The Cannes Lions International Festival of Creativity has announced the launch of the Luxury & Lifestyle Lions.
This new Lion will provide the global benchmark for brands in the luxury sector, including recognizing and celebrating the most impactful and innovative creative work, experiences and business solutions for the luxury and lifestyle space.
Cannes Lions’ reasons for this development are complex. In WARC’s ‘Guide to luxury marketing in an era of change’, Euromonitor research showcased that sales in the luxury category have phenomenally bounced back after Covid-19 and are expected to surpass pre-pandemic levels in 2023, especially as China normalizes.
Additionally, further research has by Ipsos has revealed that the global luxury market is changing, bringing in both new opportunities and new challenges. Demographic shifts in emerging economies will also create more than one billion first-time consumers with purchasing power, particularly concentrated in China, Southeast Asia, and India. This is supported by their rapidly digitizing population who are youthful, urban and tech-savvy. This invigorating new audience is the perfect opportunity for Cannes Lions.
Simon Cook, CEO, LIONS, said: “When we introduce a Lion that reflects the needs of an industry sector, the Award is crafted in collaboration with the relevant industry. Our global committee of experts have advised us that this highly disrupted sector needs its own benchmark, so that we can move from driving awareness to recognising solutions that are changing business models and setting a new creative standard for a market in flux. The Luxury & Lifestyle Lions will recognise branded communications and solutions that drive business performance and brand loyalty. A multi-disciplined Jury will set a new benchmark for the luxury sector, with the Lion recognising creative work that elevates the discipline and the sector.”
Marian Brannelly, Global Director of Awards, LIONS, added, “The luxury market has faced significant disruption in recent years and post-pandemic. A shift in consumer behaviour and an accelerated shift towards e-commerce and emerging technologies are just a few of the areas the market has had to navigate and innovate in at speed. Add to this the changing values of new demographics, the evolving definition of luxury in non-Western markets and the need for a heightened focus on sustainability and conscious consumption, and you begin to see the pivotal role that world-class creativity can play in this transformation.”
Charles Georges-Picot, Global CEO at Marcel and Publicis Luxe, Global Client Lead, said: “At a time where the luxury sector must constantly reinvent, transform and honour brand heritage with a keen eye on the future, the introduction of a Luxury & Lifestyle Lions will help set a new creative benchmark for this highly disrupted and exciting sector. We know that creativity has the power to push boundaries and progress sectors and disciplines. We’re excited about a new industry standard that will redefine how we look at branded communications, business models and creative transformation in this dynamic space.”
In addition to this, Cannes Lions has also announced that Mobile Lions will be discontinued, asserting that as the Awards reflect the current landscape, the Lions must also evolve and retire when necessity.
