A week ago, we were in Singapore for the International New York Times SEA of Luxury Conference (#INYTLux). Gathered in a refined venue on Sentosa were top actors of the industry as well as a crowd of entrepreneurs with young luxury brands, investors looking for a coup, and of course the usual spin doctors accompanying their speaker (such as your author here) as well as the troop of perfect Italian men.
Highlights of the conference were a subtle speech peppered with french-esque punetry by Grégoire Blanche (Cartier SEA+Australia Director), a humbling story about Luxury Fashion marketing by Jedi Master Domenico De Sole (Tom Ford and former Gucci Marketing Director), an inspiring manifesto about Vogue China by its editor in chief Angelica Cheung, a top-notch market study by Andrew Keith from iconic Lane Crawford / Joyce stores, and some expert insight from digital gurus Federico Marchetti (Yoox Group founder and CEO) and Thomas Crampton (Ogilvy Social Media Director in SEA)…
VQ’s CEO and founder of Runway concept-stores in Vietnam also took the stage along with regional colleagues including Chandra Widjaja from Club 21 or Eman Pineda from Adora (Philippines). Talks about retailing strategies for multi-brand concept stores were led by journalist and consultant Robb Young who definitely hit our right buttons about cities, their spirits and their future developments.
With such a high level among speakers, we could not help but note and note and note down key trends. The whole conference was about South East Asia but here and there gloomed the shadow of China and its unavoidable media weight. A few speakers managed to avoid the elephant in the room altogether, but the shift of focus is only slowly coming to the rest of Asia. The region really offers very various market situations: Singapore is a crazy market for watches and jewelry while Hong Kong is the trendy and fashionable destination. Thailand, Indonesia and the Philippines form a second tier while Vietnam seems ready to join the club although off-the-record discussions said it was the most difficult market to read. As a new pionneer to the market, we can’t do but agree.
While a few years ago the very euro-centered Luxury Industry would focus on patrimonial assets, it appears that conquering the Far-East has now pushed every company towards more efforts in catalyzing creativity and supporting cross-channel actions.
The cycle ended with a touching milestone moment celebrating our host Suzy Menkes’ 25 years in activity.
Our selection of pics from INYT Luxury’s photo stream on Flickr.