Tuesday, November 15, 2011

Luxury Calling

What is luxury: flying business class or flying a private jet?

This question did not appear in my head all of a sudden. I've just returned from a master class in Fashion, Luxury and Creative Venture Design by María Eugenia Girón, a profession from IE Business School, who came to Moscow to meet with prospective students and alumni among other important things. I took her entire course earlier this year, and still I was not disappointed: new examples, fresh looks of the materials - the fashion industry is moving rapidly and it is moving rapidly in the cyber-direction; that's one important takeaway from me. María Eugenia said today that life is too long to live it without passion, and it is so true about the fashion & luxury industry: if it's not in your heart, you won't be able to be a success there. You might want to check out these posts on jobs in luxury:

And here the key notes that I took from today's session (I'm sorry, I'm too tired to arrange them in logical order and make look pretty :)
  • Sixpocket children generation is emerging: they get money from their parents and both pairs of their grandparents;
  • Creativity at the right time is the innovation in the fashion industry;
  • Most rapidly growing luxury areas in Russia are food & wine;
  • Facebook is now the second biggest country in the world;
  • 70% of all internet sales of luxury products are done at full price;
  • Polarization: flying Ryanair to stay ay Four Seasons;
  • Move from conspicuous consumption to authenticity;
  • The luxury consumer is always looking for the best. And the best is related to the values.
  • Loro Piana and Ermenegildo Zegna put together sustainability programs to preserve vicuñas in Peru (http://www.guardian.co.uk/lifeandstyle/2008/oct/01/ethicalfashion.vicuna.wool);
  • Tiffany stopped using coral in their jewellery. Drop in the ocean in terms of coral reef preservation but huge visibility for the company.
  • Ethical mining of diamonds is sexy: moving from B2C to B2B now.
  • Elvis & Kresse: rubbish to fashion.
At the end of the master class, María Eugenia left us with a wise thought that I also liked immensely:

The best moment to plant a tree is 20 years ago, but the second best is now.

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