China News Network, May 5 (Zhongxin Finance Zuo Yuqing) "This is the closest I have come to luxury goods." RECENTLY, THE JOINT ACTIVITY OF HEYTEA AND LV VUITTON'S ITALIAN HIGH-LUXURY BRAND FENDI (FENDI) RUSHED TO THE HOT SEARCH ON WEIBO, CAUSING HEATED DISCUSSIONS.
However, many people are also wondering why in the joint game of milk tea, high-luxury brands can't help but end?
High-luxury brands end "600 cups in front of the queue"
"I DIDN'T EXPECT THAT THE FIRST FENDI BAG IN MY LIFE WAS SENT BY HICHA." Recently, many netizens have sighed so much.
On May 5, Heytea and FENDI cooperated to launch a co-branded tea drink called "FENDI Joy Yellow". According to the WeChat mini program, a single cup of co-branded tea is priced at 17 yuan, while a limited model priced at 19 yuan (two cups) will give a co-branded peripheral badge or coaster if one of the two is selected.
Although joint activities of new tea drinks have long been common, the fate of high-luxury brands has still detonated many people's circle of friends. For a time, the co-branded paper bags printed with the FENDI logo became a high-luxury "replacement" and "must-have for hipsters" in the eyes of consumers.
On the day of the event, the online ordering mini program of many Heytea stores was full. Screenshot from Xicha WeChat mini program.
Zhongxin Finance noticed that on the day of the event, many Heytea stores had full online ordering mini programs, such as Beijing Juntai Department Store once queued more than 600 cups, Rongke Store and CapitaMall Xizhi Store exceeded 500 cups, Sanlitun Taikoo Li Store queued up more than 400 cups, and many stores sold out early or suspended online ordering.
Offline, the explosive order also attracted scalpers to "buy on behalf of others", and the price of a cup of co-branded tea was even fried to 60 yuan. Some netizens reported that they did not receive the joint peripherals for the limited money they bought on behalf of scalpers; On second-hand platforms, co-branded paper bags, peripherals, and even empty milk tea cups and cup sleeves printed with the FENDI logo have been resold at a markup.
CO-BRANDED MILK TEA FENDI'S "SELF-LOWERING IDENTITY"?
For this joint name, Chinese food industry analyst Zhu Danpeng believes that Heytea, which is positioned as a high-end tea drink, as one of the leading domestic new tea drinks, and the linkage with FENDI can be said to be a "strong combination". "The cooperation between Heytea and FENDI is of great value to Heytea's internationalization path, and the linkage of FENDI can also reflect its importance to the Chinese market."
You can experience the happiness of luxury goods for 19 yuan, which really makes Heytea earn enough dividends in the joint activity. However, in the carnival of the circle, there was no lack of doubts about FENDI: "Fendi and the 20-dollar single product co-brand, in my heart really pulled down Fendi's tonality." ”
Promotion of joint activities outside a Heytea store. Photo by Zuo Yuqing.
In the eyes of some fans, although FENDI is mainly for young consumers, the positioning of milk tea has always been an ordinary consumer product, and the "ultra-high-end" positioning that FENDI previously wanted to return to is not in line with this. Although this joint name has increased the exposure of FENDI, it has also made FENDI "drop the price".
In this regard, some insiders pointed out that cross-border co-branding is a means rather than an end, and this co-branding is only a part of FENDI's localized marketing, and it is difficult to shake the basic plate of the brand; The milk tea audience is broad, including many "potential stocks" of high-luxury consumption, which is expected to become the target consumer group of FENDI in the future.
Localized marketing Luxury goods are optimistic about the Chinese market
Zhongxin Finance noted that FENDI and Heytea launched a joint tea drink to promote the limited products with Chinese Yi characteristics in the craftsmanship art exhibition, "to express respect for handicraftsmanship and local traditional culture." ”
In the competition for market share of many luxury goods in China, localization has become the main strategy of luxury marketing. For example, Louis Vuitton House, located in Sino-Ocean Taikoo Li Chengdu, chose two historic buildings in western Sichuan and an open Chinese-style courtyard in Chengdu, and the store environment is rich in Chinese ancient charm; Diamond jewelry brand De Beers Jewellers launched the Miao Embroidery Project, inviting Miao embroidery inheritors to create Miao embroidery jewelry bags inspired by the iconic butterfly series.
Perhaps for luxury brands founded in the 20s, FENDI needs to capture not only young people, but also the Chinese market.
A FENDI store. Screenshot from FENDI official website.
As early as 2016, the CEO of FENDI's watch company Fendi Timepieces said that he was optimistic about China's luxury market, and said that he would increase investment in China and open more flagship stores in China's second- and third-tier cities or provincial capitals.
In April this year, FENDI's parent company LVMH Group announced its financial report for the first quarter of 4, showing that during the reporting period, sales in Asia except Japan increased by 2023% year-on-year, and revenue increased by 14% year-on-year, the largest increase among regions.
LVMH CFO Jean-Jacques Guiony said on a conference call that the fashion and leather goods division in China is growing by double-digit percentages, and the division will definitely benefit from a strong boost from the Chinese mainland market this year. "LVMH is very optimistic about the Chinese market in 2023, and the figures for the first quarter point to a good outlook for the rest of the year." (End)