Latest / The Future of Luxury Podcast with Dr Daniel Langer / Niccolò Ricci: CEO of Stefano Ricci on Merging Luxury and Sustainability

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Niccolò Ricci: CEO of Stefano Ricci on Merging Luxury and Sustainability · The Future of Luxury Podcast with Dr Daniel Langer

0:07
so welcome to another edition of the
0:10
future of luxury podcast and today it's
0:13
my great pleasure to introduce Nicolo
0:16
Richie um to us and as you can see we
0:21
are not in the studio today but we are
0:23
in a wonderful location it's the T prom
0:26
temple in cabonia where um the stepan
0:30
Richie team is producing uh the campaign
0:35
and the kind of look for the latest
0:37
collection so Nicolo welcome to thank
0:40
you great to have you with us this
0:42
amazing trip yeah thank you thank you
0:44
and Nicolo tell us a little bit about
0:46
about yourself so I am Bas in Florence
0:50
I'm 47 years old and I'm the CEO of uh
0:53
St company which is my family brand it
0:57
was started by my parents in 1972 we
1:00
were very young my mom she was 18 my
1:02
father was 19 and they you know they
1:05
came along through the World opening
1:07
stores to the years presenting their
1:09
collection which just started with the
1:12
simple ties and then they be adding
1:14
categories like silk shirts Cotton
1:16
shirts leather goods and uh it's been a
1:19
journey and me and my brother we very
1:21
proud to still with them because they're
1:23
present like to continue our mission
1:26
let's say this is our mission today yeah
1:28
wonderful so and then tell us uh a
1:30
little bit about the Stephan Richie
1:32
brand so what is the philosophy of the
1:34
brand and how would you describe theand
1:36
the philosophy I think my father had the
1:38
vision in the 70s trying to provide to
1:41
the consumer the best quality of raw
1:43
materials combined with the best design
1:47
and I think he's been loyal to that for
1:49
all his career in a sense that every
1:52
time we added the category we put the
1:54
same attention to details like we did
1:57
with our cor business which were ties so
1:59
we did not just add categories just to
2:01
increase volume yeah but we add
2:03
categories in order to provide something
2:06
special to our final consumer and this
2:08
has been very rewarding because our
2:10
clientele has been very loyal for many
2:12
years and they always give us the chance
2:14
to provide them with something
2:16
new and um so here we are in in Cambodia
2:20
and it is part of the Explorer project
2:24
of Stephan Richi and I I'm really
2:25
fascinated by that so tell tell us a
2:27
little bit about the you know how how
2:29
the Explorer project came to life well
2:32
this is is the fifth chapter of a
2:34
journey that brought us from luer in
2:36
Egypt to the north land of Iceland down
2:40
to Galapagos back North to Mongolia and
2:43
now here finally in in Cambodia we
2:46
believe that uh today the most uh
2:49
precious things and valuable things that
2:50
we have is time and time to explore the
2:54
world is what is really we are
2:55
suggesting and we are sharing of our
2:58
friends and clients being being able to
3:00
visit these uh sites with a different
3:03
eye so the eyes of uh exploring yeah I
3:07
think most of our clientele can afford
3:09
any kind of uh accommodation but the
3:11
fact that you go to the remote places of
3:12
the world where you can really enjoy
3:15
nature combining with a beautiful time
3:18
for yourself I think today is the like
3:21
the best achievement you can uh you can
3:23
have of course during these Journeys we
3:25
are showing through models our
3:27
collection which are not Primary in the
3:29
community
3:30
it goes beyond what is the message of
3:34
supporting wild life like we have doing
3:36
in Galapagos with Char Darwin Foundation
3:39
protecting the giant turtles or the
3:41
Royal eagal in Mongolia so wherever we
3:43
go we try to give our Le support on you
3:47
know when we talk about sustainability
3:48
of course becomes Primary in every
3:50
single company way yeah and I I remember
3:54
yesterday when I was talking um with
3:56
your brother a little bit he said um
3:58
that also your clients are explorers and
4:01
therefore this idea of of the Explorer
4:04
really is like a connection between the
4:06
clients and the brand it's really
4:08
bonding because as we of course has been
4:11
our vision is their Vision as so you can
4:14
also see today luxury lots of people are
4:18
moving their budgets into traveling and
4:21
leing the experience in remote places
4:24
