Home Sectors Luxury Goods Luxury Goods Major luxury brand challenges are to capture future sustainable growth by launching real innovation projects in order to conquer the new emerging “millennials” market while keeping the essence of luxury. Mikaël Pichavant Senior Partner (Paris) | ENSTA Sabine Dehais Partner (Toulouse) | ESCP Europe “By nature, luxury means exclusivity and feeling unique. Our consulting support cannot only deploy best practices: we must also invent, co-create.” The luxury sector is undergoing a transformation that is both profound and quick. The development of sales on the internet and the reinforcement of a differentiating in-store customer experience make omnichannel mastery a must. The challenge of capturing the “millennials” market favors the introduction of innovations such as augmented reality, artificial intelligence or IoT, while developing a sustainable luxury brand image with the responsible sourcing of raw materials, the end of property, recycling…. So many projects where our customers rely on our expertise. The success of these projects depends on the respect of the specific codes of the sector: industrial best practices must be adapted to the artisanal state of mind, creators’ freedom must be guaranteed and brand image preserved. 75 projects conducted in the luxury sector 5 partners expert in luxury 25% on line sales in 2025 Omnichannel: an unavoidable model To master the omnichannel model, luxury players have to meet several challenges, such as the implementation of shared catalogs and data management tools, the homogenization of standards, the definition of a digital management team well positioned within the company, without forgetting a total visibility on stocks. This leads to tools integration projects allowing real-time supervision and for the most advanced, setting up OMS (Order Management System). Mastering the innovation pace The luxury sector constantly reinvents its iconic products in many possible variations, and at an ever-increasing pace (e.g. emergence of jewelry collections). This acceleration leads to a need to revise forecasting models – especially at product launch – to facilitate inventory reallocation based on local sales and to better anticipate supplies: a revamped S&OP! Discover our stories Supplier capacity management for a leading jewelry maker Which organization could facilitate the management of subcontractors? Find out more Structuring the innovation process Creating an environment which promotes innovation requires a delicate balance between structured processes – to better control spending – and an evolution of culture that allows the emergence of breakthrough ideas. Find out more Support in the definition and implementation of a PLM for a luxury player We helped develop an ambitious PLM approach for this luxury leader in order to provide its businesses with the processes and collaborative tools to support the materials and product development process, from creation to production. Find out more News Are you interested in these topics? Contact us Follow us on social media LinkedIn Twitter Facebook Xing Instagram YouTube Follow us on: MEWS TEAM EXPERTISE SECTORS DIGITAL & DATA MEWS ACADEMY News Legal notices Contact information Privacy policy Cookies EN Mews Partners · Copyright 2021 · All rights reserved. Nous vous demandons d'accepter les cookies afin d'optimiser les performances et les fonctionnalités. Pour obtenir davantage d'informations ou pour modifier vos préférences. J'approuve Préférences de confidentialité