DCF and vIndustry oaluation pverview arameters HPa_e .)age .) I Points of view from EY global sector Millennials and the luxury landscape and other industry professionals Chanel aims to produce video content as luxurious as Olivier Rousteing, Balmain’s creative director, has Reinforcing the brand through social responsibility its products in order to build its digital brand and lure helped rejuvenate the popularity of the label through Millennials are commonly characterized as caring 4 consumers. It seems to be working. The latest video his Instagram account, which documents his partying more about social justice and the environment than from Chanel’s show in Cuba caused YouTube user oith models as oell as his high%profile relationship generations before them. Due to these 5 lilEiss>(>( to comment, É?ood฀ A’ll go broce again in with the Kardashians. Named Balmain’s creative characteristics, lmxmrq brands that shoo an affinitq November–December shopping this collection lol as director at the age of 24, Rousteing’s social media for social responsibility could attract more millennial usual.” User Christopher James had a more presence — and the attention it attracts — has consumers. The Harvard Business Review says that emotional take: “Oh my god! Thrilling! Inspirational, transformed the companq from a Öashq, inaccessible 88% of US and UK millennials and Generation Xers w emotional, denine SsicU. At’s the first time a fashion brand to the brand that omtfits millennials’ fanorite 7 believe brands need to do more good. Not typically ervie show makes me cry ... Devine [sic]!” celebrities. Rousteing learned from his friend Kim associated with social responsibility, luxury brands v There’s further evidence that connecting with Kardashian how to tap into the potential of using are beginning to adapt this preference of their try o consumers via social media can lead to a better Instagram as a social media marketing tool long millennial customers by implementing green Indus bottom line. Luxury conglomerate Kering reported an before many other designers. He prides himself on initiatives, focusing on transparency and 11.5% YOY revenue increase for Gucci, which became being a celebrity-loving millennial, and has now sustainability, and showcasing local manufacturing increasingly active in the digital space during the deneloped an mnofficial É:almain 9rmqÊ of his closest 8 efforts. :oth DNE@ and Cering hane implemented latter half of 2015. The Instagram page for Gucci has celebrity friends, including model Rosie smstainabilitq programs to focms on specific more than 0.- million follooers and freimentlq posts Huntington-Whiteley, Kanye West, Kylie Jenner and environmental and social issues and challenges in photographs of the latest product offerings and Rihanna, for whom he personally selected concert their indmstrq, specificallq aromnd manmfactmring. An celebrities wearing Gucci. Luxury conglomerate tomr omtfits. Rousteing credits the success in part to 2012, Kering implemented a series of ambitious 6 DNE@ also reported increased momentmm and his focus and ability to build a brand via social media. target goals, which were integrated into the company success for label Bulgari, which has a strong digital manufacturing plans around responsible gold presence. And then there’s the story of Balmain. sourcing, water pollution, leather traceability, chemical mse and carbon emissions. DNE@ implemented the “LIFE” program, also in 2012, to embed environmental factors into the company’s managerial processes. 7 Andrew Winston, “Luxury Brands Can No Longer Ignore Sustainability,” hbr.org, 8 Feb 2016, 2016 Harvard Business School Publishing, 2016, accessed nia https2''hbr.org'*().'(*'lmxmrq%brands%can%no%longer% ignore-sustainability. 5 8 Jessica Pressler, “Meet Balmain’s Oliver Rousteing, Fashion’s BFF,” GQ, 3 Crqstina ?mstafson, ÉEillennials redefine lmxmrqÈand the staces are 4 Hilary Milnes, “How Chanel trounces other industry brands on YouTube,” November 2015, Condé Nast, 2015. high,” CNBC News, 18 February 2015, CNBC LLC, 2016, accessed via 6 Digiday, 25 August 2015, 2010–2016 Digiday. Ibid. http2''ooo.cnbc.com'*()-'(*')0'. The luxury and cosmetics financial factbook 2016