The Digital Frontier in Luxury
Raina Khumush & Britany Larsen
Issue date: 11/17/09 Section: News
Echoing the importance of bringing content to consumers, Peter Horan, CEO of Goodmail, focused his discussion on the impact of the "edge" of the network. Why force consumers to come to your website? Instead, brands should bring the content to consumers where they want it, when they want it, whether that is on Twitter, Facebook or directly in their email inbox.
In between the two sessions, Vosges Haut Chocolat hosted a tasting which included their signature truffles in flavors like caramelized grits in white chocolate and coconut macadamia nut in milk chocolate. They also gave out free sample bars of their 70% cacao dark chocolate Dominca bar and their Reishi Enchanted Mushroom bar. Guests were also treated to refreshments and other snacks and got the chance to mingle and discuss what they had just heard presented.
During the afternoon session, distinguished speakers continued to emphasize the importance of emerging digital media. Cindy Gallop, founder and CEO of IfWeRantheWorld started off her presentation by stating that the luxury brands of the future would have three key elements in common: elitism, empathy, and immediacy. She elaborated by saying that luxury brands need to continue to be exclusive, they need to create inviting retail environments in which customers are pleased to shop, and they need to give customers what they want, when they want it, and how they want it. The key takeaway was that digital is no longer a separate consideration or even an option. It is a reality and it is everywhere. "You wouldn't call your hairdryer your 'electric hairdryer' or your iron your 'electric iron' and as with digital, there is no digital marketing - just good marketing."
Francois-Henry Bennahmias, the CEO of Audemars Piguet, agreed vehemently with Gallop and talked about the lack of creativity in the luxury world. With a price tag in the six figures, theirs is a truly aspirational brand. But, in a sea of luxury watches like Rolex and Patek Phillipe, he posed the question of how his brand's advertisements stand out from the crowd? He pointed out that all watch ads tend to look identical and believes that luxury brands need to up the ante once again. He also stressed the importance of engaging with clients outside of advertisements on a very personal level through events and one-on-one interactions.
In between the two sessions, Vosges Haut Chocolat hosted a tasting which included their signature truffles in flavors like caramelized grits in white chocolate and coconut macadamia nut in milk chocolate. They also gave out free sample bars of their 70% cacao dark chocolate Dominca bar and their Reishi Enchanted Mushroom bar. Guests were also treated to refreshments and other snacks and got the chance to mingle and discuss what they had just heard presented.
During the afternoon session, distinguished speakers continued to emphasize the importance of emerging digital media. Cindy Gallop, founder and CEO of IfWeRantheWorld started off her presentation by stating that the luxury brands of the future would have three key elements in common: elitism, empathy, and immediacy. She elaborated by saying that luxury brands need to continue to be exclusive, they need to create inviting retail environments in which customers are pleased to shop, and they need to give customers what they want, when they want it, and how they want it. The key takeaway was that digital is no longer a separate consideration or even an option. It is a reality and it is everywhere. "You wouldn't call your hairdryer your 'electric hairdryer' or your iron your 'electric iron' and as with digital, there is no digital marketing - just good marketing."
Francois-Henry Bennahmias, the CEO of Audemars Piguet, agreed vehemently with Gallop and talked about the lack of creativity in the luxury world. With a price tag in the six figures, theirs is a truly aspirational brand. But, in a sea of luxury watches like Rolex and Patek Phillipe, he posed the question of how his brand's advertisements stand out from the crowd? He pointed out that all watch ads tend to look identical and believes that luxury brands need to up the ante once again. He also stressed the importance of engaging with clients outside of advertisements on a very personal level through events and one-on-one interactions.
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posted 12/03/09 @ 9:17 AM EST
Innovation Forum was a useful disscussion.
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