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Shameless self-promotion which I am considering a part of my severance from WK was making this amazing Caitlin Clark work with the more amazing Nike…
Shameless self-promotion which I am considering a part of my severance from WK was making this amazing Caitlin Clark work with the more amazing Nike…
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It was a pleasure sitting down with Women’s Wear Daily to reflect on the evolution of our stores and to share our vision of making Amazon Fashion for…
It was a pleasure sitting down with Women’s Wear Daily to reflect on the evolution of our stores and to share our vision of making Amazon Fashion for…
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Yair Shimansky
Volume Up, Value Down: The Rise of Lower Ticket Items in Jewelry In recent years, the jewelry industry has witnessed a significant shift in consumer preferences and purchasing patterns. The current economic climate, coupled with the rise of direct-to-consumer (D2C) brands, has led to the emergence of lower-priced jewelry items. This shift has not only posed challenges to manufacturers' capacity but has also highlighted the importance of delivering a meaningful difference to consumers. Escape the sea of sameness and thrive in an increasingly competitive market. D2C brands have leveraged technology and social media to build strong online presence and engage with their target. The increasing demand for lower-priced jewelry has placed considerable strain on manufacturers' capacity. Producing high-quality jewelry at affordable prices requires meticulous craftsmanship and efficient production processes. Every dollar counts in this scenario, as manufacturers need to strike a delicate balance between cost optimization and maintaining the desired level of quality. This challenge has pushed manufacturers to embrace innovative manufacturing techniques and optimize their supply chains to meet the growing demand. As the market becomes saturated with lower-priced jewelry options, standing out from the competition is crucial for brands. Simply offering affordable jewelry is no longer enough to capture consumer attention. Brands must focus on understanding their target customer base, their preferences, and aspirations. By creating unique designs, incorporating meaningful stories, or using sustainable materials, brands can differentiate themselves and offer a compelling value proposition to consumers. Building an emotional connection with customers becomes paramount in escaping the sea of sameness. Knowing your customer is essential in delivering a personalized and memorable experience, which ultimately leads to brand loyalty and higher price command. Failing to differentiate or deliver a meaningful difference can result in stagnation or even decline. A well crafted strategy well executed is paramount to any brand. #luxurybrands #jewelry #shimansky #luxuryretail #brandstrategy #diamondjewelrt
401 Comment -
Natalia Jaramillo CCXP
Today I want to highlight some brand experiences that I find interesting and that are outstanding examples of what luxury brands should be doing in terms of coherence, impact, depth, and emotionality. I'm referring to Villa Zegna by Ermenegildo Zegna Group and Casa Cucinelli by Brunello Cucinelli. At the intersection of fashion, lifestyle, and Italian craftsmanship, Villa Zegna and Casa Cucinelli stand out as carefully designed destinations that encapsulate the vision and legacy of their founders. From Italy to the world, these places offer an immersion into the aesthetic and philosophical world of their creators, combining distinctive design with meticulous attention to detail and a commitment to sustainability and cultural authenticity. For example, Casa Cucinelli is located in places like Solomeo, Milan, London, Tokyo, New York, Hong Kong, and Paris. Each location is unique and responds to the local context, transforming historical apartments into spaces that blend art, history, and culture with the brand's identity. Here, the shopping experience feels more like visiting the home of a very special friend. On the other hand, Villa Zegna introduces a new global experience that travels to different markets, starting with "An Oasis of Linen in Shanghai." Inspired by Ermenegildo Zegna's vision of making the world a better place, this initiative not only offers luxury products but also provides a multisensory exploration of the brand's commitment to sustainability and community. Both places go beyond being mere boutiques; they are living testimonies of how luxury can merge with hospitality, craftsmanship, and social and environmental commitment. They celebrate Italian cultural roots while offering a personalized and profound experience that goes beyond product purchase, creating authentic and lasting connections with their customers. In summary, Villa Zegna and Casa Cucinelli are inspiring examples of how luxury brands can reinvent the customer experience, not only by offering exceptional products but also by sharing stories and values that resonate on an emotional and cultural level. What do you think about these initiatives? Have you ever visited these spaces? I would love to hear your experiences and perspectives. #Luxury #Fashion #Hospitality #Sustainability #ItalianCraftsmanship #BrandExperience #VillaZegna #CasaCucinelli
