Business partnerships work best when both partners have similar goals and skills that complement each other. This piece will give you 15 famous examples of partnership businesses from a range of different industries and explain the strategies and lessons they learned & implanted, that helped them be successful. Accompanied by invaluable tips for fostering productive collaborations, this article is your roadmap to harnessing the power of strategic partnerships for mutual growth and innovation. Walk with me as we unlock all these.
Key Points
- The Hermes-branded watch is an exquisite product of the collaborative effort of Apple and Hermes. Apple interprets its Hermes-branded watch as “the culmination of a partnership based on parallel thinking, singular vision, and mutual regard.”
- Snapchat is a very well-known social media channel used mostly by teens and young adults. Nike decided to tap into this demographic to advertise its latest sneaker design.
- Dunkin’ Donuts and the navigation app Waze. The two organizations formed a partnership to provide free coffee to drivers who used the Waze app while driving close to Dunkin’ Donuts.
- Alexander Wang and H&M are two brands that have enjoyed a profitable partnership. The brand partnership was successful because both companies could profit from each other’s strengths.
- Pinterest has become an outstanding channel for businesses to connect with consumers. Levi Strauss & Co. recently teamed up with this platform to create a collection of denim jeans motivated by the brand’s iconic logo.
What is a Brand Partnership?
Choosing to use a brand partnership strategy for your business is a wise marketing decision because it puts the finances and reputation of two or more businesses together for the benefit of each brand. All parties involved in this agreement pledge to assist each other by advertising and sponsoring each other. They also create content together. The goal of the brand partnership is to increase brand recognition and, at the same time, sales.
If you are a startup, I would recommend trying out brand partnerships, they are an excellent way to experience growth in your business. You must ensure you find the partnership that is best for your present growth requirements. Walk with me as I show you some of the top partnership business examples.
5 Partnership Business Examples
I will walk you through some of the partnership business examples that I find amazing and interesting. I feel these businesses will stand out to you.
#1. Red Bull & GoPro
You are already familiar with the energy drink Red Bull. Well, Red Bull and GoPro created something amazing by becoming a brand partnership together. Although you are familiar with GoPro, I just want to tell you a little about it.
So GoPro is a camera company that also creates mobile apps and video editing software. I am sure you are already getting the idea of their partnership strategy.
These two brands are adventurous, and fearless and they are extreme when it comes to marketing their brands. You can obviously see why they came together to form a brand partnership.
These shared interests made them excellent business partners.
#2. Spotify & Uber
Another example is Spotify and Uber. Spotify formed a partnership with Uber because they wanted to get more clients although they had different products.
How did they advertise their businesses? Well When you book a ride, these Uber drivers choose a Spotify playlist that they will listen to during their ride. This helped Spotify and Uber customers to enjoy a better user experience during their Uber rides.
#3. Louis Vuitton & BMW
I know you are thinking ” Louis Vuitton and BMW”? Yes, you read that right, it might look odd but walk with me here. These two brands are all about luxury and they are two brands that promote traveling.
These two brands are big on luxury and they are both famous brands that are well known for top-notch products. So the BMW brand produced a car named BMWi8, LV, on the other hand, created a four-piece set of suitcases that easily fit onto the back shelf of the BMW.
They were able to promote values of technological advancement, creativity, and style at the same time.
#4. West Elm & Casper
Casper is an online bedding and mattress shop that is popular for selling mattresses in a box. So because there is a possibility that some customers would not want to buy a mattress if they can’t check it out themselves first, Casper took the step to partner with West Elm so customers can try the mattress first before buying.
So West Elm was advertising their stylish bedroom furniture while giving customers the chance to try out mattresses. It’s a win-win situation.
#5. Starbucks and Spotify
Starbucks and Spotify? Yes amazing, isn’t it? This brand Starbucks is an American Multinational chain of coffee stores and you are probably wondering how they teamed up. So Starbucks created a coffee house experience using music to create an ambiance.
