Luxury firms such as car firms, fashion brands or jewerly brands are heavily involved in art and culture. Brands are sponsoring individual artists or event hosting exhibitions. Collaborations between arts and luxury Maisons have established a closer connection between the two distinctive realms.
Why are luxury businesses getting so involved in arts and culture ?
First of all, it is a way to cultivate the brand, the brand DNA and to care about the image.
The italian luxury brand Fendi involvement with the arts extends beyond its headquater.
Indeed, Art fills metting spaces and hotel rooms above its Rome store. The firm has also helped restore the trevi fountain and reopens after $2.2 Million funded restoration.
In fact theses exemples shows that advertising is no longer enough to build brands image.
Moreover, other high ended brands are also getting involved in cultural ventures, Audemars Piguet has backed a series of artists including Sebastian Errazuriz (artist and designer born in Santiago.
Also, Rolls Royce has supported a series of artists through its arts programme.
Finally , we can conclude that Luxury firms that back artistic ventures say there are benefits beyond brand building They see projects as more akin to research and development.