“Quality is remembered long after price is forgotten,” a saying embossed in gold letters on pigskin plaques and displayed strategically around Gucci stores.
Just one of the key lessons the House of Gucci has to offer any entrepreneur looking to market to the wealthy and the top-end -of-town.
Recently I went to see the movie “The House of Gucci” and in this podcast I outline the marketing lessons that made an impact on me.
Transcript:
The House of Gucci starring Lady Gaga and Al Pacino is the best luxury marketing tutorial money can buy.
“Quality is remembered long after price is forgotten,” a saying embossed in gold letters on pigskin plaques and displayed strategically around Gucci stores.
Throughout Gucci’s 101-year history the fashion retailer’s popularity has waxed and waned, its business results have faltered and rebounded. The one thing that has remained constant “everything must be perfect”. “Even the bricks in the walls must know they are Gucci’s!” said descendant Aldo Gucci (Al Pacino).
“In order to sell style, we must have style!”
After opening its New York store, VIP Gucci clients were granted Gucci’s gold-plated key granting them access to the “Galleria”.
Here, VIPs were graciously ushered over to soft taupe couches and easy chairs where white gloved waiters served coffee or champagne on travertine marble tables. Surrounded by originals by Modigliani, van Gogh and Gaugin, VIPs could choose limited edition Gucci designed jewellery or handbags made of precious skins and featuring 18 karat gold hardware priced from $3,000 to $12,000.
In no time at all, the little gold key – fewer than a thousand were issued – became a must have in New York circles.
Over time, Gucci has become the ultimate in class and imprinted as top-of-the-line chic, an interest piqued when Patrizia (Lady Gaga) met Maurizio Gucci for the first time!
Smile even when times are tough
“You may ask, where are the people to buy these things in a time of recession?” Aldo said to Women’s Wear Daily at the opening of the Galleria.
“ I have a saying about beautiful women,” Aldo continued, “Only 5 percent are truly beautiful. And it’s the same with people with affluence. They are only 5 percent of the population. But 5 percent is enough to make us smile.”
Or in Patrizia’s case after a nasty divorce, to “kill for!”
