Trans RINA, Vol 157, Part C1, Intl J Marine Design, Jan –Dec 2015
designers pitching designs to the top-tier customers on an exclusive basis. For high-value customers, creation in conjunction
ultimate in luxury. In this case the bespoke VVIP helicopter platform
with leading brands will represent the could
successfully within the be sold to high-value
customers as a semi-custom design where the interior is developed as co-design with the client. As this business model already operates
superyacht sector, yielding significant margins. The platform development cost of the Aston Martin SVT would require the high margin of semi-custom series production to
per the year could
Eurocopter/Hermes collaboration selling more than 10 models
recover the costs. Based on the devaluate the perceived
exclusivity of the SVT. In a market where purchasing decisions are increasingly similar, this will be a powerful differentiator. It will rebalance the relationship back towards
brand as the customer aspires to be
sufficiently valuable to gain preferential access. In this case the development of the Aston Martin Superyacht Vertical Tender (SVT) and motherhip, would enhance the perceived luxury value of the Aston Martin brand. Another key trend for luxury in 2020 [14] will be innovation, as on demand marketing will give customers access to a brand at the very point they need it. Combined with the predicted technological and societal changes, this will create new market opportunities in need of a rapid response from a brand, relying on their innovation agenda to propel their brand into products and experiences that differentiate them from the mass market. The new design meaning of the SVT and the associated lifestyle products differentiate them from the mass market. Innovation is a vital area of leadership for luxury brands, particularly as they seek to sustain or improve profit margins.
In terms of lifestyle, luxury is about offering an holistic brand experience, whereby a brand becomes a luxury- lifestyle brand. Fashion labels and luxury brands are keen to portray themselves as purveyors and curators of a “luxury lifestyle.” Some luxury apparel brands have expanded their product offering to include lifestyle products and service lines such as housewares, furniture, fine dining, hotels, and apartments. Many luxury brands have identified the lifestyle market as a significant growth opportunity. Through a research study, D'Arpizio et al. [15],
identified two dimensions in which brands
have expanded into lifestyle: touch points and categories. The touch-points axis captures the degree to which a brand leverages lifestyle in the content and formats it uses to engage with consumers. This includes point-of- sale materials, websites, and experiential offerings such as showroom events and exhibitions. The category axis shows the range of
products, services, or types of
experiences a brand offers beyond its original core product range. The research study suggest a pragmatic incremental approach to increasing both touch point and category is preferred for established brands. In order to achieve sustained success, a luxury-lifestyle brand must offer uniqueness and authenticity, building upon its'
heritage and identity. As part of the research, consumers expressed a common desire for something special and genuine. To this end Aston Martin a brand known for high-quality leather goods hand stitched by British artisans who have honed their skills over decades, can deliver both the interior trim and seating, as well as the bespoke luggage for the SVT. The main inspiration for the interior design was equestrian craftsmanship, specifically the Hermès Talaris saddle. This piece combines traditional
craftsmanship with advanced
materials as it has a carbon and titanium structure making it lighter than traditional saddles.
The global luxury market comprises of nine segments, including personal luxury goods, cars, luxury hospitality, luxury cruises, designer furniture, fine food, fine wines and spirits, yachts and private jets. In order the three largest segments are: cars; personal luxury goods; luxury hospitality. The global luxury market exceeded €850 billion in 2014, as shown in Table 2. That reflects healthy growth of 7% overall, driven primarily by luxury cars and luxury hospitality. Growth in the luxury car market was up 10% from 2013, driven by emerging markets, where luxury vehicles are still seen as symbols of status and social enablers. The high degree of vehicle personalization and even after-sales service are helping to double or, in some cases, triple the basic price tag. Yacht sales have recovered at the low pace of 2%, while private-jet sales are up 9%, boosted by emerging-market demand, notably in Brazil. [16] Based on the strength of the luxury car segment and the growth in private jets. The Aston Martin SVT (superyacht Vertical Tender) could constitute a technological epiphany, creating a new market between luxury cars and private jets. The level of engagement of the design concept
Innovation will be determined in the further work of the authors through
dialogue with key
in Design-Driven stakeholders.
Developing the SVT as a semi-custom design, where the interior is co-designed with the client, would enable it to engage with both the private jet and superyacht sectors. This would produce a stronger business opportunity to offset the significant platform cost of developing the SVT, given the 9% growth in the private jet segment compared to 2% in the yacht segment.
Luxury market segment
Personal luxury Goods Luxury cars
Luxury hospitality
Fine wines and spirits Fine food
Designer furniture Private jets
Worldwide luxury market € billion 223 351 150 58 39 18 19
Yachts 7 Luxury cruises
1 Table 2: Worldwide luxury market [16]
% Growth 2013-2014
2
10 9 5 2
-1 9 2 5
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© 2015: The Royal Institution of Naval Architects
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