What can we expect from the future of luxury? Vogue Business and Thélios joined together to provide the answer to this query. Recently in Paris, the two powerhouses hosted a special event titled ‘Framing the Future of Luxury’, a gathering for luxury industry professionals, experts and fashion influencers to exchange their valuable insights. From discovering the latest trends to understanding the legal, financial and digital evolutions, this groundbreaking event was a highly-anticipated affair dedicated to the concept of luxury.
1. “Introducing Vogue Business and Thélios: Crafting the Future of Luxury”
The Power of Luxury:
Vogue Business, the new organization created by Condé Nast to lead the convergence of the luxury, fashion, and business worlds, and Thélios, the joint venture between LVMH and Kering, have announced their collaboration in order to create the future of luxury. That future will be crafted by an unprecedented alliance between sought-after industry experts and uncompromising creatives, who bring together their wealth of experience and knowledge.
The mission of this powerful partnership is to re-imagine the existing luxury landscape and bring about a revolution that is aesthetic, economic, and social. By carefully considering both the traditional and the forward-looking developments of the fashion world and marrying the two, Vogue Business and Thélios are changing what it means to be part of the world of luxury and high fashion.
This collaboration will result in a new series of initiatives, designed to explore what “true luxury” really means in a contemporary context. From exciting industry conferences that celebrate innovation and creativity, to exclusive conversations and experiences, the team will develop new ways of producing, retailing and enjoying premium products and services.
Their vision is to create an industry-leading platform which will ensure sustainable growth and profitability in the luxury sector, driving meaningful change and celebrating the spirit of luxury.
2. “Exploring the Opportunities at the Vogue Business and Thélios Event”
Starting your own business and entering the world of fashion can be quite a challenge. Vogue Business and Thélios gives you a head start with the help of their unique event!
Participants will be able to explore immense opportunities such as networking with the industry’s most influential people and having one-on-one meetings with major brands. Moreover, you will be able to gain advice, valuable contacts, and build relationships with experienced professionals.
- Workshops
- Interactive Panel Discussions
- Unique Networking Opportunities
The event will include many activities and presentations, such as:
- Startup Opportunities
- Hands-On Exercises
- Key Note Speakers
This event provides not only the opportunity to connect with major industry insights and people, but also the resources to accelerate your venture.
3. “Experts Discuss the Challenges of Luxury in the 21st Century”
- Sustainability– Perhaps the greatest challenge posed by luxury in the 21st century is sustainability. The demand for luxury has skyrocketed, and the environmental and social consequences of creating luxurious items is not always factored into the equation. Luxury companies and experts must ensure they are producing items while also doing their best not to compromise the environment and other social issues that are often associated with luxury.
- Quality– Another pressing challenge for luxury in the 21st century is the need to ensure quality. Customers expect luxury items to be of the highest quality, made out of the best materials and to be built to last. But in such a competitive market, the temptation to cut corners can be great. Luxury companies must always remain vigilant and strive to never lose sight of their commitment to quality.
The idea of ethically produced luxury is beginning to gain traction in the 21st century. This means that luxury products must not only be of the highest quality, but also that they must be produced in a way that is sustainable and takes into account their environmental and social impact. This is a difficult bar to meet and luxury companies must be aware of the standards that are necessary to remain competitive.
In the 21st century, the ability to deliver on all fronts – quality, sustainability and ethical production – is essential for luxury companies. Increased consumer demand puts pressure on companies to deliver, while industries such as fast fashion are emerging as real competitors. As a result, luxury companies must remain agile and competitive in order to keep up with changing consumer demands and remain competitive in the 21st century.
4. “Charting the Path Forward for Luxury Shopping in the Digital Age
Creating a Luxury Shopping Experience
The key for luxury shopping in the digital age is to create an experience that matches the quality and exclusivity of a physical shopping experience. It’s no longer enough to simply offer products to be purchased online, it needs to be a unique and seamless experience. Here are some elements that luxury brands can integrate into their online platforms to create a similar in store experience:
- Women’s Fashion Blog – Create a virtual magazine that continues to showcase the brand’s style and aesthetics through high quality images and content.
- Virtual Shopping Tours – Create the illusion of a physical shopping experience by offering guided 3D tours of the store including close-up views of products.
- Dedicated Store Assistants – Provide dedicated virtual assistants for shoppers who need or want personalized assistance with their purchase.
The user experience must extend beyond these elements as well. Shopping online should be as fast and straightforward as shopping in store and the customer service should continue when the product arrives to ensure the product is satisfactory. Luxury shopping through the digital age should go above and beyond a conventional in store experience. When done right, luxury brands can create a unique and exclusive shopping experience that far outlasts its physical counterpart. Overall, Vogue Business and Thélios’ event was a success, with a host of industry leaders gathering to explore new ideas and collaborate towards positive change. By framing the future of luxury and connecting the dots between creativity and technology, the powerhouses of the fashion industry are in a better position than ever to take their commitment to making a better future seriously. This event was only the beginning and it looks like luxury will only be growing in its ambition and energy, helping to shape the fashion industry and beyond.
