Sarah Femenia and Manon Petillon (on the picture) and Laetitia Rocca (Msc Marketing students) represented Edhec during the finals of InsideLVMH program. Amazing experience for students. Imagine the luxury experience of tomorrow! Sarah and Manon presented in front of a team of LVMH managers, including Alexandre Arnault. Great job Edhec!!! You did not win but you made an impact!
Welcome back to school :). We will be starting the academic year discussing Palaces and exceptional vacations… first case…Taj. Let’s have a dream…
First, visit www.tajhotels.com and watch the video “Tajness (Youtube link below). You can feel it your eyes closed”. Describe Tajness as a luxury experience and explain how this experience is orchestrated. Refer to my slides “A Model of Customer Experience”.
Second, read the case story and reflect on the benefits and risks of Taj brand extension strategy.
In the stores, we wish to create a luxmosphere. Online, many brands find difficult replicating the luxury experience orchestrated in the store.
Yet, what do you consider a “luxury experience”? Comment and shade lights on an experience created by a luxury brand.
This week, we will be discussing Nespresso strategy. In your opinion, is Nespresso a luxury product? Analyze the strategy followed by Nespresso in Europe, with a focus on its retail strategy. Should it be adapted for the US market?
In order to provide sound rationales, please watch the Youtube video embedded below.
In June, McKinsey presented its latest research on Digital Luxury at FT Business of Luxury Summit in Monte-Carlo (see June post). McKinsey analyzed the omnichannel journey of 7,000 luxury consumers. Results confirm past studies: luxury shoppers are highly digital, mobile and present on social networks. Thus, the question is not anymore if luxury brands should be present online; Rather, how could luxury brands propose an omnichannel experience which matches the expectations of their demanding customers? In addition, McKinsey 2005 points to a very current concern discussed in class: On social media, does the luxury brand control its brand identity anymore? or is it co-created by the fans, with a risk of damaging the brand image? On average for each official luxury pic posted on Instagram, 10000 more containing the brand hashtag are generated by followers.
Be prepared. Read the report at http://www.mckinseyonmarketingandsales.com/digital-inside-get-wired-for-the-ultimate-luxury-experience
On May 5th 2015, EDHEC students enrolled in Msc Global Business (Singapore track) were warmly welcomed by Louis Vuitton ambassadors at Marina Bay Sands. Louis Vuitton Island Singapore is the 12th Louis Vuitton Maison opened in the world and the first in Asia. It offers an immersive experience into Louis Vuitton art of travelling, rooted in Louis Vuitton heritage, with a nautical inspiration. The building, by architect Moshe Safdie, seems floating on the water. The interior design by Peter Marino makes constant references to yachting. Students got a guided tour of the flagship, with detailed explanations on the orchestration of the luxury experience.
Based on the set of pictures shown in class and/or based on documents searched on internet, think about the translation of Louis Vuitton brand identity into the boutique design and layout.
Many thanks to Sylvie Jean, Director of EDHEC Msc Global Business and to Hendra Zen and Jonathan Jong, Store Managers at Louis Vuitton Singapore, for making this incredible experience possible.