PERSONALLY YOURS
Savoir-faire, craftsmanship and heritage are no longer the magnets of luxury brands. Now the gilded edge for VVIPS lies in meaningful bespoke and exclusive experiences that are not replicable elsewhere, discovers Annabel Tan
There was a time when having a heritage that spans generations and a traditional craft pedigree were enough to evoke desire for a luxury brand. But these are no longer key factors to consumers in terms of bestowing status and commanding premium pricing.
Heritage and history ranked sixth in importance – after superior quality, customer service, design and craftsmanship as well as exclusive products, according to results from the 2019 State of the Luxury Industry survey, which was conducted across seven major global markets by luxury and premium goods and services consulting firm The Luxury Institute.
What has become truly important to luxury consumers are brands that have created value for them in the last 24 hours, the survey concluded.
With global high-net-worth wealth surpassing a record US$70 trillion in 2018, according to Capgemini’s World Wealth Report 2018, there is more opportunity than ever for luxury companies to strengthen their relationships with their clients. To do this, it is increasingly important for them to nail down a point of difference in their approach, where a product or service goes beyond being merely a status symbol, to making today’s ultra-wealthy consumers feel extra special.
MADE TO MEASURE
To Loh Lik Peng, whose Unlisted Collection group of boutique hotels and restaurants is known to evoke heritage and a sense of joie de vivre, the fundamentals of luxury haven’t changed.
“I think people still view luxury as something that is rare and exclusive, but not necessarily something that is showy or flashy,” he explains. “Ten years ago, everyone was into the handbags with ginormous Louis Vuitton and Gucci logos. Then it became a bit crass. People started to feel that this is not luxury, but really just a brazen sort of mass consumerism. I think it’s a pushback against this mass consumerism that has led to a change in taste and a more discreet show of wealth.”
Customisation, he says, is a way of ensuring an element of exclusiveness. At The Old Clare Hotel, his hotel in Sydney, staff will find out as much as they can about a guest before he or she checks in by looking them up online and scouring for public information on their likes and dislikes. The information is then used to personalise the room and its amenities. “The hotel will put something in the room that will delight and surprise the guests, such as your favourite chocolates or a picture of your dog if you have one,” Loh says.
Paul Harris, Asia-pacific Regional Director at RollsRoyce Motor Cars, foresees that “true luxury will be measured in terms of rarity, and defined by individuality – to be able to own a one-off creation that defines an individual, a possession that no one else has”.
At Rolls-royce, a customer can get anything from bespoke touches to a complete made-to-order vehicle. In 2017, a millionaire – whose identity has remained a mystery to the public – ordered a completely coach-built two-seater coupe with a panoramic glass roof that was inspired by his favourite Rolls-royces of the ’20s and ’30s. To date, the one-off US$13 million Sweptail is the world’s most expensive car to be commissioned from scratch, and “the automotive equivalent of haute couture, hand-tailored to fit a specific customer”.
Harris says: “This is where Rolls-royce truly shines; we have the ability to create a car that reflects its owner to the highest degree. The art of coach-building faded into oblivion as the mass production of cars reached its peak. Today, we are seeing a resurgence in the art and Rolls-royce is at the forefront of this movement.”
Taking its concept of a smooth customer journey to new heights, Bombardier Business Aircraft has shored up its bespoke aircraft refurbishment with seamless after-sales service, ensuring that everything, from aircraft purchase to maintenance, is effortless for its customers. Vice-president and General Manager of Customer Experience Jean-christophe Gallagher, in Singapore recently for the unveiling of Bombardier’s expanded Singapore Service Centre, says with confidence: “Unlike buying a car, you can buy a Bombardier plane, get it delivered here from Montreal the following day, and be at Australia’s Gold Coast the day after.”
One of the most tedious parts of jet ownership is maintenance, and Bombardier addresses this pain point by not only having nine service centres worldwide, but also mobile units that can reach customers anywhere in the world and turn a plane around in 24 hours.
