How to Launch a Luxury Startup

Рет қаралды 133,293

7 жыл бұрын

So you want to launch a luxury brand? Learn exactly what it takes to launch a luxury startup - from positioning your brand to choosing the right marketing strategies.
Takeaways:
1. Understand what customers want.
2. Look at the competitive matrix.
3. Get significant startup capital together.
4. Be in it for the long-haul game.
5. Set it up for customers to engage with your brand in at least 6 touchpoints.
Recommended Reading
"DTC Update: The Latest Direct-to-Consumer Business Models and Strategies"
blog.scalingretail.com/dtc-upd...
"How to Create a Lifestyle Brand"
blog.scalingretail.com/create-...
Check out the Scaling Retail website for more business e-commerce and retail tips, reviews and more: www.scalingretail.com/
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Twitter: / scalingretail
Facebook: / scalingretail
LinkedIn: / nyc-retail-consultant

Пікірлер: 175

@ScalingRetailConsulting Ай бұрын

Ready to launch and scale your retail business? Watch now this next video: kzfaq.info/get/bejne/e5eSfbyZtpjHpIk.html

@jeffkevinsankeu5699 5 жыл бұрын

great tips. thank you.

@ScalingRetailConsulting 5 жыл бұрын

Thanks for watching!

@SilkySaks 7 жыл бұрын

Enjoyed this video. Gave a lot of things to think about

@ScalingRetailConsulting 7 жыл бұрын

Thank you, I'm happy to hear that! You can find more resources at ScalingRetail.com.

@romavictoriano 5 жыл бұрын

Thank you! This is so helpful.

@ScalingRetailConsulting 5 жыл бұрын

Thank you Yumi for watching. We love to hear that our content is making a difference.

@ColletteSmallofficialmusic 5 жыл бұрын

thank you this was very helpful!!

@ScalingRetailConsulting 5 жыл бұрын

Thanks for watching!

@natashaedwards 6 жыл бұрын

You are amazing I’m learning so much

@ScalingRetailConsulting 6 жыл бұрын

So glad we bring something to the table for you. Thanks for following!

@Iwillheeltheworld 6 жыл бұрын

This has been helpful.. I shared your post to a few friends

@ScalingRetailConsulting 6 жыл бұрын

Thanks a lot, Fred! Have a great week.

@raychelleinjete4024 3 жыл бұрын

Very resourceful content. Learnt alot. Thanks..

@ScalingRetailConsulting 3 жыл бұрын

Glad it was useful!, thank you so much for watching!

@SommyLogic 5 жыл бұрын

Your videos are really helpful!

@ScalingRetailConsulting 4 жыл бұрын

Thank you so much! I really appreciate the positive feedback

@saturntheplanet22 3 жыл бұрын

Thanks for the tips!

@ScalingRetailConsulting 3 жыл бұрын

So glad we could help you!

@chloeserfaty1054 7 жыл бұрын

Just love your videos, all you say is very true and interesting to be remembered. Thank you

@ScalingRetailConsulting 7 жыл бұрын

Chloé Serfaty thanks for watching!

@savindurrathnayaka7537 5 жыл бұрын

Really helpful video,subscribed just now

@ScalingRetailConsulting 5 жыл бұрын

Thanks for watching!

@d2uk2e 4 жыл бұрын

amazing video!

@ScalingRetailConsulting 4 жыл бұрын

Thank you so much :)

@kairi3177 4 жыл бұрын

Awesome tips! Would like to talk with you more. Please put out more sessions

@ScalingRetailConsulting 4 жыл бұрын

Thanks for watching! I will be putting out more sessions soon!

@ALI_FA17 4 жыл бұрын

I want to make a luxury brand but only for myself, I don’t want it to be a business or some high company, I only want the brand to myself that’s how luxurious and rare it is.

@ScalingRetailConsulting 4 жыл бұрын

Ali Maximus Power you can do it!

