Latest / The Future of Luxury Podcast with Dr Daniel Langer / #1 - Luc Rochereau: General Director of Marco Valente on Emotional Connections in Luxury

Transcript

#1 - Luc Rochereau: General Director of Marco Valente on Emotional Connections in Luxury · The Future of Luxury Podcast with Dr Daniel Langer

• 0:02
  [Music]
• 0:08
  so it's a huge honor to have for our
• 0:10
  first future of luxury podcast Luke
• 0:13
  rerio with me today and um you know
• 0:17
  before we start our discussion I have to
• 0:19
  say that um when I thought who do I want
• 0:22
  to invite for our Premiere the first
• 0:26
  person Luke that came to mind was you
• 0:29
  and you know we both share an immense um
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  I would say passion and pleasure around
• 0:34
  the topic of luxury I remember our very
• 0:37
  first um I think it was even a zoom call
• 0:40
  the very first time we had a one-on-one
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  call which was I think uh meant to be uh
• 0:46
  kind of 30 minute get to know each other
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  I think ended up being almost like a
• 0:50
  three-hour
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  conversation and then I also remembered
• 0:53
  because you know these kind of things
• 0:55
  typically don't really happen but when
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  they happen then to me it's always an
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  indicator
• 1:00
  that um you know we were supposed to to
• 1:02
  meet so Luke and I were um we met after
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  um a master class I did um on on luxury
• 1:11
  for for the rishar group and um
• 1:13
  afterwards Luke um messaged me and said
• 1:16
  let's have a quick conversation and so I
• 1:18
  Was preparing as I said for this maybe
• 1:20
  30 minute uh call and I think we talked
• 1:22
  probably like 3 hours um and after the 3
• 1:25
  hours I think you said oh we should meet
• 1:27
  we should meet one day let me know know
• 1:30
  when you are in Switzerland next time
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  and I think this was on a Friday and I
• 1:36
  was about to actually head to the
• 1:38
  airport to fly to Switzerland and then I
• 1:41
  think two or three days later we met in
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  in Zurich continued our
• 1:47
  conversation you gave me um bit of an
• 1:49
  insight into um the IWC flagship store
• 1:53
  on
• 1:54
  barov and then we had a wonderful dinner
• 1:57
  and this was basically the start of not
• 1:59
  just um a professional um relationship
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  but really a friendship and so again
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  very very um big welcome to you and I'm
• 2:08
  super happy to have you um in my podcast
• 2:11
  today thank you Danielle yes yes indeed
• 2:14
  which was a uh it was a good connection
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  on the first time and uh it last for for
• 2:21
  several minutes and then the coincidence
• 2:24
  was that the next day or the next second
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  day you were in in Switzerland and in
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  Zurich so
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  where I was I'm bed at that time and uh
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  so we had a very good meeting and we
• 2:36
  kind of a a big exchange on on on the
• 2:39
  luxury industry and what was specific
• 2:42
  about
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  Zur yeah and you know for me and you
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  know in a in a moment maybe go a little
• 2:48
  bit deeper on um describing yourself but
• 2:51
  what to me um has always been something
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  that fascinated me on you know your your
• 2:56
  career and also your your life is um
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  that you're true citizen of the world
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  you know you lived I think um in so many
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  different places including Paris London
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  you lived in Moscow and Dubai and um you
• 3:11
  know traveled the world um and I think
• 3:14
  your entire career was was you know in
• 3:17
  different categories on luxury maybe
• 3:19
  tell us a little bit about your your
• 3:21
  career and um how you got where you get
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  to went
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  today it was pleasure uh actually this
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  uh this enter in the luxury world is
• 3:33
  thanks to my childhood I had a very
• 3:34
  International International childhood I
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  was born in Africa I grew up in the West
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  Indies in the Caribbeans and in the
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  South Pacific I learn my English in New
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  Zealand as well as my Cricket my golf
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  and to shave a ship because you never in
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  in life what's what's going on but it
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  gave me the test of international
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  business and uh and uh to meet everybody
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  to talk to everybody to eat every kind
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  of gastronomy of course and and and
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  drinks and um luxury was a a natural
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  choice because I have a a strong
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  appetite also for uh artistic um
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  artistic um uh design and and and
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  culture and uh I did in 1991 the first
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  dedicated uh luxury MBA sponsored by K
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  in Paris I was fortunate to be to be
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  enrolled in that MBA and um at that time
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  it was a the MBA was launched by Cartier
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  so it was launched by Mr Alan Dominic
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  pan was the CEO of kti and Michelle
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  gutan was the international chief
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  commercial officer and um I had the
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  chance to meet at that time Mr joh W
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  mes who is was the CE ofs at that time
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  Mr Pier B was the Mr was the CE of Louis
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  V it was still a family own business and
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  uh and and many also Artisans you know
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  who explain us to the the value of
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  craftsmanship in the in different field
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  of of luxury and then I entered my my
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  career in the in the cosmetics and and
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  perfumer Industry I move on on fine jury
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  on um on crystal with the uh the zorski
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  group for four years um and I uh I
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  travel all around the world as you say
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  the findery I was traveling three weeks
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  per month well while in every Market to
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  meet Distributors agent or or big
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  retailers and then I after the Zori
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  group I even some uh private
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  Equity um I joined also after the
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  Richmond group for 12 years and my last
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  Ro was a managing director for Europe
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  Middle East India Africa and latam for
• 5:43
  IWC shafen a fantastic
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  autology brand and and and manufacturer
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  and recently I joined a a hury brand
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  based in Milan called Marco Valente High
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  jury and um it's a brand that was
• 5:58
  created in 195 3 and uh we are
• 6:01
  relaunching the brand on the hydr
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  segment uh around the world and uh so I
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  did all my career in in in in luxury
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  goods and and and different industry in
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  this lexury
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  Goods wonderful and this maybe you know
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  leads me to my my first question it's
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  the question that I get I would say
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  probably most often and I'm curious you
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  know what how you would Define it and
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  what your thoughts are but the first
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  question is what is luxury for you what
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  what does the term mean because you know
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  it's so overused everyone has maybe a
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  different different opinion on what it
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  is so what does it mean for
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  you well you know since I uh I started
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  my career I use always the same
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  definition and it's always working for
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  me luxury is based on on four pillars
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  always those four pillars the first one
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  is the the exceptional quality of the
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  raw material so you have to use the the
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  best gold that you can find if you're
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  working with gold or or leather or um um
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  elements if you're working in in
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  Gastronomy the second pillar is the
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  craftsmanship so for example in Auto
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  lery you have to to get the best watch
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  makers uh the best gold smith in fery
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  the best the best cooker the best chef
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  in in in Gastronomy for example or or in
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  leather goods uh people will sh the the
• 7:28
  leather you know at the Perfection like
• 7:31
  people from heres are doing so well uh
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  the third pillar will be uh a real
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  history not just a marketing concept but
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  a real history with strong values for
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  the Meson the manufacturer the brand um
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  and actually it can be a old Meson or a
• 7:49
  new one because you have to remember
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  that every old Meson was new at once so
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  um but you need to have a very very
• 7:57
  strong story and you have to to to to to
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  to be focused on your your stories and
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  your values and the fourth pillar is a
• 8:07
  an exclusivity because you're not in
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  mass production um so because you are
• 8:13
  you have craftmanship um you're not in
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  mass production so um you need a certain
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  exclusivity it's if you're going to mass
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  then you're you're competing again the
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  the mass market and the volume so it's
• 8:26
  for me it's not
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  anymore a definition of luxury you may
• 8:30
  be premium on your Market but but not
• 8:34
  totally
• 8:35
  luxury and all those four pillars they
• 8:38
  should they should work together to
