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Luxury Branding - A tale without a history

Lindberg, Jacob LU and Backlund, Karl LU (2014) SKOK01 20141
Department of Strategic Communication
Abstract
The thesis intends to investigate how a young actor in the luxury industry practices storytelling as a tool to legitimize high product prices. Since the luxury brand narrative is normally based on heritage, the thesis will scrutinize the luxury watch brand Hublot, a young successful actor, lacking heritage. The results are based on a narrative analysis of document sources treating brand ambassadors, sponsorships, promotional material and an official financial report. We can conclude that Hublot charges the brand with cultural capital by consistently communicating their craftsmanship, innovative designs and the factor ‘country of origin’. Through stories of ‘self-made’ brand ambassadors, widely known for their economic capital, they can... (More)
The thesis intends to investigate how a young actor in the luxury industry practices storytelling as a tool to legitimize high product prices. Since the luxury brand narrative is normally based on heritage, the thesis will scrutinize the luxury watch brand Hublot, a young successful actor, lacking heritage. The results are based on a narrative analysis of document sources treating brand ambassadors, sponsorships, promotional material and an official financial report. We can conclude that Hublot charges the brand with cultural capital by consistently communicating their craftsmanship, innovative designs and the factor ‘country of origin’. Through stories of ‘self-made’ brand ambassadors, widely known for their economic capital, they can attract an affluent class, relatively new to the world of culture and luxury, and thereby differentiate themselves from the more traditional brands on the market. By also balancing the need to communicate financial figures to attract investors, while also censoring the same numbers in official documents to remain exclusive and rare, they further cement their position on the market. (Less)
Abstract (Swedish)
Uppsatsen har som syfte att undersöka hur en ung aktör inom lyxindustrin använder sig av storytelling, historieberättande, som ett verktyg för att legitimera höga produktpriser. Eftersom lyxvarumärkets narrativ normalt sett grundar sig i traditioner och arv, kommer uppsatsen granska hur lyxklockvarumärket Hublot, en ung framgångsrik aktör utan tradition eller arv, slagit sig fram på marknaden. Resultaten är baserade på en narrativ analys av dokumentkällor som inbegriper varumärkesambassadörer, sponsoravtal, reklam och en årsrapport. Vi har fastslagit att Hublot laddar varumärket med kulturellt kapital genom att konsekvent kommunicera hantverket, innovativ design och ursprungslandet. Genom berättelser om ‘self-made ambassadors’, män som... (More)
Uppsatsen har som syfte att undersöka hur en ung aktör inom lyxindustrin använder sig av storytelling, historieberättande, som ett verktyg för att legitimera höga produktpriser. Eftersom lyxvarumärkets narrativ normalt sett grundar sig i traditioner och arv, kommer uppsatsen granska hur lyxklockvarumärket Hublot, en ung framgångsrik aktör utan tradition eller arv, slagit sig fram på marknaden. Resultaten är baserade på en narrativ analys av dokumentkällor som inbegriper varumärkesambassadörer, sponsoravtal, reklam och en årsrapport. Vi har fastslagit att Hublot laddar varumärket med kulturellt kapital genom att konsekvent kommunicera hantverket, innovativ design och ursprungslandet. Genom berättelser om ‘self-made ambassadors’, män som arbetat sig upp från botten till toppen (vida kända för sitt ekonomiska kapital), så kan Hublot attrahera en välbärgad social klass, relativt ny inom den normalt kulturellt laddade lyxsfären. Detta leder till en differentiering från mer traditionella varumärken på marknaden. Genom att balansera kommunikationen av finansiell framgång och censur av försäljningssiffror så bibehåller de bilden av exklusivitet och raritet och cementerar sin position på marknaden. (Less)
Please use this url to cite or link to this publication:
author
Lindberg, Jacob LU and Backlund, Karl LU
supervisor
organization
course
SKOK01 20141
year
type
M2 - Bachelor Degree
subject
keywords
storytelling, brand, branding, luxury brands, narratives, stories, economic capital, cultural capital, tradition, heritage, history
language
English
id
4460909
date added to LUP
2014-06-09 08:21:07
date last changed
2014-09-04 08:36:22
@misc{4460909,
  abstract     = {The thesis intends to investigate how a young actor in the luxury industry practices storytelling as a tool to legitimize high product prices. Since the luxury brand narrative is normally based on heritage, the thesis will scrutinize the luxury watch brand Hublot, a young successful actor, lacking heritage. The results are based on a narrative analysis of document sources treating brand ambassadors, sponsorships, promotional material and an official financial report. We can conclude that Hublot charges the brand with cultural capital by consistently communicating their craftsmanship, innovative designs and the factor ‘country of origin’. Through stories of ‘self-made’ brand ambassadors, widely known for their economic capital, they can attract an affluent class, relatively new to the world of culture and luxury, and thereby differentiate themselves from the more traditional brands on the market. By also balancing the need to communicate financial figures to attract investors, while also censoring the same numbers in official documents to remain exclusive and rare, they further cement their position on the market.},
  author       = {Lindberg, Jacob and Backlund, Karl},
  keyword      = {storytelling,brand,branding,luxury brands,narratives,stories,economic capital,cultural capital,tradition,heritage,history},
  language     = {eng},
  note         = {Student Paper},
  title        = {Luxury Branding - A tale without a history},
  year         = {2014},
}