and uh I think it's a great Trend could
4:26
support it's helping our client their
4:29
family amilies their kids to go abroad
4:32
and try to live these places which are
4:34
not the usual supect as me say it's not
4:36
the famous capital of the world but
4:39
remote areas where you can really enjoy
4:41
your time with nature and I have to say
4:43
now um this is the for me today the
4:47
third the third day here in um in um in
4:51
Cambodia and you know the the temples
4:54
that we have seen and the places that we
4:56
have seen and the connection with you
4:57
know history but also with with nature
5:00
re left a deep impression on me so um
5:03
maybe tell us a little bit how how did
5:05
you find this place and what were like
5:07
criteria to to decide that um Cambodia
5:11
is is the place to show your new
5:13
collection I think uh you know coming in
5:17
places like like this are taking taking
5:20
a look at these uh temples with the
5:23
first time for me as well you know we're
5:25
exploring to the web we're exploring to
5:27
our connection with the photographer
5:29
that using National Geographic
5:30
photography we exchange ideas yeah and
5:32
also through the friend Terry Garcia we
5:36
try to do to go those places that can
5:39
really leave an impact to you MH and
5:41
honestly what I've saw in Galapagos the
5:44
experience we did with the eagle hunters
5:46
and uh in in Mongolia the alai the GOI
5:50
and especially being there the first
5:52
light in the morning and the last for
5:54
last Light night when mainly most of the
5:56
tourists are not even out you know
5:58
waking up 4:00 3 30 4:00 and try to be
6:00
inside at the first light it's also
6:03
magical because it let you have the
6:05
place all for yourself MH so this is
6:07
always what I what I what I enjoy for
6:09
example living in Florence I've been
6:11
blessed because I grew up in one of the
6:13
most beautiful city in the world but
6:14
still what I really enjoy if I really
6:16
One Day by chance I have to really wake
6:18
up very very early walking in the
6:20
squares of Florence and being the first
6:22
one of being alone in a square that's
6:24
real luxury or you can enjoy as a
6:26
fessional place just with one side
6:28
wonderful this brings me to to another
6:30
question um because for example for me
6:32
also you know advising a lot of Brands
6:34
travel is super critical and super
6:36
important and you know every time I
6:38
travel uh even if it's just you know
6:40
sometimes being in a city for a day you
6:42
always observe things you see how people
6:43
are dressed and so on how how important
6:45
is travel for you and for for the brand
6:47
and also maybe for the creative Pro
6:49
fundamental mm
6:52
I really highly recommend also to the
6:54
creative team yeah that helps my father
6:56
and my brother to travel so support of
6:59
the trips to the capital of Asia the
7:02
capital of states or Middle East just to
7:06
understand you have to leave a little
7:07
bit go to those shopping malls go to
7:10
those restaurant go to those museums and
7:12
try to understand how fashion is
7:15
changing M of course we always have to
7:18
put our DNA and everything we design but
7:20
you know Trends you you catch them when
7:23
you leave them yeah so it's always very
7:25
important to travel and try to catch
7:27
them ahead of time mhm when F and this
7:30
brings me to to another question um you
7:32
know when we when we were discussing a
7:34
little bit earlier this morning you
7:35
mentioned that also you know for your
7:37
collections there is different tastes in
7:39
different places in in the world so
7:41
maybe tell us a little bit about about
7:43
that and how this impacts the ver today
7:45
we have 80 monor Brands M and they
7:50
spread from the states to Middle East
7:53
Europe southeast Asia of course yeah and
7:56
uh to
7:57
China every country
8:00
of course they they follow Trends but
8:02
they also have their DNA yeah and we
8:05
need to be in the middle because in some
8:08
countries uh people love silap shirts
8:10
with big prints yeah other countries
8:12
they don't so of course according
8:14
accordingly to the store we have to make
8:16
a selection one of course that it's
8:19
technically present in every stores but
8:22
then we let the managers of every every
8:24
country try to have their specific
8:27
selection in order to meet the local
8:30
taste yeah super and
8:33
um let me let's let's it's not NE
8:36
switching the the topic but something
8:38
that I would be curious to understand is
8:40
um and it's a question that I ask
8:42
