15 Successful partnership business examples to inspire your next venture
There are four primary types of business entities: sole proprietorships, corporations, limited liability companies, and partnerships. A partnership business is formed when two or more persons pool their resources and consent to share the business's risks, earnings, and losses. Some of the most common partnership business examples include medical groups, law firms, accountancy groups, and real estate investment firms.
Source: UGC
TABLE OF CONTENTS
- Successful partnership business examples
- 1. Nike and Apple
- 2. BMW and Louis Vuitton
- 3. Allbirds and Adidas
- 4. Brooklyn Candle Studio and Pura
- 5. Kith and Coca-Cola
- 6. Apple and Mastercard
- 7. GoPro and Red Bull
- 8. S'well and Bearaby
- 9. Amazon and American Express
- 10. Spotify and Uber
- 11. Starbucks and Spotify
- 12. Airbnb and Flipboard
- 13. Balenciaga and Crocs
- 14. Levi's and Pinterest
- 15. Coca-Cola and Instagram
- What are the different types of business partnerships?
- How do you start a partnership business?
- What are the benefits of a business partnership?
A business partnership involves individuals or businesses working together towards a common objective. There are various examples of successful business partnerships out there. To assist you in comprehending what a successful collaboration looks like, here are some successful partnership business examples to inspire you.
Successful partnership business examples
What are some successful business partnership examples? There are numerous examples of business partnerships. Co-branding is one instance of cooperation in which two brands work together on advertising and marketing strategies. The prosperity of one company relies upon the success of the other. Here are some of the most successful partnerships in business.
1. Nike and Apple
Nike and Apple Inc. have collaborated successfully since 2006 when they initially developed the Nike+iPod sports gear. This unique invention enabled runners to monitor their distance, speed, and calories burned using a sensor in their shoe that linked to their iPod. Nike shoe brand and Apple have since collaborated on several initiatives and products combining fitness and technology.
2. BMW and Louis Vuitton
BMW and Louis Vuitton are both unique luxury companies that value artistry. Louis Vuitton, a travel expert, has teamed with BMW I to design a unique set of carbon fibre baggage for the recently released BMW i8. The German carmaker has teamed with Louis Vuitton to create an excellent travel accompaniment for the hybrid BMW i8.
3. Allbirds and Adidas
Source: Instagram
Adidas and Allbirds have historically competed in the sneaker business. However, the two firms altered that by collaborating on a 12-month effort to create Futurecraft, an innovative approach to ecological footwear that includes design, materials, manufacturing, and distribution. Futurecraft is a running shoe with a high-performance footprint.
4. Brooklyn Candle Studio and Pura
Brooklyn Candle Studio creates eco-friendly scented candles and discovered a perfect partner in Pura, an indoor fragrance company. They collaborated on developing a Pura Smart diffuser blended with some of Brooklyn Candle Studio's trademark scents. Their collaboration is one of the most inspiring business partnership success stories.
5. Kith and Coca-Cola
Kith is a streetwear brand that has partnered with Coca-Cola, a beverage powerhouse with global appeal. The end product was a limited-edition line of garments and accessories that combined Coca-Cola's iconic iconography and colours with Kith's urban aesthetic. Kith and Coca-Cola partnership is one of the most famous business collaborations in the world.
6. Apple and Mastercard
Apple's partnership with MasterCard to introduce Apple Pay was a huge success. The partnership enabled Apple to enter new markets while also providing MasterCard access to clients. MasterCard will supply credit card readers at Apple stores so that customers can use their cards to make purchases with their iPhones or iPads.
7. GoPro and Red Bull
Source: Instagram
GoPro has recently become one of the world's most popular camera brands. Its popularity has grown dramatically due to its unique products and excellent customer service. In 2016, GoPro and Redbull signed a collaborative deal. They agreed to collaborate on content creation, distribution, cross-promotion, and product innovation.
8. S'well and Bearaby
S'well's objective has always been to minimise single-use plastic use with its stylish and practical water bottles. Bearaby, however, promotes excellent sleep with its responsibly crafted weighted blankets. They worked together to create a limited-edition series of water bottles and weighted blanket drops that combined sustainability and comfort.
9. Amazon and American Express
Amazon is the king of online shopping. It serves millions of customers and merchants through its digital marketplace. The brand collaborated with American Express to create a first-of-its-kind co-branded credit card to assist small businesses in selling more efficiently on its platform. The card made it simpler for clients to make purchases.
10. Spotify and Uber
Spotify, a music streaming software, collaborated with Uber to provide "a soundtrack for your ride." This is an excellent instance of a co-branding collaboration between two distinct products with the same goal: gaining more users. When travellers wait for an Uber, they are encouraged to link up with Spotify and play music. Users can select songs from their playlists.
11. Starbucks and Spotify
Source: Getty Images
Starbucks and Spotify formed an unusual co-branding collaboration to create a "music ecosystem" that provides artists with better access to Starbucks customers while also giving Starbucks accessibility to Spotify's extensive discography. Starbucks employees who participate in the campaign receive a Spotify premium subscription, allowing them to design playlists throughout the day in the shop.
12. Airbnb and Flipboard
Flipboard is an online news platform that combines news and topical content shared on social media and enables you to "flip" through it like a social media feed. Airbnb collaborated with Flipboard to develop experiences that provide Airbnb users with lifestyle content targeted to their interests and shared by others who share those interests.
13. Balenciaga and Crocs
Since 2018, the partnership business model has made news for its humorous aesthetic mix. Balenciaga expands and reinforces its experimental concepts by leveraging Crocs' accessible shoe brand. The experiments are then placed in public settings to generate excitement and interaction among audiences for both businesses.
14. Levi's and Pinterest
People frequently look to Pinterest for fashion ideas, making a co-branding agreement with Levi's a perfect fit. Styled by Levi's is a new collaboration between Pinterest and Levi's that provides a "personalised styling sensation," or style insights suited to each user's interests and tastes. Levi's uses Pinterest to address these needs through digital personalisation and visual-focused boards.
15. Coca-Cola and Instagram
Source: Facebook
Instagram is a prominent photo-sharing platform owned by Facebook Inc. Coca-Cola recently collaborated with the social networking site to produce a series of photographs and videos commemorating the 100th anniversary of the famous red plastic bottle. These posts prompted individuals to use the Coca-Cola Inspiration tag to showcase their unique ideas and works.
What are the different types of business partnerships?
Several types of business partnerships exist, including general partnerships, limited partnerships, limited liability partnerships, and public-private partnerships.
How do you start a partnership business?
There are specific processes to take while forming a business partnership. These differ slightly based on the kind of partnership you are considering creating. Here are some steps to take if you and your partner wish to establish a business partnership:
- Select the right partner.
- Draft a partnership agreement.
- Register the business
- Address the tax and compliance needs.
What are the benefits of a business partnership?
A business partnership is easy to establish, has fewer legal obligations, and allows for shared financial responsibility. It also provides tax efficiency, as profits can be passed through to individual partners' tax returns.
These are some of the most successful partnership business examples to inspire your next venture. One of the most effective ways to achieve brand equity is through great brand collaborations. When brands collaborate, both parties benefit from enhanced visibility and awareness.
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Source: YEN.com.gh