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  create what I call an
• 8:43
  emotional uh an an emotional key to to
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  the client uh that will trigger the the
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  the willingness to to purchase your your
• 8:54
  product or your service by the way this
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  definition apply also to luxury of
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  service like Hotel industry or or
• 9:00
  hospitality
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  industry yeah I love this definition and
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  I love how
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  you kind of summarize it into the idea
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  of the emotional key uh because I think
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  to to me um you know when we think about
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  luxury and creating
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  desirability is not a purchase that is
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  um that is purely rational there can be
• 9:24
  some rational aspects to it depending on
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  the product category and so on but
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  fundamentally when we buy luxury we buy
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  luxury because you know we fall in love
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  with a brand if we fall in love with a
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  brand then there has to be an emotional
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  response so I I'm really like this idea
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  of the emotional key and I also really
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  like um you know what you said that a
• 9:44
  brand has to have real history but you
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  you used the word that I think is very
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  important when you said um you know it
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  can be an old history or new history but
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  that there has to be a story and maybe
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  let's discuss this a little bit um more
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  in detail because to to me um you know
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  as you know from all our discussions the
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  brand storytelling is so critical for
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  for Brands and this is where I see in
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  reality today many Brands struggling
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  because sometimes they just use history
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  as something like abstract you know they
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  say ah we have 200 years or we are from
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  I don't know Paris or Milan or London
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  and so we are now a 200 years old
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  company from from London and I always
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  like to say this is not enough because
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  this doesn't give us as a customer
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  really like something tangible like an
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  emotion for it so um let's discuss a
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  little bit stories what are kind of
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  interesting stories maybe that in in in
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  luxury or how how can a brand really
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  create this this authentic
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  story you know you you uh most of the
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  brands now M they they started very
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  smaller through the the the creation and
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  the the willingness of an artisan if I'm
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  talking about
• 11:06
  articles I don't like so much the word
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  about products because products is a
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  it's something that to consume and and
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  an article is something that will last
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  in and in in your life or or your memory
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  um very strong and I prefer to talk
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  about clients and not consumers because
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  you don't consume luxury luxury normally
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  is something that you don't need to live
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  U to to to even to to survive it's not U
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  uh it's not something that you your your
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  your your life is based on um um but
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  it's it's it's it's something that
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  trigger that will that will tickle your
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  your emotions because like every brand
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  has a DNA every client has a DNA so the
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  the game is for each brand and each mes
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  uh to understand the DNA of your client
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  or your prospect your your future client
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  to know where to um to pull the uh
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  emotional what I call the emotional key
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  between the two DNA because if a client
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  is interested only in design and in
• 12:10
  colors you don't need to talk to him
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  about the quality of uh you know
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  manufacturing and craftsmanship and um
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  so many young sales ambassadors in
• 12:21
  different boutiques they are so proud to
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  give the speech of the brand on the meso
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  without knowing who are they talking to
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  and why the client is in your boutique
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  in front of them so it's very important
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  to to touch the emotion of a of a client
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  but you have to to know in his DNA what
• 12:41
  is very close from your own DNA so if
• 12:44
  the client is has different
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  specificities of his DNA which is Common
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  from your own DNA that it's very easy
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  you don't have to to to to to push too
• 12:54
  much to to be able to to have a
• 12:56
  commercial relationship but um you you
• 12:59
  need to know it's very important for
• 13:01
  each brand and each meso before to
• 13:04
  address to to these clients directly but
• 13:08
  to know your client so you you you need
• 13:10
  a lot of time and you need to take the
• 13:12
  time to know your client before to to to
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  speak to them and to to to speak to them
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  it's it's to have a conversation so
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  before you know it's it's the same in
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  life when you start a conversation with
• 13:24
  somebody but you need to know the more
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  you know the person in front of you the
• 13:28
  more your conversation will be um um
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  richer and richer and then uh then
• 13:34
  better and better so it's the same in a
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  commercial relationship especially on
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  the on the luxury industry where at 99%
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  the the decision to to buy an article or
• 13:47
  a service of luxury is based on pure
• 13:50
  emotions pure emotions so that's where
• 13:53
  also emotional intelligence is a has a
• 13:57
  strong strong role to play in the in the
• 14:01
  especially in the exchange between a
• 14:03
  sales Ambassador for example and and a
• 14:05
  client I remember Luke um one of our
• 14:08
  last discussions you told me that um the
• 14:11
  difference between a salesperson who is
• 14:14
  able to unlock this emotional key or you
• 14:17
  know to tap into this emotional key and
• 14:20
  a person salesperson who who doesn't
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  have
• 14:23
  disability is quite dramatic in terms of
• 14:26
  sales and sales result um so can you
• 14:29
  elaborate a little bit on your
• 14:31
  experience there between let's say top
• 14:32
  salese and how they do that and you know
• 14:35
  maybe the average sales people or
• 14:37
  someone who's who is maybe you know
• 14:40
  either not trained yet right or um is
• 14:43
  not able to to unlock so how does
• 14:45
  unlocking this key work and what is in
• 14:47
  your experience the difference between
• 14:49
  someone that is really excellent in this
• 14:51
  and someone who is maybe more mediocre
• 14:53
  but uh the first I would say the the the
• 14:56
  when you want to to to give a ranking to
• 14:58
  to to sales people and at every level by
• 15:01
  the way um um it's when you go to to a
• 15:05
  boutique and you you you you start a
• 15:08
  conversation with a sales Ambassador and
• 15:10
  you will see
• 15:12
  immediately if a sales Ambassador
• 15:14
  propose you you know if you go to a
• 15:16
  watch Boutique that I know very well if
• 15:18
  you just propose you two or three
• 15:20
  watches and just tell you describe you
• 15:23
  what you can see with your own eyes so
• 15:25
  if they say okay this is a red dial with
• 15:28
  a uh a blue strap and with a chronograph
• 15:31
  but thank you very much but I can see it
• 15:33
  with my own eyes so there is no emotions
• 15:37
  that you can you can pass to to to your
• 15:39
  client so uh the the the we know that in
• 15:42
  the art of selling the the first part
• 15:44
  it's the Discover phase of your client
• 15:46
  you have to know why he's in the
• 15:47
  boutique if he knows the brand so if he
• 15:49
  knows the brand yes or no if he knows
• 15:52
  the brand how do you know the brand ah
• 15:54
  maybe ah you have a I have two watches
• 15:55
  already you have a collection which
• 15:58
  which was do you etc etc then you can
• 16:00
  explore if he doesn't know the brand you
• 16:02
  don't know the brand do you know that
• 16:04
  this brand was created by blah blah blah
• 16:06
  Etc you can start the story and are you
• 16:09
  here on on on a visit I don't know if
• 16:12
  the boutique is in in Dubai um you one
• 16:15
  of the first question you have to ask if
• 16:17
  you're in Dubai for how long are you in
• 16:18
  Dubai are you in Dubai for one day or a
• 16:20
  week so you we have time for the
• 16:22
  conversation you have to know this this
• 16:24
  kind of information but um uh you have
• 16:28
  to talk to your client and to ask a lot
• 16:29
  of question to know your client so you
• 16:32
  have to listen to listen to your client
• 16:34
  and to ask question to know where where
• 16:36
  to go and which direction to take if a
• 16:39
  lady is coming with a lot of shopping uh
• 16:42
  bag you know with different brands but
• 16:43
  she love Brands so you will talk about
• 16:45
  the brand you will not talk about the
• 16:47
  the the complexity of the tub of the
• 16:50
  watch Etc um if um if a gentleman is
• 16:53
  coming and say oh I visited this Museum
• 16:56
  this exhibition it's fantastic it's very
• 16:59
  on art design Etc so you will you will
• 17:01
  emphasize this part of your of your of
• 17:04
  your article uh you you really have to
• 17:07
  know your client and and to to trigger
• 17:10
  the the emotion um we exchange a lot I
• 17:13
  told you that one of my best exper in
• 17:15
  life was when I was a I had a dinner
• 17:18
  with some clients and Prospect and and
• 17:20
  my team told me Luke a very important
• 17:22
  Prospect will will come the CE of a
• 17:25
  bank we had a very fine dinner
• 17:27
  gastronomic dinner
• 17:29
  and I said okay I take the challenge
• 17:31
  please I would like to be sitting near
• 17:33
  him and he came in jeans you know a Polo
• 17:36
  short Le with a plastic watch and I was
• 17:38
  supposed to sell him a watch above
• 17:42
  100,000 EO and U and um and it was a
• 17:45
  long night because every question I
• 17:47
  asked he was not interested you know we
• 17:49
  were serving gastronomic dinner he asked
• 17:51
  for Coca some Coca-Cola and catch up
• 17:53
  with his with his F so I was desperate
• 17:56
  from the beginning I said to myself oh
• 17:58
