TEXT ALL THIRD MODULE INSIDE LVMH MAY 2024, Appunti di Brand Management

Scarica TEXT ALL THIRD MODULE INSIDE LVMH MAY 2024 e più Appunti in PDF di Brand Management solo su Docsity! 3rd module INSIDE LVMH Certificate 4/5/24 Creation & Luxury Get a 360° overview of this crucial topic with renowned professors. Creativity in the Fashion Industry What is creativity? How to foster it? Tuomas Laitinen, Director of BFA Fashion Design and MFA Fashion Design and Arts Program at Parsons Paris - The New School, shares his definition of creativity within the fashion industry, and proposes practices to foster one's creative spirit. Focus on the Creative Process A must-have for Designers Alice Litscher, Head Professor of the Master of Arts in Fashion Design, Major in Image, at L'Institut Français de la Mode, details each of the three crucial steps of a creative process: collecting, experimentation and making. Creative Design and the ASCEND Framework Learn about the common path to creativity with Thomaï Serdari, Professor of Luxury Marketing, NYU Stern School of Business. Join Thomaï Serdari, Professor of Marketing and Director of the Fashion and Luxury MBA at the Leonard N. Stern School of Business, New York University, as she explains ASCEND, a framework she designed to organise our understanding of creativity. Thomaï Serdari has been studying the Luxury markets since 2008, although her earlier career in design and art was the foundation of her academic work. She maintains that the most successful Luxury companies uphold their advantage in the market because creativity is in the core of their strategic planning. Her academic work stems from the analysis of several of these companies and, based on her research, she designed a framework that organises our understanding of creativity. “Have you ever wondered how the most innovative creatives come up with their ideas? Would you have expected that all creative works, even though they come from di=erent inspirations and are executed by di=erent designers, are all based on a common path to creativity?" Her analysis of both historical and contemporary examples of groundbreaking designs, whether in fashion or any other creative field or Luxury Industry, showed a very interesting process that takes place consciously, but mostly subconsciously, and that allows the designer to overcome the challenge of breaking out of the restrictions that come with the tradition of a particular design field. Thomaï gives a work example of the celebrated historical designer, Charles James (1906-1978), an Anglo-Saxon who was dedicated to haute couture and craftsmanship and was much praised by the most renowned names of his time, such as Paul Poiret (1879-1944), Elsa Schiaparelli (1890- 1973), Coco Chanel (1883-1971) and Christian Dior (1905-1957). "While James had tremendous dexterity with form, he did not simply try to invent new forms for the sake of novelty. He thought deeply about the changing roles of women in society and particularly their new callings and aspirations. James was a great revolutionary; he actually set into motion a framework that accurately defines how the evolution of thought pushes forward the evolution of humanity through the invention of new principles, new technologies, and new designs." For Thomaï Serdari, all creatives can take their designs to the next level of innovation by focusing the beginning of their design process on the field of the Arts, where abstract and philosophical ideas o\er an unlimited potential of applied solutions and brand di\erentiation. Rather than looking at the work of competitors, she recommends to delve deep into an area of research that interests you and follow the scientific and engineering developments that influence design. This is how one gets to the next big idea that can be translated into original solutions to old problems. Your immersion into Creation and Design at LVMH Discover how creation is at the heart of our Maisons' daily activities. From Design to Creation with Bvlgari Behind the scenes of a Bvlgari watch Fabrizio Buonamassa, Bvlgari's Watches Creative Director, explains the design process of creating unique, simple, and yet iconic products. Hublot's modern reinvention of traditional watchmaking From ideation and prototyping to manufacturing A thrilling name for collectors and watchmaking connoisseurs alike, Hublot wields the art of the unconventional. Founded in 1980, the Maison bridges audacity, tradition and innovation, all in a day’s work. Emmanuel Missillier, Industrialisation Manager, and Patrick Cibien, Technical Director of Movements, lift the veil on what it takes to birth desirable yet wearable timepieces that continue to defy convention. A glimpse into a day of a Watchmaker at Hublot