With its early 2015 release of the new Apple Watch, Apple has made its first foray into the wearable technology market. A brand new product category to accompany its annual product launches might be sufficient for most companies, but Apple is reaching even further. From luxury accessories to enterprise IT solutions, Apple has expanded its portfolio to divergent markets that broaden the meaning of its brand.
In addition to the base level “sport” addition of the Watch, Apple is venturing into high-end fashion by releasing an 18k gold, sapphire-screened “Edition” collection, placing it squarely in the luxury timepiece market. At the same time, Apple is expanding its presence in the enterprise IT space through an exclusive global partnership with IBM.
In the quest for growth, Apple is moving into the luxury fashion and enterprise IT markets and attempting to extend its brand equity in multiple directions without diluting it. Learn more about the implications for Apple’s brand in this Executive Insights.
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