Selfridges & Co in London will are offering a luxury mobile phone service which comes with a 24 carat gold and diamond encrusted Apple iPhone, costing up to £20,000 for the touch-screen mobiles with 420 brilliant cut diamonds. There will also be offering exclusive iPhone holders from luxury fashion design houses, Christian Louboutin and Burberry.
Implications - For people who are used to owning luxury items, just having the latest in technology may not be enough. Brands catering to the upper class should be looking at creating high-end models of the newest gadgets to attend to the standards of those used to the glitz and glam lifestyle. Creating pieces that not everyone can afford will give a brand a spot amongst coveted luxury labels.
£20,000 iPhone
Diamond Apple Mobile
Trend Themes
1. Luxury Tech - Developing high-end versions of the latest technology to cater to the luxury market's desire for exclusive, high-priced items
2. Customized Gadgets - Offering personalized touches, such as diamond-encrusted cases, to add a unique element to the luxury tech market and attract wealthier consumers
3. Collaborative Luxury - Partnering with luxury fashion design houses like Christian Louboutin and Burberry to offer exclusive, high-end accessories that cater to a wealthy clientele
Industry Implications
1. Technology - There is a growing opportunity for the technology industry to break into the luxury market by developing high-end devices with personalized touches.
2. Fashion - Luxury fashion design houses have the opportunity to expand their offerings to include high-end accessories for technology, partnering with technology companies to create exclusive collaborations
3. Jewelry - Jewelry companies can expand their product lines to include diamond-encrusted cases and customizations for luxury tech products, catering to an affluent customer base