Watchmaking enthusiasts will agree that a timepiece contains a universe of miniaturization and precision. Hublot’s “manufacture movement” channels the many know-hows within the Maison. It is entirely designed, produced and assembled in- house and most of the components and cases are produced on-site. Far from the age-old image of the lonely watchmaker tinkering away in his workshop, a regular day at Hublot involves interacting with many di\erent colleagues. Patrick Cibien describes daily interactions this way: “We are in constant interaction with the manufacturing and product departments... Every day is full of exchanges with the whole company. A typical work day does not exist at Hublot.” the design process, as this can enable projects to develop in a wider variety of directions. Ultimately, we aim to deliver work that is consistent and extremely sharp in its outcome so that, no matter where a client travels in the world, they have a qualitative and exciting experience with the brand. We work in a variety of ways that stimulate the creative and development process. Whether that is through the use of mood boards, which is a great way to move away from a blank page, through to modelling, illustration and rapid prototyping. Sometimes we will work three-dimensionally and occasionally move straight to a digital means of development, although ultimately, concepts are developed through discussions with our team. Which has been the most memorable of all your schemes for Louis Vuitton? We always tend to think of the most recent [or whatever we are currently working on] as the most exciting! However, thinking of past schemes, one of them has to be a scheme we produced in conjunction with Frank Gehry a few years ago. Gehry is someone who we had always admired and was incredibly collaborative and very generous with his time, enthusiastic about the project and welcomed us with open arms. We spent a lot of time in his studio in Santa Monica in Los Angeles, which was the most inspiring and amazing place to be. How long does a scheme take to develop? We usually work about a year in advance of installation. Some schemes take a bit more time to develop, and others happen quite quickly. We find, some projects take a little more time to develop, and other projects will go on hold until it is the right time for the brand. Timing is everything for a brand such as Louis Vuitton, although we are quite intuitive when it comes to knowing when a project feels right for us. Being a fashion company rather than purely Leather goods, we have to be a little more reactionary, therefore Fashion shows, which happen in October, will lead to a scheme for the following February, so the turnaround is only three months. Hence, we have to react to the themes of the shows twice a year. Why do you work collaboratively with a range of artists and designers in your projects? Not every brand or design studio has the opportunity to work with such incredible Artists and Designers. We have, of course worked with famous Artists such as Yayoi Kusama, Je\ Koons and Sol Lewitt who have incredible background stories. We do also work with much younger Artists and Designers too. It is so important for us to engage with external partners across the Arts, as it helps to inject a dicerent kind of ‘feel’ to the brand. Do you think of the windows as the most important element of the store? I think we have been trying to design our way in and out of the windows. We know that they are important as windows are wonderful places to showcase emotions, to engage clients and to make the city a bit more of an interesting place to be. We do play with them, we push the boundaries, and we love to dare! How do you manage to deliver such consistency across all your stores internationally? Every store is drawn digitally, and all of our designers work three-dimensionally with Computer Aided Design drawings, so that all of our stores are modelled as a digital space. Every project we work on, whether a window or a façade, for example, has been produced digitally in advance, as not all stores are architecturally the same size and shape. Furthermore, we aim at working closely with local markets and we do our best to source the producers with the right know-how to produce our schemes locally. This network is growing constantly, yet we do have very high standards and, as we produce everything digitally in 3-D, there is no margin of error. We also split the stores into what we call Network stores and Maisons. The network stores are the smaller stores and the Maisons are the sites such as the ones on the Champs Elysées Paris, 5th Avenue, New York, Plaza 66, Shanghai, New Bond Street, London and Rodeo Drive, Beverly Hills and then we have our store in Paris at Place