The UK has a rich heritage when it comes to sports, with many of the world’s top sporting encounters taking place on home soil. As is to be expected, these events attract a highly affluent crowd, making them a huge marketing target for savvy luxury brands. From fashion houses to watchmakers, everyone wants to be seen to be playing a part in Britain’s sporting calendar.
Simply being seen at these exclusive events can boost a brand’s exposure and sales, and in some cases, they’ve become so ingrained with the events, that their appearance is almost expected.
Sponsorship Offers a Great Opportunity for Luxury Brands
Sporting events offer huge exposure for luxury brands, in terms of footfall, as well as media coverage. Many events will also attract a very specific clientele. For instance, the Cheltenham Festival, which runs from Tuesday 14th March to Saturday 17th March, is expected to bring around 250,000 revellers to the racecourse and local surroundings.
The event is one of the biggest in the horse racing year, and also among the most cash-rich in the industry. It is thought that throughout the whole event, over £4 million in prize money is up for grabs. But this is dwarfed by the amount that race fans will spend over the weekend to bet on their favourites – for example Cue Card who is tipped to win the Gold Cup, the most prestigious race of the meeting. Bookmakers know that there will be huge interest and are trying to attract even more punters by offering a range of free bets available on the Oddschecker site.
It’s estimated that this surge of wealthy visitors will inject £100 million into the local economy, with £10 million of that being spent in shops, particularly on purchasing new clothing for the race meeting. Clearly, this audience offers a unique opportunity for some the biggest luxury brands to be seen. Bentley is one such brand who have partnered with the event, taking the chance to show off their high-end vehicles to race fans as part of hospitality packages available at Cheltenham Racecourse.
Luxury Brands Can Win Exposure from Immensely Popular Events
Another prestigious sporting event is the British Grand Prix at Silverstone. This is a huge spectacle, with a crowd capacity of 150,000. It’s also broadcast to million others through television and streaming deals. Eager to capture a share of these views, Rolex sponsors the entire race; the official title of the race is the Rolex British Grand Prix.
This fits the brands luxury image nicely. Formula 1 is one of the richest sports in the world, with top driver Lewis Hamilton netting an annual salary of $46 milion. The sport has a long history of collaborating with luxury watchmakers such as Rolex and Tag Heur. Designer fashion brands are also associated with the sport, with Hugo Boss famously sponsoring the Mercedes team. These partnerships have been extremely successful, with the logos and imagery of these brands consistently visible throughout races and press coverage.
Targeting high-profile sporting events is clearly a lucrative prospect for the world’s top luxury brands. When executed correctly, it can be rewarding for brands and fans simultaneously. Fans get to engage with brands that interest them and share their values, whilst brands benefit from being exposed to a very specific, targeted audience.
By Doron Levy Courtesy TheTopTier Digital Media