  it's going to be a very very long night
• 18:00
  and after trying everything you know
• 18:02
  find Fine Wine fine Gastronomy Fine Cars
• 18:05
  you know travels Arts Opera Sports
• 18:09
  everything y Ying whatever there was a
• 18:13
  no no interest at all it and I was in a
• 18:16
  country where you there is a tradition
• 18:17
  at the end of the dinner when the
• 18:19
  business is finished you can you can
• 18:21
  talk about personal matters and I say oh
• 18:23
  my my son was just born a couple of
• 18:27
  weeks in in New Country so relationship
• 18:29
  with the country will be forever and
• 18:30
  suddenly I saw sparkles in the eyes in
• 18:32
  his eyes he show me pictures of all his
• 18:35
  family you know on his iPhone and d and
• 18:37
  I understand that his only his only goal
• 18:40
  in life was his family the only goal in
• 18:43
  life he was working like H has not not
• 18:45
  many free time and so two weeks after I
• 18:48
  invite him and his five kids to Legoland
• 18:51
  in Germany and then um one week after I
• 18:54
  got a fantastic reward because he spent
• 18:57
  more than one million
• 18:59
  Dollar in buying Watchers for his family
• 19:01
  and the board of his bank has gifts um
• 19:05
  and uh and he told me look you you found
• 19:07
  the the only thing that is important for
• 19:09
  me in life and this is the key we have
• 19:11
  the to find the the the the the emotion
• 19:15
  that will uh uh that will Sparkle in the
• 19:18
  eyes of of your your clients and for any
• 19:21
  kind of reason every client is is very
• 19:23
  different from one to
• 19:25
  another yeah this this shows also that
• 19:28
  you know when we think I I use very
• 19:30
  often the the the terminology extreme
• 19:33
  value creation as a as a proxy to
• 19:37
  describe luxury and why I like it is it
• 19:40
  almost forces you when when you really
• 19:42
  think about the term it forces you to
• 19:45
  think what creates extreme value for a
• 19:48
  specific person for a specific human you
• 19:51
  know because sometimes when we Define
• 19:53
  luxury too much on the object you know
• 19:55
  it's and it's so easy because the object
• 19:57
  is tangible you know if you take the
• 19:59
  watch um then there is like hours
• 20:03
  sometimes weeks months years of
• 20:05
  craftsmanship that goes that goes in
• 20:07
  producing that so it's kind of you know
• 20:09
  sweat and tears and this is what we as
• 20:12
  humans is is very kind of tangible and
• 20:14
  what we are gravitating to so so many I
• 20:17
  would say in in sales as you said there
• 20:20
  is the almost natural tendency to want
• 20:23
  to describe what we already see as as as
• 20:26
  you you said but fundamentally then we
• 20:28
  we waste the time of people because they
• 20:30
  can see it with their own eyes and
• 20:32
  sometime somehow it's also not that
• 20:34
  important this is also I think what was
• 20:36
  to me very important from what you just
• 20:38
  just said you know when you said okay
• 20:40
  maybe if someone goes let's take a watch
• 20:43
  example to buy a watch and for this
• 20:45
  person it's all about the
• 20:47
  design then it doesn't really matter how
• 20:49
  many complications are there you know
• 20:51
  it's a nice additional information but
• 20:53
  it's not going to be what what creates
• 20:55
  this emotional bond but I love this
• 20:57
  example that you just gave of your
• 20:59
  client where something completely
• 21:02
  different triggered the emotion and it
• 21:05
  was the connection with family and the
• 21:07
  connection probably also with seeing you
• 21:10
  and I use maybe the word now but seeing
• 21:12
  you almost as a friend because you were
• 21:14
  able to you know connect with him maybe
• 21:18
  discover something that maybe for the
• 21:21
  rest of his life when he went to other
• 21:23
  brands and to other stores no one
• 21:25
  actually you know connected on that
• 21:28
  level with him or maybe showed him the
• 21:30
  appreciation to what is really important
• 21:32
  to him and then he said okay this is now
• 21:35
  where I want to connect this is I think
• 21:37
  what is so fascinating to me in luxury
• 21:39
  that it's that the human factor is so
• 21:41
  critical and so important and you know
• 21:44
  we we often focus a lot on the product
• 21:47
  and you know you put it in your
• 21:48
  definition also you have to have
• 21:49
  exceptional quality of raw material you
• 21:51
  have to have great craftsmanship so
• 21:53
  there's of course product components but
• 21:56
  if this emotional component is not there
• 22:00
  then basically all the other things are
• 22:03
  they they I don't want to say they fall
• 22:04
  apart but they don't matter so much
• 22:06
  anymore no no to totally agree with you
• 22:09
  I I I I am totally convinced and more
• 22:13
  and more by the way that the technology
• 22:15
  is coming uh we are in a connection
• 22:17
  business we are not in a traffic
• 22:18
  business so the connection with your
• 22:21
  between the client and and the brand so
• 22:24
  it means it's representative it can be a
• 22:26
  sales Ambassador it can be you know I
• 22:28
  don't know the CE of the brand it can be
• 22:32
  um an
• 22:33
  ambassador a role model it can be a an
• 22:37
  actor can be a
• 22:39
  sportsman is very important so the the
• 22:42
  we are in a
• 22:43
  relationship business model so I think
• 22:46
  that more and more we go the more and
• 22:49
  more Ai and the machines are power
• 22:53
  powerful sorry the more and more the
• 22:55
  relationship the human relationship will
• 22:58
  be important because you can be you can
• 23:01
  be in for a product for example you can
• 23:04
  have the best location for a boutique
• 23:06
  you can have the best brand the biggest
• 23:08
  marketing
• 23:09
  spending um uh everything if the
• 23:13
  relationship between a human being and
• 23:16
  the client is a
• 23:18
  disaster every everything that you have
• 23:21
  done all your investment that you have
• 23:22
  done as a as a as a shareholder is um is
• 23:28
  falling apart because you have to always
• 23:31
  remember so that in this human
• 23:33
  relationship the part of the service is
• 23:36
  so important so
• 23:38
  important I I love this quote from waren
• 23:40
  Buffett if you
• 23:42
  remember he bought a tie 15 year 10 or
• 23:45
  15 years ago he doesn't even remember
• 23:48
  the tie or the price of the tie but he
• 23:50
  remembered the Exquisite quality of
• 23:52
  service that he receive at that time so
• 23:55
  the emotion due to the service that he
• 23:57
  receive it's outstanding and will stay
• 24:00
  by the way the the service is the the
• 24:03
  emotion that will stay uh the the more
• 24:07
  longer so for forever uh I quote you I
• 24:12
  exchange with you an amazing story that
• 24:14
  I had a few days ago in Air France I
• 24:17
  didn't fly Air France for for seven
• 24:19
  years for different reason and then I I
• 24:21
  flew again uh last
• 24:24
  month uh I took two flights in in one
• 24:26
  day in Europe and on my seat and I was
• 24:29
  not in business I was in coach or on my
• 24:31
  seat I had a card Mr Ro we very happy to
• 24:35
  welcome you back blah blah blah etc etc
• 24:37
  because I had a I had a great great cart
• 24:40
  I was flying so much at once that I had
• 24:42
  a great cart and they still have the so
• 24:44
  I found this this uh this little gesture
• 24:48
  was I was overwhelmed you know I was I
• 24:51
  was nobody the the chef the cabin came
• 24:54
  you know I was in coach they offer me a
• 24:55
  glass of champagne everybody thought I
• 24:57
  was a super I'm not at all so but but
• 25:00
  the quality the quality of service at
• 25:03
  that time was was fantastic and of
• 25:05
  course I was super touched and it's
• 25:06
  something that I will always remember
• 25:08
  and I can tell you that I I work in very
• 25:11
  very different Industries every time you
• 25:13
  give that kind of level of service
• 25:16
  unexpected to your client is so
• 25:19
  important you know in so many Industries
• 25:21
  we believe and it's a a big mistake that
• 25:24
  a lot of lot of companies are are doing
• 25:27
  still now
• 25:28
  uh they believe that the client is a
• 25:30
  client when he enter the boutique and
• 25:32
  and after he left the boutique and he
• 25:34
  paid and he passed the door and then
• 25:35
  after we forgot about the client we we
• 25:37
  don't know the client before and
• 25:39
  sometimes in many Industries we know the
• 25:41
  client before especially in the hotel
• 25:44
  industry we exchange about that you know
• 25:46
  that somebody is doing a booking so you
• 25:48
  know the profile it's it's a fantastic
• 25:52
  luck you know the profile of your client
• 25:54
  who is coming to your hotel so you can
• 25:57
  you can have a touch point and we're
• 25:59
  talking about touch point now so you can
• 26:01
  have a touch point before your client
• 26:04
  coming to the hotel so before the
• 26:05
  arrival at the checking during D St
• 26:08
  after th St so you can you can enhance
• 26:11
  and increase the emotional relationship
• 26:15
  with your client as a as a level that uh
• 26:17
  that I can tell you not a lot of people
• 26:20
  not a lot of companies are are doing at
• 26:22
  the moment and this is this is the where
• 26:25
  you have to invest uh some resources and
• 26:28
  some human capacity because when you
• 26:31
  have this kind of relationship your
• 26:32
  clients will follow
• 26:34
  you uh for forever for sure 100% it's
• 26:39
  fascinating that you that you you know
• 26:41
  bring up now also hospitality and we
• 26:43
  just did a study uh recently where we
• 26:47
  could show that um you know when how
• 26:51
  how which word should I use maybe how
• 26:54
  tough it is so to speak to build up
• 26:56
  loyalty especially in the luxury sector
• 26:59
  and I think this also has to do with
• 27:01
  what you said before with the emotion
• 27:02
  because you know we may also as humans
• 27:05
  we have to kind of trust that emotion
• 27:07
  also is repetitive so in in non-luxury
• 27:12
  purchases or
• 27:14
  experiences you actually build loyalty
• 27:16
  relatively fast you need just a few
• 27:18
  interaction point and people get used to
• 27:20
  this but when it comes to luxury to
• 27:23
  really that someone really feels loyal
• 27:25
  you need about 20% more efforts to and
• 27:30
  and more interaction points to bring up
• 27:32
  someone who is loyal but now to lose the
• 27:37
  loyalty is dramatically faster it's like
• 27:40
  one point about 1.7 interactions that
• 27:43
  are below
• 27:45
  expectations and you lose the person and
• 27:48
  I think this is what to your point um
• 27:51
  when companies
• 27:53
  maybe don't emphasize enough on service
• 27:57
  when they put themselves under a huge
• 27:59
  vulnerability because for for the
• 28:01
  customer um and a service that is
• 28:06
  underwhelming doesn't mean that it's a
• 28:08
  bad service so to speak it's just on the
• 28:11
  level and for example I I just you know
• 28:13
  I just came back two days ago from a
• 28:16
  long flight from from Cape Town so I was
• 28:19
  24 hours in the air one one very very
• 28:22
  long flight almost 17 hours and um for
• 28:25
  example I was in in business class or on
• 28:28
  one of the three largest American
• 28:31
  Airlines and the the uh I would describe
• 28:36
  the service as okay so everything was
• 28:40
  more or less as expected they were
• 28:42
  friendly they were smiling um there was
• 28:46
  food you know if I wanted to to get a
• 28:49
  drink then they they served me a drink
• 28:51
  so fundamentally I don't have anything
• 28:54
  to complain yeah I was not beaten up so
• 28:57
  to speak there was no one was rude so I
• 28:59
  have nothing to
• 29:01
  complain but nothing was luxury nothing
• 29:04
  was personalized nothing was where I
• 29:07
  felt an emotion towards me and I
• 29:10
  remember for example walking in the you
• 29:12
  know on the aisle towards my seat and
• 29:14
  then sitting down in my seat I took my
• 29:17
  jacket off and then there was a flight
• 29:19
  attendant uh you know a little bit
• 29:21
  further away and I kind of waved and
• 29:23
  said okay you know um can you take care
• 29:25
  of my my jacket and then the flight ATT
• 29:28
  and said oh I can do this after the
• 29:29
  boarding process is
• 29:31
  over and you know this was for me like
• 29:34
  one of those moments where they were
• 29:36
  friendly they were not not unfriendly
• 29:38
  but in this moment it was you know when
• 29:41
  you just want to get settled you want to
• 29:42
  maybe get changed get get rid of the
• 29:45
  jacket I felt like I'm not important I
• 29:48
  have to wait now until everything is
• 29:50
  over and I think this is also what where
• 29:53
  where maybe to build on what you were
• 29:54
  saying what in my observation happens
• 29:57
  very often in so many so-called luxury
• 30:01
  experiences that it's kind of all about
• 30:04
  the the um how should I say maybe the uh
• 30:07
  the process that a company puts in place
• 30:10
  so in this case the airline is a process
• 30:12
  that okay let's have first people
• 30:14
  boarding and then we take the jackets
• 30:16
  and then we serve the drinks but then
• 30:19
  you don't get an personalized experience
• 30:21
  because maybe for 60% of The Travelers
• 30:24
  or 80% of The Travelers this may be okay
• 30:27
  but maybe for two or three or four or 10
• 30:29
  other Travelers that are in the same in
• 30:32
  the same area this is not okay and in
• 30:34
  normal experiences we we are okay with
• 30:37
  averages but in luxury I always feel we
• 30:40
  it's always about us I I totally agree
• 30:43
  with you and where these Airlines will
• 30:46
  uh will fail is that other airlines are
• 30:50
  moving uh quite rapidly and improving
• 30:54
  their service so I would I would suggest
• 30:57
  to these people from this Airlines if
• 30:59
  you can talk to them go to Asia and and
• 31:03
  and see the quality of service that you
• 31:05
  can you can have in business class in
• 31:07
  Asian company because even on very short
• 31:10
  flight you have a a full warm meal very
