The Nazionale della Fashion Italian (CNMI) and Zalando organized a special changemakers event in Milan at the end of last week. Part of the awards ceremony, partly Seminar, highlighted the importance of brands that evolve to make the most of opportunities in the luxury sector.
It was the third edition of his continuum Luxury changemakers Series with key Kering players, Prada, Tod and more honest.
Meanwhile, Bain & Company, Highsnobiety and Zalando also presented ideas about the state of the luxury market and what is needed to redefine luxury for the next generation of consumers.
First those honored. Francesca Bellettini, Kering's attached CEO, was named in the “brand vision” category and emphasized “proactive approaches versus reagents.” She shared her perspective on “the distinction between a convincing brand vision and a good strategy and how to ensure that a vision drives culture, innovation and longevity in Maisons.”
Meanwhile, the Marketing Director of the Prada Group and head of Corporate Social Responsibility Lorenzo Bertelli was recognized in the innovation category. He talked about the “diverse approach of innovation” of the group, including the initiatives of the Sea Beyond program dedicated to oceanic literacy and R&D in the aerospace sector.
The president of the group of TO, Diego Della Valle, was acclaimed in the crafts of the category and emphasized “the lasting meaning of 'Made in Italy' for Tod's, highlighting its continuous evolution within a modernizing industry.” He provided examples of how “balances his rich inheritance with contemporary advances, integrating new technologies and materials while preserving his artisanal bases.”
Other honest included Giuliano Calza, creative director of GCD with the founders and creative directors of Sunnei, Simone Rizzo and Loris Messina in the New Gen. category spoke about the relationship between fashion and new generations “thanks to the creation of cultural moments behind the tracks.” They discussed “the motivation behind their projects, the ability to balance creativity and commerciality and importance of the designer's personality in the brand's identity.”
As for the ideas presented at the event, Bain's main luxury expert, Claudia D'Arpizio, emphasized that brands “need to reaffirm the foundations of luxury and intentionally shape the future of the industry.”
While the luxury demand “remains strong, its next border has not yet been discovered,” he said. “To take advantage of this opportunity, brands must return to the foundations: anchor their promise in quality, exceptional crafts and the power to inspire dreams, all while eliminating the barriers to access. The true challenge for the future of this industry lies in rekindling the emotional attraction of luxury for consumers, while deliberately transcending traditional commercial limits.”
And called five key approach areas that include the remodeling of market limits through the blur of spending between goods, services and experiences; redefinition of competition by the headlines and insurgents fed by technology; changing customer behaviors; the evolution of the distribution panorama; and the need to safeguard the luxury supply ecosystem “in the midst of uncertainty, volume reduction and a growing approach to sustainability.”
The founder and CEO of Highsnobiety, David Fischer, also presented the new White Paper of the Media brand, Luxury redefined: stop selling the dream, begins to fit actually. The findings include “the change in the aspiration to relevance, where the cultural adjustment now exceeds the traditional approach to the sale of dreams, and the renewed importance of product quality and crafts on superficial marketing. Fischer emphasized the increasing value it gives to Legacy and Archival Storytelling, which contrasts with the decreasing appeal of the floating novel.”
He explained that the report shows “a fundamental change: 71% of basic luxury consumers say that the luxury definition has changed in the last five years. Today's consumers see relevance, instead of immersive experiences, instead of betting on the novel.
Finally, the Vice President of Zalando, Lena-Sophie Roeperer, and Director of Product Management Brian Kim, “addressed the challenges facing the luxury sector, such as a perceived disconnection with customers and evolved and non-linear routes to buy.”
They highlighted Zalando's “commitment to innovation with innovation, not through technology as an independent solution, but as a facilitator of a holistic, perfect and selected client experience. Zalando showed the solutions to close the out -of -line experiences and online and offer personalized and immersive narratives.”
Roeper also said that “the luxury space that was once captivating now feels fatigued, leaving customers yearning for a deeper connection and meaning.”
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