Vendome which we treat slightly di\erently. This one is where we test ideas, where we might add a scheme to be tried out. How is sustainability at the heart of your design and production process? Louis Vuitton products are designed to last. At every stage of the creative process, we analyse the environmental impact of our creations throughout their entire life-cycle, constantly challenging ourselves to find creative solutions. We do this in a variety of ways: by reusing existing materials for the creation of window schemes, by re-using previous schemes in new incarnations and by constantly questioning materials and production techniques. To give you some examples, in the last two years we have created a scheme which was inspired by, and re-used elements from the Ready-to-wear show; another that used surplus Leather from the patrimoine; for our Shoal of Fish window we worked with Parley for The Oceans to use sustainably sourced materials for production in China, and 100% recycled material and ‘green’ chrome finish for the European production. We have re-used bespoke window creatives in stores from London to Saint Tropez and then from Sydney to California. And our Virgil Abloh mannequins have had their lives extended far beyond a single season by being resprayed, re-purposed and even sold to collectors as art pieces. Committed to circular creativity, we imagine innovative creative circularities in order to further extend the sustainability of our products. By 2025, 100% of our event and window materials will be reused or recycled. What advice would you give to someone who would like to join your studio? Be open to inspiration, even in unexpected places. Focus on telling great stories in an engaging way. Do not limit yourself in your creative process. Whatever you do, do it with joy and authenticity. Creation of a Perfume at Guerlain The nose behind Guerlain's perfumes. As chief “nose” for Guerlain's perfumes, Thierry Wasser talks about his passion for fragrances and explains the perfume-making process, from his inspiration to the pursuit of finding exceptional raw materials. [INTERVIEW TRANSCRIPTS OVERVIEW] LOUISE (interviewer): His name is Wasser, Thierry Wasser, and he’s been the nose of Guerlain since 2008. He is a charming man with astonishing old-factory abilities, who’s also known to be down to earth, a guy who loves meeting authentic human beings, and I am lucky enough to be sitting right opposite him. Hello, Thierry, how are you? THIERRY WASSER: I am good, I am the lucky one. L: Thank you very much, I am feeling great already, this is starting nicely. What fragrance are you wearing today? T: I wear Habit Rouge, eau de toilette, since I’m 13. L: And why? T: Oh, that’s a long story. L: Oh, come on, tell us a little bit about that story. T: Alright… So, when I was 13, at school all my little comrades had little mustaches and little hair on the chin, and I haven’t. And, you know, kids at that age, or kids generally speaking, are not forgiving. I wasn’t exactly bullied, but, you know, I was marked and pointed out and sorted out because of my baby face. And a friend of my mom, who was a very strong masculine figure for me, was wearing this cologne. And I stole it. And, believe it or not, but my attitude changed. And eventually my perception changed. I didn’t grow any hair in any way, but I was that little man! L: You still had a baby face but you actually completely changed your attitude. T: Yeah, but, today – if you have a school reunion with all those ugly kids: they are bald, they have a belly – so that’s my revenge. But, at the time, my answer to that was obvious. L: Okay, and you’ve stayed with that perfume all the way through? T: It worked at the time. L: What smells “black”? I don’t know… something with a deep, dark scent to it? Something… I don’t know, I am not very specialized in this subject, but a dark… T: Louise, don’t think too much. Alright, I’m going to help you out. L: Yes, help me out, yes. T: Black cherry, black tea, liquorice – for example. They are black, and, I mean, obviously – as a material, liquorice is black. It’s kind of easy but that’s how I function - I’m not a very complicated man. So, you take cherry, tea, liquorice… then, eventually, something dark, like patchouli, or tonka bean – well, you’ve got 5 raw materials which gives you exactly the skeleton of what it is. L: I see. T: And after, as I said before: you need to recall a memory or you need that sparkle, and after it goes so easy! And those 5 materials defining the little black dress are what makes Petite Robe Noire. L: When you are designing, because I am not going to use the word “creating” anymore, but when you are designing, I mean, are there specific rules, things that don’t really go