• 31:15
  U um very nice they're taking care of
• 31:17
  you immediately when you board in a
• 31:19
  plane uh so competition also is very
• 31:23
  good and um and unfortunately uh when
• 31:26
  clients are experien
• 31:28
  that's why you you said earlier that
• 31:30
  loyalty is very difficult because when
• 31:33
  you find a new uh when you experience a
• 31:36
  new quality of service but then you go
• 31:38
  to this you move to this quality of
• 31:40
  service and you don't want to come back
• 31:42
  to
• 31:43
  a lower quality uh it's it's I can tell
• 31:46
  you at so I as I told you I join a a
• 31:50
  high a new high jury company called
• 31:51
  Marco Valente based in Milan and then
• 31:54
  and we we we are very successful at the
• 31:57
  moment because we bring something new on
• 31:59
  the market of High jewelry because for
• 32:02
  for multibrand retailers a lot of high
• 32:04
  jeury brand they left this uh commercial
• 32:07
  Network to open their own Boutique uh
• 32:10
  and so um now we are we are bringing
• 32:13
  this this brand this hyy brand to the
• 32:16
  retailers and we are able also because
• 32:19
  we have a we have this mindset to be
• 32:22
  very flexible what the the final Clans
• 32:24
  side because we are talking about hyy
• 32:26
  we're not talking about ENT price or or
• 32:30
  low volume Bey but High jewelry so the
• 32:35
  art of our Market is between 20 and and
• 32:39
  500,000
• 32:41
  dollars for for a piece of of highy and
• 32:45
  two weeks ago I can tell you had the
• 32:46
  experience in I was in in Qatar in in
• 32:49
  DOA and a client wanted a the same ring
• 32:53
  that we had but with a a three karat
• 32:56
  diamond iner of 2.5 and in in 48 hours
• 32:59
  we're able to show us the rendering the
• 33:02
  size with the stone the all the new
• 33:04
  rendering of the of the of the ring and
• 33:07
  she was she was overwhelmed because
• 33:10
  normally in the Big Brand it takes time
• 33:12
  yes madame we will send you an email etc
• 33:14
  etc and and for us we think that if you
• 33:17
  want to to be at that level of hydy of
• 33:20
  of quality of selling diamonds you know
• 33:23
  um it's it's very important and U also
• 33:26
  that we see that all a lot of new
• 33:28
  generation the Millennials the
• 33:30
  Millennials are by the way up to 45
• 33:32
  years old now and the Generation Z and
• 33:35
  when they they want to buy diamonds they
• 33:37
  don't have a lot of knowledge but they
• 33:39
  want to have they want to have full
• 33:41
  transparency they want to have full
• 33:42
  tracability now and they can have it
• 33:45
  with all the the social media tools and
• 33:48
  so that's why we provide a Gia
• 33:50
  certificate for every stone below 0.4
• 33:54
  and we deliver only the best quality of
• 33:56
  diamond meaning only the the color
• 34:00
  DF with um with the the the the best
• 34:05
  proportion and and and and polishing so
• 34:08
  um we really want to to to go uh where
• 34:12
  all the big brands are too big now uh
• 34:15
  too big to give this uh high quality of
• 34:18
  service for for final clients all over
• 34:21
  the
• 34:22
  world and here again I think with the
• 34:24
  example that you showed is
• 34:28
  it's re it's it's also in the product of
• 34:31
  course but again it's the service it's
• 34:33
  you know the speed it's about the
• 34:35
  convenience it's about the
• 34:37
  personalization it's about you know to
• 34:39
  kind of make a step towards the client
• 34:41
  and not force the client in into that
• 34:45
  and uh it's fascinating because if you
• 34:48
  look into where
• 34:50
  brands also invest very often they often
• 34:54
  invest let's say in if you take the
• 34:56
  total p&l of aand of course there's a
• 34:58
  lot of marketing but then there's Al
• 35:00
  Also let's say the real estate you know
• 35:02
  the the in we spoke about Hospitality
• 35:04
  you know how a how a hotel looks like
• 35:06
  the airplane Interiors or maybe in the
• 35:10
  case of of your business in High jewelry
• 35:13
  it's a store the storefront and so on
• 35:15
  how that everything looks good and often
• 35:17
  there is Investments like millions and
• 35:19
  millions of
• 35:21
  dollars and all of this you know can can
• 35:24
  be nothing in the end if the if the
• 35:27
  service component is not there if the
• 35:29
  emotional key is not unlocked then you
• 35:32
  know all the Investments there basically
• 35:35
  are evaporating so it's so important to
• 35:39
  to um you know I would say
• 35:42
  strategize as a company about you know
• 35:44
  how do you how can you deliver this
• 35:47
  exceptional service but then also enable
• 35:49
  the the staff the staff on that exactly
• 35:52
  I totally agree with you you know when
• 35:54
  uh the luxury business completely
• 35:57
  explode in the last 30 years in 1991
• 36:00
  when I did my MBA there was no luxury
• 36:03
  good company listed at any Stock
• 36:05
  Exchange in the world now lvmh is the
• 36:08
  biggest value but they lost it recently
• 36:10
  for in front of a pharmaceutical company
• 36:12
  but in Europe is the the biggest value
• 36:15
  at least in France is the biggest value
• 36:17
  Hermes is Number Two by the way and
• 36:18
  L'Oreal which is now considered as the
• 36:21
  luxury value by the financial guys
• 36:23
  because more than 50% of his turnover is
• 36:25
  done with luxury perfume uh those three
• 36:28
  companies are are number number three of
• 36:30
  the stock exchange in front this is this
• 36:32
  is unbelievable and um uh so throughout
• 36:35
  those years there there were many years
• 36:37
  where the business was booming you know
• 36:39
  people were queuing queuing for to buy a
• 36:42
  luxury goods so um you you didn't have
• 36:45
  to sell and and and when crisis happened
• 36:50
  that's where you see people were able to
• 36:52
  sell or just wear Distributors and um
• 36:57
  and to sell is a different mindset you
• 36:59
  have to to to be a hunter in a in a good
• 37:02
  way of course um but you have to know
• 37:05
  and and uh and people and clients are
• 37:08
  are willingness to they they sorry
• 37:11
  they're ready to to
• 37:12
  spend a certain budget if they are very
• 37:15
  interested and they if their emotional
• 37:17
  key is a is a is a trigger and um and
• 37:23
  for because for some clients those
• 37:25
  clients the crisis is not the same that
• 37:27
  for for middle class people so and um so
• 37:32
  when you have very very good set people
• 37:34
  first of all first of all you have to
• 37:37
  identify them you have to keep them and
• 37:39
  you have to motivate them and I think
• 37:41
  one of the the best motivation of course
• 37:44
  is a is a is a visibility a vision of
• 37:48
  how you can progress within a company
• 37:50
  because you're not going to do the same
• 37:52
  job of your life or it depends if they
• 37:54
  want to stay on the floor and to be to
• 37:56
  have this relationship with the clients
• 37:58
  you have certain people they're very
• 37:59
  good at that and they just want to be uh
• 38:02
  just want to to to to to stay at that
• 38:04
  level of rship with the clients but you
• 38:07
  have to be um you have to be ready to
• 38:09
  give them a very good package because
• 38:11
  those people will bring you the turnover
• 38:14
  of your company and I always say to a
• 38:17
  lot of board people and and top
• 38:20
  management people those people should be
• 38:23
  the most rewarded because they can they
• 38:26
  can change your turnover
• 38:28
  and so it should be and and it's a
• 38:30
  variable cost you just have to have a
• 38:32
  percentage of your of your of your of
• 38:36
  your turnover based on the on the the
• 38:38
  bonuses of of those people and you can
• 38:40
  give them just the sky as the limit so
• 38:43
  it's very important to have in for me in
• 38:45
  a team I I put the a scheme very often
• 38:48
  in team called 1 plus one equal three
• 38:51
  one is an individual Target the other
• 38:53
  one is a b is a team Target uh so a team
• 38:56
  bonus and if if you you fulfill the two
• 38:58
  then your bonus should be three not two
• 39:01
  um and you need you need an individual
• 39:03
  Target because like in every Fantastic
• 39:05
  Team you have uh you have Fant fantastic
• 39:08
  players and you just have a few in in in
• 39:11
  soccer in in Europe you had one Zin Zan
• 39:15
  you didn't have 11 in a team uh in
• 39:18
  basketball you have one LeBron James you
• 39:20
  don't have five in a team so uh this guy
• 39:23
  the the star of the team should have a
• 39:25
  fantastic reward because he you bring
• 39:27
  the whole team to another level also so
• 39:30
  it's very important to reward in a team
• 39:32
  the best the best players of the team
• 39:35
  and to have a but but the best players
• 39:37
  of the team also should should carry the
• 39:40
  team at L that's why you should have
• 39:43
  individual Target and and team Target
• 39:46
  and if both are fulfilled then the bonus
• 39:48
  should be three and not two and this is
• 39:50
  very important to to to for for these
• 39:53
  people to to receive very well package
• 39:55
  because for a lot of people you know if
• 39:57
  you say h what do you do but I'm a sales
• 39:59
  consultant in in a store it's not very
• 40:02
  socially so especially in Europe it's
• 40:05
  not very not very positive but it should
• 40:07
  be the opposite in the luxury Brands
• 40:09
  those people are key people in the
• 40:11
  business model of of of a luxury brand
• 40:15
  yeah I remember conversation with a good
• 40:18
  friend of mine who runs a very
• 40:20
  successful Hospitality uh company and he
• 40:23
  always tells me that in his point of
• 40:25
  view you almost have to
• 40:27
  reverse the O chart of a company and say
• 40:31
  the sales people are on top and everyone
• 40:34
  else is below and he always says I as
• 40:37
  the CEO I'm on the Rock Bottom so to
• 40:39
  speak because I don't have really the
• 40:41
  customer contact every day but the sales
• 40:44
  people have and then also enabling them
• 40:46
  empowering them because a lot of
• 40:48
  companies speak about empowerment and
• 40:50
  enabling but then on the day
• 40:53
  today is actually not the case and you
• 40:56
  know the example that you that you sh
• 40:58
  shared before where um you know you you
• 41:01
  had the client and you were able to find
• 41:04
  the emotional key and then you took a
• 41:06
  decision to invite the person for a
• 41:09
  family trip to um you know to to a theme
• 41:11
  park um if let's let's assume and I
• 41:15
  think in that role you were already say
• 41:17
  leading leading the team or you know the
• 41:20
  the the the managing director for the
• 41:21
  region um so naturally you had more
• 41:24
  decision power but let's assume now um
• 41:27
  you have someone in the store um and
• 41:30
  this person now finds an emotional
• 41:33
  trigger and let's say during a
• 41:35
  conversation and feels this customer
• 41:38
  could be the million dooll customer and
• 41:41
  then in this case because now they have
• 41:44
  an interaction now this person on the
• 41:46
  store floor takes the decision and
• 41:50
  invites the person to the theme park and
• 41:53
  now goes to the boss and says you know I
• 41:55
  have this post the person just walked in
• 41:57
  you know in jeans and a plastic watch
• 41:59
  what you describe and I think that this
• 42:02
  person could be a important Prospect so
• 42:04
  I invited him uh with his family to a
• 42:07
  theme park if you now have in the if I
• 42:10
  take now this example and you now have
• 42:12
  in the
• 42:13
  organization um a
• 42:15
  superior that that basically criticizes
• 42:19
  this decision and said you know couldn't
• 42:22
  didn't why didn't you speak with me
• 42:23
  before or you know are you really sure
• 42:26
  uh and you know this this is a cost is
• 42:28
  seen as a cost then I can almost
• 42:31
  guarantee that in this particular
• 42:33
  Organization no one ever in the future
• 42:36
  is going to take the word empowerment
• 42:39
  serious and I think this is also
• 42:41
  something that as an organization um
• 42:44
  organizations has to have to work on is
• 42:47
  it's so easy to say we Empower our
• 42:49
  salespeople it's so easy to say you know
• 42:51
  our salespeople they have card launch
• 42:53
  they should do and so on because if then
• 42:57
  as an organization the foundation is not
• 42:59
  there or there is just one bad apple
• 43:02
  somewhere that says you should not have
• 43:03
  done this then it becomes immediately
• 43:06
  like a myth within the organization and
• 43:08
  people will say okay you know what if
• 43:10
  they tell you you're empowered forget
• 43:12
  because there was this example that
• 43:14
  happened 5 years ago and this person was
• 43:16
  reprimanded you know think twice before
• 43:19
  you do something so this is I think
• 43:20
  something that where um the role of the
• 43:24
  leadership within an organization is so
• 43:26
  critical and I I see this often in
• 43:29
  service related um Industries like
• 43:31
  Hospitality if you take like a single
• 43:33
  Hotel the in my experience the quality
• 43:37
  of service lives and dies with the
• 43:39
  general manager not that the general
• 43:42
  manager is going to be the person that
• 43:43
  the guest will see all the time but if
• 43:45
  the general manager is
• 43:47
  truly um how do I say is truly caring
• 43:50
  about the customer the customer
• 43:52
  experience the client experience the
• 43:55
  client experience will be great and if
• 43:56
  the C the the general manager let's say
• 43:58
  doesn't care at all or is not basically
• 44:01
  all over it then the client experience
• 44:04
  will will fall aart
• 44:06
  immediately but I I totally agree with
• 44:08
  you is the is the big issue with a very
• 44:12
  top down
• 44:14
  management uh which is
• 44:17
  a which I see a lot of time in many
• 44:20
  which I saw a lot of time in in many
• 44:23
  organization especially in luxury people
• 44:25
  think that at ahead ofice they
• 44:27
  understood everything about everything
• 44:28
  so but the the the key is the
• 44:31
