Luxury Innovation Summit & Awards’ Post

We are thrilled to announce that Ingie Chalhoub, a pioneering force in the luxury fashion industry and founder of the prestigious Etoile Group, will serve as the Jury President at the 2024 Luxury Innovation Awards. The Global Award Ceremony will be during the Luxury Innovation Summit, 1-2 October 2024, in the beautiful city of Geneva. Learn more and apply: https://lnkd.in/eC73ep6D “Luxury is evolving, and it is at a crossroads. Established brands must adapt, while fresh startups and bold entrepreneurs change the game. The future of luxury depends on the next generation’s innovation, creativity, and sustainable vision. The Luxury Innovation Summit and Awards are here to support those shaping luxury’s tomorrow. I’m honoured to be the Jury President for the 2024 Awards, reflecting my deep commitment to the industry’s future.” —Ingie Chalhoub, Founder and President of the Etoile Group. Categories for this year's awards include: -  Sustainable Luxury -  Luxury Fashion -  Luxury Tech Innovators -  Luxury Lifestyle -  Watches and Jewellery -  Luxury Hospitality and Experiences Join us as we celebrate innovation and provide a platform for the next generation of luxury. Let's shape the future together! #LuxuryInnovationSummit2024 #LuxuryInnovationAwards #IngieChalhoub #LuxuryIndustry #Innovation #SustainableLuxury #FashionTech #EmergingBrands #Entrepreneurship #GenevaEvents

We are thrilled to announce that Ingie Chalhoub, a pioneering force in the luxury fashion industry and founder of the prestigious Etoile Group, will serve as the Jury President at the 2024 Luxury Innovation Awards. The Global Award Ceremony will be during the Luxury Innovation Summit, 1-2 October 2024, in the beautiful city of Geneva. Learn more and apply: https://lnkd.in/eC73ep6D “Luxury is evolving, and it is at a crossroads. Established brands must adapt, while fresh startups and bold entrepreneurs change the game. The future of luxury depends on the next generation’s innovation, creativity, and sustainable vision. The Luxury Innovation Summit and Awards are here to support those shaping luxury’s tomorrow. I’m honoured to be the Jury President for the 2024 Awards, reflecting my deep commitment to the industry’s future.” —Ingie Chalhoub, Founder and President of the Etoile Group. Categories for this year's awards include: -  Sustainable Luxury -  Luxury Fashion -  Luxury Tech Innovators -  Luxury Lifestyle -  Watches and Jewellery -  Luxury Hospitality and Experiences Join us as we celebrate innovation and provide a platform for the next generation of luxury. Let's shape the future together! #LuxuryInnovationSummit2024 #LuxuryInnovationAwards #IngieChalhoub #LuxuryIndustry #Innovation #SustainableLuxury #FashionTech #EmergingBrands #Entrepreneurship #GenevaEvents

| INLUXURY at the Luxury Innovation Summit 2024 | We were thrilled to attend the Luxury Innovation Summit & Awards 2024 in Geneva, where industry leaders came together to discuss the transformation of the luxury sector. Here are the key highlights from the event: Keynote Conversation: Sustainability in Luxury: Luxury brands are shifting from profit to purpose, driving positive change in supply chains. The Deloitte 2024 report emphasizes sustainability's role in shaping brand legacy. The discussion highlighted the need for evolving traditional sustainability models to fuel business growth, supported by frameworks like the EU Green Deal and the circular economy. DEI (Diversity, Equity, Inclusion) initiatives were also key in preparing future talent pipelines. Speakers: Iris Maria Alexis Van der Veken, Meera A. How Gen AI is Shaping Luxury? - by Phoenix Technologies AG: We explored how AI and open-source platforms are transforming luxury marketing. Proprietary AI tools are being used to personalize marketing campaigns and enhance customer experiences, making it possible for brands to predict trends and better cater to their audience. Speakers: Carla Bünger, Laura Otieno Massimo M. Mirjam Schuele   Panel with eBay: The panel explored how Web3 is reshaping luxury re-commerce, with eBay leading the way by introducing digital identities for physical products like watches. This use of digital product passports not only ensures authenticity but also enhances product value by securing ownership. For luxury brands, Web3 offers a new frontier for building trust and loyalty, while also enforcing IP rights and setting new standards for authenticity and traceability. Speakers: Lennart Schlinkmann Keith Metcalfe , Serge Maillard NFTs & Blockchain: Web3 is transforming luxury by addressing counterfeit issues through blockchain and NFTs, which authenticate products with digital product passports—vital for industries like diamonds, where 60% of counterfeits occur. These tools maintain a product’s digital history, ensuring authenticity even when ownership changes. It’s also set to improve loyalty programs, integrating the Metaverse and social commerce to enhance consumer engagement.  Speakers: Hans Schwab , Max Kantelia , Margot Stuart We’re excited to integrate these groundbreaking insights into our work at INLUXURY. Stay tuned as we continue to explore and apply these innovative trends to empower brands with AI-driven consumer insights, market analytics, and trend forecasting. Rushali Bhandari Melissa A. #LuxuryInnovation #AI #Sustainability #Web3 #LuxurySummit2024 #INLUXURY #FutureOfLuxury