242 Comments -
Edahn Golan
A small 1.3% rise in sales at US jewelers in April. The increase in revenue was fully spurred by a 2.5% increase in the average consumer expenditure per unit purchased. A few of the figures: Natural diamond jewelry sales rose 1%, Prices of LGD-set DERs declined, Loose LGD was 57% of loose diamond sales, but just 25% of revenue. Here is an issue: LG prices are down, but gross margins and unit sales are up. What does it impact gross profits? We took a look at that and have some findings. https://lnkd.in/dDw4s8MQ
3817 Comments -
Bettina Bianca Lirsch
The Italian subsidiary of Dior is under judicial administration – the dark side of the “Made in Italy” luxury brands. Dior is not the first fashion company targeted by the Milan Court for employment issues. In April, judicial administration was ordered for Giorgio Armani Operations Spa, which designs and produces clothing and accessories for the fashion group, following an investigation concerning the alleged exploitation of labour through the use of contracts for the production of illegal factories and the use of illegal and clandestine Chinese labour. In January, the judicial administration measure was taken for Alviero Martini Spa, deemed "incapable of preventing and curbing phenomena of labour exploitation within the production cycle". This is the sad truth about the so-called “Made in Italy “production of a lot of luxury companies. That is why the EU's new directives measures to ensure that textiles are produced circularly, sustainably and socially justly are not made just for fast fashion brands but also for luxury brands that have increased their price since 2019 by up to 33%. I firmly believe that the excuse of the fashion industry's complex supply chain being difficult to control is unacceptable. If the same money allocated for advertising and brand building were used to improve working conditions and reduce the fashion industry's environmental impact, it would greatly benefit the industry. It's crucial to ensure that a fair share of earnings reaches the people at the beginning of the supply chain, allowing for sustainable growth and granting equal rights for both men and women to build their own and their children's futures. As a consultant, I have insight into the manufacturing operations of my clients. Being a woman, I am particularly sensitive to ensuring good working conditions for both genders and providing opportunities for personal growth and development for all individuals. https://lnkd.in/d8XDUvSE
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Megan Crabtree
📢 New Article Alert! 📢 🌟 A Buyer’s Guide for Bringing Aboard New Jewelry Lines 🌟 In the ever-evolving world of jewelry retail, staying ahead of trends and offering fresh selections is crucial. Before you get swept away by the allure of a new brand, make sure you're approaching onboarding with a strategic eye. 🧐✨ 📝💍Consider this your checklist for adding new vendors to your store: https://ow.ly/AeMC50SoEA2 #MeganTellsAll #JewelryRetail #BusinessStrategy
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Andreas Anding
Insights from CEO of Bottega Veneta, at FT Live Business of Luxury Summit During the FT Business of Luxury Summit, Leo Rongone provided valuable insights into the brand's strategy and vision. Moderated by Jo Ellison, Editor at HTSI, Financial Times, the interview highlighted key aspects of Bottega Veneta's approach in the luxury fashion market. Challenges: - Digital Strategy: Balancing digital presence with brand exclusivity. - Sustainability: Integrating eco-friendly practices while maintaining high-quality standards. - Market Reach: Expanding globally while preserving brand identity. Key Insights: - Exclusivity: Bottega Veneta's decision to exit and later return to social media, focusing on Weibo, underscores its commitment to individuality and exclusivity. - Sustainability: The brand's environmental initiatives, including a lifetime warranty on handbags, demonstrate a strong commitment to sustainable luxury. - Innovative Marketing: Collaborations with top designers and artists, coupled with selective distribution, ensure Bottega Veneta's premium positioning. - Consumer Engagement: Emphasizing personalized experiences and craftsmanship to build strong emotional connections with customers. - Adaptability: The brand's ability to navigate crises and invest in digital infrastructure has reinforced its market position. These insights reflect Bottega Veneta's dedication to preserving its unique identity while innovating in a competitive luxury market. #FTLuxury #BottegaVeneta #LuxuryFashion #Sustainability #Fashion #FashionInnovation #Marketing #Exclusivity
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Elle Hill