EPHEMERAL EXPERIENCES
In luxury travel, extravagant accommodations and glamorous destinations have made way for more immersive, adventurous experiences. Arnaud Champenois, Senior Vice-president of Global Brand and Marketing Communications at luxury hotel
and travel company Belmond aims to transcend the traditional confines of travel and enrich travel for discerning customers by offering “exciting, never-been-done” experiences.
Last year, Belmond teamed up with the London Philharmonic Orchestra for a series of one- off performances at various Belmond hotel locations. From Sicily to Brazil and Africa, guests could enjoy the music in some of the most scenic natural settings in the world, amongst the seas, mountains, waterfalls and trees.
“Our guests are hyper-connected and are looking to connect with what matters most in life. They are exceptionally successful high-net-worth individuals and stylish world citizens who appreciate the art of good living and seek inspiring locations where genuine connections are made and inspiring stories unfold,” says Champenois.
These once-in-a-lifetime experiences are just as important for Italian watchmaker Panerai. Its CEO Jean-marc Pontroué says: “Studies show that the experiential side of the market segment is the biggest growth driver right now. It has become more and more important to offer customers additional value that helps to create an emotional bond between the brand and them.”
Panerai unveiled three special editions of watches at the Salon International de la Haute Horlogerie luxury watch fair in Geneva this year – each of which will allow its owner a unique experience with Panerai. The 15 people who acquire the Panerai Submersible Chrono Guillaume Néry Edition will be invited on a diving and whale-watching trip with French freediving champion Guillaume Néry in his hometown of Moorea in French Polynesia. Similarly, the 33 owners of the Panerai Submersible Marina Militare Carbotech can participate in a training session with COMSUBIN, the Italian navy’s Special Forces, while the 19 new owners of the Panerai Submersible Mike Horn Edition can go on an intense, oncein-a-lifetime expedition with legendary explorer and Panerai ambassador Mike Horn among the ice floes of the Arctic.
EXCLUSIVE SPACES
Commercial airlines are also stepping up their game, by taking First Class lounges to the next level. Air France’s La Première lounge at Paris- Charles de Gaulle has a dedicated private check-in salon, fi ne dining by renowned chef Alain Ducasse, and a wellness centre offering spa treatments with products from French luxury brand Biologique Recherche. La Première agents also greet guests upon check-in and arrival, and escort them to either the lounge or a connecting fl ight.
For Lufthansa First Class passengers, there is not just a lounge, but an entire First Class Terminal in Frankfurt Airport that is separate from the main terminal. Here, high flyers can go from check-in to immigration and then be driven by limousine or minivan to their planes. The swanky space also boasts a cigar lounge and a bar stocked with more than 130 varieties of whisky.
Luxury retail brands have long held the aces on creating exclusive spaces for their top clients. Cartier, for instance, recently unveiled Le Salon Cartier, a private space that occupies the entire third floor of the maison’s flagship boutique in Singapore. Plush sofas, a dining area, cocktail bar and even shower facilities in the apartment-like space evoke “a home away from home”, says Jérôme Metzger, Regional Managing Director of Cartier sea & Oceania.
“It is the tradition of the maison to create intimate and extremely private experiences,” says Metzger. “Le Salon Cartier gives us an opportunity to value our discerning clients for their appreciation towards Cartier.” Among the boutique’s reopening activities, the brand feted its top vips to an exclusive dinner in Le Salon Cartier’s apartment-like premises, where they enjoyed first viewings of rare Cartier Collection museum pieces of incredible provenance ahead of an exhibition.
Undoubtedly, brands that offer such unique touches go further in the eyes of the high-net-worth customer. “Coming from this high level of service, we have tried and tested values we stick to,” says Loh Lik Peng. “We try to go the extra mile, because it provides a human touch, which people still like. And as long as we can sustain that, we will.”
“LE SALON CARTIER GIVES US AN OPPORTUNITY TO VALUE OUR DISCERNING CLIENTS FOR THEIR APPRECIATION TOWARDS CARTIER”
— JÉRÔME METZGER