They wanted to create music settings whereby artists could easily gain access to Starbucks customers and vice versa. This enables Starbucks to have access to Spotify’s discography.
10 Famous Partnership Business Examples
Next, I will be showing some of the famous partnership business examples.
#1. Apple + Hermes
The Hermes-branded watch is an exquisite product of the collaborative effort of Apple and Hermes. Apple interprets its Hermes-branded watch as “the culmination of a partnership based on parallel thinking, singular vision, and mutual regard.”
This implies that the partnership between the two brands is a partnership of two high-value brands, making Apple’s must-have watch even more desirable with a luxury fashion boost.
This watch sells at a relatively higher price point than the traditional Apple Watch, this partnership signifies a status symbol as much as a beautifully modeled and highly functional watch.
#2. BMW + Montblanc
Yes, you read that right. This is a partnership between luxury brands and it is only right that luxury cars should carry luxury luggage.
This partnership did not spare anything, from materials, quality, design, and functionality, the BMW Montblanc partnership intends to unite the many sides of contemporary luxury.
Montblanc’s line of merchandise is designed to suit the BMW 7 Series for everyday driving and extensive road trips.
#3. EVA Air + Hello Kitty
Eva Air is a Taiwanese airline and it recently disclosed its Hello Kitty-themed Boeing 777 with new service between Taipei and Houston. An amazing partnership, I must say.
The sharp/striking patterns on the planes, decorated with the legendary Japanese cat cartoon and all of her friends, are sure to leave an impression at the terminals.
The brand partnership extends to the whole flight experience, with over 100 Hello Kitty-branded items inside the plane.
#4. Dunkin’ Donuts and Waze EVA Air + Hello Kitty
Dunkin’ Donuts and the navigation app Waze. The two organizations formed a partnership to provide free coffee to drivers who used the Waze app while driving close to Dunkin’ Donuts. Drivers could reclaim the offer by scanning a QR code illustrated on the cup top.
The partnership was so profitable that Dunkin’ Donuts expanded to other cities. This program is available in more than 1,000 locations across the U.S.
#5. Kanye and Adidas
This shouldn’t be surprising, really; it’s many West after all. So Kayne West partnered up with Adidas to create unique products and it is called the Yeezy Boost 350 V2 sneakers that were released in early 2023.
This co-branding partnership was a big success, and several fans couldn’t wait to get their own shows, it was most coveted by fans. Amazingly, these shoes sold out within hours of being available online.
#6. BMW and Louis Vuitton
This is another co-branding partnership between two luxury brands. They teamed up to create a limited-edition collection of handbags and accessories.
The partnership was confirmed during Paris Fashion Week and it includes three different designs of bags.
The bags will show LV branding and be accessible only through select retailers globally. Every bag will sell for $2,000, and buyers will receive a free pair of shoes.
#7. Uber and Spotify
These strategic collaborations are becoming a thing and I can tell you for free that they are here to stay. Entrepreneurs who want to reach a wider audience should consider such partnerships. Uber and Spotify are two examples of prosperous brand partnerships.
Both companies have helped each other create unique experiences for clients. For instance, Uber has teamed up with Spotify to provide free rides to anyone downloading the app. And Spotify has partnered with Uber to provide drivers with discounted fees.
#8. Levi’s and Pinterest
Pinterest has become an outstanding channel for businesses to connect with consumers. It shouldn’t be surprising that Levi Strauss & Co. recently teamed up with this platform to create a collection of denim jeans motivated by the brand’s iconic logo.
The collection includes six various designs of jeans, each carrying a unique design pattern.
#9. Alexander Wang and H&M
Alexander Wang and H&M are two brands that have enjoyed a profitable partnership. The brand partnership was successful because both companies could profit from each other’s strengths.
Alexander Wang has a powerful fashion history, and his designs are always creative and extraordinary.
H&M brings its large selection of products to consumers and allows designers to display their work.
#10. Nike and Snapchat
Of course, Snapchat is a famous partnership business example and a very well-known social media channel used mostly by teens and young adults. Nike decided to tap into this demographic to advertise its latest sneaker design.
