The Cannes Lions International Festival of Creativity has announced the launch of the Luxury & Lifestyle Lions, providing a global benchmark for brands in the luxury space.
The Luxury & Lifestyle Lions will recognise the most impactful creative work, experiences and creative business solutions for the luxury and lifestyle sector.
Simon Cook, CEO of LIONS, says the addition of the awards comes after the global committee of experts suggested the ‘highly disrupted sector’ needs its own benchmark to create a new 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.’ he said.
A change in consumer behaviour post-pandemic has resulted in a shift towards e-commerce and emerging technologies. In WARC’s Guide to luxury marketing in an era of change, Euromonitor research shows that sales in the luxury category have bounced back post-Covid-19 and are expected to exceed pre-pandemic levels in 2023 as China activity normalises.
The study, with further research by Ipsos, reveals that the global luxury market is bringing a host of new opportunities and challenges, with demographic shifts in emerging economies creating more than one billion first-time consumers.
The new consumers are concentrated in China, India and Southeast Asia, with purchasing power supported by rapid digital adoption amongst a youthful, urban and tech-savvy population.
In addition, LIONS will close the Mobile Lions. Full information on the Luxury & Lifestyle Lions, including the definition, criteria and categories, will follow, along with the Entry Kit, in November.
