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On October 9th, Vogue Business held an event at the Bvlgari Hotel in Tokyo to explore the evolution of luxury marketing in Japan. The event, held in partnership with The Trade Desk, Live Board and Ogury, featured industry speakers including Simone Ugolini, President of Bape Japan, and Yuki Endo, Digital Director of LVMH Japan. In an era where conversations are dominated by social media, the agenda is how brands and marketers are diversifying their marketing strategies beyond online communities and into advertising, including out-of-home advertising, streaming, and personalized content. We focused on how we can take a holistic approach.
During his opening keynote speech, Ugolini was interviewed by Joshua Grant, senior innovation director at advertising agency Dentsu. Ugolini, who has worked in the region for the past 15 years, has a background in both venture capital and luxury brands, starting with a role at Valentino in 2005, followed by stints at Armani, Kenzo and Missoni. He discussed how aesthetic tastes have evolved, gravitating toward more minimalist styles, and the influence of Instagram in connecting with customers and telling stories in new ways.
Ugolini also explained the lasting impact of the pandemic on the expansion of Japan’s e-commerce market, which has so far lagged behind other developed countries. Mr Ugolini said this development not only created a more suitable market for younger shoppers, but also broadened the appeal of luxury goods. In some ways, the market has changed from exclusive to inclusive, and from more status-driven purchases to more value-driven purchases. ”
Japan is now firmly established as a luxury hub for shoppers around the world, bridging the gap between tradition, culture and innovation, especially in materials and textiles. Ugolini cited Michelin-starred restaurants, cutting-edge architecture, and increased collaboration with artists, all of which have combined to create a holistic experience economy that supports a luxury lifestyle. This also meets the evolving needs of younger shoppers who prioritize experiences over products.
At Bape, Ugolini mentioned three pillars of conversation that underpin the label’s marketing strategy. It is a culture that incorporates street culture, fashion and lifestyle. The collaboration between art, artists (who create works inspired by vaping) and Art Week Tokyo continues. Music focused on hip-hop and K-POP, and a partnership with Spotify. Additionally, Vape has opened a store in Tokyo’s famous shopping district, Ginza, signaling a change in the city’s retail landscape. Once thought of as young and edgy, Harajuku brands now sit alongside the big European luxury brands on Chuo-dori.
