MONACO, The Financial Times Business of Luxury Event 2009 was attended by over 400 attendees, including senior executives, luxury consultants, brand experts, fund managers, M&A specialists, and securities and retail analysts from around the world. The event offered an exclusive insight into new trends and business models shaping the global luxury sector, and was chaired by Lionel Barber.
The summit brought together senior luxury sector executives, corporate decision-makers and financiers, and speakers included Bernard Arnault, Chairman & CEO, LVMH Moët Hennessy – Louis Vuitton; Diego Della Valle, Chairman & CEO, Tod’s Group;Angela Ahrendts, CEO, Burberry; Simon de Pury, Chairman, Phillips de Pury & Company; Jim O’Neill, Global Chief Economist, Goldman Sachs; Tyler Brûlé, Editor in Chief, Monocle; Alex Bolen, CEO, Oscar de la Renta Ltd; Joshua Schulman, CEO, Jimmy Choo; and Malcolm McLaren, artist.
The theme of this year’s Summit was ‘Beyond Green: Economics, Ethics and Enticement’, inspired lively discussion on the effect of the credit crunch on the luxury summit and how the industry has to adapt to the emerging new economy and the increasingly high ethical demands of their consumers.
Bernard Arnault, Chairman and CEO, LVMH said: ”A new consumer has emerged and we must respect their demand for impeccable quality and environmental sensitivity….it would be wrong to say nothing will be like it used to be, but it would also be illusory to say it will be exactly like it used to be.”
There were mixed opinions on whether a financial recovery was in sight, and Nick Candy, Joint CEO and Founder, Candy & Candy said, ”there is no liquidity; banks are not lending. There are no green shoots, and when the summer sun goes away everyone will realise this.”
Malcolm McLaren, formerly of the Sex Pistols stated that ”we live in a karaoke culture, which is at war with the authentic and arose from the culture of desire, or culture of consumption.”
For more information and to hear key note speaker interviews please visit www.ft.com/luxury-video
For more information and for a full list of the speakers, please visit the 2009 FT Business of Luxury Summit website, www.ftbusinessofluxury.com.
For photographs of the summit, please go to:
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Next year’s summit will take place in Los Angeles, US. Jayne Van Hoen, Global Director of Conferences and Events said, ‘’The focus of next year’s FT luxury summit will be Hollywood, films and the internet – how to reach a new generation of consumers through new technology and marketing platforms. Los Angeles, the home of film and technology offers the perfect location for our next luxury summit and we look forward to welcoming you there.’
For further information, please contact:
Lizzie Allen, Financial Times, +44 20 7873 4463 or firstname.lastname@example.org
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