But what’s luxury as it relates to swimwear?
To answer this question, we can reference the “Four Principals of Marketing.” The 4 Ps are a classic textbook rule that can be applied to every product. They are: Product, Price, Promotion, and Product distribution. Of course, there’s a 5th one that was neglected for decades – People. The person or people who stand behind the product is a critical principle in the marketing of any product or service.
Brief examples of the above:
With an MBA in marketing and decades of sales and marketing experience, I lean on my experiences to shed some light on what I believe makes something luxurious. Perception plays an important role and of course the 4 Ps, but if there’s no trust involved to support the product or service, luxury is meaningless. As the saying goes, “it takes decades to build a reputation but only a few minutes to ruin it.” The same can be said of luxury. For example, a luxury brand can be exposed for having horrific working conditions, employing underaged workers, or even hyping something about their business that’s later discovered not to be true. It’s not uncommon. Think Zara.
Real story. Decades ago I visited a jeans manufacturer located in Fortaleza, Brazil. While touring the production floor, the sales manager pointed to two open boxes. One of the boxes was destined for a high-end store located in a chain of malls and the other box was an unknown brand produced for a little shop. So, both brands were produced with the same raw materials but the marketing and promotion around them differed, and thus, their respective brand perception. Guess who could command higher prices for the same quality?
I remember once reading a business article about Sony electronics. They asked the executive of Sony to explain the difference between their CD player and those of their competitors since they were both sourcing components such as resistors from the same supplier. His reply. “Packaging.” So packaging shapes the image, branding, and overall perception of the product….and because of that, the ability to charge a premium.
At the end of the day, top quality is essential. In the case of swimwear, that means all the ingredients needed to produce swimwear which mostly includes – fabrics, liners, threads, accessories, tags, labels, and packaging. In our case, it becomes obvious the first time you run your fingers across our sustainable fabrics. It’s silky soft, super light, and feels amazing on the body. Back that up with eco-friendly fabrics and you have another attractive feature in alignment with luxury. Couple that with the fact that they’re produced mostly by women being paid a fair wage and who continue to work for the same family company for more than 20 years and you have a compelling story that equates to luxury. Furthermore, Mar Egeu complies with all labor laws and operates ethically. Proof of that is our transparency, and longevity in the industry.
In a nutshell, creating an authentic narrative (based on all of the above) and backing that up with your personal story, in my opinion, is the definition of what makes swimwear luxurious.