Co-branding is a marketing arrangement between one or more brands. The idea is to act in cooperation in a way that combines the strength of the brands. It is also a way to differentiate products and services in a highly competitive marketplace. It is an excellent strategy that is underutilized by luxury real estate marketing professionals.
At lunch we ordered one of our favorite sparkling waters, San Pellegrino from Italy. As we were waiting for our order, we noticed that the bottle had a new label and featured Bulgari one of Italy’s premier jewelers. The label as seen above has a photo of a beautiful Bulgari necklace and the caption reads “Pellegrino Sparkles with Bulgari.”
This special edition bottle was conceived by both companies to promote the Italian style internationally, and according to Stefano Agostini, the CEO of San Pellegrino, “Our brand is an international symbol of the Italian art of living and partnering with Bulgari adds power to our efforts to export the finest side of Italy.”
This is the second limited edition series that S.Pellegrino has launched to celebrate Italian Style. The first was with famous Italian clothing designer Missoni, who created four different versions of their signature patchwork chevron design combined with the San Pellegrino brand.
For both firms this is a win-win situation. They came together to promote the Italian lifestyle, and their great luxury brands that have become international Italian icons. This co-branding endeavor promotes their commitment to their country, and also leverages their marketing dollars, which can potentially increase their overall market share.
How can you co brand with luxury services and products and do the same for your luxury marketplace?
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