When Aston Martin Grows up, it wants to be… a Handbag?
Posted on Sun 17th Jan 2016 at 10:57
Well, not quite – but close enough. Aston Martin’s CEO Andy Palmer has revealed that he wants the company to be the automotive equivalent of Hermès, a French manufacturer that specialises in luxury leather, lifestyle accessories, perfumery, luxury goods, and ready-to-wear.
This doesn’t mean that they’re going to start producing incredibly expensive handbags, mind you, but it does mean that they are definitely not trying to rival other marques such as Ferrari. Instead, they’re trying for a wide luxury portfolio, with vehicles at its core, which will allow them to return to profit for the first time since 2010. “It’s important for us in the future that we’re seen as a luxury company. We seek to position ourselves as the automotive equivalent of Hermes, not as the counterpart of Ferrari”, said Palmer, explaining that the brand is seeking to broaden its appeal before a possible stock market floatation.
Aston Martin currently sells around 3,500 cars per year and is in the fairly unique position of not being part of a larger automotive group. This means it can be more autonomous in its decisions and, for example, change its focus away from sports cars in countries like China – where the market is more orientated towards sedans and SUVs. In the future, the ultra-luxury Lagonda brand is seen as being a key component of Aston Martin’s success, allowing them to rival the likes of Rolls Royce. Fortunately for fans, however, there is no sign of them consequently stopping production of models such as the DB11, which is due to be unveiled very shortly. At least we know James Bond will still have a car for the foreseeable future!