- 7 years ago
- Wedding: May 2015
I’d be happy to explain!
I work in the luxury industry and have a masters in luxury business, so hopefully I can explain this haha…
Quite simply, Lulu is a luxury product. It was created to fill a niche for glamorous/luxurious athletic attire, aimed at a growing market segment of people who are affluent, and interesting in health/fitness as well as looking good. They have been very successful in this!
The key selling points of the line would be:
-higher quality/performance: while people may dispute this, the brand and it’s officianados would claim that the product is “better” than its competitors
-aesthetics: the products aim to be better-looking than average and more flattering to the body
-lifestyle: the brand “believes” in a healthy lifestyle and vague yogic spiritual enrichment. They are also famously size-discriminatory, and may also appeal to people who want to reinforce their personal or public idea of their own thinness.
-status symbol: it’s undeniable that wearing Lulu makes a statement
The people who buy the brand probably fall into one of the following categories:
-High Net-Worth Individuals: people for whom price is not an object and who may just automatically buy the “best” of everything
-Aspirational consumers: buying lulu would be a significant purchase for them, but they’ll do it anyway because they love luxury goods, have a particular fondness for some luxury brands, consider it “worth it” or would like to be associated with the idea of the brand. This is MANY of their customers!
-Connoisseurs: These people may not be very wealthy or the sort of person who regularly purchases designer goods, but they care a great deal about the brand’s category– e.g. Maybe this person is a yoga instructor who’d never buy a designer bag but will splurge on some lulu pants because she wears them every day.
I hope that’s as interesting to anyone else as it is to me!