Brands not utilising potential of audits: Equite CEO

01 Jul '20

2 min read

Brands are not utilising the potential of regular brand audits enough. The luxury experience has to be at the centre of all activities. Consumers want to indulge in luxury, and they want to experience the extraordinary. But they do not want to do it at the expense of the environment," says Daniel Langer, CEO of Equite, which creates extreme value for brands.

"Performance has to come first. And then brands need to connect performance to a higher purpose. This includes a revision of the way the brand story is told. In more than 95 per cent of our brand audits, we find significant gaps in brand storytelling. This can be catastrophic because brand storytelling defines how customers perceive the brand. Any gap decreases the luxury value proposition and weakens the brand equity," writes Langer in the hard bound fifth edition of the Sustainability Compendium - ‘Going Circular’ brought out by Fibre2Fashion.

"The building of sustainable business models and brand storytelling go hand in hand. When luxury brands and products are not perceived first as a luxury, then people will not buy them," adds Langer in his article 'Redefining Luxury'.

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