Hermes Supports Lafayette College
Going Like Sixty — December 6, 2007 — Social Good
References: hermes & collegefashion.net
Luxury designer, Hermes has released a limited edition commemorative scarf for the 250th Anniversary of Marqui de Lafayette's birthday. The idea came from Lafayette College as a fund raising idea, as LaFayette founded the post-secondary institute.
The Hermes scarves will sell at the campus bookstore for $325 to benefit students.
Implications - Iconic brands like Hermes often attach themselves to a cause, which exemplifies corporate social responsibility and creates positive brand recognition in the mind of consumer. Though today's average adult is quite busy, consumers will always hold a certain amount of concern for the human race as a whole. Thus, displaying corporate social responsibility is key.
The Hermes scarves will sell at the campus bookstore for $325 to benefit students.
Implications - Iconic brands like Hermes often attach themselves to a cause, which exemplifies corporate social responsibility and creates positive brand recognition in the mind of consumer. Though today's average adult is quite busy, consumers will always hold a certain amount of concern for the human race as a whole. Thus, displaying corporate social responsibility is key.
Trend Themes
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Luxury Scarves for a Cause — Luxury brands partnering with educational institutions to create limited edition scarves that benefit students is a disruptive innovation opportunity.
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Corporate Social Responsibility in Luxury Fashion — Highlighting the importance of Corporate Social Responsibility in the luxury fashion industry and partnering with social causes can lead to positive brand recognition and customer loyalty.
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Cause Marketing Collaboration — Collaborating with educational institutions and designing limited edition products to support a social cause can be an effective marketing strategy.
Industry Implications
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Luxury Fashion — Luxury fashion industry can leverage cause marketing collaboration and corporate social responsibility for positive brand recognition and higher customer loyalty.
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Education — Educational institutions can leverage partnerships with luxury brands to increase awareness of their fundraising efforts and gain support from a wider audience.
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Charity — Charity organizations can collaborate with luxury brands to create limited edition products that support their cause and raise funds for their programs.
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