Some of the largest luxury retail brands in the world—Chanel, Louis Vuitton, Tiffany's, Coach, and Swarovski—include the wealthiest and most famous people in their target markets. It would seem logical that the corporate mission statements that drive these luxury retail companies would be focused on some aspect of money or wealth. Surprisingly, the revenue and profit-related aspect of these esteemed businesses is often not the primary mission that drives the decisions of its employees at all levels. Their missions are larger and much loftier than money.
Luxury Retail Brand Values: They're About Emotion
Profit and fortune is the natural result of focusing on corporate values that revolve around exclusivity, premium quality and uniqueness. An experience that is unmatched, unprecedented, and unmistakable goes hand-in-hand with this. The company mission statements and corporate values of iconic luxury retail brands are much less about logic than they are about emotion, which is true for their customers as well.
The mission, vision, and values statements of these brands define them, their customer experience, the internal company culture, and the values which guide daily decisions and business practices.
Each statement is as unique as the exclusive luxury products and services the businesses provide. Here are a few examples.
Audi and Lamborghini Mission Statement
Audi, one of the fastest-growing premium automobile brands, and Lamborghini, one of the most exclusive automobile brands in the world, are both owned by Volkswagen. Both brands have mission statements that are general and simple.
Audi says: "Our success has been achieved through creativity, commitment, and the ability to generate enthusiasm. The wishes and emotions of our customers are the guiding principles behind our every action."
Meanwhile, Lamborghini believes that innovation drives its business. "The key to the timeless success enjoyed by Lamborghini lies in the attention to design and the constant search for innovative solutions that, over the years, have contributed to make Lamborghini one of the most iconic brands in the world."
BMW Mission Statement
Reading the BMW Group mission statement, it's easy to understand why this company is clearly associated with the best products, steep prices, and off-the-chart experiences. It says simply, "The BMW Group is the world's leading provider of premium products and premium services for individual mobility."
Chanel Mission Statement
Staying true to the distinction between its past and its founder, Coco Chanel, the Chanel mission statement maintains the legacy of the Chanel brand while successfully moving it into the future: "To be the Ultimate House of Luxury, defining style and creating desire, now and forever."
Coach Mission Statement
The mission statement of Coach retail stores seems obvious, mundane, and much less inspiring than the Coach retail offerings: "To become the company that defines global modern luxury.”
Louis Vuitton Mission Statement
The mission statement of parent company LVMH is also the mission statement of the numerous luxury products, companies, brands, and retailers that it owns. It is the common thread that connects all the companies that it acquires: “To represent the most refined qualities of Western 'Art de Vivre' (art of living) around the world; to be synonymous with both elegance and creativity; to blend tradition and innovation, and kindle dream and fantasy.”
Mercedes-Benz Mission Statement
The mission statement of this luxury car maker takes the form of six values they refer to as "What Drives Us." These values fulfill the intention behind a formal corporate mission statement.
Here's an excerpt: "With innovative and high-quality products, we ensure sustainable economic growth and a constant contribution to the group's success."
Swarovski Mission Statement
The mission statement of the Swarovski Company and Swarovski retail stores is as simple and elegant as the company’s crystals. Swarovski also provides its employees with guiding principles in the form of official corporate values which define how the Swarovski elegance translates into the customer experience and employee workplace: "Swarovski adds sparkle to everyday life with high-quality products and services that exceed our customers' desires."
Tiffany & Co. Mission Statement
The official company mission statement of Tiffany’s is not much different from the mission statement that any fine jewelry manufacturer and retailer would be expected to have. Beyond that basic mission statement, Tiffany defines itself with its social and environmental responsibility mission as well.
It says, "We believe it is our moral duty to sustain the natural environment."