As part of their Leader Interview Series, Luxury Society sits down with Bulgari’s CEO to discuss everything from millennials to e-commerce.
As part of Luxury Society’s Leader Interview Series, a leading name from the industry sits down to discuss market strategies, digital transformations and the key challenges brands face in the industry today. Recently, it was Jean-Christophe Babin, the CEO of Bulgari, to take the proverbial “hot seat”. Mr. Babin shared his thoughts on everything from online engagement (not the wedding kind of engagement) to hiring the right talent to succeed.
During the interview, the CEO speaks candidly about the opportunities and challenges facing the brand in 2017, and how to go about attracting new clients. Part of that comes down to getting investment in media right, especially when trying to reach important markers in China, Russia, Brazil, and the US.
Speaking more about attracting clients, Mr. Babin addressed the ever-present question of how to appeal to millennials. Ranging from 15 to 35 years old, this is a key target demographic for any brand, especially because during that period they reach many milestones for gift-giving; think graduations, engagements, weddings, babies.
The fact that Bulgari produces not just watches, but also perfumes and jewelry, helps them with the millennial demographic and this gift-giving period. That’s because, according to Babin, customers can start at a young age with buying a perfume, which can cost under 100 euros. Eventually that perfume purchase opens the door to other, more expensive luxury products down the line. In other words, perfume is the gateway to luxury.
If you are not already a member of the Luxury Society network, I highly recommend signing up. It’s free and it’s a great way to keep abreast of industry news and to get insights on the future of luxury.