In a world full of advertisement, marketing and e-commerce, apparently a little bit of mystery is all it takes to sell your brand. The over 200 year-old Parisian brand Goyard has proved that this type of strategy can work, as they refrain from any type of marketing. Is this the succes behind establishing a highly elusive brand? We reveal all!
[instagram src="BEq-3YWycFK" style=""]The Goyard Saigon bag[/instagram]
The company originally started as 'House of Martin' in 1792, founded by Pierre-Francois Martin, a trunk- and boxmaker. The company got its original name as Francois Goyard was hired by one of the employees. His son Edmond was the one to turn Goyard into an elitist success. He was the one to develop the trademark Goyardine canvas in 1855. It's a mixture of linen and cotton, inspired by the clothes that were worn by his family and villagers. Goyard catered to many famous customers, like the Rockefellers, the Romanovs and Karl Lagerfeld.
What fashion show?
Goyard isn't placed under the roof of a larger group, like LVMH or Kering and their best marketing strategy is no marketing. Goyard has a big focus on the artisanal craftsmanship and therefore have a limited supply of merchandise and do not use any marketing at all. No glossy magazines, no fashion shows and no press-releases. Yet most people know their brand.
Even if it sounds like Goyard has everything covered, the brand has experienced losses in the past. Luckily, Signoles took over the company and pumped some capital into it. The main store got refurbished and new stores in Asia, America and Europe were opened. This strategy has paid off really well as revenue has risen to €41,1 million and the profit rose to €12.8 million The best part? Signoles managed to maintain the heritage of the brand, whilst letting it grow slowly. Still, industry observers think Goyard should join a larger group like Kering of LVMH to survive, because their capital and knowledge will ensure the house remains unique and exclusive.