes to become a trend-setting brand that creates a new market niche called the technological luxury. Their core concept being: “to create the next generation accessories that can interpret modern needs.” According to Dante D’Angelo, the company focuses on exploiting the accessories business instead of apparels because “(accessories) is a category that lends itself best to technological development.”

Other than the Versus cell phone, a product co-branded with Samsung, Versace plans to introduce leather accessories, fragrance, costume jewellery and eyewear, all with a technological edge. (I am really curious what technology they can come up with for these products).

In order to develop these technological luxuries, brand companies are joining forces with technology companies in the idea of co-branding. Companies from these two different and unassociated industries collaborate by contributing their core competencies. Luxury brand companies contribute by sharing their expertise on designing the product and packaging while the technology companies are responsible for coming up with the manufacturing of the technology and the product.

Here are some examples of where brands merge with technology:

Dolce & Gabbana pairs with Motorola – Razr V3i

In December 2005, Motorola, together with Italian designer Dolce & Gabbana launched a limited edition gold and black color phone, Razr V3i. Other than the phone, Motorola and D&G also offered a line of D&G phone accessories, including gold leather phone cases, gold Bluetooth headsets, and gold wired stereo headphones with a gold on-wire volume control. The phone was sold not only in major Motorola stores but also at select D&G boutiques.

The phone primarily targets consumers who are looking for “status” and style in a phone.

Versace pairs with Samsung – Samsung E500 Versus

In July 2006, Samsung launched the Samsung E500 Versus phone that was designed by legendary Italian fashion label Gianni Versace. The E500 phone is one of Versus’ pioneer products under the product line. The prime objective of their alliance is to create a product targeting younger generation of consumers who pursue originality in terms of style, innovation and practicality.

Prada pairs with LG – Prada Phone

In February 2007,LG Electronics and Prada, one of the world’s leading brands in the luxury goods industry, launched their co-branded iconic Prada phone. Through ready-to-wear and accessories, the CEO and President of Prada, Mr. Patrizio Bertelli looks forward to a break-through for their brand.

Swarovski pairs with Philips Electronics – Active Crystals
(Sneak preview to be available in June 2007)

In March this year, Swarovski and Philips Electronics also announced a partnership in developing consumer electronics that integrate technology with high fashion. The first range of products including sound systems and storage devices will be launched in summer this year, branded as Active Crystals. Through their collaboration, both companies seek to develop new market opportunities.

It seems like no industries can do without some kind of technology, not even those traditional ones. One by one, luxury brand houses are joining forces with technology companies to create some kind of product to satisfy the new potential market, answering to those who love beauty and at the same time can’t live without technology.

The co-branding strategy has proven rather effective for both the luxury brand companies and the technology companies. Both the technology companies and luxury brand houses have reported increases in their sales because of their new products. Motorola has credited the popularity of its Razr model phones for much of its 60.6 percent earnings gain in the last quarter of 2005. Versace Versus sales are estimated to reach €35 million by end of 2007.

It's definitely a wise idea to incorporate some kind of technology into high fashion products. After all, so many people are interested in technology gadgets. These products will help to attract gadget lovers or techies pay even MORE attention to their brands.
Whether it’s the fashion industry leveraging on technology or technology leveraging on luxury brands, it’s not clear anymore.