The human that left me with the most powerful takeaways was the CEO of Prada Group, Andrea Guerra, the first session of the day at the FT Live 20th Annual Luxury Summit in Venice. One of the most important things he said was “being credible to that group of consumers that are your long-term backbone” is the core of everything you must focus on. “There are no tactics. There is no short -erm. Only focus on long-term.” Importantly, as we all consider how to attract the younger consumer with a focus on Gen Z (Daniel Ceballos this one's for you!), he shared his observation that “younger generations want to know what we think, our opinions on certain subjects“. The challenge here is that you have to be willing, able, and capable of communicating this to your target audience effectively. And online. Where they will first encounter you. That largely means understanding where your target audience consumes information, by what and by whom they are influenced, and how to tell your story on those platforms. And this includes B2B businesses! This requires skills many, or I dare say most, businesses in the diamond and jewelry industries have not yet mastered. More tomorrow on the other nine(!) sessions I attended today as well as the amazing gala dinner at Cipriani. #FTLuxury
3610 Comments -
Edahn Golan
Mother’s Day sparked a promising trend in the jewelry industry this year. With sales surpassing last year's figures, US consumers are showing signs of increased demand. In May, jewelry sales rose by 1.8% year over year, with a 2% increase in average expenditure per item. The Jewelry Index reflects this positive shift, with a continuous upward trend since March. Notably, sales surged by 5% on May 10-11 compared to the same period in 2023. Retailers are also optimistic about the year ahead, as evidenced by the positive outcomes at recent trade shows in Las Vegas. Exhibitors reported heightened buyer demand, indicating a strong market outlook. However, the demand for loose lab-grown diamonds at JCK was subdued, resulting in notably reduced prices. Read more about the latest trends in jewelry sales from Tenoris: [Link to the article](https://lnkd.in/d7j-upjC) #JewelryIndustry #ConsumerDemand #RetailTrends
182 Comments -
Steven Zale
The Jewelry Landscape in USA THURSDAY, 02 MAY 2024, BY BARBARA RODESCHINI According to Altagamma's Consensus 2024, released in November 2023, international macroeconomic uncertainty and volatility rising inflation, high interest rates, geopolitical tensions, price increases and the declining purchasing power of middle and high-end consumers – have led to a moderate market growth forecast for 2024. To be precise, the hard luxury segment - jewelry and watches - will maintain a positive trend with jewelry, still considered a safe haven and investment asset, at +5.5%, and timepieces, also seen as capitalization opportunities, especially for rare and hard-to-find models, up 3.5%. On the market front, the analysis shows that the U.S. will experience a slowdown in growth at +2.5% due to the effects of inflation and traditional Election Year uncertainties, while Latin America will have a better progression at 3%, with Mexico benefiting from exports due to the favorable exchange rate. Almost six months later, the scenario has slightly changed: the ghost of inflation has become less dangerous with the Personal consumer expenditures price index rising 2.4% year-on-year in the United States in February, slowing from December's +2.6%, and forecasts envisage a year under the banner of moderation, as Luca Solca, Senior Research Analyst, Global Luxury Goods at Bernstein, explains: «We expect a FY24E in the name of moderation, but with a soft landing trajectory. Despite market fears, 2023 ended with a re-acceleration compared to the summer. The comments we are receiving on current trading in 1Q24E are constructive, despite the difficult comparison basis we had in 1Q22.» Not only that, the jewelry market has proven to be more competitive than luxury accessories. «On the whole, I expect jewelry to be one of the most dynamic categories - also due to less vigorous price inflation than leather goods in recent years,» Solca continues. «In other words, consumer jewelry has become a more convenient buy than handbags because brands like Cartier, for example, have raised prices much less than Chanel or Dior. The U.S. is one of the markets where demand continues to be robust also supported in recent months by a sharp drop in inflation.» In an election year that, on 5th November, will see Joe Biden challenge Donald Trump for a second term, caution is to be expected in light of the two candidates' divergent foreign policy positions. And while the age of the Democratic candidate gives cause for concern, a second presidency of the Republican Tycoon is seen as worrying, especially by Europe. «The presidential election will not, in our view, weigh heavily on the performance of the hard luxury sector. A possible re-election of Donald Trump is of no concern: in 2016 his victory marked a strong economic boom,» concludes the Senior Research Analyst.
