10 Post-its on Luxury & Beauty Brands from May Events at SDA Bocconi

What do business leaders ask themselves approaching a new project? Where can you find inspiration to design for the future and foresee consumer demands, which do not exist yet? And what are the success factors for forward-looking luxury and beauty brands? Here’re some of the questions, answers to which I’m going to put as my virtual post-its, and they come from the recent events at my alma mater SDA Bocconi School of Management in Milan, which featured speakers from Bottega Veneta, Cartier, Prada, OTB Group, VAM Investments, Ferrari, Davines Group / Comfort Zone, KIKO Milano, Dolce & Gabbana, and New Guards Group. 

On May 8th, all five previous editions of the Executive Master in Luxury Management (EMiLUX, I’m class 5, which graduated in 2022), the current class, SDA Bocconi professors, and luxury industry leaders gathered on campus for the first ever EMiLUX reunion held in the form of a day-long conference. A week later, I got back to SDA Bocconi for a special event organized by the school’s Luxury and Arts Club, which covered the topics of sustainability and future trends in the beauty industry.

Since my posts are positioned as Notes, I took the liberty to share my impressions of the events not in the form of detailed reporting but rather as inspirations and thought starters based on what I heard in different sessions.

# 1 Ask yourself a question in what you want to have not the most results, but rather most impact
Inspired by Leo Rongone, CEO, Bottega Veneta, and his presentation on thinking values rather than volumes.
For me, this is a great starting point to consider while approaching a new job, project, or just another new day of life. We often measure our success in numbers, events, or projects executed, but are we actually doing what matters and are we making the impact in the areas where we really want to leave a footprint?

#2 You need to have a focus, that’s how you make an impact. Create a specific product for a niche audience. Or a very simple product for a large audience. You can’t be all for all people, you need to choose in what you should put your effort.

Inspired by Matteo Guerrini, BU Managing Director, New Guards Group

#3 We don’t design for particular types of consumers. We design for the future, and art expands our horizons and inspires us to create new forms.

Inspired by Flavio Manzoni, Chief Designer, Ferrari, and his talk mentioning the works of Marcel Duchamp, Picasso and Anish Kapoor as well as Sergej Prokofiev and Keith Jarrett. 

#4 People are looking for more value: more benefits, more results from the product. You also need to have a unique point of view because the market is so saturated. Fenty Beauty is an example of a successful brand, which achieved recognition for its focus on inclusivity

Inspired by Prachi Shah, Global Senior Product Manager, D & G

#5 The power of saying no – being omnichannel doesn’t mean using every channel, you need to choose channels to communicate your values, and you need to create a seamless experience that doesn’t hurt.

Inspired by Matteo Guerrini, BU Managing Director, New Guards Group

#6 The future of technology is humanities and storytelling. We should look at the brands from within and see how we can use technologies to tell better stories.

Inspired by Cyrille Vigneron, President and CEO, Cartier

#7 Pay attention to your genius loci, the spirit of the place the brand is coming from.

Understanding and respecting your genius loci can inform your brand positioning and influence the brand’s creative strategy. Bottega Veneta was born in the Veneto region, and those roots are highlighted in such campaigns as “Craft in Motion” featuring the brand’s Veneto workshop and “Bottega for Bottegas” supporting the Italian artisanal brands. Casa Fantini is historically linked to Orta Lake, and its artistic and creative projects reflect that connection.

Inspired by Prof. Andrea Rurale, SDA Bocconi, and Daniela Fantini, CEO, Casa Fantini

#8 Transparency is the new authenticity. Consumers can research online, compare and react.

Inspired by Matteo Guerrini, BU Managing Director, New Guards Group

#9 The most important thing in luxury is time, if you don’t build with time in mind, it doesn’t work.
Timelessness means that without the time passed you can’t create iconic products.

Inspired by Leo Rongone, CEO, Bottega Veneta

#10 Trends in the beauty industry:

• People want not to look beautiful but rather feel beautiful and be able to express that;
• Pop up / temporary locations can be useful to engage audiences at particular times and to see if there’s potential;
• Virtual experience provides opportunities for immersive storytelling;
• Growing potential of home fragrance;
• Stop age anxiety – mature people can be even beautiful;
• Local contribution is key.

Inspired by Matteo Guerrini, BU Managing Director, New Guards Group

In the majority of these trends arts and culture can be an essential communications tool. We can raise questions and tell wellness stories through creative projects, reimagine pop-up locations and develop memorable virtual experiences with the help of artists and musicians, and, of course, supporting art and culture is one of the ways for the brand to contribute to the local community.

Which of these thoughts resonate with you most and can be useful for your work? Please share your comments in the Contact Me section.