The luxury market for animals is growing in 2021
As the global market for pet accessories grows, luxury is now taking an interest in this segment. Luxury for animals sells, and several prestigious brands now offer ranges of premium accessories for dogs and cats. The opportunity to invest in a new market while showing a more playful facet of their brand image.
Emilie Besse
Emilie Besse, web journalist since 2010 for several news sites. Passionate about the world of luxury, its economy and its creativity.
Fendi presents its luxury line for animals
For this month of November, Fendi is offering a novelty in stores. Customers of the Italian brand will now be able to buy luxury accessories for their pets. The Fendi Pet Travel collection features Fendi branded accessories. They are specially designed for the comfort of pets on the go.
Specifically, the collection includes carrying bags. It also offers collars and leashes as well as coats and baskets for dogs and cats. The little extra? Like the customizable luxury bags, some items in the collection can be personalized with the pet's initials. The prices can reach up to almost 2,000 euros for a transport bag. .a Maison Fendi is therefore openly aimed at an exclusive clientele.
When luxury brands want to seduce animal lovers
Fendi is the latest luxury brand to take an interest in animals. But she is not the first. Other luxury brands have already launched ranges of accessories for pets. In fact, over the past two years, what looked like a media buzz campaign has really taken the form of a business opportunity.
René Michau, president of the Professional Syndicate of Pet Services Trades, confirms this trend of funds. “The pet market jumps 50% every ten years. It currently weighs 5 billion euros, we will be around 8 billion in 2030.” And René Michau specifies that “the trend is not only towards the economic and the basic: luxury is buoyant”.
The craze for pets is confirmed in several strategic geographical areas. In Europe, the United States, but also in China, where the younger generations are very keen on adopting pets. However, young Asian consumers represent the future of the luxury economy.
Seduce animals to better convert their masters?
By positioning itself in the luxury market for animals, Fendi has successfully implemented a positive communication campaign that reinforces its brand image. It is also gaining visibility with an audience that was not necessarily a customer of the brand. And this is a customer acquisition lever that interests luxury brands. Always looking for an increase in their clientele, they have an opportunity to reach ever more prospects. For this, luxury houses can count on animal ambassadors. Indeed, on social networks there are already several influencer animal profiles followed by many subscribers. This is particularly the case of Tika The Iggy, a greyhound who recently exceeded one million subscribers on Instagram.
The other challenge for luxury brands is of course to use the new luxury ranges for animals in order to promote their other collections. Once a customer converts to the animal collection, luxury houses hope to retain them by showing them their leather goods, fashion or even beauty items.
Luxury pet market: already fierce competition
Which brands are already positioned in this segment? They are more numerous than one might think. Since 2017, the coat brand Moncler has designed made-to-measure down jackets for four-legged friends. The models, presented in Europe and the United States, met with success. Louis Vuitton now offers carrier bags for pets. The models are monogrammed and borrow famous shapes from the Parisian house, like Vuitton's famous Speedy bag. On the side of the Versace house, we play the card of creativity with a range of accessories but also clothes for dogs. More sober, the Hermès house, traditionally attached to the equestrian field, offers a range of collars and leashes for dogs.
luxury pet accessories Fendi Fendi Pet Travel Hermès Louis Vuitton luxury pet Moncler VersaceEmilie Besse
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