everyone that comes on this podcast what
8:44
what does luxury mean for you what how
8:46
would you define the term because you
8:47
know this is a term that many people
8:50
Define in many way term has been abused
8:53
yeah so we try to so sometimes let's say
8:57
we try to step out of the world luxury
8:59
yeah and for us we've been using for
9:01
years the Excellency M Excellency which
9:04
is a step further because
9:07
uh I think when we talk aspirational
9:09
luxury then you get the the concept of
9:12
quality with The Branding gets confused
9:15
I would say first of all luxury or
9:17
Excellency is quality so let's start
9:20
from there your position quality is the
9:22
most important things in your collection
9:24
and then you create everything around it
9:26
I would say also that the places where
9:28
you can buy
9:30
quality is extremely important if you
9:31
see some of our boues in the world
9:33
they're done with the finest prior
9:35
wood with beautiful either travertin or
9:38
Limestone floor so also the environment
9:40
where you want to do the shopping
9:42
experience should meet the quality
9:46
standards and of course a super service
9:49
on behalf of our team so that is for our
9:51
for our Excellency concept the luxury
9:54
that we were talking is like it's an
9:55
amazing environment with a great service
9:58
and of course you unique beautiful
10:00
products that are made of the finest
10:03
Fabrics or materials in the world yeah I
10:05
love the word um Excellence because to
10:08
me it really you know means that um you
10:11
have to go completely out of the
10:12
ordinary and and aim for and for the
10:15
extraordinary and everything that you do
10:17
you know our Our Father me me and my
10:20
brother been the main lesson that our
10:22
father taught us is that guys start
10:27
where everybody else stops so you get
10:30
what is the best in the Market at the
10:31
moment and from there you find a way to
10:34
provide something better because at the
10:36
end our clients they do have everything
10:39
they don't need another Blazer yeah they
10:41
don't need another shirt but they need
10:43
emotions so you got to find those fibers
10:46
those designs those materials that maybe
10:49
has not been presented yet M and that
10:51
those clients those people they're
10:54
extremely successful people they really
10:56
need
10:57
to have one this see prise them give
11:01
them an emotion so this is the basic of
11:02
our business yeah I love also this idea
11:05
and I just want to reemphasize this of
11:07
of a surprise I remember you know many
11:09
years ago when um when I for for my
11:12
first book when I tried to define a
11:14
luxury I one of the terms that came to
11:17
my mind was luxury is almost the
11:19
business of permanent surprise you have
11:21
to always kind of reinvent things and
11:23
surprise the customers again this is
11:25
why fashion industry especially at our
11:28
level is extremely first of all the
11:31
competition is super high M but then
11:34
it's extremely difficult because you
11:35
have to reinvent yourself every six
11:37
months and being a familyowned business
11:40
by my my parents myself and my brother
11:43
we have to compete with the strongest
11:45
brand that today are on the market of
11:47
course I refer to the big French
11:50
conglomerates yeah or all companies that
11:52
make over billion and of course to
11:54
compete against these uh huge houses is
11:59
is extremely challenging for us but this
12:01
also give us the energy to come up also
12:03
with something more and more exclusive
12:05
and something more and more appealing to
12:06
our custom yeah and I also assume that
12:09
this allows you also you know being a
12:12
smaller brand in in a way to me also one
12:14
of the strengths is probably the the
12:16
strong connections that you have with
12:18
your clients and with your top clients
12:19
we I have to be honest we call them
12:21
clients many of them I'm proud to say
12:24
that are friends today because we had
12:26
the chance to spend time with them and
12:28
uh it's always very inspiring because I
12:30
would say the majority of them are all
12:33
self-made today millionaire or say
12:36
multimillionaires or billionaires that
12:39
uh uh there is always something to learn
12:42
about these people yeah because honestly
12:43
most of them start from nothing and
12:45
today they create an empire is always
12:48
aspiring to hear their story and to
12:50
share and Vis my vision and our vision
12:53
with them because they always tell you
12:56
