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Emerging Luxury Brands

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Emerging brands in the luxury industry in France :

How will their sustainability be assured?

The Club ESSEC Luxe united its members around a big round table this December in Paris. This needed action was initiated by Claire Colas, manager of Club ESSEC Luxe. Reaching almost 100 people, the group did some assessment and highlighted the quality points regarding the facilitation managed by Olivier Coppermann around this question : how, in France, can we launch and sustain these luxury brands in a growing industry essentially controlled by big brands that had even become international over decades ago? The Daily Couture, a Club ESSEC Luxe media partner, shares with you the biggest issues and concerns : the specifics regarding luxury brands, their development within the French luxury and fashion industry, and lastly the common pitfalls that happen when companies get booted.


photos :  Claire Colas, manager of  Club ESSEC Luxe et Olivier Coppermann, associate founder of OC & PY


THE SPECIFICITIES OF LUXURY PRODUCTS


According to Michel Chevalier, consultant of EIM, and Jacques Carles, president and founder of the Centre du Luxe, for everybody, creative capacity is imperative, as well as the continuing usage of quality craftsmen skills. Carles, himself, does not agree with Daniel Piette, the president of L Capital, and who also highlights the excellence of some semi-industrial products like automobiles and shoes. And what about their views on the globalization of a luxury product? According to Bruno Piette, there’s no need to go international now! And for Michel Chevalier, we must meet our “flying customers”. The travelers.  Jacques Carles, he emphasizes the beauty of integration’s capacity for innovation. With that, though, Bruno Piette stresses the importance of the “emotional experience ” that relatively new brands do succeed in offering to their customers. He quotes brands like Isabelle Marant, Paul & Jo, or Sandro.


photo : Daniel Piette*, president of L Capital (lvmh), Emilie Piette*, assistant Mode, Luxe, Design, Director of DGCIS, Olivier Coppermann, associate founder of  CO & PY (* homonyms)


FIXING THE FACT THAT THERE IS A

LACK OF EXPERTISE

IN THE FRENCH LUXURY INDUSTRY


Jacques Carles is sorry to say that there’s a complete imbalance of expertise in banks involved with luxury industries. One of these banks’ new department, Stratégie & Finance in the Centre du Luxe, presents itself as an aid which offers services regarding corporate finance and advice on management. Among recent initiatives, Emile Piette, Assistant Fashion, Luxury, and Design Director for DGCIS, mentions that there are new specialized teams in the HSBC and SG banks along with actions that are being conducted by some federations, the CCE (foreign trade advisors), and UBI France. Emile Piette stresses, however, the difficulty of undertaking such a task, no matter what the industry.


photo : Fred Pinel, bespoke and luxury leather luggage and accessories maker of Pinel & Pinel, Michel Chevalier, professor at Dauphine and consultant EIM Paris, Jacques Carles, president of the Centre du Luxe et de la création


THE CREATOR OF A LUXURY BRAND


The creator working in the business of luxury is like any other, except that he works in a particular company that requires its teams to really comprehend, at minimum, the branch of aesthetics. Daniel Piette stresses the creator’s impregnable determination to achieve whatever he’s got his mind set on. For everyone in this position, much time and laundering is required, and always more than one would have anticipated. According to him, the idea of a creator-director duo remains pertinent, even if the inherent difficulty for the luxury industry to incorporate the management of emotions persists. That’s when the need for managerial innovation comes in! The journey of  bespoke and luxury leather luggage and accessories maker , Fred Pinel, from Pinel & Pinel, perfectly illustrates the equation between creativity and business. This man brings emotionality to the heart in his brand and you could find this special touch in each of his products. And there we have an example of a creator who’s been blessed with a business sense as well as a grand pugnacity—a real creator’s qualities according to the stakeholders.



PUTTING AN END TO FRENCH ASSUMPTIONS

IN THE LUXURY BUSINESS


Should he go for it? Should our passionate Parisian designer, year 2011, take that big step in acquiring his shop? What a dream come true!–Op. Better consider the size of the market first! In France, the big stores are a great opportunity for young brands to start for they’re just simply offering you a lower and “better” price. Still Michel Chevalier stresses on how great an learning experience it is for a designer to own his/her boutique to get to know customers ‘expectations quite well.

Nevertheless, our man Fred Pinel took this risk. With a chunk of his share capital sold, he’d better have made magic happen! For this was an important step towards adulthood for his young brand, for a local brand as his is definitively limited by the logistic boundaries posed by online shopping.

Last, Michel Chevalier raises the issue of product licenses for French luxury brands.  He denounces how French luxury brands don’t go for them, an almost “French sickness” or “cultural con” says the expert.  It’s an obstacle preventing a potential acceleration of the reputation and awareness of quality brands – it’s “a tragedy” even. A French tragedy, but at the same time, a forewarning to French emerging brands to really consider their decision and recognize the consequences posed by present competitors.


Translation by Camille Davis

NOTES :

About the speakers invited at the round table of Emerging Luxury Brands.

———————-

For information about the Daily Couture’s Paris fashion private tours organized all year round (except August),

visit our page dedicated to our Paris custom Haute Couture and Sur Mesure tours for professionals and private individuals interested in discovering this confidential world of French fashion,

don’t hesitate reading our Guest Book.

The Daily Couture  by Stéphanie Bui – info@thedailycouture.com

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5 comments

N’ayant pu malheureusement assister à cette conférence
j’ai lu avec attention cet intéressant compte -rendu.
Guillaume .

by Guillaume on Monday December 12th, 2011 at 04:43 PM. Reply #

Participant à la table ronde (côté salle…), je m’interroge toujours sur la présence de Monsieur Piette et sa contribution ce soir là. Assez désagréable il faut le dire, face à un Frédéric Pinel si nature et bonhomme, et assez hautain à l’égard des entreprises “en devenir” qui “n’ont rien prouvé” et “qui ne rapportent rien, donc elles ne [l'] intéressent pas” (sic) je n’ai pas beaucoup apprécié ses interventions. Maje et Sandro dont il vante les mérites ne relèvent pas du luxe et ne sont pas des talents en devenir ; je voulais juste donner cet exemple que les Entreprises du Patrimoine Vivant comptent en moyenne 2 salariés pour montrer à quel point Monsieur Piette était en décalage. Avec le sujet sans doute et certainement avec les attentes d’une bonne partie de l’auditoire…

by A+J on Tuesday December 13th, 2011 at 04:36 PM. Reply #

Ayant rédigé le compte-rendu, je tenais à vous remercier d’avoir exprimé votre point de vue, d’autant plus qu’à the daily couture nous sommes particulièrement sensibilisés au sujet de l’artisanat d’excellence, alors merci d’avoir mentionné les entreprises du patrimoine vivant.
Cela dit, et sans vouloir défendre le point de vue de Daniel Piette qui s’exprimait ici, rappelons-le, en tant qu’investisseur chez L Capital, il a clairement mentionné que le mot “luxe” était “embarrassant” quand il a cité les marques Sandro, Maje, Zadig &Voltaire. Il les citait, avant tout, comme des exemples de réussite économique de jeunes marques.

by Stéphanie on Tuesday December 13th, 2011 at 07:14 PM. Reply #

[...] I also understood better what was going to happen in Asia, for the luxury sector, and also in general. I believe Bluebell had 160 stores, plus a one to three salesforce for wholesale activities spread out among ten Asian countries. It was a strong challenge and a very interesting time in my life. Michel at an ESSEC Luxe event, via [...]

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