With the economy in a topsy-turvy, and brands still striving to find ways to be inclusive, there is an emerging lane for brands to develop synergy frameworks or co-branding opportunities that would enable them to build awareness where possible. 

Co-branding has become a popular trend from luxury brands, from the high-fashion Fendi and Versace “Fendace” collaboration, to the Arizona Iced Tea and Adidas shoe. Co-branding can help brands capture the attention of more consumers.

When combined correctly, co-branding allows consumers to feel part of one larger community within their own self-focused community. A favorite example in recent years was Virgil Abloh’s Off-White and IKEA’s partnership. However, getting the most out of this strategy requires careful planning and strategic thinking.

Brands that work together can be the best of friends. They can help each other get their offerings in front of more consumers, capture the attention of those in the shopping spirit, drive business and increase consideration amongst new demographics.  

However, before a brand jumps in, it should assess whether there is a potential match between what the brand partnership offers versus whether they’re just well-known. Ensuring brand equity, clear communication, and a path to deliver on promises to connect authentically with an audience. Ensuring that creating an appropriate partnership holds similar values and reflects what audiences are looking for is also imperative.

So, where’s the start?

You know that old saying, “If you don’t succeed at first, then team up with someone who has and see if that works.” It’s true. 

-W. Sky Downing