2010 June 15
Meet Stacy Mackler, the executive vice president and chief marketing officer for Euro RSCG Worldwide Public Relations, and Chic Report recently caught up with the savvy EVP for lessons in marketing, which everyone needs these days, n'est pas?
The recession forced many brands to cut into their PR and marketing budgets. What to do?
Social media seems to have answered a lot of prayers through the recession. Ugc (user generated content) is huge and highly impactful. Fortunately, PR budgets are fairly small so we still see companies that see its worth!
How has the recession changed the business of PR and marketing in luxury fashion?
It depends on the brand. True luxe fashion brands like Louis Vuitton didn't feel an impact in sales and reported an increase at times throughout the recession. The wealthy appeared to still be buying throughout the recession. Ralph Lauren launched high-end watches and Hermes launched its most expensive silk scarf ever. Consumers still purchased! No need to change much of your marketing and PR plans if you're still making money...and there was more inventory at lower prices due to companies that did have to tailor back. If anything, perhaps they capitalized on consumers need for true emotional engagement and quality (and willingness to spend here) more than ever!
How important is it for brands to distinguish themselves as luxury brands?
If a brand is truly a luxe brand, it should always distinguish itself as such and not erode its credibility by positioning itself as anything but. If it is a brand that simply wants to play in the luxe space, it needs to have some of the attributes to do so or it will be detrimental in the long run.
How important is using web for marketing purposes?
If you're not digital, you're not in it to win it! It's not just important, it's essential.
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