and give you those hints those tips they
12:59
can help you to improve in your
13:00
collection sometimes even in life
13:02
because they can give you also Financial
13:04
advice you never know because those yeah
13:06
our clients being self-made people
13:09
always very successful and it's uh I
13:13
like to spend time with them and I can
13:15
say I'm proud to be friends with good
13:17
numbers of them yeah oh wonderful and so
13:20
we we discussed now about luxury being
13:22
let's say about the the extraordinary
13:24
about surprises and maybe even about you
13:27
know when I think about you just us the
13:29
name friends it's it it it's basically
13:33
also this human connection and the human
13:35
the human interface that that is that is
13:38
there so um if you think about for
13:41
example um the emotions that you want
13:44
your clients to feel so when they wear
13:46
Stefan Richie suit or a tie or a shirt
13:50
um what are kind of emotions that that
13:52
you want them to um to experience well
13:56
the most important thing when when the
13:58
wear things they must feel good I can
14:01
imagine them in the morning wearing one
14:02
of our shirt wearing one of our suits it
14:06
feels so good yeah this is our our
14:09
mission is to make them uh Happy Rel on
14:13
the way they look but also the way they
14:17
feel yeah because when you touch some of
14:18
our suit with our exclusive fabric it
14:22
makes you feel really special this is
14:24
why you say ah it's like I made it but
14:27
like I can't afford and I can
14:29
have in my closet something so unique
14:33
and of course if it's a made to measure
14:34
suit to make them feel 100% proud of
14:37
what they bought and what and the choice
14:39
that they had inwards the collection
14:41
yeah yeah and for example I I yesterday
14:44
evening when you know one of the models
14:46
was wearing this unbelievably beautiful
14:49
blue name I said oh this is this a
14:53
suit I need to have that so and it's
14:55
it's I I was so impressed because you
14:58
know even from a distance the the way
15:01
how the cut was the way how the C even
15:04
the the the who of of blue that was
15:07
there and you know I if you look at my
15:09
suit collection uh it's 70% Navy Blues
15:13
but I've never seen anything blue is the
15:15
stepan rich blue as we as we like to to
15:19
call it uh for us tailoring is
15:23
a very important part of the business we
15:26
do have 140 tailor yeah working for us
15:30
and the combination of their art and
15:34
this uniqueness of our uh exclusive
15:38
Fabrics that are me on our design and
15:41
the quality that we request makes them
15:43
really really special the tailoring I
15:46
think is the most difficult one of the
15:48
most difficult art in uh in clothing
15:51
yeah in um dressing in the men's
15:53
wardrobe and uh we are very proud that
15:56
we have some of the most talented
15:59
tailors in the world some of them been
16:02
working for us for over 20 years and uh
16:05
you know that is it's an art it's not it
16:07
can be jry you need to knowjust but you
16:10
need need to understand the client how
16:13
they want to look because everybody
16:14
wants who want to be a little bit you
16:16
know the a little bit tighter wants a
16:18
little bit loose so you have to read
16:20
when you measure them also the
16:21
psychology of the person that you have
16:23
in front that wants something special
16:26
and honestly once you find the key yeah
16:30
of what they want you have them for Life
16:33
M and uh this is our mission today to
16:36
get more and more clients that are
16:38
willing to buy exclusive fabrics and to
16:42
refresh their wardobe with st yeah of
16:46
course the one that we have they
16:48
constantly repeat every season ordering
16:50
made to Suits or jacket and pants
16:53
including shirts yeah then um
16:56
sustainability I think is also from from
16:58
from our conversations one of the things
17:00
that are very very close to to your
17:02
heart and also to have been always with
17:04
with your family so um tell me about a
17:06
little bit sustainability and you know
17:08
some some things that you're doing on
17:10
you know sustainability is something
17:11
been very it is one of the it's
17:14
extremely crucial in the in the luxury
17:17
industry and the fal business as far as
17:19
we could do in our production site where
17:23
we keep all our where we produce our
17:25
shirts our suits our leather goods
17:28
because as an energy impact we put solar
17:32
panels we remove all the plastic bottles
17:35
we change all the lights with LED so we
