Monday, June 14, 2010

FT Business of Luxury Summit - The Medium and The Message


Luxury ... to me it's sleeping on three or four featherbeds and having a vintage car that runs well. Luxury can mean many things. There's a business of luxury and much of it is thriving. FT is holding its sixth annual Business of Luxury Summit at the Beverly Hills Hotel today and tomorrow. I'm not there (I wish I were, I wish I were) sadly. FT is tweeting (which may really make you sad, too, if you're not there). Besides the most wonderful speakers - Diane von Furstenberg, Leonard Lauder, and so many more - the Beverly Hills Hotel is pink perfection and the most glamorous history.

Some things from today's session:

"It's more important to empower women than to sell them a dress. If everything is market driven, it's no longer real." Diane von Furstenberg

The unique visitor volume for Conde Nast magazine brands have already surpassed physical magazine circulation.

The average consumer "likes" on average eight brands on Facebook per month.

"Sixty percent of VAT forms completed in France are completed by Mainland China shoppers." Leonard Lauder

"French Vogue circulation has increased 36% since 2000 to 150,000, and now has a huge following on Twitter." Jonathan Newhouse

Thirteen percent of luxury spending is via ecommerce, up from five percent last year, per Master Card.

"Making women around the world beautiful" is the ultimate luxury that Estee Lauder sells, per Leonard Lauder. "Aspiration is the key to luxury."

$347,000,000.00 in business is done by the largest airport shop in the world which is in Korea.


And all of this is in the vicinity of the Polo Lounge and the bungalows, the ones that Elizabeth Taylor and Clark Gable and so many other movie stars lived in for days and some for years, as Howard Hughes did (thirty years).

8 comments:

  1. DVF always has the best quotes. She is all about girl power!

    French Vogue is kicking American Vogue's ass!

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  2. thank you for this breakdown honey on the summit, i completely agree that luxury is relative to the person and heart that DVF quote!
    xx
    marian.

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  3. I found your group on IFB about the relevance of page views, followers etc. and I completely agree with you. The blogs that 'make it' are generally those that get noticed by magazines or large-scale fashion websites. If you look back to the early posts of the now famous bloggers they did not have many comments and I am sure their readers were fewer in number! I think that you should blog because you have something to share and because you love doing it. If you become obsessed with counting views and followers - the joy of it disappears and you can feel pressure to improve readership numbers etc. Once you and your current readers are happy, I think that everything else that might happen (gaining recognition, fashion show invites, free samples) are a bonus.
    Keep up the blogging if it is something you enjoy and don't worry too much about how many views you have!!!
    PS Great DVF quote in this post.
    Check out our blog if you get a chance http://www.thewardrobewars.blogspot.com We'd love your feedback - comment your views and follow if you like what you see xoxo

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  4. Hello, Wardrobe Wars. Yes, of course. Thank you for your post.

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  5. love the blog

    come follow the first ever fashion blog from a guys POV, let He know what you think

    fashionbyhe.blogspot.com

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  6. I have been following DVF's tweets on this summit, but thank you for more highlights. It looks like an amazing event to attend. Thanks so much for stopping by. Here's to the middle of the week. =)

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  7. omg! i love everything retro! would have loved to be there too! sadly cannot see the movie, country restriction! ;/

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  8. Awesome blog and video clip! I was just reading on Anastasia Soare's FaceBook blog (the grow guru!) who was invited to the summit just her thoughts and observations about the current economic situation affecting luxury markets and how we're all still learning no matter how long we;ve been in the business...it was pretty insightful, you should check it out from her insider perspective. You can just copy and paste this link to get to it. http://sym.fm/aWyhzr

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