Representatives from a range of high-profile luxury organisations were on hand to impart advice to 700 students at the Glion’s Experiential Luxury Conference this week. The event took place at the CO2 Centre in Bulle, hosted by Georgette Davey, Managing Director of Glion Switzerland and Glion London.
Luxury businesses are always under pressure to remain relevant. They face the challenge of creating products and services that inspire, while also remaining true to their origins. The industry speakers at the conference addressed this issue, discussing content, experiences, how to be relevant for millennials and what the future could bring to the luxury industry.
Keeping ahead of the competition
It is the third year Glion have organised a luxury conference with industry leaders debating about current trends within the luxury industry, and why creating experiences is always a key factor.
“To be successful, you need to create emotions,” said Philippe Tardivel, Head of Marketing and Communications at luxury watchmaker Hublot. As the first speaker at the event, Philippe provided a room full of our students with three key tips:
- Whatever you create has to be extraordinary, and you have to go the extra mile.
- Sharing is believing. You need to make your client feel unique and create a story.
- The personal element is fundamental in the luxury industry. The brand power is in you. You’re your own future, so be authentic and be yourself.
Six elements for luxury brand success
Second speaker Ivan Bascle also shared his thoughts about upcoming trends. Ivan is a Senior Partner and Managing Director of the Boston Consulting Group’s Geneva office, where he heads the German and Swiss consumer practices. He provided six elements for success:
- Realise the future is not an extension of the past – luxury brand companies need to rethink their business model urgently.
- Be open to adapting your business model to new consumers. Adapt innovation and meet the needs of millennials.
- Go online and omnichannel. Be where consumers are and have a clear partnering strategy.
- Explore partnerships and joint ventures – new players provide opportunities.
- Digitize your core, provide big data and intelligence to your capabilities. Additionally, smart analytics, big data and an intimate knowhow of your consumers is also needed.
- Optimize cost and platform. You need to manage costs to remain competitive, while still maintaining quality.
As well as keynote speeches, the conference also housed a panel discussion on delivering luxury experiences today. The panel discussed the challenges of seducing a wider client spectrum and meeting their expectations when it comes to exclusivity and accessibility.
These insightful, industry-relevant events are just part of Glion’s curriculum, which enables students to get hands-on learning within the world of hospitality, while hearing up-to-date advice and information from leading experts.
Does the constantly evolving, challenging world of luxury brand management excite you? If so, you can find more about our Luxury Brand Management specialization on our website.