@love-dk7ii 3 жыл бұрын

Wdym?

@ALI_FA17 3 жыл бұрын

@@ScalingRetailConsulting Thank you!! :) so far so good! God bless ALL

@joeblack6384 2 жыл бұрын

@@ALI_FA17 are you high?

@kuffdeeztv2214 2 жыл бұрын

Same reason I'm here

@graciouseflos.9219 6 жыл бұрын

thank you very much

@ScalingRetailConsulting 6 жыл бұрын

You're welcome!

@nirubansatchithanandakumar3266 6 жыл бұрын

hey ! never really got your name there, but fantastic video! As I'm watching it, i'm trying to figure out how to apply these principles onto fine-art (me being an artist), as there are similarities, in terms of buyer profiles and price-points.

@ScalingRetailConsulting 6 жыл бұрын

Thank you so much for following! We think it's so cool that what we have to share can be applicable to fine arts. Please don't hesitate to reach out to us as at hello@scalingretail.com

@chantellea9938 6 жыл бұрын

The tips you've given in this video to complete in the luxury market, would you say the same rules apply for here in the UK?

@ScalingRetailConsulting 6 жыл бұрын

Hi, thanks for watching! Yes, our content is intended for a global audience. You'll find these principles can apply to luxury markets around the globe.

@ShotsMerkzAll 3 жыл бұрын

it would be nice if you spoke about finding investors, partners and how to build a team.

@ScalingRetailConsulting 3 жыл бұрын

It's a video topic I'll make a video on in the future!

@lalilalo2199 4 жыл бұрын

Its was helpful, lets make something special super rare & worldwide selling!

@ScalingRetailConsulting 4 жыл бұрын

We Es thank you so much for watching. I’m glad it was helpful.

@levaughnhardie7727 3 жыл бұрын

Thank you

@ScalingRetailConsulting 3 жыл бұрын

Thank you so much for watching!!

@alexishollins8623 5 жыл бұрын

Very helpful! I will be emailing you asap!

@ScalingRetailConsulting 5 жыл бұрын

We're glad to help! Thank you for watching!

@mohammedfaraz2685 3 жыл бұрын

I am from India and I like to start a designer wear bridal wears suits for both men and women any suggestions??

@siddharthshah4220 3 жыл бұрын

Hey, Syama Thank you for the tips. Would love to know more about "6 touch points" thing. Can you please point me the right direction?

@ScalingRetailConsulting 3 жыл бұрын

Send me an email at Hello@scalingretail.com and maybe I can help point you into the right direction.

@vpeso2161 4 жыл бұрын

Beautiful

@ScalingRetailConsulting 4 жыл бұрын

Thank you so much! I really appreciate the positive feedback

@DylanEscobar 5 жыл бұрын

Hey I am Dylan and I am 16 at the moment. I really want to make a brand later that is going to be between normal brands and luxury. Pricepoint between tommy hilfiger and versace for example. The biggest problem I have when I am making a game plan for myself is the making of the product. How can I find a good place to let them produce my product and how do I find a place that delivers the best quality? Do I need to have more contacts in brands for that? Thank you for reading and the nice video!

@ScalingRetailConsulting 5 жыл бұрын

Hi Dylan, finding the best manufacturer for their brands is definitely one of the greatest challenges brand owners face. Even well-established brands have to change or add new manufacturers at times, and many of them struggle here too. Recommendations from trusted sources are always great and you can meet and discuss needs/fit with manufacturers at reputable trade shows. Websites like Maker's Row share manufacturer listings which can be very helpful. Just make sure you vet any potential mfgr. partners. Best of luck!

@laurajshape 7 жыл бұрын

Loved this. Thanks so much for posting, Syama! I especially found a few of your points helpful - that you should be prepared to be in the game for a while, maybe even a few years, before you see your sales take off, and customers need to be exposed to your brand via multiple touchpoints before they'll be willing to buy. I need to really think about this second idea and decide what all of my touchpoints should be. Do you think the various social channels equal different touchpoints (e.g. would Instagram, Facebook, and Pinterest count as 3), or would you group them together into one?

