One type of partnership is co-branding, which is an advertising partnership and strategic marketing that exists between two brands. Judging by the swift sell-out and accompanying #Balmania hashtag, the collaboration was a major success. It also gave shoppers more options to see both what it'd be like to sleep in a bed frame and to try the mattress first. Dreamworks has established credibility among children, while IKEA has already won over parents with affordability -- making a powerful duo for promoting play. The branding extends to the entire flight experience with over 100 Hello Kitty-branded items inside the plane. Dwayne Johnson and Dany Garcia's Business Strategy: Rethink Everything! West Elm was also able to show off their stylish bedroom furniture. Casper decided to partner with West Elm so people could try out the mattress in person before they bought it. This was mutually beneficial for both brands, and they wrote articles to show how customers could decorate and paint on their own. The combination of encouraging healthy living with greater global awareness is a promising partnership. GoPro sells more... Sherwin-Williams & Pottery Barn. The success of one company depends on the success of the other. This can be a good way to get into new markets, build more business, and increase awareness. Partnering with Target -- which will retail the fitness trackers for $39 -- will allow UNICEF to reach a projected audience of 70,000 kids in the next year. Louis Vuitton and BMW may seem like a strange partnership initially. The law firm's name will generally include the last names of each partner, such as “Law Offices of Smith & Jones,” or “Smith, Jones & Reed, Attorneys at Law.”. With over 50 million users, LINE gives messaging a unique spin with its popular stickers, or cartoon-like emojis. The limited-edition makeup set features two product lines that embody the Dark Side and the Light, proving that Star Wars has equal draw for both sexes. There are many partnership business examples. Outfitting two of LINE’s most popular characters in Burberry plaid is a groundbreaking way for a fashion brand to reach a huge audience with special offers and campaign news. 8 Famous Business Partnerships That Really Worked. 3 min read. Starbucks employees will receive a premium Spotify subscription that they can use to curate music to playlists featured on Spotify. They have popular YouTube videos that show the mattress unboxing process and even have a 100-day return policy. However, they have several traits in common. Jumpstart Your Business. Get heaping discounts to books you love delivered straight to your inbox. However, some shoppers might not want to buy the mattress if they can't test it for themselves first. Partnering allows established brands to reach new markets, gain greater distribution and dovetail on their partner’s previously established momentum. As the world geared up for the premier of the seventh Star Wars movie, brands hopped on the bandwagon of George Lucas’ record-breaking space saga with products marketed around the franchise. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level. There are many partnership business examples. Taiwanese airline EVA Air recently unveiled its Hello Kitty-themed Boeing 777 with new service between Taipei and Houston. Hire the top business lawyers and save up to 60% on legal fees. There are several famous examples of business partnerships, including Google, a company founded by Larry Page and Sergey Brin. Taiwanese airline EVA Air recently unveiled its Hello Kitty-themed Boeing 777 … In 1975, they decided to partner with Dr. Pepper to create one of the most popular flavors of lip balm ever, the Dr. Pepper lip balm. UpCounsel accepts only the top 5 percent of lawyers to its site. Running with the slogan “The Code,” this content conveyed a set of skills and tools that every Ford man should possess. EVA Air + Hello Kitty. Starbucks is the original coffee-shop-with-music venue, so it seems only natural that it would partner with Spotify to bring music into its franchises in new ways. This partnership showed the shared values of technological innovation, creativity, and style. As kids in the U.S. complete fitness-based missions, they earn points that can be used to “unlock” therapeutic food packets that UNICEF delivers to malnourished children around the world. With an eye on materials, quality, design and functionality, the BMW Montblanc partnership aims to unite the many sides of contemporary luxury. Partnership Business Examples: Everything You Need to Know Red Bull & GoPro. Both parties need to bring something interesting to the table -- otherwise consumers will view the partnership as merely a marketing gimmick. Retailing at a significantly higher price point than the regular Apple Watch, this partnership represents a status symbol as much as a beautifully designed and highly functional watch. Limited Partnership Rules: Everything You Need To Know. Bonne Belle first launched the first flavored lip balm in the world, Lip Smacker, in 1973. As Starbucks announced earlier this year that it will no longer sell CDs, the leap to Spotify keeps both brands relevant throughout the day, from the morning coffee to an afternoon pastry and playlist. These top 10 were a win-win for brands and consumers alike: Apple defines its Hermes-branded watch as “the culmination of a partnership based on parallel thinking, singular vision and mutual regard.” That boils down nicely to a partnership of two highly esteemed brands, making Apple's must-have wearable even more covetable with a luxury fashion boost. Strategic partnerships between brands can be a mutually beneficial relationship. They even teamed up for their new slogans to promote the lip balm. GoPro gives adventurers and athletes the tools they need to capture their stunts, sports events, and races from the athlete's perspective. Spotify partnered with Uber because they both had the same goal of getting more users even though they had different products. If you need help with partnership business examples, you can post your legal need on UpCounsel's marketplace. Trust Entrepreneur to help you find out. Copyright © 2020 Entrepreneur Media, Inc. All rights reserved. Given that Apple Watch’s biggest criticism has been its design aesthetics, offering an upscale version with Hermes handmade leather straps and an exclusive watch face ups the cool factor considerably, extending the reach of the Apple Watch from techies to more fashion conscious consumers. Ford’s branded content partnership with Hearst took “Built Ford Tough” to new levels with over 120 pieces of original editorial content. One type of partnership is co-branding, which is an advertising partnership and strategic marketing that exists between two brands. This helps both Spotify and Uber fans have a better experience during their ride in the car. Do you have critical gaps in your coverage? Millions of Diet Coke Bottles Are Getting Some Love From HP, Uber Pushes Into Public Transit With New App Partnership, Google and Ford Reportedly Teaming Up to Build Self-Driving Cars, 3 Steps to Creating Powerful Business Partnerships. They both consider luxury to be important, and they're both popular brands that are known for their high-quality products. One example of a partnership business is the relationship between Red Bull and GoPro. 2015 saw no shortage of innovative brand partnerships come to fruition. Related: Millions of Diet Coke Bottles Are Getting Some Love From HP. GoPro sells more than portable cameras, while Red Bull sells more than energy drinks. Casper is an online bedding and mattress store that is known for selling mattresses in a box.