  relationship with the client on the
• 44:33
  market in where you are at 5,000
• 44:37
  kilometer when you are from the head
• 44:39
  office you don't understand the
• 44:40
  relationship with your client it's a
• 44:41
  different culture different client you
• 44:44
  don't know why your client is in the
• 44:45
  boutique you don't understand and um
• 44:49
  it's it's it's a it's a key point that
• 44:51
  you say especially in the hospitality
• 44:54
  industry it shouldn't be a culture
• 44:57
  coming from one manager but should be
• 44:59
  the culture of the whole brand the whole
• 45:03
  hotel by itself and uh and every day by
• 45:06
  the way as a manager and and I did some
• 45:09
  mistakes also in my career so I learn a
• 45:11
  lot um now I ask a lot to the people who
• 45:15
  are in contact with the client what can
• 45:18
  I do to help you what uh and and okay if
• 45:21
  you have ideas what are your ideas shoot
• 45:25
  there is no no no stupid ideas because
• 45:27
  you you will be responsible for the
• 45:30
  ideas and you will manage to contact
• 45:31
  with the client so if you have a lot of
• 45:33
  experience and you telling me that this
• 45:35
  work this work but let's do it and then
• 45:37
  we'll see the result it's not a question
• 45:40
  of yes I think it's good or it's not
• 45:42
  good you have to respect every ideas
• 45:44
  every
• 45:45
  culture um and I I will give you a
• 45:49
  fantastic story because I always try to
• 45:52
  illustrate you know principle by stories
• 45:56
  I remember very famous jewelry brand in
• 45:58
  Tokyo they hired a new new sales guy and
• 46:02
  you know they say okay the selling
• 46:05
  process in our brand is this this this
• 46:07
  you have to do step one step two step
• 46:09
  three step four step five and if you do
• 46:12
  that it's good and the guy say okay he
• 46:15
  went to the training I said okay and
• 46:16
  then three weeks after the guy sold the
• 46:20
  most expensive necklace of the boutique
• 46:23
  that they never sold for six years six
• 46:26
  years they were were trying to in three
• 46:28
  weeks he sold it so everybody was
• 46:32
  astonished and and I remember it it was
• 46:35
  a colleague of mine who was in charge of
• 46:37
  a Japan market and he said look I have
• 46:39
  to tell you the story because it's a
• 46:40
  fantastic it's a fantastic lesson and he
• 46:43
  went to the guy and say okay what what
• 46:45
  did you do to to sell this necklace okay
• 46:48
  what uh what part of the process of
• 46:50
  selling which Step was the best in your
• 46:53
  and the guy say well no no no no I
• 46:54
  didn't respect at all the process of
• 46:56
  selling that you you taught me and so
• 46:59
  but how did you do but I say if I have
• 47:01
  if I want to have a chance to increase
• 47:04
  really my bonus I have to sell this
• 47:05
  necklace and if I have to sell this
• 47:07
  necklace I have to propose it to
• 47:10
  everybody everybody who will enter the
• 47:13
  boutique and act actually the all the
• 47:17
  team who was respecting the old
• 47:18
  procenter was doing the opposite because
• 47:20
  it was the most expensive one they
• 47:22
  thought that 99% of the people entering
• 47:25
  the boutique had no power purchase to
• 47:27
  buy the necklace but for him he was no
• 47:30
  no he was new in the company new in that
• 47:33
  business field he say yeah I have
• 47:35
  nothing to lose so every time every
• 47:38
  request from a client he say oh by the
• 47:41
  way I show
• 47:43
  you the this necklace which is the
• 47:46
  Exquisite resume of the Kno how and the
• 47:49
  culture of our brand and blah blah blah
• 47:50
  blah and then one guy in the three weeks
• 47:53
  I I thought he propos it to to 500
• 47:56
  people
• 47:57
  and one guy say ah fantastic I buy
• 48:00
  it and it's a great lesson listen to uh
• 48:04
  to your salese because everybody also
• 48:08
  has a different style maybe you want to
• 48:10
  have in place a selling process and of
• 48:12
  course you know you you have to have the
• 48:15
  discovery phase you know you need to
• 48:17
  know your client you need but you have
• 48:18
  to be open-minded to new ideas and and
• 48:22
  why not and uh and this is this is a
• 48:24
  fantastic story yeah and I think here
• 48:27
  it's also great story where again the
• 48:30
  emotional key comes comes out because if
• 48:33
  you for example I had recently a
• 48:36
  discussion during a training that I did
• 48:39
  um on on you know how to sell luxury and
• 48:43
  with within that organization or within
• 48:45
  that you know that framework where where
• 48:47
  this operation organization um operated
• 48:50
  so they had they were basically also in
• 48:51
  multibrand stores and in these
• 48:53
  multibrand stores there were different
• 48:56
  level of prices so they had in typically
• 48:58
  in in this kind of environment there
• 49:00
  would be even some some items or some
• 49:02
  brands that would not be considered
• 49:04
  luxury so let's say entry level items
• 49:07
  and you had mid-level items and then you
• 49:08
  had one or two brands at the extreme if
• 49:12
  you take price points so what was the
• 49:15
  the typical way how a salesperson would
• 49:18
  approach that because now the
• 49:19
  salesperson wants to gets all the
• 49:21
  traffic in the store and they somehow
• 49:25
  maybe also with sometimes not the right
• 49:26
  incentives basically was saying okay I
• 49:28
  make now a quick sale so what did they
• 49:31
  do people W walked in the store and then
• 49:33
  they asked them what is your budget I
• 49:36
  was like to say this is the this is the
• 49:38
  killer question of all questions because
• 49:40
  I was it's it's the Excel sheet question
• 49:43
  so to speak because when someone says
• 49:45
  what is your budget you immediately go
• 49:48
  from emotion to rational and then the
• 49:50
  other thing you you do is you put a
• 49:53
  number in your head and if you put a
• 49:55
  number in your head this number is now
• 49:58
  your Baseline every every decision you
• 50:00
  will do afterwards internally you would
• 50:03
  will compare with with the number so if
• 50:05
  you walk in the store and you know let's
• 50:07
  say I want to to buy a watch and the the
• 50:09
  person ask me you know how much do you
• 50:12
  want to spend on a watch today say like
• 50:14
  say
• 50:16
  $3,000 then good luck selling me a
• 50:19
  $30,000 watch if basically I primed
• 50:21
  myself now into into that category but I
• 50:24
  think in in the moment when someone you
• 50:26
  know when someone um as you just said
• 50:30
  comes in and there is you know he shows
• 50:34
  him the necklace and then shows another
• 50:36
  person and look this is the brand for
• 50:38
  some person suddenly it will trigger an
• 50:42
  emotion and a desirability to to buy um
• 50:45
  I love the example I think it's so
• 50:47
  powerful to see that that um you know
• 50:50
  when we I think it's also shows mindset
• 50:52
  if we basically convince
• 50:54
  ourself that a specific Pro product is
• 50:57
  only for a specific client de we already
• 51:01
  approach the world almost with a
• 51:02
  negativity and always think you
• 51:05
  know if if we say it's for the top 1%
• 51:07
  then we always say okay the likelihood
• 51:10
  that the next person comes in and wants
• 51:11
  that is zero so we don't even make an
• 51:14
  effort while if we program ourself to
• 51:16
  say to say you know let's Inspire let's
• 51:19
  let's Inspire let's Inspire then then we
• 51:22
  get to a different
• 51:23
  result yeah to totally right I can give
• 51:25
  you another example happened not so long
• 51:27
  ago in a in a fine jeury store it's one
• 51:30
  of our client and um we receive a very
• 51:33
  nice order from this store and we were
• 51:35
  very amazed so we asked the retailer can
• 51:37
  you tell us a little bit about the story
• 51:38
  say yeah a very funny story because a
• 51:40
  gentleman came and we had a good
• 51:42
  relationship a good exchange we show him
• 51:44
  a very nice bracelet we understood it
• 51:47
  was for his daughter so um for birday so
• 51:51
  there was uh we didn't talk about budget
• 51:54
  Etc they said they show different breast
• 51:56
  and the guy chose has chosen one of our
• 51:59
  bracelets or the the say Ambassador was
• 52:02
  was very happy he say okay can I uh this
• 52:06
  bracelet can I um can I prepare a gift
• 52:08
  Box Etc and and the client say yes but I
• 52:12
  want two more so the says Ambassador was
• 52:15
  a was a little bit surprised he say yeah
• 52:17
  I want I want I want three three of the
• 52:20
  same bracelet I told you it was for my
• 52:23
  daughters and he didn't understand the s
• 52:27
  of daughters he just un understood
• 52:30
  daughter and and actually it was a gift
• 52:33
  for one for each of his daughter so the
• 52:37
  the sell was three bracelet instead of
• 52:40
  one and when you have a bracelet of
• 52:42
  $100,000 so it's it's a nice it's a nice
• 52:45
  sellout and actually another also
• 52:49
  example of what you mentioned is when
• 52:52
  you have multibrand of stores or
• 52:54
  multibrand store when you have different
• 52:56
  level
• 52:56
  you have to go to ground floor first
• 52:58
  floor second floor a lot of
• 53:01
  time uh retailers they put their the big
• 53:04
  brands on the ground floor and then they
• 53:06
  put on first floor and second floor what
• 53:08
  what
• 53:09
  they what is not really a top priority
• 53:12
  and and of course 99% of the time the
• 53:16
  sells Ambassador on the GL FL they will
• 53:18
  never never put some efforts to bring
• 53:21
  the kind to the first floor or your
• 53:23
  second floor and for me it's a big
• 53:25
  mistake because you are renting a space
• 53:28
  with with three floors and basically you
• 53:31
  base your business on one floor and you
• 53:33
  could have a fantastic business if you
• 53:35
  if you're are spreading your top brands
• 53:37
  on three floors especially the top one
• 53:39
  you could put it on the third floor
• 53:41
  people will go um and um you know that
• 53:45
  in the supermarket business if you put
• 53:48
  water at the end of your Supermarket
• 53:50
  people will cross the whole supermarket
• 53:51
  to buy the water so the same in the
• 53:53
  luxury if you put top brands on the
• 53:55
  third floor people will go and then you
• 53:57
  would give them a chance to see also the
• 53:59
  other brands and the rest of of of of
• 54:03
  your business because otherwise you just
• 54:05
  do distribution of big brands on the
• 54:06
  ground floor and then the rest it's a
• 54:08
  it's a it's a big loss for for your pnl
• 54:11
  It's a Wonderful example and you know um
• 54:13
  Luke reminds me just of something that
• 54:15
  happened to me um a few weeks ago so I
• 54:18
  was in Hong Kong and the trolley that I
• 54:20
  had um broke uh and uh you know it was a
• 54:24
  bit of a sad story so to speak because
• 54:26
  it was a trolley that I was really in
• 54:29
  love with Al beautiful luxury trolley
• 54:31
  but uh probably after six seven years of
• 54:34
  heavy use in thousands of flights uh
• 54:37
  there was the time to say goodbye and
• 54:39
  then um I went in this case to a Louis
• 54:42
  vittor store and I was I thought to buy
• 54:46
  um you know I don't even want to call it
• 54:48
  the basic but you know their beautiful
• 54:50
  canvas canvas um uh Horizon trolley and
• 54:55
  um I was just going to the store to see
• 54:59
  which which color combination uh should
• 55:01
  I get and then while I was in the store
• 55:04
  and they were about to hot stamp my
• 55:07
  initials in the um you know in in the
• 55:09
  name tag and said okay just browse
• 55:12
  around a little bit and then I was
• 55:14
  walking around and then I see I said
• 55:17
  wait a minute and then I saw the same um
• 55:19
  the same trolley but in a limited
• 55:22
  edition first collection of um of feral
• 55:25
  and it was just gorgeous Beyond
• 55:28
  imagination and so I run back and said
• 55:30
  stop the hot hot stamping process and it
• 55:32
  was just like last second I said okay we
• 55:35
  cancel this I get the the other one and
• 55:37
  of course you can imagine the other one
• 55:39
  was significantly more expensive but in
• 55:42
  this moment my emotional trigger was uh
• 55:46
  was activated so to speak and where
• 55:48
  before I I thought it was more like a
• 55:51
  bit of a more rational I don't want to
• 55:53
  say rational purchase but it was like I
• 55:54
  needed a trolley and so thought more a
• 55:56
  little bit more practical but the moment
• 55:59
  I saw the other one and I thought this
• 56:01
  is what I really what I really want and
• 56:03
  then I don't want to say the price
• 56:05
  doesn't play a role anymore but but um
• 56:08
  in this case it's much more the
• 56:10
  desirability of and maybe the I would
• 56:13
  say even the the Artistry of this and
• 56:16
  then you also understand that um you
• 56:18
  know it's the first collection so there
• 56:20
  will never be another first collection
• 56:22
  then you also start to understand that
• 56:24
  there is it's extremely Limited and you
• 56:26
  also know if I don't and in the store
• 56:29
  they told me that they only had one that
• 56:31
  they got for um you know for Hong Kong
• 56:34
  and then I I thought okay then maybe
• 56:36
  there are one or two in mainland China
• 56:38
  and then maybe another few in the US so
• 56:40
  I also understood that if I don't make
• 56:42
  this purchase now even maybe wait
• 56:45
  another day um or another hour then
• 56:48
  probably it's gone forever and so
• 56:50
  suddenly the it goes back to also what
• 56:52
  you said before the exclusivity um and
• 56:55
  that it's basically also a marking um an
• 56:57
  interesting moment of time and then also
• 56:59
  I was on on this trip to Hong Kong and
• 57:01
  then also thought okay it will always be
• 57:03
  a memory to buy it exactly in the store
• 57:05
  so there were so many kind of stories
• 57:06
  that were overlapping and suddenly my
• 57:08
  willingness to pay from a price point
• 57:11
  basically doubled in in that moment and
• 57:13
  I think this is again a great lesson on
