Celebrities transforming into brands is not a new phenomenon, but they may have just perfected the art of the collab. With Kanye West’s latest 10-year Yeezy deal with Gap driving stock-price up by 42 percent, exactly how are celebrity brands and lifestyle influencers supercharging the consumer landscape?
Regardless of category, celebrities have made numerous new case studies as effective business partners for some of the biggest brands in the world, not to mention a major driver for consumer engagement. But nowhere is this more prevalent today than in fashion and lifestyle.
A celebrity's unique ability to add insight into product development as well as a whole new brand influence across both product and promotion, means brands partnering with new mainstream ambassadors through licensing and extension is opening countless new doors.
It’s not just West that is making big moves within global business. His wife Kim Kardashian-West made headlines last week with the impending launch of a new collaboration between her own beauty brand KKW and Coty. Virgil Abloh and ex-Teriyaki Boyz hip-hop artist turned-fashion designer Nigo are due to launch LV2, which represents an entirely new look for the Louis Vuitton brand, not to mention Abloh’s own unique collaboration with Evian. Drake and his OVO record label have teased a new Nike collaboration due for launch soon, and Beyoncé's Ivy Park collaboration with Adidas is already sold out.
How do these collaborations fire up new business for major brands pairing with celebrities? One of the key case studies is the sheer success of Rihanna’s Fenty brand. Having partnered with Savage, PUMA and struck big deals with LVMH for Fenty Beauty, the brand born from collaboration is now a major standalone powerhouse.
One of the core reasonings behind partnering with a major celebrity or upcoming influencer is access. Not just for brands looking to communicate with a celebrity’s audience, but for the audience to gain new points of access to high-end lifestyle brands.
A brand-new case study from the world of esports characterizes accessibility like never before, with Gucci creating a special-edition esports dive watch with the Fnatic esports team.
Growing year-on-year, 36 percent of fashion, lifestyle and accessory consumers purchase apparel and products to be part of a community (GlobalWebIndex) and with such extensive followings, the celebrity collaborators are vital to unlocking a brand experience and a sub-community of fans.
For more insights into successful brand extensions and game-changing collaborations, download the brand-new Brand XT report here.