together? T: Now that’s the marvel of that trade – that there is no rules. And that makes it also very complicated. It is not scientific, there is no alphabet, there are no rules. Not only there is no alphabet, there are no grammars, so you tell a story with words that you know, but there is no grammar. L: Can we get lost though? T: Yes, indeed. And I spend days being lost. L: What do you do when you are lost? T: Well, you don’t even know you are lost. That’s the thing – somebody else tells you: “Hey! What are you doing here? You are lost!” L: What’s the “Wasser touch”? Is there a “Wasser touch”? T: Well, it’s not for me to say because I don’t know it. I mean, if there is, somebody else who knows my work would say: “Well, well, this is Wasser’s” blah blah, but I don’t know. L: Do you know what people say about you though? T: No. L: You are not interested in that? T: It’s not that I am not interested, it’s just that I don’t know. I mean, people don’t come out to you and say: “Oh well, you are this or you are that, and I love you for this”. Sometimes, yes, “I love you for this and that”, but basically you don’t know what kind of image you project on people’s mind. L: So then, what are your tastes, I guess? What do you like? T: I am very versatile, I mean, that’s also maybe why it’s di\icult to eventually figure out the style. Because I change, I enjoy, I don’t think too much. So, it’s easy to get lost that way, but it’s also very easy to have dicerent horizons. L: Of course. What’s the most challenging of your perfumes up until now? What was, maybe, the perfume that gave you the most headaches? Or the most joy? T: Joy… Every fragrance is a baby of yours, so it gives you joy. But indeed, there are times of labor which are more or less di\icult. L: Each pregnancy is di\erent, yeah. T: Indeed, I guess. I mean, how would I know, but yes. So, we are back to being lost. It’s di\icult when you have an idea, since there are no rules in what you are doing, to get to the point where what is physically in a bottle matches your idea. So, it can be years, and years, and years of trials and errors to get to that point where you are happy. And also – when do you stop? When are you happy? I mean a 100 percent happy, so happy from this piece of heart that you managed to create, alright? It is very di\icult. Ask a painter, when, especially in abstract art – when is it over? When is it done? When are you happy? Here, it’s the same thing. But fortunately, you have the business who tells you, you know, by May 15th, 2019, we have to launch that fragrance. So, obviously, it’s like the painter again who says: “Well, there is a grand opening at a gallery, and I need to have some painting ready for that opening”. So, it helps you to make or to take some decisions, but it’s always di\icult. L: We need deadlines. T: We all do. Otherwise, you can procrastinate, or you can find excuses, and you say: “It’s just not cooked yet!” Well, come on. L: In your personality, in the way you work, are you a loner, or you need to be with your team often? How do you work? T: Both. The creative process is lonely. And Lord, my load is heavy! [laughs] I hate that, because it’s not in my nature to enjoy today’s loneliness. And you need an outside eye with a perspective to give you a sense of what you are doing, and eventually a horizon. If you are too much into what you are doing, you cannot see very far. And eventually, guess what? You get lost. L: Yes, of course. T: So, I have strong opinions. The design is not a democracy, at all. So, yes, it is lonely. But look – I am 58 and I started at age 21, so I’ve been around for a while. I am no spring chicken no more. And the older you grow, and you trade is your “it is”, because more than anything, what helps you is your experience. L: Of course. T: And it becomes for me, strangely enough, easier and easier by the year, to express myself. L: That’s great! Thank you very much Thierry, and we’ll continue talking about creation and emotion in another episode. Fostering Creation & Design through Innovation Focus on Ticany & Co. Now that you have learnt more about Creation & Design in various sectors and Maisons, discover how an innovative spirit can foster creativity even more. Dana Naberezny, Chief Innovation O\icer for Jewelry at Ti\any &Co., unveils how the Maison accelerates innovation at the service of creativity and highlights the importance of having a diverse team. Innovation is a fundamental asset for a successful company. Your immersion into Luxury Brand Management Building iconic and desirable brands About Brand DNA The essence of a Luxury Brand. Sonja Prokopec, Professor of Luxury Brand Management at ESSEC Business School, uncovers why and how brands focus on building a strong