• 57:16
  you know that the Valu is often
• 57:18
  somewhere completely different and um
• 57:20
  also often unexpected from from you know
• 57:23
  a customer perspective and there we
• 57:25
  bring again the idea of surprise and and
• 57:28
  yeah emotionally inspiring people
• 57:31
  exactly it's what we say it's it's
• 57:33
  purely emotional it's not rational at
• 57:34
  all because you pay maybe four or five
• 57:36
  times the price of the first story but
• 57:38
  now you emotion you're at your your
• 57:41
  emotion level is is at the top and you
• 57:42
  will remember that and this is and this
• 57:44
  is what luxury should be about is to to
• 57:47
  have you know this special moment in
• 57:49
  life that you find something is which is
• 57:52
  just for you you you're falling in love
• 57:54
  for for different kind of reason and and
• 57:58
  um and this is this is this is fantastic
• 58:01
  and and and you found it because you
• 58:04
  move it to yourself in the boutiques
• 58:06
  they didn't didn't propose you so it's
• 58:09
  always also something that I I like to
• 58:11
  do when I drive on holiday I like to
• 58:14
  take small roads in St in instead of
• 58:17
  motorways because I love of course I'm
• 58:19
  French so I love my Gastronomy so I love
• 58:23
  to to discover you know a new restaurant
• 58:26
  I do a a step even with my kids my kids
• 58:28
  are very young but they love to to eat
• 58:30
  oysters for they love to discover the
• 58:34
  the real food with quality and I have
• 58:37
  numerous example on going on a small
• 58:39
  road stopping you know not knowing very
• 58:42
  well the restaurant just see one or two
• 58:44
  review and and getting an an amazing
• 58:49
  surprise in dordon for example the the
• 58:52
  country of black truffle in in France uh
• 58:57
  we stopped with my my
• 58:58
  wife on on the road and you jump of the
• 59:02
  car it was the end of the service but
• 59:03
  they accept to serveice and and we had a
• 59:06
  fantastic uh four course meal in the one
• 59:10
  star michelan restaurant for below 100
• 59:13
  euro per person with a glass of wine for
• 59:15
  each meal so we had to we had to be
• 59:17
  careful on on on on on the driving after
• 59:20
  but uh um it was it was a fantastic
• 59:24
  experience and then and then on top
• 59:26
  which was even it it also trigger my
• 59:30
  emotion because I I discover fantastic
• 59:33
  white wine and I asked the the
• 59:35
  restorator you know oh I love this one
• 59:38
  it's fantastic I didn't know can I can I
• 59:41
  buy you battle I would be you know I
• 59:45
  would be very very pleased and honored
• 59:47
  he say yeah with no problem so I said
• 59:49
  you know when the bill arrive I said
• 59:51
  okay I'm going to charge me it's normal
• 59:53
  you know but it's it was okay you know
• 59:55
  it was early day I had a very nice
• 59:57
  moment with my wife and I discovered
• 59:59
  this one which was fantastic and it just
• 1:00:01
  charged me the cost price of the rest I
• 1:00:04
  was completely shocked he came to me say
• 1:00:06
  sorry I wanted to give you uh three
• 1:00:09
  bottles but I have only two left so in
• 1:00:11
  my cell I give you one and and he did
• 1:00:15
  charge me just the cost of the butter
• 1:00:16
  for the restaurant so sorry so now my
• 1:00:20
  emotion with this restaurant and this
• 1:00:22
  region is is trigger for forever and and
• 1:00:25
  this is what we are looking about in
• 1:00:28
  life is to have emotions so you have
• 1:00:30
  emotions with family moments with
• 1:00:33
  culture Cinema
• 1:00:36
  singing uh Museum arts and luxury should
• 1:00:41
  uh should look for this emotional key
• 1:00:44
  also for for their their clients and
• 1:00:46
  they are they have a lot of lot of
• 1:00:50
  opportunities and I think it's fantastic
• 1:00:52
  for you as a as a consultant to help
• 1:00:55
  them because I can tell you you have a
• 1:00:58
  you have a open field to have a lot of
• 1:01:00
  lot of companies because they can they
• 1:01:02
  can improve much much more to to to get
• 1:01:06
  connected with this uh uh with their
• 1:01:09
  clients on their on their emotional
• 1:01:11
  level and at every moment of the process
• 1:01:15
  of before welcoming them welcoming them
• 1:01:19
  during the the transaction after the
• 1:01:21
  transaction because of course you want
• 1:01:23
  to have loyal clients and to want to
• 1:01:26
  want you hook them you want them to come
• 1:01:27
  back so how to make uh how to to make
• 1:01:31
  them coming back but it's to to
• 1:01:33
  entertain the conversation like with a
• 1:01:35
  friend or or a family you you have a
• 1:01:37
  house you have to invite them you have
• 1:01:39
  to take care about them and not only you
• 1:01:42
  know ah you didn't you did purchase this
• 1:01:44
  last year but you didn't purchase that
• 1:01:46
  so your level of uh VIP is going down
• 1:01:49
  and uh um this is what happened to one
• 1:01:53
  of my friend two months ago he didn't
• 1:01:56
  buy a watch for for three years so so
• 1:01:59
  now he's not considering anymore as as a
• 1:02:02
  VIP as a and and in the past he was he
• 1:02:05
  was buying a lot of fores to to to a
• 1:02:09
  very nice brand and um and this is a
• 1:02:11
  this is a Pity because in a lot of
• 1:02:13
  companies CRM is managed Now by Excel
• 1:02:16
  sheet and by corts you know so they want
• 1:02:20
  to give priority only on the people who
• 1:02:22
  bought the year before six months before
• 1:02:24
  the year before and two years before and
• 1:02:26
  you forgot about the history about your
• 1:02:29
  your clients and it's often uh the
• 1:02:31
  history about your clients is often uh
• 1:02:34
  known by your Sal Ambassador much more
• 1:02:36
  than your your
• 1:02:40
  database um uh tools linked to to AI or
• 1:02:45
  or
• 1:02:47
  Internet and I think you said something
• 1:02:49
  with with this example that is so
• 1:02:51
  critical is it's about the relationship
• 1:02:55
  and if I I think for example now if I
• 1:02:57
  take the the example of the of the
• 1:02:59
  trolley purchase you know why didn't I
• 1:03:02
  buy another trolley
• 1:03:04
  before it was not that I you know could
• 1:03:07
  not afford buying another trolley it's
• 1:03:09
  just I love the trolley that I had
• 1:03:11
  before so much that I you know there was
• 1:03:14
  no reason for me to exchange it there
• 1:03:16
  was so many memories that were connected
• 1:03:18
  with so many flights so many trips and
• 1:03:20
  so on so it would have been something
• 1:03:23
  that I um and maybe I would never have
• 1:03:25
  repl this trolley if the trolley would
• 1:03:27
  not have
• 1:03:28
  broken but for the company that was the
• 1:03:32
  you know manufacturer of my first
• 1:03:34
  trolly and they will never know it I was
• 1:03:37
  probably one of their best sales
• 1:03:38
  ambassadors because you can imagine
• 1:03:41
  almost any important meeting that I had
• 1:03:43
  because I often come from the airport
• 1:03:45
  into the meeting room I was rolling in
• 1:03:47
  with that trolley and people say wow
• 1:03:49
  this thing looks so cool and and so on
• 1:03:52
  so I probably sold for for um that other
• 1:03:56
  brand probably 30 40 50 trolleys so to
• 1:03:59
  speak without me being the person
• 1:04:01
  because I don't I don't need a second
• 1:04:03
  one um but I was always so you know it
• 1:04:07
  made me always proud when people said oh
• 1:04:09
  you know this is so cool and um and I
• 1:04:12
  think this is what also Brands
• 1:04:13
  underestimate when they what you as you
• 1:04:15
  just say when they look at the short
• 1:04:17
  term what is happening right now or you
• 1:04:20
  know you you mentioned your your
• 1:04:21
  examples in Air Force that you were not
• 1:04:24
  flying them very often and I think also
• 1:04:26
  probably because maybe just the
• 1:04:28
  geography where you were you were living
• 1:04:30
  so most likely this is the case and you
• 1:04:32
  know I have examples myself where you
• 1:04:34
  know when you know as you know I lived
• 1:04:36
  in in Japan for many years then I lived
• 1:04:38
  in Europe then in the US so of course
• 1:04:40
  you change preferences for example on
• 1:04:42
  the airline not because you don't like
• 1:04:44
  the airline but sometimes it's
• 1:04:46
  convenient you know or the airline is
• 1:04:47
  not flying to that often to the place
• 1:04:50
  where you live right now that doesn't
• 1:04:51
  mean that anything changed emotionally
• 1:04:54
  to that Airline you would probably be
• 1:04:55
  willing to reactivate immediately when
• 1:04:59
  it's convenient but if
• 1:05:01
  now you know after you gave let's take
• 1:05:04
  an airline example you gave maybe the
• 1:05:06
  airline for many many years loyalty so
• 1:05:08
  take your Air Force example now you
• 1:05:10
  don't fly with them and if you had come
• 1:05:13
  back and they had downgraded you and uh
• 1:05:18
  don't didn't take you any more serious
• 1:05:20
  so to speak as a client then you know
• 1:05:22
  maybe you would not have any motivation
• 1:05:24
  to come back but instead you know they
• 1:05:25
  write a nice handwritten note they say
• 1:05:27
  welcome back after all these years um
• 1:05:30
  they greet you again they bring take you
• 1:05:32
  back into the family now the Loyalty
• 1:05:34
  that you already had before is going to
• 1:05:37
  go significantly up while in most cases
• 1:05:41
  in in today's world the brand actually
• 1:05:44
  will do exactly the opposite will try to
• 1:05:46
  kind of you know downgrade you and then
• 1:05:48
  what happens emotionally because we as
• 1:05:50
  we spoke spoke about emotion if I'm VIP
• 1:05:53
  for 5 years and now the brand says you
• 1:05:56
  know Luke or Daniel you guys are not
• 1:05:58
  VIPs
• 1:06:00
  anymore how does it feel it's going to
• 1:06:02
  hurt our our emotions and then of course
• 1:06:05
  why would we be loyal to a brand that
• 1:06:08
  does this this is I think also the where
• 1:06:10
  in luxury and you know in Hospitality of
• 1:06:13
  course it's it's huge and it's not only
• 1:06:15
  in Hospitality you know Al many
• 1:06:17
  retailers of loyalty programs malls have
• 1:06:20
  loyalty programs where they uh you know
• 1:06:23
  give very special treatments to their
• 1:06:24
  top customers but opportunity and risk
• 1:06:27
  are so close here
• 1:06:30
  and I I would actually want to see one
• 1:06:33
  day a study to show how many top
• 1:06:35
  customers Brands actually lost because
• 1:06:38
  of ill-designed loyalty programs and um
• 1:06:43
  of of you know as you said loyalty
• 1:06:45
  programs maybe even managed in different
• 1:06:47
  departments uh you have the person who
• 1:06:49
  has the emotional connection um if if
• 1:06:52
  the brand has that to the top client but
• 1:06:55
  then you have a maybe a second
• 1:06:56
  Department that manages the Loyalty
• 1:06:58
  program and they are disconnected and
• 1:07:00
  then one doesn't know what the other is
• 1:07:01
  doing and then you create like complete
• 1:07:04
  chaos yeah I don't know if you know the
• 1:07:06
  story but uh um in Cartier the brand
• 1:07:10
  Cartier they have a VIP um sales
• 1:07:14
  Ambassador dedicated to the uh they call
• 1:07:18
  they are called grer so it means they're
• 1:07:21
  not attached to a boutique they follow
• 1:07:22
  their clients you know all over the
• 1:07:24
  world and one of the the best grander of
• 1:07:27
  CER even he was the best now I think he
• 1:07:29
  is retired um was a normal guy who was
• 1:07:34
  working originally after the at the
• 1:07:37
  after sales repair service in the back
• 1:07:40
  you know in the back of the
• 1:07:42
  boutique um of of kti um PL vome and uh
• 1:07:49
  long time ago and then once he receive a
• 1:07:52
  client who came I don't remember if it
• 1:07:54
  was for a pen or lighter you know it was
• 1:07:56
  not working and you know on the on on
• 1:07:59
  the on the on the noble floor with the
• 1:08:03
  sales people they say no you have to go
• 1:08:05
  it's so they didn't understand who was
• 1:08:08
  the client and she just had a repair to
• 1:08:10
  do and so she didn't want to buy
• 1:08:12
  anything so it was not interesting you
• 1:08:14
  know for the S people and so she sent
• 1:08:16
  her to to the back of the the the
• 1:08:19
  boutique really at the back and the guy
• 1:08:21
  the poor guy was doing the after sales
• 1:08:23
  service and and he gave an SE sex an
• 1:08:25
  exceptional service to the lady and then
• 1:08:28
  the lady came back the the the I don't
• 1:08:31
  know a little bit after for the same
• 1:08:33
  thing another after sale service you
• 1:08:35
  know I don't know and the service you
• 1:08:38
  reive from this guy was
• 1:08:40
  outstanding so uh then she came back in
• 1:08:43
  the boutique and time now to buy and she
• 1:08:46
  said no no but guys I want only to be
• 1:08:48
  served by this
• 1:08:50
  guy and she was I one of the top
• 1:08:53
  princess of Middle East I don't know if
• 1:08:54
  it was a of of Qatar or Kuwait I don't
• 1:08:57
  remember but she spent a fortune but
• 1:09:00
  this is the guy she wanted to be served
• 1:09:03
  and this guy became one of the grander
• 1:09:06
  of Cartier um because he gave
• 1:09:09
  exceptional service to a lady that
• 1:09:12
  normally she was not coming to she was
• 1:09:15
  not identify as a top buyer or whatever
• 1:09:18
  by by the people and this is a this is
• 1:09:22
  also a big mistake that a lot of people
• 1:09:24
  are are doing in sales organization a
• 1:09:27
  client is a client and you have to take
• 1:09:29
  care
• 1:09:30
  about about this client whatever they
• 1:09:34
  are coming from for information for
• 1:09:38
  maybe sometime just to use your bathroom
• 1:09:40
  you should be uh uh you should give the
• 1:09:44
  service you have to you have to you you
• 1:09:48
  have to give the level of service that a
• 1:09:51
  luxury brand should give that you you
• 1:09:54
  don't have to think that oh should I do
• 1:09:56
  it to you have to give the luxury
• 1:09:58
  service that the luxury brand should
• 1:09:59
  give otherwise you are to the you're
• 1:10:03
  going to the post office or Supermarket