🚨 The Luxury Sector's Technology Dilemma: Tradition vs Innovation 🚨 As the luxury industry evolves, there's a growing tension between preserving heritage and embracing the digital age. Many brands face three key challenges when it comes to adopting new technologies: 1️⃣ Cultural Resistance: For many luxury brands, tradition and exclusivity are at the core of their identity. New technologies often feel incompatible with these values, creating reluctance to innovate. However, without modernization, brands risk falling behind. 2️⃣ Skills Gap: Even when there's a desire to innovate, many luxury brands lack the in-house expertise to effectively implement and leverage new technologies. This gap slows adoption and prevents brands from fully capitalizing on modern advancements. 3️⃣ Balancing Tradition with Innovation: Luxury is built on emotional experiences, but today's consumers expect seamless digital interactions. The challenge lies in maintaining exclusivity while integrating technology in ways that enhance, not dilute, the brand. To stay relevant in a rapidly changing world, luxury brands must find ways to blend technology with tradition without losing the essence that makes them unique. 💎 How is your brand managing this balance? I'd love to hear your thoughts! #Luxury #Innovation #DigitalTransformation #Branding #Technology #LuxurySector #BusinessGrowth

A delightful and extraordinary experience - the Financial Times Business of Luxury event at the Hilton Molino Stucky Hotel in Venice! A huge thank you to the #FTLive Team for the amazing organization! The high-profile speakers included Andrea Guerra (CEO #Prada Group), Francesca Amfitheatrof (Artistic Director W&J #LouisVuitton), Dan Ruff (CEO #Belmond), Francesca Bellettini (Deputy CEO #Kering Group), Kelly Wearstler (Designer #KellyWearstlerInteriorDesign), Leo Rongone (CEO #Bottega Veneta), Alberto Galassi (CEO #Ferretti Group) - just to name some of them. The networking was phenomenal, with most attendees being incredibly open to exchanging ideas and making connections. Here are my key takeaways, which I can put in more context if you are curious: 1. Economic Agility: The current economic situation requires us to be more agile and accelerate our problem-solving strategies. Passion for the job and an ownership mentality are incredibly important sentiments to make a difference. Brands that are incorporating caretaking and escapism in their creatives are trending better. 2. Return to Normalcy: The tailwinds that boosted the luxury market in the past years are fading, indicating a return to more normal performance levels for luxury brands. Especially those brands will now see their competitive advantage that did not lean back and continuously improved their operations. 3. Market Dynamics: There's a strong dependency on Chinese clients, with confidence that their consumption slowdown is more likely to be temporary - of course a controversial topic. Additionally, evolving markets such as India, Indonesia, Mexico, and others are poised for significant growth. Notably, it's the first time that US people see competition, with China being the perceived competitor. 4. Technological is co-creator: Technologies like Large Language Models (LLMs) are enhancing productivity across creative, manufacturing, and operational processes. LLMs based on company-owned data and public language on the web are already used as co-creators in the design process etc., often delivering unexpected ideas leading to incredibly creative and engineering results in the execution. Looking forward to continuing the conversations sparked by this event. #FTLuxury #FTLive #LuxuryBusiness #Networking #Innovation #GlobalMarkets #Luxury

