luxurysalesacademy-blog

[luxurysalesacademy-blog]

We all love experiences. Especially those, which are vibrant and rare. Amber Lounge is a place where world-famous superstars, wealthy business people, and Formula One racing drivers gather around to have fun and to support important social causes. ​Friends of Amber Lounge are Virgin's owner Richard Branson, celebrity chef Gordon Ramsay, socialite Kim Kardashian, princess of pop Kylie Minogue, singer Elton John, supermodel Naomi Campbell, F1 champion Lewis Hamilton, pop star Justin Bieber, playboy playmate Pamela Anderson, and many other special guests. Amber Lounge is the place where people can meet superstars, royalty, jet-set, supermodels, film stars, business leaders, entrepreneurs, and many others. 

[luxurysalesacademy-blog]

The Principality of Monaco is one of the most fascinating places in the entire world. It has the largest density of billionaires and millionaires, hence, superrich, which are typically called ultra-high-net-worth individuals (UHNWI). For centuries the principality was the entertainment hub for European royals, aristocrats, and businessmen. Prince of Monaco Charles III, Duke of Valentinois founded the famous Monte Carlo Casino in 1863. But the original idea came from Princess Caroline. Hotel de Paris was opened one year earlier in 1862. The principality was almost going bankrupt but clever ideas saved the principality's economy. Since then, the economy has boomed. Nowadays Monaco lures wealthy people from all around the world: from the United States of America, China, the Middle East, India, Africa, and Russia. If you want to see some style and glamour, then the French Riviera, Cote d'Azur is your place to be. 

[luxurysalesacademy-blog]

Ibiza is a small island in the picturesque Mediterranean. The island belongs to the Kingdom of Spain and is not far away from Spain's east coast. The island is world-famous because it is a party destination. It was actually in the 1960s when members of the hippie movement decided to move there permanently. Some people visit Ibiza quite often because they want to space their ordinary lives. Well. Who to blame? Ibiza is also protected by UNESCO as a world heritage destination. ​

[luxurysalesacademy-blog]

As an English speaking market, it is easier to business and to analyze current events and opportunities. However, India does not have an official language but English is one of the most popular languages and it is the main business language. India is also a member of the Commonwealth of Nations, which makes it even more lucrative because it shares certain values with a large community by being a business-friendly country and a predictable marketplace. 

[luxurysalesacademy-blog]

Gucci took the first bold step by luring Millennials with its quirky collections and they were major successes. But Gucci has always been extra bold and it was not perhaps an unexpected move from the brand. But when Louis Vuitton, Chanel, and Burberry followed the same creative spirit, this was a big change. The spirit is very liberal, playful, colorful, rebellious, perhaps even chaotic. But young generations like it. 

[luxurysalesacademy-blog]

The digital revolution and the major change in buying behaviour plays a major role in market confusion because there are multiple buying channels for consumers. Luxury brands have their own shops and e-commerce sites. There are also wholesalers in brick and mortars and online as well. There can be situations when pricings are not well coordinated but this should not be a challenge for luxury brands.

[luxurysalesacademy-blog]

Laurea University of Applied Sciences arranged The Mark Challenge Finland Partial Race on the 30th of January in Finland. This was the second time in a row when Laurea organized the competition for master's business students. This year's competition was versatile because during this year's competition it is possible to create products as well. In 2018, students had to create services only.

[luxurysalesacademy-blog]

The internet and digitalization have created a new boom for the luxury industry because website technology has developed rapidly by providing the possibility to showcase pictures, videos and other visuals with high quality. The internet provides a cost-efficient way to raise global awareness and brand lovers have a low threshold to approach various brands. 

[luxurysalesacademy-blog]

So the new Burberry is finally here. During last Summer, my article concerning the iconic British brand received lots of attention. Some people said that they liked the old logo and patterns but others said that it was Burberry's last chance to make some adjustments, hence, to renew herself. We have seen from the end result that changes were not so radical. Well. They can never be because "a brand's soul" must be orderly protected but refreshed at the same time. 

[luxurysalesacademy-blog]

Cambridge is a historical city and it is famous for its world-class education. Both universities, the University of Cambridge and Anglia Ruskin University, are very familiar and close to me because I have attended to entrepreneurship lectures at Judge Business School and received my master's degree, MA in Marketing and Innovation, from Lord Ashcroft International Business School, Anglia Ruskin University. That is why Cambridge is my second home. The city is open-minded, multicultural, international and it has its own unique community spirit. There is always a positive buzz going on and this makes the whole city exciting.  

[luxurysalesacademy-blog]

You may hear almost all of the time that there is something very disruptive happening in the retail landscape and there are constant revolutions going on. Here are my personal sightings from the great British retail landscape from a ten-year perspective. Britain is a nation of shopkeepers and you can see plenty of shops in British cities, towns, and villages. Shoppers are pampered by a wide range of offerings. Let us go backward in ten years of time.

[luxurysalesacademy-blog]

Department stores are convenient because people can shop almost everything under one roof. Back in the early days, they provided almost everything, literally, almost everything. Nowadays we have seen the rise of independent brand stores, supermarkets, fast fashion brands, e-commerce and many others. This has changed the whole landscape. Department stores are fighting back. Some department stores have always stayed modern and they have quickly adapted to change. While others have stayed comfortable like video rental stores.

[luxurysalesacademy-blog]

Luxury Sales Academy’s new logo by Founder Jukka Aminoff. 

[luxurysalesacademy-blog]

Luxury Sales Academy. Logo by Jukka Aminoff

[luxurysalesacademy-blog]

Monaco is one of the number one destinations if you like to watch marvelous superyachts. The wealthy principality of almost 40 000 inhabitants has one of the best harbors for superyachts because it is large enough to lower anchors. But how do you define a superyacht? Superyachts do not have official requirements but over 25 meter long yachts can be called superyachts. This is the easiest definition. 25 meter long superyachts may sound long but they are not. Khalifa bin Zayed Al Nahyan's Azzam is 180 meters long and it even has its own missile defense system because ultra-high-net-worth individuals (UHNWI) are almost always surrounded by security systems.

[luxurysalesacademy-blog]

Europeans have the permission to celebrate because all most valuable luxury brands in the world are Europeans. But you have to read to the end of this article to see the official rankings. Measuring brand value is a great milestone to evaluate how nicely a luxury brand is performing in the marketplace. Measuring turnover, and especially, increasing turnover aggressively is not the best way to evaluate a luxury brand because a major increase in turnover means that a luxury brand loses its scarcity by making its creations too popular. Luxury brands protect scarcity. Therefore, increasing turnovers is not a priority.  

[luxurysalesacademy-blog]

LinkedIn is one of the best places for luxury experts to connect with each other and to share interesting stories, market data and views. People can have interesting conversations and to expand their horizons. For many people, LinkedIn is also an everyday online coach, which gives valuable advises and inspires to do amazing achievements.