17:37
try in whatever is like our 10,000
17:39
square meter to being able to have the
17:42
minimum energy impact MH and the but the
17:45
most important is our supply chain so
17:48
from who's dying the letters from who's
17:51
dying the the the fabrics and finishing
17:54
the fabric for us we request a certifi
17:58
uh supply chain from everybody to be one
18:00
of our supplier we have inspectors that
18:04
check who's providing us with the raw
18:07
materials and as much as we can we try
18:10
to
18:13
support to give a support to the to the
18:16
industry but from my perspective what is
18:20
one of the most important part of
18:22
sustainability is to create
18:26
and provide to the future generation the
18:28
Heritage of our knowhow M so we do an
18:32
internal schools the either tailor F
18:35
makers either jewelry uh maker like
18:39
diamond Setters yeah we do have a lot of
18:42
young people entering within the the
18:44
company and of course it takes let's say
18:47
one and a half two years before they're
18:48
ready to create what we need so it's an
18:52
investment from our side because I think
18:54
we have a responsibility towards the
18:57
future to continue the Florentine
18:59
Heritage of tailoring of fair making tie
19:02
making leather goods of course is very
19:04
important yeah and we also have in house
19:07
a silverware production of chisel and
19:12
Engravings that uh we are now about to
19:14
look for another trainee because have
19:18
this gentleman been doing this for 40
19:19
years and it's time to provide to the
19:21
new generation how to
19:24
continue this business because otherwise
19:26
within 10 15 years all this how will
19:29
disappear yeah that's wonderful and this
19:31
brings me to almost connected to this as
19:33
you just say you know it's very
19:35
important also to keep the Heritage and
19:37
take it to the next generation and also
19:39
in terms of your clients um if we think
19:42
about you know the your youngest clients
19:45
Generation Z we have also a new
19:46
generation um coming coming in so are
19:50
there let's say or where do you perceive
19:52
the differences between the previous
19:55
generations and the new generations are
19:57
they different in terms of the
19:58
expectations are the different terms of
20:00
their taste so see the the future when I
20:04
enter the business
20:06
in 2001 for the family of course we have
20:10
a customer base which was older I would
20:12
say 50
20:13
55
20:15
up today it's changed a lot we have a
20:18
lot of people between 30 and 40 m uh
20:21
especially in countries like southeast
20:24
Asia and China and India yeah uh and
20:27
it's nice to see how many of them are
20:29
the sons of our clients yeah which were
20:33
looking at the father's wardrobe trying
20:35
to steal now and then a shirt or a tie
20:38
or a suit and the father said no this is
20:40
the rich you can't touch it it's my
20:43
collection and now they can afford it
20:45
yeah and um and there is also a big I
20:48
think uh change in uh in the world while
20:52
in the uh when I start in the beginning
20:55
of 2000 uh lot of of CEOs normally
21:00
people over 60 65 today the world is
21:03
changing the new new economy you can see
21:05
lot of CEOs being in their 35s 40s and
21:09
that's also help them to have a higher
21:11
budget to afford the most um unique
21:14
product and this is how I think today we
21:17
do have more people in a younger age M
21:19
yeah wonderful and if maybe in this kind
21:23
of new world where you have maybe
21:25
younger customers what what does uh kind
21:28
of success look like or what are success
21:31
factors now for a brand that that has a
21:34
more and more young young clientele Did
21:37
You observe any changes from let's say
21:40
20 years ago to to now uh from our side
21:44
we
21:45
decided first of all luxury change a lot
21:48
so the high-end production and high-end
21:51
collection they change a lot while 20
21:53
years ago logos and uh a little more
21:57
flashy M were supposed to be the
21:59
collection the last 78 years we see a
22:01
lot of trend Chang it into everybody's
22:04
talking about this quiet luxury I would
22:07
say it's a luxury with the basic colors
22:12
MH with a very small logo because people
22:14
still would like to show what is the
22:18
brand they're wearing yeah and this is
22:20
getting into the mind I think it's like
22:21
a phases where you want to show phases
22:24
where you want to show less one day
22:26
we're going to get back like you know
22:27
it's like double rested two botton three
22:29
