Technology and the luxury sector – challenge or opportunity?
Last night Kemp Little LLP, the leading technology and digital media law firm, hosted a lively networking event for the luxury brand sector at the… Read more
Last night Kemp Little LLP, the leading technology and digital media law firm, hosted a lively networking event for the luxury brand sector at the Condé Nast College of Fashion & Design. The evening saw a fascinating mix of traditional luxury brand owners, online fashion businesses, disruptive technology companies, investors and consultants debating the effects of technology on the sector and the challenges and opportunities it presented.
The event, organised and hosted by Kemp Little, was introduced and moderated by Glafkos Tombolis, head of Kemp Little’s luxury brands group, and started with a keynote address by Susie Forbes, principal of the Condé Nast college and former deputy editor of Vogue. Following Susie’s talk were short presentations from the following luxury sector representatives:
- Jessica Nesbitt and Alison Conway, Labelux
- Lara Mazzoni, Bodi Me
- Crispin Jameson, Brave New World
- Manish Madhvani, GP Bullhound
Around 100 people listened to the panel discussion and asked questions such as: “how do brands cope with the blurring of lines of traditional marketing and promotional functions?”; “when will mobile overtake other sales channels?”;”how do brands tap into the ultra-high-net-worth audience when they have virtually no digital footprint?”; and “how can you replicate an exclusive, personal service to online channels?”. Following a lively discussion, Susie’s final comment was that: “if luxury brands are to survive, they need to be agile and alert to changes and developments to tomorrow’s technology that we can’t even begin to anticipate today”.
Guests then made the most of the opportunity to network and enjoyed mojito cocktails and canapés on the college’s outdoor terrace.
Commenting on the evening, Glafkos Tombolis said: “this truly eclectic mix of the world’s leading luxury brands, fashion start-ups, technology innovators and advisers to the industry shows that technology, and how to exploit it, remains the burning issue for the sector. Disruption and transformation is leading to exciting times for both businesses and consumers but is also posing great challenges and risks for those not innovating. We’ve heard how some brands like Burberry have really grasped the opportunities and how some other famous brands are refusing radically to change the way they operate and sell and, as a result, we may well see their relative decline”.
Kemp Little is a leading technology and digital media law firm. We are ranked in the top tier for commercial and corporate IT advice by the leading legal directories and praised for our outstanding client service and commercial awareness. Our knowledge and specialist expertise goes deeper than most other firms and this sets us apart. Our clients value us for our pragmatic, responsive and cost-effective advice.
We work with many luxury brands, companies in the FTSE 100, Fortune 100 and Sunday Times Tech Track 100 plus fast-growing innovative businesses maximising the benefits of technology. We also help many organisations that increasingly rely on technology to deliver their products or services, such as those operating in the retail, professional services; financial services; travel and healthcare sectors. Our understanding of these sectors, coupled with our technology focus, makes us the first port of call for many leading businesses in these areas.
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