THE IMAGES OF FRANCE AND ITALY UNITED BY FOOD, WINE, AND FASHION. THOUGH THE BRAND NAME COUNTS MORE THAN THE ORIGIN OF THE PRODUCT, THE BRANDS OF “INSTITUTIONAL LUXURY” ARE GOING STRONG THANKS TO THE LINKS WITH THEIR TERRRITORIES

The brand name influences the acquisition of luxury products more than the “Made In” guarantee at an international level, but the brands of “institutional luxury” base their strength on evident links to their territory of origin: these are the main results that have emerged from an international study promoted by Professor Gaetano Aiello of the Department of Business Science at the University of Florence and by Salvatore Ferragamo Parfums titled “Luxury Brands and the Effects on Made In”.

The study, realized through a large network between the University and the rest of the world, aimed at singling out the factors that most influence the acquisition of luxury products at an international level. From the results of the study, it appears that some stereotypes are strongly entrenched around the world: Italy stands out for its design, but it is also strongly associated with fashion, food, and wine; France is recognized for prestige, and is most connected to its fashion and wine; Germany has the most productive capacities and is also noted for its auto and beer production; Japan and the U.S. are noted solely for their capacity for innovation, as well as the American film industry in Hollywood.

The study also revealed that, while everyone agrees on the importance of brand name, there are markets that are particularly sensitive to this theme (it is more important, in fact, for Italians, Russians, and Chinese), while others find the “price factor” to be almost as important (price for Japanese, for example, is actually the most important factor when choosing an item).

As well, the brand name functions at a global level as a guarantee for those who are buying because it is perceived as a “signature” of responsibility by the company. The perception of “Made In” can be broken down into terms of location of planning or of production. In this case, the empirical evidence demonstrates an increased propensity by those interviewed towards the location of creation (52% at an international level) rather than towards the physical production of the item (48% at an international level).

“This study confirms once again that, at an international level, the brand name holds a determining role in the acquisition of luxury goods” – commented Michele Norsa, general manager of the Ferragamo Group – “and prevails over the power of influence by ‘Made In’, as well as the price of the product”.