Austin Way Magazine - GreenGale Publishing - There is a place beyond the crowds, beyond the ropes, where dreams are realized and success is celebrated. You are invited.
Issue link: http://digital.greengale.com/i/557531
Moderator HitHa Herzog, Retail Analyst and Contributor to Fox Business Network Panelists Henri Barguirdjian, USA CEO and President, Graf Pamela Baxter, CEO and President, LVMH Perfumes and Cosmetics North America BarBara Cirkva, Division President of Fashion, Chanel roBert CHavez, CEO and President, Hermès vinCent ottomanelli, President and Regional Director, Salvatore Ferragamo maz zouHairi, CEO and President, Lalique North America Austin Way recently sat down with the CEOs and presidents of top luxury brands to get their read on the new luxury economy, how millennials will impact this vital sector, and what's hot in luxury across the United States. The gathering dovetailed with the 10th anniversary of the Luxury Education Foundation [LEF], a public, not-for- proft organization that these executives work with to help undergraduate and graduate school students from Parsons the New School of Design and Columbia Business School learn about the luxury sector and become its future leaders. The programs, studying the creation and marketing of luxury goods, also allow students to learn about this highly competitive sector of retailing by interacting with senior executives from iconic frms. In turn, these frms beneft by gaining fresh perspectives about their brands from a new generation of talent. HH: tell us about your relationship to the luxury education Foundation and how your involvement has benefted your brand. robert Chavez: It's great to get a new perspective from students. Sometimes when we've presented projects and the students come back with their observations, we think, Wow, we never looked at it that way. This fall we'll ask them to focus on the traditional Hermès scarf and to come up with new ideas to market and wear it, and to present the scarf digitally in unique and innovative ways. vincent ottomanelli: We learn what the students' perceptions of our brand are from the outside looking in, so we beneft from learning how we can communicate to different generations. Barbara Cirkva: What's so interesting with LEF is how the program has expanded. Obviously, we are famous for the Master Class [where luxury brands and their executives work on case studies involving current business situations], and now, over the past several years, we have added fve or six different programs. Just 10 days ago at Chanel, we hosted 25 students from Columbia Business School. They spent the day with us so that, from their standpoint, they could understand what happens every day in the world of luxury. What was so rewarding for us on the Chanel side was having the opportunity to interact with the students and learn what was important to them. the maker culture has taken root strongly with millennials in this country. are american students interested in developing craftsmanship skills? or do you fnd that more likely to happen in europe? rC: You're surprised at how youthful many of the new craftspeople are when you visit the ateliers in France. There's been this surge in interest of people wanting to do something with their hands, whether it's making jewelry, working with silk, or stitching leather. With LEF we're The Luxury Education Foundation's board members and leaders of our favorite iconic brands—Dior, Graff, Chanel, Hermès, Salvatore Ferragamo, and Lalique—talk about new strategies, core values, and how new talent is driving success. moderated by Hitha Herzog illustrations by Jessica May Underwood photography by Tanya Malott Luxe 2 0 . 88 AUSTINWAY.com