buttons that are weights yeah and for
22:31
example now we are living a moment where
22:33
people want to wear suits made to M
22:35
suits and uh very comfortable maybe they
22:39
constructed the shoulder should not be
22:41
as strong as constructed as before but
22:44
uh being able to go outside in an
22:47
elegant way M with super materials then
22:51
you know because you touch but people
22:53
can tell but they cannot tell if they
22:55
don't touch yeah and this I think is the
22:57
key now to show yourself out wearing
23:00
exclusive garments but not showing up
23:03
this is what changed in the last 20
23:04
years I would today so we can say maybe
23:06
even the would it be right to say that
23:09
in this aspect probably customer
23:11
expectations are increasing and going
23:13
going up with the new generation
23:15
customers today they also want to hear a
23:17
story yeah it's not just about the it is
23:21
of course the main driver is the
23:22
collection but they want to know the
23:24
story about your brand yeah they love
23:27
and we exper this in the
23:30
last I would say six seven years M
23:33
because we show the beauty of Italy yeah
23:36
our campaign was shot throughout Italy
23:38
like this Timeless Journey around secret
23:40
places yeah the of Italy and with the
23:44
Explorer so I think with our
23:45
communication through the world through
23:47
what we're doing about the natural
23:49
environment lots of younger people have
23:51
been approaching us because they got the
23:54
message so there should be a message an
23:56
experience and the product combine these
23:59
things I think today you can be
24:01
successful yeah of course it took us
24:03
also 50 years to be where we are so to
24:05
start today a brand and entering in the
24:10
mind of these people which are very
24:12
demanding yeah is not easy yeah is it is
24:14
it if feel bth yeah I really love what
24:17
you just said because I see you know
24:19
when I'm advising brands in all
24:21
different categories typically I
24:24
sometimes I have to convince um you know
24:27
the leadership team about the importance
24:29
of the storytelling and I love that you
24:30
know for Stephan Richie this is already
24:32
something that you have for many years
24:35
deeply ingrained and I also believe that
24:37
this is something that is getting more
24:39
and more important in in our world that
24:41
is more and more connected maybe also
24:43
more digital and because it's more
24:45
digital I Think We crave for for really
24:47
knowing you know what what is real and
24:49
what is not real and what is authentic
24:51
and what is what is not authentic so I
24:53
think also authenticity is is super
24:55
important for for you know for us we we
24:58
put our face on the front row so either
25:01
me and my brother we meet people we go
25:04
inside when we do the shooting yeah we
25:06
are in place I'm in production uh we are
25:09
visiting the stores we meet with client
25:12
we should that this is not just a
25:13
Brandon name invented it's just a family
25:15
brand with the family that continues to
25:18
commit that we have a team that has been
25:20
with us some of the guys you see they
25:22
are today 50 but theyve been with us
25:24
already 30 years yeah so they enter in
25:27
the in the the sales team or they enter
25:30
in the marketing team but like whatever
25:32
you look around people like been many
25:35
many years so the commitment of the
25:36
family and the commitment on the field
25:38
is of the the commitment of the team is
25:40
real you can really feel it yeah no and
25:42
I can also even say you know in this in
25:44
this last um three days when I met your
25:47
team they're all like it feels like
25:49
family and also it feels very W
25:51
welcoming to be to me among all of you
25:53
so thank you also for so you know beside
25:56
that I would say that U
25:59
we are a normal family we like normal
26:02
things you know the weekends in the
26:03
countryside we like good food we like to
26:06
be sit at the table with the family and
26:08
friends we like a nice glass of
26:12
wine we like to spend time walking in
26:14
the countryside so there is no
26:16
Superstars M there is
26:19
no let's say primadona that has must
26:22
have all the glory around it it's like a
26:24
family and a team they like to do what
26:27
they do we like to spend time with our
26:30
clients friends have great exchange of
26:32
ideas and try always to come up with new
26:34
idea trying to be exciting for whoever
26:38
reads about us yeah then um coming a bit
26:43