@ScalingRetailConsulting 7 жыл бұрын

Hi Laura, Thanks for watching! I would parcel out your social media - since they should all have a different strategy. IG should have different content and goals than FB or Pinterest. Best, Syama

@JWW10666 4 жыл бұрын

People always say luxury and premium brands have very high marketing cost but they forget to mention the cost reduction in other front-end segments of the business such as customer service when in comparison to an economy brand.

@ScalingRetailConsulting 4 жыл бұрын

Great Advice, Thank you so much for watching!

@linejrgensen4116 2 жыл бұрын

Anyone who got the name of the sustainable design house she talked about at 2.35?

@annawaseem8790 6 жыл бұрын

Hi, I am launching a face serum, i would require a lot of help, would you be able to help me? Thanks x

@ScalingRetailConsulting 6 жыл бұрын

Hi there! Please feel free to contact us at hello@scalingretail.com so we can get a better understanding of the needs of your business.

@ddoris4118 5 жыл бұрын

Greetings from New Zealand. Please let me know how to spell the name of one of your favourite design houses. I thought you said "Miette" but I cannot locate it via Google. Clarification by way of spelling would be most helpful. Thank you so much.

@ScalingRetailConsulting 5 жыл бұрын

Hi there, thanks for watching. The name is spelled: Maiyet. Hope you have a great rest of your day!

@AneesaQureshi 6 жыл бұрын

Really helpful! Xx

@ScalingRetailConsulting 6 жыл бұрын

Hooray, thanks for watching!

@mikayxx2566 2 жыл бұрын

Hiii!! I want to start a luxury brand and be as big as Chanel or YSL, but at the same time I also want to pursue medicine. I don't think I can dabble with both careers but I really want to go in both the med and business field. Do you think I can do it or not?? Can you give me suggestions too? (if possible)

@ScalingRetailConsulting 2 жыл бұрын

Just keep working on it. If it's something you really want to do put a little bit of time into it everyday. good luck!

@richardunachukwu11 5 жыл бұрын

Hello syama! Can a luxury start up deploy a b2b and a b2c at the same time as its distribution strategy?

@ScalingRetailConsulting 5 жыл бұрын

Hi Richard, sorry we missed this comment somehow! Are you referring to selling both retail and wholesale immediately at launch? If so, you definitely can.

@jomx 3 жыл бұрын

Hello, great video! I always wondered how luxury brands do with exclusive pieces. Let's say a company wants to number a specific jacket model and only produce 50 in total. Each jacket would have a designated number on them, so for example, 13 out of 50, etc. With the different sizes (XS, S, M, L, XL) how should these numbers be assigned to this luxury exclusive piece of the collection? Hope you keep being active on this channel I have tons of questions...

@ScalingRetailConsulting 3 жыл бұрын

And we have tons of answers. Thank you so much for watching!!

@jomx 3 жыл бұрын

@@ScalingRetailConsulting is there anyway can I expose my questions to you guys? 🙂

@ScalingRetailConsulting 3 жыл бұрын

@@jomx If you'd like to get in touch with someone part of the team, send us an email at hello@scalingretail.com

@jomx 3 жыл бұрын

@@ScalingRetailConsulting I sent an email!

@ScalingRetailConsulting 3 жыл бұрын

@@jomx talk to you soon!

@aricsebastian6672 3 жыл бұрын

I'm going to start Making Handbags for my Brand, Aric Sebastian

@richardunachukwu11 6 жыл бұрын

Hi! What should be the average markup for a luxury fashion brand?