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David J. Katz
One day after EssilorLuxottica announced its deal to acquire Supreme from VF Corporation, Meta, Facebook's owner, is in talks to acquire a stake of about 5% in the eyewear company. Based on recent market value, a roughly 5% stake could be valued at around $5 billion, a relatively small for Meta, given its market value of around $1.2 trillion. EssilorLuxottica makes Meta's Ray Ban smart glasses and sales of the glasses have exceeded expectations. The devices, an important part of Meta’s hardware strategy, allow users to take photos and listen to music with the frames of their glasses, among other features. Maintaining ties with Luxottica is crucial for the success of smart glasses devices and the company’s ambitions to build the so-called metaverse, which is a term used to describe people interacting in a 3-D version of the internet simultaneously. A third generation of Ray-Ban Meta glasses, expected to include a small screen display, is expected to be ready for consumers in time for the 2025 holiday season. The allure of Luxottica’s Ray-Ban brand is important to the success of a tech device that users are expected to wear on their faces. Luxottica’s ownership of LensCrafters, the prescription-eyewear retailer, also plays a key role in selling the Ray-Ban Meta to users who require prescription lenses. The two companies began working together several years ago for the release of the first generation Ray-Ban Stories smart glasses, which went on sale in 2021. The initial device struggled to catch on with consumers, and among the glasses that were sold, only 10% of the Ray-Ban Stories were actively used by their purchasers. The second-generation Ray-Ban Meta glasses went on sale in September and have done significantly better than their predecessors. The Ray-Ban Meta glasses operate more quickly and have better cameras than their predecessor. The Ray-Ban Meta also includes nascent generative #AI technology that allows users to ask the device for information about the things in front of them, such as the breed of a cat. The Ray-Ban Meta glasses have proven popular for users who want to shoot hands-free videos of their children playing and first-person videos of themselves while going on roller coasters or riding bikes. Meta hasn’t said how well the Ray-Ban Meta glasses have sold, but CEO Mark Zuckerberg said in April that the device was doing well and that a market for that type of device was developing sooner than he would have expected. Meta sells its own devices to employees at a discount, and offers the Ray-Ban Meta glasses at a 15% discount with a limit of 3 pairs per employee. The new glasses have proven so popular internally that some employees have tried to get extra pairs from their colleagues after hitting the 3-pair limit. #strategy #technology #smartdevice https://lnkd.in/ePwG-bSc?
221 Comment -
Diego Valisi
Do your image searches remotely with Milano Fashion Library From June, not only will you be able to purchase or consult 70,000 fashion publications at our headquarters or on our website https://lnkd.in/dPX3G_d, in fact it will be enough to contact us by email or via WhatsApp indicating the topic of a desired search and your times to receive the images that are useful to you and, automatically, we will produce a quick quote tailored to your needs. Once approved, in just a few days you will be able to obtain all the images found in digital format directly at your offices. The searches can cover: - Photographic shots - Editorial articles - Advertising campaigns - Brand stories - Product stories - Trend moodboards Reconstruct the history of brands, their products, or their communication to give them the right value and heritage. These actions are very appropriate on occasions such as: - Buying and selling of brands - Copyright protection actions - Company anniversaries or to create moments of inspiration for style offices or in the process of designing events, exhibitions, and advertising campaigns. For information: WhatsApp service: +39 3756655712 https://lnkd.in/dPX3G_d #fashionimage #fashionmagazine #fashionresearch #fashiontrend #fashionlibrary #fashionbrands #fashionadvertising
62 Comments -
Jay Moore
Let's focus on the keyword 'revenue'. Brunello Cucinelli is renowned for its timeless, beautifully crafted pieces. A denim shirt will cost you about $1,150, while a hoodie comes in at around $1,800. Q1 is typically slow for sales after the holiday rush of shopping. Despite this trend, the brand managed to increase its revenue by an impressive 16.5% coming out of Q4. While there could be various contributing factors, my hunch is that supply chain savings played a significant role in this growth. Supply chain savings don't materialize overnight; they require meticulous planning. It's a long-term game, and these savings may not be realized until 12 months after the initial strategy meeting. Obviously, there are things you can do to see somewhat immediate savings, but double-digit increases require strategic thinking and long-term planning. Oh, and quiet luxury is here to stay!
