Luxury and its art investments

Luxury and its art investments

Many Luxury houses are investing in art or historic buildings or are using art in and around their brand. What is the exact reason behind this? Is it to attract more clients? Or to honour their heritage? Like everyone always says Luxury is a dreamy world, but the atmosphere around the brands should be dreamy as well. Mr Muller-Otvos chief executive officer of Rolls Royce Motor Cars says ‘For one thing it has helped to deepen relationships with existing customers, including many who are art collectors, and also to attract new, who they might not otherwise reach (N. Koenig, 2017). Of course every collaboration or investment is planned very carefully and has to match the vision of the brand.

A few examples of Luxury brands using this technique is Chanel who has a partnership with the Grand Palais in Paris and being there exclusive sponsor. Fendi who funded the restoration of the Trevi Fountain in Rome. Rolls Royce art programme which contains paintings, sculptures and installations. These are just a few examples of the many collaborations and investments of Luxury houses.

Written by Rémy

Sources:
Koenig, N. (2017, July 17). The luxury firms using art to sell. Retrieved November 14, 2018, from https://www.bbc.com/news/business-40592986
The Editors of Art Market. (2018, January 23). Why Art is the Cornerstone of Luxury Brands. Retrieved November 14, 2018, from http://artmarketmag.com/why-art-is-the-cornerstone-of-luxury-brands/

2018-11-14T15:12:34+00:00