So, the brand teamed up with Snapchat to provide users with behind-the-scenes access to the shoe creation procedure. Snapshots were provided access to a specific shop to view sneakers being created and designed. Through the experience, they understood the technology behind the shoes and got top-notch content.
The advertising campaign was so profitable that Nike intends to keep using Snapchat as a marketing tool. This type of partnership enables brands to connect with new audiences while providing valuable content.
Types of Partnership Business Examples
Here, I will be providing the five types of business partnerships with useful information about each:
#1. General partnership
General partnerships are the most common type of partnership and they don’t require establishing a business entity.
What this implies is that they’re not a separate legal entity but just a formal agreement between two or more people running a business together.
The partnership agreement simply defines the several rights and responsibilities of individual partners.
#2. Limited partnership
Limited partnerships are legal business entities approved by respective bodies. They include two parties, such as general partners with unlimited liability and private partners with limited liability in respect to their capital contribution.
The general partners are completely accountable for the company, while the limited partners contribute funds but don’t actively run the business.
#3. Limited liability partnerships
Limited liability partnerships are formal legal entities that function as general partnerships. The partnership survives as its legal individual borrows funds and possesses assets in its account.
The partnership is practically a hybrid of a private limited company and a normal partnership structure, incorporating the benefits of both forms of business entities.
#4. Public-private partnerships
Public-private partnerships are agreements between the government and privately owned entities for the aim of providing a service, such as constructing public infrastructure and community facilities.
The private sector entity normally supervises the provision of public assets for a specified duration and there’s a clear allocation of risk between the government and the private sector.
#5. Limited liability limited partnerships
Limited liability limited partnerships are a modern form of business partnership that’s a combination of other kinds of business entities.
They include two partners which are the general and limited partners, who aren’t accountable for any debt or legal commitments the company incurs.
Tips for choosing the right business partnership
Here are some useful tips I have researched and provided that will help you choose the right business structure for you:
#1. Recognize your vision and objectives
Your vision and objectives play a fundamental role in selecting the type of business partnership that’s perfect for you.
For instance, if you don’t wish to oversee the company’s daily running, choosing a general partnership would not be favorable for your business and you as well.
You should go for the limited partnership or the limited liability partnership, where you’re excluded from managing and running the business.
#2. Evaluate the pros and cons
Every business partnership has its own good and bad side to evaluate when deciding. For instance, although general partnerships are simple to establish and discontinue, they’re not reliable, and individual partners are responsible for any debts the business incurs.
Limited partnerships are more reliable as compared to general partnerships, but only general partners are responsible for any legal obligations and debts the business incurs.
#3. Consider county laws and regulations
Business partnerships have various legal and financial responsibilities that partners stick to so they can remain law-abiding. For example, all partnerships need to register with HM Revenue and Customs, or HMRC, and limited partnerships also need to register with Companies House.
Do your due diligence to consider the legal obligations of any type of business partnership in your area.
Research licensed partnerships in your country state to recognize the types of business partnerships you can follow.
What are the 5 types of Partnership?
- General partnership
- Limited partnership
- Limited liability partnerships
- Public-private partnerships
- Limited liability limited partnerships
Read Also: PARTNERSHIP BUSINESS: Definition, How It Work, Pros & Con
In Conclusion,
These examples of partnership businesses and tips for successful collaboration highlight the diverse opportunities and challenges that arise when working together. By leveraging effective communication, mutual respect, and clear agreements, partners can navigate complexities and achieve shared success in their ventures.
If you have any queries about famous partnership business example, please share them in the comments below.
Examples of Partnership Business FAQs
What is the most common business partnership?
A general partnership is the most common type of business partnership.
Who controls the partnership?
The general partners are in control of the partnership and are personally liable for all its obligations.
What are famous partnership business example?
Here are some examples of famous partnership business
- Apple + Hermes
- BMW + Montblanc
- Dunkin’ Donuts and Waze
- EVA Air + Hello Kitty
- Uber and Spotify
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