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Pircha Leather
🌟 Exploring the allure of quiet luxury in fashion – it's not just a trend, it's a timeless aesthetic that speaks volumes. Dive into the world of elegance and refinement with brands that prioritize craftsmanship and quality. 👜 From clean lines to subtle details, quiet luxury exudes sophistication without the need for flashy branding. Discover how this concept has stood the test of time, resonating with those who appreciate classic design over passing trends. 🔍 Find out more about ten iconic brands that embody quiet luxury, setting the standard for understated elegance that we'll treasure for years to come. Embrace the philosophy of quiet luxury and elevate your style with pieces that speak volumes in their simplicity and sophistication. #QuietLuxury #TimelessElegance https://lnkd.in/ed3WaPVs
11 Comment -
Jean-Jacques Viau
Brunello Cucinelli just launched the beta version of an AI-aided website: brunellocucinelli.ai From a public relations perspective, it is great to see them pioneering the use of customer-facing AI and establishing a bridge between AI and their humanistic values. However, I find the user experience not up to my expectations: ▶ The navigation is close to what you typically do with Canva and much less immersive than well-designed Flash-based websites: no zoom in and out, no gamified menu or explorative environment as in a game. I would have expected something like that spontaneously. ▶ The AI is not very engaging! It answers in a definitive manner and prompts articles but doesn't add personal remarks like asking if the answer is sufficient or if there's anything else it can help with. The personal touch in communication that text-generating AI users are familiar with is missing. ▶ The site is similar to an AI-powered company wiki. It does not seem to contain new information compared to brunellocucinelli.com, which is still available. Even if it is a lot of data, it is hardly sufficient as a learning base to obtain new tailor-made information. ▶ The site covers only corporate information but doesn't provide any assistance regarding products and product selection. That is such an evident use case for a clothing company that it is frustrating. I am sure that everyone's first query will concern clothes! Honestly, you do run out of questions about humanistic capitalism and the history of Mr. Cucinelli. On the positive side, once you get results, the site is very engaging, and you will stay there for a long time. How do you like the website? Do you have any other examples of open websites using prompts to navigate?
64 Comments -
Entrepreneur Middle East
"It is very challenging to replicate success by looking at only doing what you did in the past." Etro CEO Fabrizio Cardinali discusses his thought process behind revamping the Italian luxury fashion house: https://lnkd.in/dvU9M6aa #entrepreneurs #growingabusiness #growthmindset #fashion #luxuryfashion #leadership #leadershipskills #brands #brandmanagement #successstrategies #business
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Elle Hill
Attending the FT Live Luxury Summit in Venice was like reading the financial times, but with a hyper-focus on our sector and with the benefit of curation, discussion and perspective. Sure, you can get all the information by reading the sheets. But here, all the topics that impact our sector most are shared and discussed in a room full of the CEOs, whose opinions about the topics you would like to hear, challenge, debate and learn from. The audience and the panelists is where the most value lies in an event like this that, by the way, was delivered with precision and excellence at every turn, as luxurious as its focus market. Top 3 takeaways: 1) Become a member of the community you serve. Authenticity and integrity are integral to luxury success. It is everything. You cannot fake it. And you must be able to communicate clearly to your audience - which means always staying close to and learning from your core customers, consuming what and where they consume and contributing there. 2) ‘Slobalization’ is what you see in those decreasing numbers. Global markets are normalizing not receding after the post-pandemic buying frenzy. Japan and US are still the strongest and most appealing markets for luxury. China is slowing but it is still one of largest markets with the most growth potential. 3) AI is a tool for humans to use. Not a threat. like most technology, reactions are alarmist at first. To leverage it efficiently, you must learn new skills and methods to optimize the efficiencies it can create. If you don’t learn how to use it, it may make you less qualified than another candidate for your role. #FTLuxury
174 Comments -
Federica Carlotto
