Reading about Pernod’s Ricard’s plans to launch the world’s most expensive champagne using their Perrier Jouët brand brought a smile to my face and some recollections to my mind.
When I took my MBA in Luxury Brand Management at a business school in France the golden rule we were taught was that you must NEVER attempt to justify your product’s price tag by logical argument – a ) it can’t be done and b ) that’s not what luxury goods, including champagne, are all about; they are not about mundane features; they are about imagery and dreams.
Perrier Jouët could not justify the price tag of $1,000 a bottle they are allegedly putting on their new champagne, nor would they wish to justify it if they could, so prices such as this are simply a marketing exercise with little or no factual basis whatsoever.
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