ESSEC Masterclass: The Future of Luxury

Dress Code: Business Casual

Abstract

While financial indicators are currently positive, many luxury brands are wondering about the future of luxury: they are obsessed by projections indicating that by 2024, 50% of the market will be made up of Gen Y & Z consumers (BCG) and that Chinese consumers will account for 40% of the luxury market (McKinsey).

How can traditional luxury brands born in the West and nourished by Western Art and Culture remain true to their cultural foundations and heritage while being relevant to an increasingly younger demographic driven by Asia and China? Traditional luxury brands growingly collaborate with streetwear and sports brands, aiming at increasing their “cool” factor, but can this create confusion between streetwear, sport, and luxury? The business of luxury is stronger and more professional than ever, but will the growing concentration and involvement of financial investors put at risk the essence of the luxury strategy, which is about uniqueness and the “Maison” spirit?

In this masterclass, Prof. Denis Morisset will share his thoughts and research on these questions and discuss the possible emergence of Asian/Chinese luxury brands.

About the Speaker

Prof. Denis Morisset worked 25 years in the luxury fashion industry (Ralph Lauren, Pierre Balmain, Giorgio Armani, etc.). He then started in 2004 a new career of luxury marketing professor in ESSEC Business School (Paris and Singapore), specializing in luxury brand management, luxury distribution and retail, luxury service and luxury guest experience. Primarily based in China at the moment, Prof. Morisset is also a visiting professor at ESSEC's partner business schools in Beijing, Shanghai and HK.

This event was organized by ESSEC's international programs team and will give you the opportunity to learn more about our full-time Global MBA with Major in Luxury Brand Management, our Executive Master in Luxury Management, or our Executive MBA programs.