brand identity, also known as ‘Brand DNA’. Brand Codes Great assets to build a brand. Let's stay with Sonja Prokopec, Professor of Luxury Brand Management at ESSEC Business School, to deep dive into Brand Codes, how they di\er from the Brand DNA, as well as the many forms these can take. Product superiority: an asset for branding Discover how some product features become key branding elements. What is important to remember is that Luxury brands no longer sell just their brand. In a new era of consumer expectation for shared values, brands are curating platforms to function as tastemakers to extend their own brand halo into the wider cultural world. Consumers are interested in discovering new brands, unique storytelling and in cultivating tastes. So what you find is that brands are taking a step forward in how they are engaging their customers by ocering not just their brand curation but a wider curation that fits within their brand universe. For example, Stella McCartney reopened its London flagship store in April 2021, with a space that they called StellaCommunity friends, with the purpose to host a di\erent local business each week, featuring beauty, art, music, food, live-streamed talks with special guests and skincare treatments from Dr Barbara Sturm and Face Gym, among others. The initiative was the start of a new global rollout, with the goal of turning its stores around the world into a hub for local businesses and consumers. Brands like Gentle Monster recently opened a new flagship store in Seoul, featuring products from other brands alongside its eyewear. This has resulted in their quickly becoming a local influencer hotspot. Extending your brand to include new products only works if there is a synergy and it adds value. Unlike Alibaba or Amazon, which sell everything, a Luxury brand will have to be careful about the brands that they bring on. A curated assortment is crucial! Experiences as a key lever to engage customers A key challenge for Luxury Brands. Consumers used to let brands do the driving. They would get into the back-seat, and let the brands lead the way. Each brand had a story to tell, and by choosing one over another, consumers were e\ectively buying into one brand’s narrative and letting it speak on their behalf. A purchase was a form of self-expression. One might say you were what you bought. Today’s consumers, however, want to take the wheel. With a wealth of knowledge at their fingertips and the world at their feet, they are telling brands where they want to go and how they want to get there. Of course, Luxury consumers are still looking for craftsmanship, functionality and design. But, more than ever before, they are also looking for a shared experience with their favorite brands. This shift, as consumers spend less money on tangible things and more on experiences, represents a critical challenge for Luxury brands. Their consumers are expecting more than just the best quality, so Luxury brands will need to give them the experience they are looking for, whether online or in stores. In other words, what we call ‘experiential marketing’ has become a must. So here are the three keys to engaging today’s Luxury consumers through experiential marketing. Speak to their hearts: delight them! People used to experience the world in superficial ways. Travel was about seeing many countries for short stays and getting snapshots of the top attractions. Luxury travelers tended to stay in five-star hotels that o\ered rather uniform, European-style service, regardless of the location. Shopping abroad often meant going into the same European boutiques found in most major metropolies around the globe. Today, millennials are driving major changes in the travel and retail arenas. They are searching for authenticity: a local, in-depth experience outside the beaten path. What we were seeing in pre-Covid travel is that millennials were more likely to stay at an Airbnb to experience the city like a local and search out foods, wines and unique products made by local artisans. They want to be immersed in an experience that they will carry in their hearts for a lifetime… and the pandemic has contributed to accelerate this trend even further. How does this translate to Luxury retail? The DFS Department Store in Venice, Italy, o\ers us a striking example of experiential marketing that helps brands speak to consumers' hearts. In the restored and revitalized T Fondaco dei Tedeschi, one of the largest buildings in Venice, architects Rem Koolhaas and Jamie Fobert have meticulously respected Venice’s unique heritage while integrating touches of modernity. With an entire floor dedicated to exhibitions and events open to the public, they have created a new cultural hub for Venetians and