In his popular article “Marketing of Luxury Brands to New Millionaires” Verbal Identity Guru Steve Coipa states that Global Brands need to adopt non traditional branding tactics to reach the Asian new rich. Just remember 20 brands have already died so far this year...
According to a story by Kenny Lim for Media - London brand consultancy Wolff Olins has predicted that the next globally recognized brands will come out of Asia, the Middle East or South America, signaling a shift in global wealth economics from the West.
A study for the Financial Times showed five food and drink brands from emerging markets that are tipped to make an impact on the world stage. These include China’s ChangYu, the country’s largest wine producer, and United Spirits, the largest spirits company in India.
Juan Valdez Café, a coffee chain from Colombia, Almarai, a dairy and fruit-juice company from Saudi Arabia, and Patchi, a Lebanese boutique chocolate chain, make up the rest of the top five.
Wolff Olins strategist Melanie McShane said that brands once needed to dominate the US market to become globally recognized, but that has now changed, as brands now need to be number one in Asia first.
Karen Flynn, strategic communications director at Patroids, noted that Asian brands have the hunger to succeed and “will rise to the top as they become more savvy in marketing themselves outside of their national markets and look for growth in the region”.
She added that consumers in Asia are “also turning to ‘locally made’ brands, and that in itself will help turn the tide”.
