In June 2021, SP Jain School of Global Management’s Master in Global Luxury Goods & Services Management (MGLuxM) students attended virtual Power Talks with renowned luxury leaders who shared their personal experiences and offered insights on the luxury automobile and beauty sectors.
Here are the highlights:
LUXURY IN AUTOMOBILES
A Power Talk with Pavan Shetty (Former Director – Porsche India, Lamborghini, Ford and Tata Motors (CVBU)
June 18, 2021
Pavan started his talk by stressing upon the importance of meeting customers at work as “that is exactly where all the learning implements itself”. He shared stories from his journey of setting up the Lamborghini brand in India and also shared insights from his stint at Porsche.
The session continued with a discussion on the luxury automobile business, production/development costs of luxury products, and the lifecycle of a luxury product. He shared that there are always risks involved with premium products and businesses and highlighted the growing need for highly skilled professionals in the luxury sector.
Speaking on what makes the Indian luxury consumer tick, Pavan shared that “Indian customers usually don’t like something in abundance”. They would rather wait than buy a product that everyone owns. In saying this, he emphasised the need for luxury professionals to have a deep understanding of the lifestyle their clientele lead. He added that word-of-mouth is a powerful tool that can build or break a brand in the luxury sector. Therefore, garnering positive word of mouth should be the primary aim of anyone working in the luxury sector.
He concluded by pointing out that to the affluent, what matters most are the experiences that sometimes even money cannot buy.
LUXURY – ALL ABOUT BEAUTY
A Power Talk with Ananya Rajpoot (Influencer & Media Marketing | Luxury Branding & PR | International Speaker including TEDx)
June 25, 2021
Ananya began her session by sharing her concern on the state of the underprivileged in India and introducing students to her latest sustainability project. She spoke passionately of her efforts towards improving menstrual hygiene amongst disadvantaged Indian girls and women, for which she was recognised by UNESCO's global leaders. Students appreciated the effortless manner in which Ananya incorporated humanism into topics like marketing and branding.
Ananya shared with students that she is currently designing courses for women empowerment/talent searching, which she hopes to launch soon across the globe. In 2020, when the pandemic struck, she started a project called ARC, inspired by a neighbour who was an Indian student. ARC helps in branding and profiling students to give them a head-start in the luxury industry.
The Power Talk continued with Ananya urging students to carry an aura of confidence when attending interviews so that companies have no option but to hire them. She shared her views on micro and macro-luxury trends, monitoring digital footprint, local luxury and the impact of COVID-19 on the Indian luxury space. She concluded by adding that when luxury brands market their products, they need to cater to the local community's beliefs and ways.