tourists alike. You do not just go there to shop, you go to be immersed in an experience. In 2021, with the paradigm shift due to the pandemic, the Fondaco has also reinvented itself via online channels that complement and, if necessary, replace the physical retail experience: in this way, customers can be delighted through new technologies that allow consultation and shopping experiences close to the physical ones. Art speaks to observers on an emotional level. Studies have found that exposure to art can even reduce stress! Art piques curiosity too: today’s consumer wants to learn and understand the artistic process. Art ocers a powerful axis through which to speak to the hearts of consumers. Some brands have launched dedicated museums, like the Louis Vuitton Foundation in Paris, for example, which makes art an integral part of Louis Vuitton's brand storytelling. The Christian Dior Exhibit at the Musée des Arts Décoratifs o\ers another striking example of art taking a central place in a brand’s ecosystem and helps legitimize the founder as an artist in his own right. Chaumet launched an exhibition within their own beautifully restored salons at 12 Place Vendome in Paris. The exhibition was titled ‘Joséphine et Napoléon, une histoire (extra)ordinaire’, and was set to celebrate their life together and to mark the bicentenary of the Emperor's death in 1821. The exhibition featured 150 pieces of jewelry, paintings, works of art, correspondence and illustrated documents between the two lovers, who were known to write exquisite love letters to one another, yet again immersing us in the story of the Maison. But the Luxury-art union also unravels through other forms of collaboration and creation that go beyond museum exhibitions. Dior has repeatedly brought its own creations to ballet, such as those for Philip Glass-composed ballet in Rome. Guerlain, on the other hand, inaugurated a few years ago a women's solidarity project that speaks through images, those of photography. ‘Femmes en regard’, in the series in May 2021, was a dialogue between conferences and photography exhibitions staged at their boutique on avenue des Champs-Élysées in Paris, meant to give voice to the exhibited artists. All examples that reinforce the idea that art and Luxury go hand-in- hand. Speak to their minds – Entertain them! Storytelling is one of the best ways to engage consumers. Today’s consumers are hungry to learn about the history of each brand, their creative processes, and their artistic inspirations. They want to be engaged on an intellectual level but also entertained, both in-stores and online. This growing desire translates to a burgeoning “content craze”. Content is indeed key; however, it also needs to be credible, authentic, unique, and fun to fully involve customers. Visual storytelling is particularly powerful. Images, for example, o\er a shortcut to the brain: images are processed by the human brain 60,000 times faster than words and are more readily memorised. Videos are even more e\ective: people tend to spend five times more time looking at videos than static images. Plus, when you show a video, studies show that there is much better recall of the brand. Even very short video content can be incredibly e\ective. Storytelling takes consumers on a journey of discovery, even if that journey was only a few seconds long. This immersive experience can be created through numerous tools. Christian Dior, for example, has experimented it with the presentation of Haute Couture by creating short films that have the ability to engage the viewer and take them into another dimension. With ‘Le Mythe Dior’ (2020) or ‘Le Château du Tarot’ (2021), the clothes from the catwalks blend into a di\erent universe, where the scenery absorbs and immerses the viewer completely, who is taken into the world of the Maison. Tied even more closely to the theme of entertainment, the Maison launched Dior Talks, a series of podcasts that explore the creative imaginations behind the brand's success and that give a voice to female artists, athletes, and actresses who have inspired Maria Grazia Chiuri with their courage, passion and talent, their embodiment of the bold empowerment Dior admires and who are linked to the Maison through collaborations and projects. In the wake of infotainment, the public is involved, entertained and captured by a new dimension that opens the door to the brain behind the myth. The same can be said for the phenomenon of gamification in a market that is growing by 20% annually, a phenomenon to which LVMH has responded promptly with the alliance between Louis Vuitton and Riot Games, where they partnered in the League of Legends game with branded collections for the characters. A branded entertainment for