to the end of our of our podcast today
26:45
is there anything you want to also share
26:48
still that I didn't ask about the brand
26:50
maybe something that that we have not
26:51
touched on about maybe the customer
26:53
experience or so so anything that that
26:56
you feel is we've been challenged by our
26:59
clients to always do something new and
27:02
different and for the last 10 years we
27:04
entered the world of Interiors yeah and
27:07
uh recently we've done a beautiful
27:09
apartment in uh Florence we've done a
27:11
beautiful suite at the pront hotel in
27:15
Vio we are about to unveil another
27:17
beautiful Suite in tosan again uh we are
27:22
about to make another big project in
27:24
Middle East I'm still still under NDA so
27:27
I cannot Comm yet but we are really
27:30
entering the word of Interiors real
27:34
estate creating project for our clients
27:37
because as I say they always give us the
27:38
chance to provide them with something
27:40
unique and being able today
27:44
to have one of our one of their homes
27:48
designed by us with our furniture with
27:50
our accessories I think it's really
27:54
really unique we've done few they were
27:56
very successful so we have now number of
27:58
requests by your by our clients and one
28:02
after the other we are entering to this
28:04
world oh wonderful so it's it means also
28:06
that the brand is and and you said this
28:09
in the beginning that it started with
28:11
ties and then basic gradually went to
28:14
two more things in the body so now it
28:16
becomes really like a in a sense it's a
28:18
lifestyle it's a lifestyle we produce we
28:21
do have a our our wine since over 10
28:24
years our champagne and you know then we
28:26
enter the jewelry business and we do it
28:29
in in house yeah uh our watches and
28:33
we've been producing for the last two
28:34
years which was very successful super my
28:37
so you know I think there is a word of
28:39
opportunities for us because our client
28:42
they like to give us the chance because
28:44
they believe in what we do how committed
28:46
we are and they're always ready to hear
28:48
and to have something new from us yeah
28:50
wonderful so my very last question is um
28:54
where do you see the next 10 years 15
28:58
years 20 years maybe the kind of the
29:01
future of luxury the future of Lifestyle
29:03
the future of fashion going when you see
29:06
like you know we have um new
29:08
technologies coming everyone now speaks
29:10
about artificial intelligence and and so
29:12
on so where do you what where do you see
29:15
kind of the industry heading in in the
29:16
future so of course technology today is
29:20
giving you some really serious
29:23
advantages I would say AI in a matter of
29:27
like special marketing trying to help us
29:30
to propose through pictures with our CRM
29:34
trying to get to the client and
29:36
providing what looking at his history
29:38
what is willing to buy next M at the
29:41
moment we every manager knows so we do
29:44
more manually because we handpick our
29:46
selection we send pictures to them AI
29:49
I'm sure will help us to better improve
29:51
AI is also can help you to predict the
29:54
buying so also make forecast for the Feb
29:57
you will need of course there is it's
29:59
very important to always be aware of
30:02
time and not close within your world and
30:05
not be open to understand what there is
30:07
some things I've been approached but it
30:09
could work if you have over 500 stores
30:12
yeah and the numbers should be much
30:14
bigger still we have 80 stores yeah the
30:17
company it's a midsize company and
30:21
uh we are looking at it for sure they're
30:24
going to help us to improve but what is
30:27
what I'm the most most concern today and
30:29
where we are focusing this year and of
30:31
sure next year it's acquiring um
30:36
minorities or majorities of our supply
30:39
chain because I think in the future
30:41
there going to be a lack as we said
30:42
before when we talk about sustainability
30:44
is to keep
30:46
on continuing the heritage of the work
30:49
of the workforce and the craftsmanship
30:51
that we have so priority it is to secure
30:55
the supply chain have it within your
30:58
word m and be sure that these people are
31:01
going to be loyal to you and can help
31:03
you to deliver to the market those
31:05
amazing product that they are able to do
31:07
yeah wonderful super then nicholo thank
31:09
you so much
31:10
for great great to spend this hour with
31:13
this this time with you yeah wonderful
31:15
thank you thank you
31:20
[Music]