DLG PARTNERS WITH IMD STRATEGY PROGRAM
In a constantly evolving industry, keeping up with innovation and disruption opportunities in the business of luxury is rarely an easy feat.Earlier this month, Digital Luxury Group (DLG) partnered with IMD, the International Institute for Management Development, to offer strategic approaches to tackling some of biggest challenges of contemporary luxury management.Luxury leaders gathered in Lausanne on October 10 for the two-day intensive workshop, which took an in-depth look on what it means to be successful in today’s luxury landscape. The program included on-site visits, strategic dilemmas, and thought-provoking dialogue between senior executives, including DLG CEO David Sadigh, Ulysse Nardin and Girard-Perregaux CEO Patrick Pruniaux, and JD.com Global Watch Division Director Belinda Chen.Offered exclusively to senior executives of the fashion, jewellery, watch, accessories, home and interior design, hospitality, cosmetics and automobile industries, the program’s goal was to protect brand desirability while gathering some of the most creative minds in the business.
New retail in China
With years of expertise, Sadigh’s insights focused specifically on new retail in China, a digital ecosystem which is increasingly complex, rapidly evolving, and most of all: big.“The global retail market stands at $28 trillion, roughly one-tenth of which is accounted for by e-commerce in 2017. Of this number, $1,149 trillion comes from China, which is nearly 50% of the total global e-commerce spend,” Sadigh told industry leaders.Sadigh also offered in-depth analysis on platform choice, platform accessibility, shopping experiences, omnichannel options, and top luxury brand case studies.“In this market, a brand’s e-commerce strategy will come with nuances and requires brands to remain agile as the landscape develops and evolves – not one size will fit all, nor will that size always fit,” he explained.The program provided a unique opportunity for top leaders to discuss the rise of various emerging platforms which force the industry to reflect and articulate ecosystem management, consumer behaviors, and digital innovation.