#LuxuryFriday 🌟How Can Disruptive Luxury Pioneers Best Cultivate Resilience to Navigate Uncertainty?🌟 As an innovation advisory board to excellent luxury brands together with the insights from the BSR report “Disrupting Luxury: Creating Resilient Businesses in Times of Rapid Change we see the importance for luxury pioneers of implementing the following top three important trends: 📌 Building resilience by engaging in the circular economy. This is accomplished by ensuring availability, provenance, and respectful use of precious raw materials as well as sustainably extending product life cycles, and by investing in the innovation of environmentally friendly materials & processes. 📌 Building a powerful brand with a high degree of name recognition, and positive social impact. In order to do this the focus must be on three key areas: aligning philanthropic and social impact objectives with business goals, empowering women, and meaningfully improving livelihoods. 📌 Cultivating trust through increased transparency and enhanced communication between stakeholders. To realize this pioneering luxury leaders should focus on implementing innovative technologies such as blockchain to improve transparency & traceability, improve ESG storytelling to align value creation with investor interest in sustainability, and provide both behind the scenes glimpses into planet-friendly production processes and brand storytelling that connects more effectively with consumers while aligning with their demand for increased sustainability. 🌟 What areas can your luxury brand innovate in to cultivate resilience & competitive advantage in an ever changing landscape of risk and reward? To see how Quantum Stellium as an agile innovation advisory board can help you futureproof & grow your legendary luxury brand and legacy impact message us.

How Luxury Brands Can Bridge The Innovation Gap With GenAI. The upcoming Luxury Innovation Summit to be held in October in Geneva will be devoted to exactly that topic. Read More: https://lnkd.in/gBXNEHWP #LuxuryConnect #LuxuryCruxx

What lies ahead for the luxury market in 2024? 🤔 Let's delve into the future of luxury, especially as January prompts us to set our sights on the year ahead❗ In 2023, a year of turbulence for the luxury market, defined by geopolitical tensions and economic uncertainty, the sector showcased remarkable resilience, as evidenced by the impressive growth reported by companies like LVMH and Hermès. However, as we step into 2024, the global luxury goods market is poised for significant shifts: 🌏 2024 introduces new horizons for luxury, with a spotlight on the Middle East, India, and the Asia-Pacific region. Unlike the current growth powerhouses of China and North America, these regions present opportunities for growth amid projections of a slowdown in global sales. ♻️ Confronting the climate emergency, sustainable development is taking on an even more central role—particularly post-UN COP28. While brands like Kering and Richemont have long been committed to sustainability, it is now critical for luxury brands to integrate sustainability into their core identity to create a tangible impact. 🎯 Artificial intelligence continues to captivate the industry. From AI-generated images to AI-powered chatbots, companies can harness this technology for content creation and internal efficiency, revolutionizing their workflows. In the face of impending uncertainty, the luxury industry must cultivate a resilient organizational culture, embrace new technologies, and view sustainability as a genuine decision-making filter. A personalized offering paired with unforgettable experiences will be pivotal in capturing the attention and loyalty of affluent customers across local and global markets. What's your take on the future of luxury❓ Share your thoughts below❗ #Luxury #Strategy #Sustainability

The luxury market is gearing up for a dynamic year ahead, poised for a return to more stabilized growth levels amidst evolving consumer preferences and global uncertainties. As we reflect on the resilience demonstrated by luxury brands in 2023, it's clear that agility and flexibility will be key in navigating the challenges and seizing opportunities in 2024. As we embark on the journey into 2024, the luxury market stands at the cusp of innovation, adaptation, and resilience. By staying attuned to emerging trends, embracing sustainability, and leveraging the power of AI, luxury brands can position themselves for success in a rapidly evolving landscape. For further content and customized analysis: contato@muradpma.com. #LuxuryMarket #2024Trends #InnovationInLuxury #MansurMurad