Luxury Summit
Monte Carlo, Monaco
The event is widely regarded as a premium event for managers in the luxury industry, industry leaders, decision-makers and financiers all around the world. Some 400 guests have gathered there to discuss the future of the luxury industry, retail concepts and the challenges and opportunities of new technology. Top speakers such as Johann Rupert (Executive Chairman, Richemont) and Mario Testino (Photographer) shared their experiences and views with the audience.
POP-UP STORES AND THE NEED TO SURPRISE At the summit, a growing trend in retail could be identified: temporary stores and brands that delight their customers with surprising experiences. "Today, people have everything they ever wanted and they can afford more and more. What they can't afford to buy are experiences. If experiences are real commodities today, then luxury brands need to differentiate themselves in this space through exclusivity," said Bailey (founder and CEO of Appear Here). "And my sense is that if you're going to embrace exclusivity, the experience and the very special moment, they need to embrace pop-up stores." In keeping with this new trend, sponsor Marchi Mobile presented an exclusive mobile flagship store right outside the venue, wowing attendees.