• 1:10:05
  or whatever you will get the same so if
• 1:10:08
  you're not able to give the luxury
• 1:10:11
  Service uh you you are you will lose a
• 1:10:15
  lot of lot of
• 1:10:17
  clients this example also to me shows
• 1:10:20
  that you know empathy and even you know
• 1:10:24
  I use the word on purpose being humble
• 1:10:26
  as a brand and as a salesperson is so
• 1:10:29
  important and I I feel very often you
• 1:10:32
  know when I ordered experiences or when
• 1:10:34
  I go myself to a store or restaurant or
• 1:10:37
  hotel it's so often that I feel like the
• 1:10:40
  people on the other side so to speak
• 1:10:43
  that they you know sometimes are a bit
• 1:10:45
  arrogant because they believe now their
• 1:10:47
  brand is fantastic and so you almost
• 1:10:49
  come sometimes from a pedestral and then
• 1:10:52
  the client as a client you come in and
• 1:10:55
  and you feel or they try to almost make
• 1:10:58
  you feel inferior and I think this is
• 1:11:01
  also so critical what you said this
• 1:11:04
  approach and I think this gur example
• 1:11:07
  really shows how how powerful it is to
• 1:11:11
  be humble and to take the the human in
• 1:11:14
  in you know and to respect the human but
• 1:11:18
  also
• 1:11:19
  to to not have an agenda so to speak so
• 1:11:22
  if the agenda was okay it we only
• 1:11:25
  service this person if they sell if if
• 1:11:27
  they if they buy something then it's
• 1:11:29
  almost a bit like what we just discussed
• 1:11:31
  on the loyalty programs it feels not
• 1:11:33
  authentic it feels very transactional
• 1:11:35
  and luur we don't like transactions we
• 1:11:37
  like to be you know we like emotional
• 1:11:40
  things that these emotional things then
• 1:11:41
  lead to a transaction but um you know
• 1:11:44
  while in Mass Market transactions are
• 1:11:46
  normal because you know the the product
• 1:11:48
  doesn't give us a lot of emotion so it's
• 1:11:49
  all about efficiency and so on luxury
• 1:11:52
  it's about you know if the transaction
• 1:11:54
  comes automatic ically if the emotion is
• 1:11:56
  first so we have to basically look into
• 1:11:59
  into the emotional emotional triggers so
• 1:12:02
  but I wanted to to um to ask you maybe
• 1:12:05
  two two more two more things the first
• 1:12:08
  is now in your current role as you start
• 1:12:11
  as you took over the role um what do you
• 1:12:14
  see now also with your experience that
• 1:12:16
  you bring from all the other um
• 1:12:18
  assignments that you had in during your
• 1:12:20
  life what are for you now the kind of
• 1:12:23
  key priorities to
• 1:12:25
  take your brand from where it is today
• 1:12:28
  to maybe even a different level of
• 1:12:30
  luxury and luxury
• 1:12:32
  experiences so we have we have two key
• 1:12:35
  challenge challenges sorry the the the
• 1:12:37
  first key is to uh to really found find
• 1:12:41
  the retailers that understand our
• 1:12:43
  business model because now a lot of
• 1:12:45
  multibrand retailers they only sell uh
• 1:12:49
  they they're used to Brand wash to sell
• 1:12:50
  watch brand and they are only
• 1:12:52
  Distributors you know what depends of
• 1:12:55
  the popularity of the disability of one
• 1:12:57
  watch brand or another and then clients
• 1:13:00
  are coming and they say Okay I want the
• 1:13:01
  red or the the blue and no you have to
• 1:13:04
  wait you have to be on the waiting list
• 1:13:06
  etc etc and uh what we see
• 1:13:10
  that because all the high jury M left
• 1:13:13
  this this network now they have some
• 1:13:16
  jewelry but what they do they say okay
• 1:13:19
  my client is buying a 10,000 watch or
• 1:13:21
  $10,000 watch maybe I will present him a
• 1:13:24
  3,000
• 1:13:25
  jewelry because then he can can can buy
• 1:13:28
  immediately for his wife or his fiance
• 1:13:30
  you know as a as a as a as a
• 1:13:35
  gift not to be so guilty to buy 10
• 1:13:38
  $10,000 watch Etc instead of thinking if
• 1:13:42
  he has the purchase power to buy a
• 1:13:43
  $10,000 watch he has the purchase power
• 1:13:46
  to buy a $10,000 gift for his wife or
• 1:13:49
  his fien and uh and um and we see a lot
• 1:13:52
  of retailers who have sales team who are
• 1:13:55
  very that they don't want to make a
• 1:13:57
  little effort and but the opportunity of
• 1:14:00
  of business is is really there
• 1:14:02
  especially with the offer that we give
• 1:14:04
  with outstanding quality of diamonds and
• 1:14:06
  craftmanship from from Italy um and and
• 1:14:10
  so the Second Challenge is that we we
• 1:14:12
  need to support our growth we are we are
• 1:14:14
  very successful we have very good
• 1:14:16
  sellout figures with our our partners at
• 1:14:18
  the moment and to support our growth we
• 1:14:20
  we we decided to to invest and we bought
• 1:14:24
  the latest and the oldest manufacturer
• 1:14:27
  jewelry manufacturer in Milan based in
• 1:14:30
  Milan because in Italy most of the
• 1:14:32
  manufacturer are in valenza it's a an
• 1:14:34
  hour an hour 15 minute drive from from
• 1:14:38
  Milan um but we bought the latest the
• 1:14:41
  oldest manufacturer of Milan inside
• 1:14:43
  Milan and we will enlarge this
• 1:14:46
  manufacturer and we will also link it to
• 1:14:50
  uh link this manufacturer to a jewelry
• 1:14:53
  school to be able to get guarantee to
• 1:14:56
  maintain this level and this tradition
• 1:14:58
  of craftmanship at the highest level
• 1:15:01
  starting from the youngest age from a
• 1:15:03
  gold smith and um because the the the
• 1:15:06
  milanes tradition and the milanes style
• 1:15:09
  is very
• 1:15:11
  specific is very centered around the
• 1:15:15
  stone the diamond not so much about the
• 1:15:17
  mounting and the gold around we because
• 1:15:19
  we want to our aim is to to enhance the
• 1:15:23
  diamond and and the refraction of the
• 1:15:24
  light of the diamond so this is the
• 1:15:26
  centerpiece of of every piece of Jewel a
• 1:15:29
  necklace a
• 1:15:31
  bracelet a nice ring or a pair of
• 1:15:33
  earring and uh and we want to have that
• 1:15:37
  level of Excellence so we want to have
• 1:15:39
  our own manufacturer we having our own
• 1:15:41
  manufacturer we going to link to to a
• 1:15:43
  school and then we can support the
• 1:15:45
  growth and to supply the the the highest
• 1:15:48
  quality of of of of diamond jewelry
• 1:15:51
  because we are only focused on diamonds
• 1:15:53
  we don't do semi- pressure Stone we do
• 1:15:55
  only diamonds I jewelry um and um and
• 1:16:00
  this is our two key challenge so to find
• 1:16:03
  the right partner who really understand
• 1:16:04
  our business model and understand that
• 1:16:07
  there is a market opportunity to to to
• 1:16:10
  to reach some wealthy client um and the
• 1:16:14
  our actual Partners who are for example
• 1:16:16
  B in Europe and we are going to expand
• 1:16:19
  the network or Arion Paris and and other
• 1:16:22
  that will come soon because we we we end
• 1:16:24
  up the process to sign new contract um
• 1:16:28
  uh we want to support also this growth
• 1:16:30
  by investing and guarant and to
• 1:16:33
  guarantee the level of knowhow and the
• 1:16:36
  level of Exquisite quality of the
• 1:16:38
  craftsmanship with the with the best Ro
• 1:16:41
  material that that we can provide for
• 1:16:43
  for this
• 1:16:44
  jewelry oh wonderful wonderful so it's
• 1:16:47
  it's basically a challenge that is about
• 1:16:51
  um you know bringing the the artist
• 1:16:55
  that you're already creating to another
• 1:16:57
  level but also to enhance the as we also
• 1:17:02
  discussed during during the podcast
• 1:17:03
  today the Ser the level of service the
• 1:17:06
  level of
• 1:17:07
  personalization um to the customers
• 1:17:09
  exactly exactly we we like to we like to
• 1:17:12
  say that we are the the Italian teller
• 1:17:14
  of Aly it means that we can provide also
• 1:17:18
  we Pro of course we have collection that
• 1:17:20
  we we propose to our to our business
• 1:17:22
  partner but we can provide also a tailor
• 1:17:24
  made approach of Hydra and we we have
• 1:17:28
  several requests from clients you know
• 1:17:30
  they want to have their One of a Kind
• 1:17:31
  piece Unique Piece and we do that we sit
• 1:17:34
  with them we design we design them and
• 1:17:37
  then we do it only for them and uh with
• 1:17:40
  with the the highest quality of diamond
• 1:17:43
  that we can find on on the market and
• 1:17:46
  and um this is really important we
• 1:17:49
  welcome them even if they can come to
• 1:17:50
  Milan in our own our own showroom near
• 1:17:53
  the duo it's a very nice
• 1:17:55
  a place that of course you you will be
• 1:17:58
  the most welcome on your next visit to
• 1:17:59
  to Milan and U wonder and and I
• 1:18:03
  encourage any of you your listener but
• 1:18:05
  to to visit us in Milan they want to see
• 1:18:08
  our our showroom and our collection or
• 1:18:10
  to go to our website Marco
• 1:18:13
  Valente uy.com or our Instagram account
• 1:18:19
  equally wonderful and we will we will
• 1:18:21
  put the links to um your brand and also
• 1:18:25
  how to contact you we'll put them in the
• 1:18:26
  show notes so and as as Luke said um all
• 1:18:30
  of you who watch this and want to get in
• 1:18:32
  touch want to learn more about the brand
• 1:18:34
  then feel free to reach out and then
• 1:18:37
  Luke maybe last question for me is where
• 1:18:39
  do you see the the future of luxury um
• 1:18:42
  where do you see the the industry
• 1:18:44
  heading where do you see Trends and what
• 1:18:48
  do you think will be for you know
• 1:18:51
  managers of luxury that are listening
• 1:18:53
  now to to to uh this podcast what will
• 1:18:57
  be critical success factors to you know
• 1:19:00
  lead the change that we are all
• 1:19:03
  experiencing the CR the critical Factor
• 1:19:06
  uh the critical factor is the human
• 1:19:10
  relationship so the human relationship
• 1:19:12
  that you have with your client because
• 1:19:15
  as uh as we said earlier this is the key
• 1:19:19
  factor of success uh you can uh you can
• 1:19:23
  fell in love with a Run for the design
• 1:19:26
  for for the Articles the products if the
• 1:19:29
  relationship is a disaster uh it's
• 1:19:32
  killing everything so if you if you can
• 1:19:35
  imagine if you are the owner of a brand
• 1:19:37
  or or the shareholder of a group you you
• 1:19:39
  invest a lot of money to hire super high
• 1:19:43
  designers you you open the best Boutique
• 1:19:45
  in the world in the best location but
• 1:19:48
  you your your your the human
• 1:19:51
  relationship with the client is a
• 1:19:52
  disaster but you you're investment worth
• 1:19:55
  nothing at the end of the day so you're
• 1:19:57
  losing everything so the more and more
• 1:20:00
  it will become automatic with you know
• 1:20:04
  CRM management tools through through AI
• 1:20:08
  or other system the more and more the
• 1:20:11
  human relationship will be a key factor
• 1:20:14
  of success so you need to invest in this
• 1:20:17
  human relationship with uh everybody
• 1:20:20
  from your team by the way not only the
• 1:20:22
  front people um who are talking to your
• 1:20:26
  clients but the back office people who
• 1:20:28
  are normally here to support them by the
• 1:20:30
  way I like what you said about you know
• 1:20:32
  to reverse the orar chart and to put the
• 1:20:35
  C at the at the at the bottom it's
• 1:20:39
  exactly um uh what we should do we are
• 1:20:42
  the we are the support team for the the
• 1:20:44
  front people in in connection with the
• 1:20:47
  clients but you have also to know about
• 1:20:49
  the CL so first it should be compulsory
• 1:20:52
  for everybody from the back office to go
• 1:20:54
  in the boutique and to uh to to have a
• 1:20:57
  retail experience because we are in the
• 1:21:00
  retail uh business model retail business
• 1:21:03
  model we are not uh even if you do B2B
• 1:21:08
  at the end of the day you sell to final
• 1:21:09
  client so you need to know about
• 1:21:14
  retail most of the case in business
• 1:21:16
  school people forgot that I forgot
• 1:21:19
  forgotten that retail is retail you have
• 1:21:21
  to be in a boutique and to talk to
• 1:21:23
  clients uh this is really important and
• 1:21:26
  that your relationship with the client
• 1:21:28
  can make a huge difference you you can
• 1:21:31
  increase you
• 1:21:33
  know I always say that a very good sales
• 1:21:36
  Ambassador can do plus 20 plus 30% and a
• 1:21:39
  very bad can do minus 20 minus 30 so the
• 1:21:43
  gap between two two sales Ambassador is
• 1:21:46
  60% this is a killing this is a killing
• 1:21:50
  effect on your retail business model if
• 1:21:53
  you have this this gap between two
• 1:21:55
  salese plus 30 minus 30 it's a financial
• 1:21:59
  disaster at the end of the day uh so you
• 1:22:03
  you have to have the the the the best
• 1:22:07
  ambassadors and so the for me the the
• 1:22:10
  the future AB the absolute future is the
• 1:22:13
  human relationship between the brand and
• 1:22:16
  and the
• 1:22:18
  clients wonderful and I think this is a
• 1:22:21
  great kind of circle that we were going
• 1:22:24
  from from since the beginning of of our
• 1:22:26
  conversation you know I remember when I
• 1:22:28
  asked you the question what is luxury
• 1:22:30
  you spoke about the exceptional quality
• 1:22:32
  of the materials the craftsmanship the
• 1:22:35
  real history and the exclusivity but
• 1:22:37
  then you said all of this has to
• 1:22:41
  translate into the emotional key of the
• 1:22:44
  client and then we discussed I think in
• 1:22:46
  the one and a half hours of our
• 1:22:48
  conversation all kind of aspects um of
• 1:22:51
  it you know from the DNA of the brand
• 1:22:53
  that has to match the client DNA so we
• 1:22:56
  have also here again the human the human
• 1:22:59
  factor or you know you mentioned that
• 1:23:01
  very often in in our reality today sales
• 1:23:05
  people describe what is the obvious but
• 1:23:07
  then they maybe forget the Human
• 1:23:09
  Experience you know we also said um I
• 1:23:11
  love what he said for example in
• 1:23:12
  incentive system 1+ 1 is three because
• 1:23:15
  again the the human factor that you
