Hyundai's commissioning of Hermes to create three exclusive Equus Cars has a broader purpose than to simply increase its publicity. "The model is aimed at improving brand image," states Cho Won-hong, Hyundai’s chief marketing officer.
Hyundai is currently the fifth of the world's top-selling car brands and has now decided to appeal to a more high-end market. Using the Hermes association as a branding tactic, Hyundai is audaciously competing against luxury auto brands such as BMW and Mercedes. This isn't the first time fashion has mixed into the automobile industry. This year, Roberto Cavalli is also being commissioned to create a luxury MINI Paceman for the upcoming Life Ball.
Luxurious Designer Car Collaborations
Hyundai Commissioned Hermes to Create Three Equus Cars
Trend Themes
1. Luxury Fashion Collaborations - Opportunity for brands to collaborate with high-end fashion designers to create exclusive and luxurious products, enhancing their brand image and appealing to a more high-end market.
2. Branding Through Partnerships - Brands partnering with prestigious fashion labels to improve their brand image and compete in the luxury market, leveraging the association with high-end fashion.
3. Fashion Integration in Automobile Industry - Fashion designers being commissioned to create luxury vehicles, merging the worlds of fashion and automobiles to create unique and upscale products that attract attention and differentiate from competitors.
Industry Implications
1. Automobile - Opportunity for luxury car brands to collaborate with fashion designers to create limited-edition luxury vehicles, catering to affluent customers and elevating their brand position.
2. Fashion - Fashion brands can extend their reach and tap into new consumer segments by collaborating with automobile manufacturers to create exclusive luxury vehicles, enhancing their brand prestige.
3. Marketing and Advertising - Brands can explore innovative partnerships with fashion designers and luxury car manufacturers to create captivating marketing campaigns and generate buzz, attracting attention and increasing brand awareness.