19Th SUMMIT OF LUXURY AND CREATION 2022 - LUXURY IN TRANSITION

USPA NEWS - Increased Retail, New Consumer Expectations, Innovative Materials, Data & AI, Blockchains, Influencers, New Manufacturing Processes, Relocation... the last Luxury & Creativity Summit, a few days before the Lockdown of March 2020, had initiated a Reflection on these Creative Disruptions within the Luxury Industry.

Increased Retail, New Consumer Expectations, Innovative Materials, Data & AI, Blockchains, Influencers, New Manufacturing Processes, Relocation... the last Luxury & Creativity Summit, a few days before the Lockdown of March 2020, had initiated a Reflection on these Creative Disruptions within the Luxury Industry.

The Covid Pandemic has given a Boost to these Technological Evolutions and Revolutions, Marketing, but also Managerial or even Political as evidenced by the Development of the Cancel Culture, the Search for Identity... In this time of Upheaval, this Summit was offering Creators, and in particular to the Luxury Talents Laureates, to put their Creativity at the service of Reflection to better understand the Highlights of the World of Luxury and Emerging Trends.... to allow us to understand the Path that Luxury is currently taking. Is Luxury still in Transition? What Dynamics, what Influences for what Talents?

Both Sources of Innovation and Brokers of Ideas, Creators accompanied by Managers, Experts, Forecasters, Influencers, were revealing the Profile of the Post-Crisis Years between Uncertainties, Renewal and Behavioral Changes. In memory of Kenzo Takada who left us in 2020, according to whom that “Creating was the Freedom to be Yourself", this 19th Luxury and Creation Summit was thus revealing Free and Creative Responses that Players in the Luxury Industry are asking themselves today.

The Day was punctuated by Four Round Tables declining Themes reflecting the Major Areas of Action in the World of Luxury: Create, Undertake, Produce and Distribute.

- The Creator: between Audacity and Neo-Conformism
- The Entrepreneur: from Failure to Success
- The Metamorphoses of Production
- The Prophets of Distribution

1) - The Creator: between Audacity and Neo-Conformism
What place for creation and its direct relationship with the freedom of the creator in a world where social networks and societal movements tend to reduce the space for creative audacity?

Audacity: often perceived as a Provocative Symbol, it also has Positive and Thoughtful meanings such as Change, Courage, Bravery, non-Conformity and Free-Thinking. You need to believe beyond a Shadow of a Doubt that what you have to give isn’t only something others will want to experience, but that once they do, they’ll want other People to experience it too. A Belief like that takes a Rock Solid Conviction in your Own Ideas and Ideals, an Unwavering Understanding that People not only want what you have to offer, but will become better for having been given it.

2) - The Entrepreneur: from Failure to Success
Opportunities abound but Uncertainties have never been greater for Entrepreneurs in a Sector as Heterogeneous as Luxury. From Failure for some to Success for Others. And the Breadcrumb for the Day: will the Lines of Force of Creation still be Decisive strengthening this Economy of Supply which structures the World of Luxury?

Every Successful Entrepreneur has experienced Failure. Failures of all sizes provide a Valuable Benefit -- they help to develop an Entrepreneurial Mindset that allows us to keep pushing forward. It’s easy to look at a Failure as a Personal Shortcoming, but it's Healthier to embrace Failure as part of the Entrepreneurial Journey.

3) - The Metamorphoses of Production
Production Strategies differ according to the Identity of the Companies (Large Globalized Groups, Independent Houses and Subcontractors) and the Trend towards Globalization but all must meet the New Expectations of society. This is how a Relocalizing Trend appears Today based on the Search for Security for All.

You can’t make Intelligent Investments within your Organization unless you understand how your Whole Industry is changing. If the Industry is in the midst of Radical Change, you’ll eventually have to dismantle Old Businesses. If the Industry is experiencing Incremental Change, you’ll probably need to reinvest in your Core. The Need to understand Change in your Industry may seem obvious, but such Knowledge is not always easy to come by.

No Innovation Strategy works for Every Company in Every Industry. But if you understand the Nature of Change in your Industry, you can determine which Strategies are likely to succeed and which will backfire.

4) - The Prophets of Distribution
From Digitization to Augmented Reality with the Requirement a constantly Renewed Customer Experience Luxury Distribution has been booming for several years. In Perpetual Quest for Innovation, the Ideas fuse and do not fail to surprise. The Field of Prophecy is Rich in Multiple Varieties

Although Distribution Businesses have multiple Models serving many Sectors, at their Core they resemble the Logistics Businesses of today: they are largely Route based and Network Oriented.

Since its Inception, the Luxury Industry has been a Growth Story. Product Extensions, Store Network Expansion, entering Growth Markets – especially China and Digital Commerce – have been the Drivers of the last years. With Globalization comes the Managerial need to master the Complexity of orchestrating Personalized Solutions to diverse Customer Needs and creating a Delivery System.

With the Emergence of Luxury Brands and their Designs, the Codes to construct Social Affiliation and Distinction multiplied the Myriad Opportunities to create one’s Social Identity. This Social Innovation is also clearly visible in Exclusive Service Offerings, from Private Member Clubs to Jets and Upscale Hotels. Exclusivity, as a Value Proposition, emerged out of a Crisis of World Order with Predetermined Faith.

* Introduction by:
- Jacques CARLES, President of the Center of Luxury and Creation (Centre du Luxe et de la Création)
- Michel MAFFESOLI, Member of the University Institute of France (Membre de l'Institut Universitaire de France) - Sociologist

To know more about the complete program, click on the link below (at the end of the article)

Source: "19th Sommet Du Luxe Et De La Creation 2022 - Luxe En Transition : Dynamiques, Influences, Talents"
(19th Luxury and Creation Summit 2022 - Luxury In Transition, Dynamics, Influences, Talents).
Held @ Hôtel Intercontinental Paris - Le Grand, on May 12, 2022

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