As you might guess, I'm curious. A couple of years ago, in 2014, I sold my items at e-retailer Zalando. I observed soon that the expectations of the customers were very different from what I thought them to be. The commercial platform, on the one hand, and my artistic and individual designs on the other created a painful conflict. I started to look for solutions.
I decided to take a course in Luxury Brand Management and -strategy. This 1- year course is as a Major part of the EMBA Program of the HEC Paris. I was intrigued by getting to know more about the mechanisms of the Premium- versus the Luxury Industry. Where was the difference, and what could I improve?
The educational development took place in several parts, two of them were mandatory to be present, and other sessions with remote work. Professor Jean-Noel Kapferer is an eminent authority on the field of Luxury and has already published several books about this topic.
We worked on selected business cases to develop a deeper understanding and strategies. It was a surprising discovery that even the most exceptional luxury brands need to rethink continuously their path into the future. They might take convincing steps or, in the opposite, risky, doubtful decisions.
As a consumer, you imagine them somehow to auto navigate. But that is only the surface.
As strategists, we were looking behind the scenes, screening the brands for inconsistencies, neglection of the brand heritage or ignorance of new markets. We heard about dynasties, take-overs and data analysis. We discussed challenges and turnaround success stories.
And we had to come up with creative solutions for customer experiences. Luxury customers are not all the same.
A special focus was on sustainability issues and sustainability management.
Our excursions were very informative. We went to see some "Maisons" in Paris and important company headquarters and manufacturing in Italy. We had a list of influential guest speakers who presented their own company insights.
We discussed the following cases and topics (a selection):
Luxury:
Rolls-Royce (experience branding)
Champagne (exclusivity comparison of different vineries)
LVMH and Kering (group structures)
Moet- Hennessy (digital strategy)
Baccarat (experience branding)
Chanel (presentation on the internet and in the retail)
Mellerio dit Meller (brand heritage and future of the company)
Rene Caovilla (PR strategies)
Prince de Galles, The Westin Paris Vendome, Le Meurice,
Armani Hotel & Bar, Bulgari Hotel, Grand Hotel de Milan
(5 Stars Decor and Service experience)
"Insightys", Bain&Company (market research)
Bell & Ross (starting up a Luxury Brand from scratch)
Versace (headquarter and leadership)
Dior (High Jewelry and experience hospitality)
Van Cleef & Arpels (High Jewelry and experience hospitality)
Loro Piana ( Vertical integration)
Premium:
Ray Ban (the difference between Premium and Luxury)
Eataly (tradition, heritage and concept Food)
Fouchon (turnaround branding, packaging, retail)
Moreschi Shoes (Image building, new markets for manufacturers)
Corneliani (Men Fashion)
Poltrona Frau (Design)
The list might not be complete. Finally, I wrote my diploma essay about Digital Strategies in Luxury and the authentic customer. It was received very well. I can confirm that I took a benefit of all the knowledge about branding strategy which was presented to me.
I also built a global network of specialists and maintain active contacts with alumni.
The essence of luxury is in my mind and part of my professional life, especially for marketing and art direction. Prof. Kapferer keeps on publishing books about essential topics of Luxury.
My plans are following up with the new evolution of these topics in 2020.
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