@ScalingRetailConsulting 6 жыл бұрын

Hi there! Our blog post "5 Ways to Make Your Brand Attractive to Wholesale Buyers" talks about pricing your products properly. You can check it out at blog.scalingretail.com/5-ways-make-brand-attractive-wholesale-buyers

@binitapal7816 3 жыл бұрын

What could be the budget for whole startup ?? BTW that was a great tip ...Thank you

@isabellacarusi1119 5 ай бұрын

$500-$50,000 for fashion if that helps also depending on the resources factor this could fluctuate.

@dmac121151 5 жыл бұрын

What was the name of the young luxury brand that you named as a example?

@ScalingRetailConsulting 4 жыл бұрын

I believe it was Miyat.

@SARCASTiiK 3 жыл бұрын

I need to know what color lipstick your wearing. Very chic.

@ScalingRetailConsulting 3 жыл бұрын

I can't recall, but thank you so much!

@mehmeterkan9193 4 жыл бұрын

You should by a quality mic and not a luxury one 😊

@ScalingRetailConsulting 4 жыл бұрын

I'm glad you enjoyed the content! Thank you for watching!

@alandreareynolds Жыл бұрын

Buy*

@mrel8698 3 жыл бұрын

Hello, is it possible to launch a Luxury brand without a offline store, and only base on online(online retail)

@ScalingRetailConsulting 3 жыл бұрын

2 - E-comm only brands are becoming more and more common, so it's certainly a viable option. For some more info on getting launched & e-comm, have a loos at these videos as well: kzfaq.info/get/bejne/fc-imKyqsbrQpIE.html kzfaq.info/get/bejne/ZsVoa8iAz7_Uep8.html kzfaq.info/get/bejne/mNuqaaSD2biWZ30.html kzfaq.info/get/bejne/edlhrNKWpsmVZ3U.html

@jooky87 6 жыл бұрын

Good explanation on why not to start a luxury brand.

@ScalingRetailConsulting 6 жыл бұрын

Depending on your business, it could be the next big move or maybe something you need to wait a beat to do. Thanks so much for watching!

@krishnendhuchakra6358 6 жыл бұрын

Impressed and Subscribed !

@ScalingRetailConsulting 6 жыл бұрын

Thank you Krishnendhu!

@krishnendhuchakra6358 6 жыл бұрын

Scaling Retail waiting for more videos regarding strategies.

@karinaanicolee 7 жыл бұрын

Could you please comment, which brand was it you said you like? Thanks in advance :)

@ScalingRetailConsulting 7 жыл бұрын

It's Maiyet!

@eduardo42897 2 жыл бұрын

Smart lady.

@ScalingRetailConsulting 2 жыл бұрын

Thank you!

@franklopez6840 5 жыл бұрын

This is wonderful content!! Very insightful and concise. Would love to get some feedback from you and connect.

@ScalingRetailConsulting 5 жыл бұрын

Thanks Frank, send us a message at hello@scalingretail.com. Hope you have a great weekend!

@franklopez6840 5 жыл бұрын

Scaling Retail you as well, thank U for the reply!

@Iconmuse 3 жыл бұрын

I know it’s unfortunate that I can’t make a brand to be in the Heritage section BUT I want my brand to be seen and viewed as a very big and high brand as big as Chanel but might not be a heritage. Just a brand that people will see as quality and authentic as other big brands. Sometimes I get intimidated by these big brands and wonder how I can be this BIG 😓 Do you think it’s possible to be as successful as these big brands? 😣

@ScalingRetailConsulting 3 жыл бұрын

Of course, sometimes it just takes a little bit longer, but anything is possible if you put the work into it.

@KymKiswe 3 жыл бұрын

Your business can be heritage but not now. It will be heritage in 100 years or 200years but you have to make sure it’s going to passed down.

@Iconmuse 3 жыл бұрын

@@KymKiswe yeah I know... but I really want my brand to be as respected and quality as these big brands ☺️ does it have to be heritage before it’s known as a quality brand?

@loveyourself954 2 жыл бұрын

You know what I just subscribed ur channel , cuz I took a look on it n it's content impressive. & ik u can achieve ur goal no matter what. Trust urself , move forward. GOD BLESS YOU !!