• 1:23:17
  bring in um is so valuable and it's
• 1:23:20
  maybe I don't want to say more valuable
• 1:23:22
  but at least as valuable as all the
• 1:23:24
  other aspects in the um in in the um in
• 1:23:29
  the entire custom experience you know
• 1:23:31
  and then we spoke about the the um now
• 1:23:35
  in in your summary or in where you see
• 1:23:37
  the future is heading um that the human
• 1:23:39
  relationship becomes the really the
• 1:23:41
  mission critical and I totally agree
• 1:23:44
  with you I think that in the world in
• 1:23:46
  which we're heading in um there's not so
• 1:23:49
  much to say we we we know for sure
• 1:23:51
  what's going to be in 5 years and 10
• 1:23:53
  years and 20 years no one has the
• 1:23:54
  crystal ball but I would if if we
• 1:23:58
  basically say that the past is a bit of
• 1:24:00
  a predictor of the future we can
• 1:24:03
  probably assume that our world is going
• 1:24:05
  to be more interconnected digitally um
• 1:24:09
  we will probably not use dramatically
• 1:24:12
  less social networks but probably more
• 1:24:15
  um and we will have a much more
• 1:24:17
  Integrated Life between the digital and
• 1:24:21
  the physical um and this means that the
• 1:24:25
  the pure physical
• 1:24:27
  experiences will probably be less than
• 1:24:31
  what we have today so if our world
• 1:24:33
  becomes more digital almost
• 1:24:34
  automatically there's less and less
• 1:24:36
  space for physical experiences which
• 1:24:38
  also means that the physical experiences
• 1:24:41
  when we experience them become so much
• 1:24:44
  more valuable because they become almost
• 1:24:47
  exclusive and I think this is to me
• 1:24:49
  where also today a lot of brands are
• 1:24:52
  failing already and then maybe even are
• 1:24:54
  going to be failing more in the future
• 1:24:56
  is that if they provide today only a
• 1:24:59
  mediocre
• 1:25:01
  experience then they're already kind of
• 1:25:04
  wasting the time of the of the customers
• 1:25:07
  and also I wanted to kind of um go to
• 1:25:10
  one of the things you said before that
• 1:25:12
  you know once we experience something
• 1:25:14
  much better we don't want to go go back
• 1:25:17
  and I think what also a lot of companies
• 1:25:20
  underestimate is the the individual
• 1:25:23
  human
• 1:25:25
  has all kind of experiences in different
• 1:25:27
  categories so um let's
• 1:25:30
  say and if I take if I take a c for
• 1:25:33
  example let's say um we would be an
• 1:25:37
  automotive then almost
• 1:25:40
  naturally what we would do is we would
• 1:25:42
  Benchmark ourself with our competitors
• 1:25:44
  and automotive and we would look into
• 1:25:45
  you know what is brand a doing B doing
• 1:25:48
  see doing and we would make sure that we
• 1:25:50
  are at least on par with them but I
• 1:25:53
  always want my client
• 1:25:54
  across the different categories and say
• 1:25:56
  this is not enough anymore in the world
• 1:25:58
  today because if they buy a piece of
• 1:26:01
  jewelry or they go to a fancy restaurant
• 1:26:04
  or um you know have a lot of other
• 1:26:07
  experiences now they will compare the
• 1:26:09
  experience in that particular category
• 1:26:11
  is all other experiences and if then the
• 1:26:15
  brand in a particular category or the
• 1:26:17
  brands as a collective in that category
• 1:26:19
  fall behind because in that Cate that
• 1:26:22
  category is maybe a little bit more
• 1:26:24
  traditional suddenly you can get
• 1:26:26
  irrelevant as an entire category so I
• 1:26:29
  think the the um my feeling is also just
• 1:26:33
  wanted also to maybe get your feel on
• 1:26:35
  that is since the change is accelerating
• 1:26:39
  so much and the CH it looks like things
• 1:26:41
  are changing faster and faster even if
• 1:26:43
  you see adaptation rates at Key
• 1:26:45
  Technologies you know you mentioned AI
• 1:26:48
  it's the fastest adapted technology ever
• 1:26:50
  in human history and if you think about
• 1:26:52
  generative in AI it's not so long that
• 1:26:55
  we saw the first applications and now
• 1:26:57
  every company is is trying to see how
• 1:27:00
  can they apply it so we can assume that
• 1:27:02
  these kind of changes are going to be
• 1:27:04
  even more steep more drastic and faster
• 1:27:08
  and I think uh here the the the as you
• 1:27:11
  said the human relationship is is is
• 1:27:14
  critical but what do you feel like in
• 1:27:17
  this faster acceleration of
• 1:27:21
  change um anything else that companies
• 1:27:25
  have to to focus on to kind of lead this
• 1:27:30
  change by training for me
• 1:27:33
  is is is a key factor you have to train
• 1:27:36
  to train to train again to train to
• 1:27:38
  train and again I think the hospitality
• 1:27:40
  industry is is quite good at that
• 1:27:42
  training
• 1:27:43
  people uh they do that you just have to
• 1:27:46
  be careful not to train them on the same
• 1:27:48
  mistakes always always because it's like
• 1:27:50
  when I receive a resume and and people
• 1:27:53
  are thinking ah have 15 years of
• 1:27:55
  experience in this field I say yeah but
• 1:27:56
  I don't know the quality of your
• 1:27:57
  experience so no offense but I'm going
• 1:28:01
  to check that first um it's the same um
• 1:28:06
  uh so so train training you have to you
• 1:28:08
  know it's like sport if you want to be
• 1:28:10
  the best you have to train you have to
• 1:28:11
  train you have to uh always so never
• 1:28:15
  never stop training to to to perform um
• 1:28:19
  second I think you have to be open also
• 1:28:21
  to
• 1:28:22
  creativity uh with your team we we talk
• 1:28:25
  about Empower people you have to be open
• 1:28:27
  to creativity from your team because
• 1:28:29
  more and more now uh luxury M belongs to
• 1:28:33
  Big corporate group and it's you know
• 1:28:36
  it's coming with management process top
• 1:28:39
  down approach you have to do this to be
• 1:28:41
  successful etc etc and there is no more
• 1:28:44
  uh room for
• 1:28:46
  creativity from uh uh from everybody at
• 1:28:49
  each level uh from the team and and we
• 1:28:52
  have to be uh open mind and you have to
• 1:28:56
  respect sometimes the the the
• 1:28:58
  style sometimes the style of sales
• 1:29:01
  people are different than the stereotype
• 1:29:02
  that you were thinking of and they are
• 1:29:05
  successful you know the the I love that
• 1:29:07
  Financial proverb which say the market
• 1:29:09
  is always right so if the client is
• 1:29:11
  buying the client is buying the style of
• 1:29:13
  the sales
• 1:29:14
  Ambassador they respect the guidelines
• 1:29:17
  of of the BR um has to be respected also
• 1:29:21
  you know it's like in a in a if you go
• 1:29:23
  uh
• 1:29:24
  for me a fine gastronomic restaurant
• 1:29:27
  always the the kiler question for me at
• 1:29:29
  the end is do you want a dessert I mean
• 1:29:34
  guys you are in a business
• 1:29:36
  model
• 1:29:38
  uh everybody around the table of course
• 1:29:41
  will say no because everybody's taking
• 1:29:43
  care about you know his heal and they
• 1:29:45
  say okay it's the evening we don't yeah
• 1:29:47
  now you are you are asked not to eat
• 1:29:49
  sugar anymore in the evening etc etc so
• 1:29:52
  of course everybody will say say no but
• 1:29:55
  uh if you ask if you come and you say oh
• 1:29:58
  you know today we have a very special
• 1:30:00
  dessert made of blah blah blah it's
• 1:30:03
  coming with this special chocolate that
• 1:30:06
  coming from Ivory Coast it was roasted
• 1:30:08
  at a certain temperature it's an
• 1:30:11
  Exquisite one other kind there is always
• 1:30:14
  one guy or lady around the table who
• 1:30:16
  will say yes and then if you have one
• 1:30:18
  yes then you will have two three then a
• 1:30:20
  lady will say yes and all the ladies
• 1:30:22
  will say yes also and then it's plus 30%
• 1:30:25
  or 25% of of the Bill of turnover it's
• 1:30:29
  why also if you go to really really high
• 1:30:32
  level gastronomic restaurant they bring
• 1:30:34
  you a chario of Desair because you see
• 1:30:37
  all of them and you cannot resist it's
• 1:30:39
  the same with the cheese show you know
• 1:30:41
  from the three time you always ask why
• 1:30:44
  they're coming with everything a because
• 1:30:46
  if they put that you the show in front
• 1:30:49
  of you you cannot resist but it's the
• 1:30:52
  same so it's very good so when in the
• 1:30:54
  restaurant the waiter is coming and ask
• 1:30:56
  does everybody want a dessert it's a
• 1:30:59
  disaster for for for for the restaurant
• 1:31:01
  so in the human relationship you have
• 1:31:03
  always also to train them in the in the
• 1:31:06
  right way and to to the the the training
• 1:31:09
  should be focused on emotions how to
• 1:31:13
  pass a
• 1:31:14
  passion how to pass the passion and how
• 1:31:17
  to trigger
• 1:31:18
  emotion at each stepe of the
• 1:31:20
  relationship with your client is how you
• 1:31:22
  can trigger the emotion
• 1:31:24
  this should be the main target the main
• 1:31:26
  goal of a training the goal is not to
• 1:31:29
  say you have to sell 20% more 25% more
• 1:31:33
  to sell is how you can trigger the
• 1:31:36
  emotion if you do that your client will
• 1:31:39
  follow you and then will be loyal to you
• 1:31:41
  because then you will be able to to sell
• 1:31:44
  much more than an article you will sell
• 1:31:46
  the level of service and they are
• 1:31:49
  expecting that level of service and then
• 1:31:51
  they will say wow and on top of that the
• 1:31:54
  the good
• 1:31:57
  uh word of mouth will be a fantastic
• 1:32:01
  advertising for the for the company and
• 1:32:04
  and you know by the way that the
• 1:32:05
  opposite is is worse when you have a bad
• 1:32:08
  negative word of M this is a killer to
• 1:32:11
  to regain it it's a it's it's a
• 1:32:13
  nightmare but um uh everybody if you ask
• 1:32:18
  around you everybody complain about the
• 1:32:21
  dentists but everybody knows a good one
• 1:32:24
  yeah uh so back because everybody likes
• 1:32:28
  to say to somebody else that they know
• 1:32:31
  somebody who good or some that human
• 1:32:34
  being love to do that I know this I know
• 1:32:36
  this I know this and the best mod
• 1:32:39
  business model by the way to sell is to
• 1:32:41
  have what I call the luxury toare Weare
• 1:32:43
  strategy is to have a small gathering
• 1:32:46
  with client and Prospect because your
• 1:32:48
  client will sell uh instead of you you
• 1:32:51
  don't have to sell your clients will
• 1:32:53
  sell for you
• 1:32:54
  so uh I think the uh because the clients
• 1:32:58
  they know they will pass their emotions
• 1:33:00
  and their passions to to others much
• 1:33:02
  more than selling people so um I think
• 1:33:06
  it's a uh the the of course the key
• 1:33:10
  factor of success in in training will be
• 1:33:12
  how to trigger
• 1:33:15
  emotions wonderful and then this I think
• 1:33:18
  is a amazing closing for our first
• 1:33:21
  podcast first of all thank you Luke for
• 1:33:24
  you know I think we said we probably
• 1:33:26
  chat for an hour and I think we are now
• 1:33:28
  probably almost about 1 hour 45 or or so
• 1:33:32
  but uh you know and I'm pretty sure if
• 1:33:35
  uh um if we would not look at the watch
• 1:33:38
  we could talk forever and and go deeper
• 1:33:41
  and deeper in this direction but what I
• 1:33:42
  really loved about our conversation was
• 1:33:45
  that you know we can really see that
• 1:33:47
  fundamentally when when when we create
• 1:33:50
  luxury we have to create something very
• 1:33:52
  human something very you know that is
• 1:33:55
  that is uh um that that is basically in
• 1:33:58
  grind in passion so passion emotion and
• 1:34:01
  this human factor you know um being
• 1:34:04
  empathetic also to the other side is is
• 1:34:06
  great and what what I what I love this
• 1:34:09
  is that there's so many misconceptions
• 1:34:11
  about about luxury you know um and about
• 1:34:14
  the the sometimes arrogant behavior and
• 1:34:16
  so but we see fundamentally is very down
• 1:34:18
  to earth it's trying to understand
• 1:34:20
  another person and then trying to
• 1:34:24
  Inspire them give them something that
• 1:34:26
  they truly love that they fall in love
• 1:34:28
  for and then nurture that relationship
• 1:34:31
  that that builds and I think the
• 1:34:33
  companies that can do this and the
• 1:34:36
  individuals that can do this uh uh right
• 1:34:38
  and then you know if you take a company
• 1:34:40
  level when you can do this at scale then
• 1:34:42
  I don't think that there's anything that
• 1:34:44
  can stop them and very often when we see
• 1:34:46
  brands that are
• 1:34:49
  underperforming then there's the passion
• 1:34:51
  is missing the human factor is missing
• 1:34:53
  the sales process is often broken the
• 1:34:55
  stories are not really told well and so
• 1:34:57
  on it always kind of goes back to the
• 1:34:59
  same root cause so um I thought it was a
• 1:35:02
  fascinating discussion um as always when
• 1:35:05
  we talk about luxuries there's so many
• 1:35:07
  things that I'm that I'm taking myself
• 1:35:09
  as a learning from you know your your
• 1:35:11
  Rich um background and your experiences
• 1:35:14
  that you had I thought the examples that
• 1:35:16
  you shared were incredible and I wish
• 1:35:19
  you best of luck for you know in your
• 1:35:21
  new role um with your company and as we
• 1:35:24
  said in the show in the show notes um
• 1:35:26
  you know we're going to to share the the
• 1:35:28
  contexts and so on and take on Luke's
• 1:35:31
  invitation to Milan and I can wait I
• 1:35:34
  will surely be this year in Milan at
• 1:35:36
  least once or twice so next time I'm
• 1:35:38
  there I'll let you know and then I will
• 1:35:40
  will experience your brand um yourself
• 1:35:43
  and uh you know until then thank you so
• 1:35:45
  much for coming it was really a true
• 1:35:47
  pleasure thank you Danel I wish you a
• 1:35:49
  very nice hand of the day and uh I look
• 1:35:52
  forward to receiving a new and to
• 1:35:53
  welcoming you in in Milan to have a a
• 1:35:56
  proper milanes
• 1:35:58
  experience wonderful super thank you so
• 1:36:01
  much
• 1:36:04
  [Music]