Luxury labels have put a renewed focus on provenance over the past year in an effort to boost international sales.
According to Ledbury Research’s biannual Luxury Market Insights report, brands are associating themselves with iconic domestic landmarks to make themselves more attractive to global consumers. Examples include Italian labels Fendi and Tod’s, which have emphasised their origins by paying for the upkeep of iconic Roman sites such as the Trevi Fountain and the Colosseum in return for publicity.
Luxury analyst Nicola Ko said: “Brands want to help their own economy and at the same time boost their own heritage.” Ko flagged up Burberry and Mulberry as two brands that have had particular success in promoting their British roots by emphasising their local production.
The global luxury industry grew an average of 10% in the second half of 2012 to reach total sales of €59bn (£49.8bn) for the full year.
Ko also noted there had been a shift away from Asia as the “emerging hot spot” for luxury growth.
Ledbury has identified Jordan as the country with the biggest growth potential in the medium term, with brands including Burberry and Louis Vuitton opening stores there in the past year.