@Iconmuse 2 жыл бұрын

@@loveyourself954 Thank you, I really needed that.

@allenl9214 5 жыл бұрын

Do you have any resources geared for an artisan jewelry business?

@ScalingRetailConsulting 5 жыл бұрын

Hi there, thanks for watching. We don't have resources specifically created for artisan jewelry, however, you'll find that most of our content may be applied towards most apparel, accessory and even home accessory brands. Feel free to visit us at www.ScalingRetail.com for more content.

@hamzaabdelrahim8344 3 жыл бұрын

Thank you! Very helpful. I also sent you an email.

@ScalingRetailConsulting 3 жыл бұрын

Thank you so much! We'll be in touch with you shortly!

@isabellabjerke6201 3 жыл бұрын

How many pieces would you recommend to have for launch? because of my budget and because I value quality and good working environments for the dressmakers way over quantity, especially at launch - im thinking small. but what is TOO small?

@carmelamouna7804 3 жыл бұрын

Did you get any answer?

@isabellabjerke6201 3 жыл бұрын

@@carmelamouna7804 No:(

@EM-vy9ik 4 жыл бұрын

Barneys is closing down 😖🥺

@ScalingRetailConsulting 4 жыл бұрын

Definitely a brand close to home!

@masuzua6305 4 жыл бұрын

Kudos for the Video! Apologies for butting in, I would love your opinion. Have you thought about - Panaylee Renowned Prepotence (Sure I saw it on Google)? It is a good one of a kind guide for finding luxury or designer goods at wholesale or lower prices without the headache. Ive heard some amazing things about it and my coo-worker at very last got astronomical results with it.

@ScalingRetailConsulting 4 жыл бұрын

No I haven't! I'll have to check it out. thank you for watching!

@nomadbound9610 5 жыл бұрын

the only relevant step is the last one. the first are the standard for ALL brands

@ScalingRetailConsulting 4 жыл бұрын

Thank you so much! I really appreciate the positive feedback

@ericr154 5 жыл бұрын

I would not have pronounced her name the same way she did 😶

@ScalingRetailConsulting 5 жыл бұрын

Live and learn.

@azrahcassim2560 2 жыл бұрын

Hiiii to scaling retail My name is azrah tai and Im in matrix at the moment I really have this dream of owning a luxury brand in the next 5to 6 years and I was hoping you ould give a few pointers on how to start one and where to begin Thank you so much.

@IdeaImplementation Жыл бұрын

Good information bad audio quality….invest in quality audio system

@albertabramchuk4719 5 жыл бұрын

Your Music is so distracting.

@ScalingRetailConsulting 5 жыл бұрын

Appreciate the feedback, will fix it in future videos.

@judywangui2061 3 жыл бұрын

Nice video content! Forgive me for the intrusion, I would appreciate your thoughts. Have you heard the talk about - Panaylee Renowned Prepotence (Sure I saw it on Google)? It is an awesome exclusive guide for finding luxury or designer goods at wholesale or lower prices without the normal expense. Ive heard some unbelievable things about it and my mate at last got great success with it.

@ScalingRetailConsulting 3 жыл бұрын

Sounds good. I’ll have to look into it. Thank you. 👏

@jasonRhawt Жыл бұрын

All you need is someone famous to introduce your brand etc kanye = off white justin bieber = fog and virgil = heron preston

@Cannonball62000 5 жыл бұрын

What on earth is that awful music about?! It is neither luxurious nor ambient. It distracts from your words and makes me think of an old computer game! Please remove it? I SO wanted to hear your message/opinions but instead I am going to click away to another youtuber. Please rethink your music in the future, no music would have been better than this choice.

@ScalingRetailConsulting 5 жыл бұрын

Thanks for your feedback, we'll keep that in mind in the future.

@jb-nk5pg 5 жыл бұрын

Cannon Ball it’s not that serious...