Last weekend, the 2024 Gamma Global Fashion Management Conference (#GCFM) at the University of Milan presented a rich line-up of studies by scholars from over 43 countries. It was an honour to contribute with my research on the integration of #NFTs in #luxury brand and #art collaborations. My deepest thanks to the organizing committee, partners and sponsors, volunteers, the sessions chairs, and my fellow speakers for sharing their the state of the art #research. Here below some takeaways of the sessions I assisted to: 💡 The 'eye of the beholder' is key when planning #luxury brand and #art collaborations - consumers' fashion capital (prior knowledge and expertise in fashion) shapes their cognitive and affective responses towards artified luxury products - activating art players familiar to a specific geo-cultural market leads to localisation strategies that eventually generate a stronger, meaningful brand equity 💡 The nuanced impact of #technology on luxury and fashion - luxury consumers appreciate tech-enhancement on peripheral services or aspects of luxury products, but they eventually seek the human-ness of products (this includes both millennial consumers and Gen Zers) - The emergence of digital celebrities generates a very fluid and non-linear environment in fashion communication, with these new players challenging traditional hierarchies and the supremacy of established insiders 💡 #Sustainability has become integral to any luxury and fashion proposition: how to manage its #communication? -We need to carefully consider how concepts are understood in different languages and cultures - Crafting a clear and transparent communication, however, needs to go hand in hand with the quality of the luxury products, as consumers trust claims about sustainability only when perceiving that the high standards or attributes of luxury are anyway maintained 💡 Keep an eye on "quiet" and "mindful luxury"! - “#Quiet #luxury” is a business proposition, an aesthetics, a SMNs hype. It is high time we examined the concept in all its semantic semantic areas – from hyper-exclusivity to sustainability. - When we are less present to ourselves, we tend to spend more, and usually for products with high brand prominence (e.g., visible and flashier logo). The creation of a sensorially #mindful retail space/services can deeply influence the items and how we purchase. To be continued...
463 Comments -
Brett Mathews
SILK, FASHION AND EMOTIONAL DURABILITY: For the summer-autumn edition of Natural Fibres Insight, we interviewed Cosetex, an Italian business with roots in the silk industry dating back to the late 19th century. We caught up with silvio mandelli, CEO of Cosetex. Cosetex began by collecting discontinuous silk materials from local reeling mills in northern Brianza, Bergamo, and the Milan area. The sustainability of silk is a subject Mandelli is passionate about. "Silk is undoubtedly a sustainable fibre. It is eco-friendly, fully degradable, and part of a circular production cycle," he told Natural Fibres Insight. “Mulberry tree plantations, essential for silkworms, enhance natural ecosystems and biodiversity without requiring fertilizers or pesticides.” Interestingly, younger generations are now recognising the value of silk, especially its sustainability. Mandelli cites a survey by the International Silk Union, noting: "Many Millennials associate silk with responsible consumption, slow fashion, and high emotional durability." Cosetex has also conducted its own Life Cycle Assessments (LCAs) on silk production. “Mulberry tree cultivation captures significant amounts of CO2, contributing to a reduction in greenhouse gases,” Mandelli explains. The LCAs reveal that the mulberry trees used in silk production absorb 81,650 kg of CO2 per hectare per year, a substantial contribution to combating climate change. The next edition of Natural Fibres Insight, including the full interview, is out in July. Our story: https://lnkd.in/g--NuUj2
969 Comments -
Martin Rapaport
Synthetics will dominate bridal in 2024 and the collapse in 2025 when brides figure out they have been ripped off. Synthetic diamonds will go the way of CZ. Retailers who sell synthetic diamond engagement rings for huge profits will have to answer to brides who see their thousand dollar engagement rings offered for sale at WalMart for hundreds or even tens of dollars. Real natural diamonds will return as the ultimate gift of commitment because they are valuable as is the marital relationship. Millennial women in their thirties are not interested in tinder experiences. They want stable long term relationships and the opportunity to have children with men they love. Men also want loyalty, love and commitment. The synthetic engagement ring trend will blow away as will the jewelers selling them. Marriage is not a one night stand. Engagement rings are not costume jewelry.
12661 Comments -
Lanita Layton
It would be such a loss if the artisanry that this area is known for can’t survive . Great to hear of the pivot that some are making to creating their own limited edition items, or working with smaller emerging brands etc. Let’s hope this will create new opportunities and innovation, including optimizing the quality/value of their production. The concern right now however is what is going to happen with the goods that were cancelled by the “big brands “ that are filling the warehouses at present.
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Como -
Laura Lanteri
Controller and Compliance Officer at Società Italiana Gestione Crediti SpA
Rome -
Laura Lanteri
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Milan
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