Editor’s Letter
THE REFRAIN ‘SURVIVAL of the fittest’ is on a non-stop loop in my mind – it’s a fitting tribute to the theme of this issue, ‘power’, but it’s also an apt analogy for our current situation. We find ourselves in trying times that set the stage for the heroes on the battlefield: who will emerge unscathed and who will perish?
History has a habit of repeating itself and the past has many lessons to offer. During World War I, for instance, the House of Worth – arguably the early 20th century’s most esteemed couturier – transformed its Rue de la Paix quarters in Paris into a hospital. Pierre Cartier, one of the three Cartier brothers who played an indelible role in building the maison’s reputation, utilised his soft diplomatic power to solidify French and American relationships during World War II.
The humanity and support displayed by these brands are echoed in the actions of today’s players. Behemoths such as LVMH, Zegna, Chanel, Ferrari and more have stepped up in the fight against COVID-19 by manufacturing and donating masks, sanitisers and other essential items.
Importantly, what we’ve learnt is that brands that survived the debilitating crises of the past are the ones that have adopted nimble adaptation tactics, without losing sight of their core tenets. Companies such as Bvlgari, Patek Philippe, Vacheron Constantin and Louis Vuitton have faced wars, recessions, the plague and more, and have persevered to become some of the greatest forces in luxury today. Perhaps there is a grain of truth in the saying ‘what doesn’t kill you makes you stronger’.
Many of us have had to rethink, redesign and remould our existing business models – altering our behaviour into the bargain. We might not have the power to fight the virus, but we have the power to change how we react to the situation we are in. Leading CEOs across a spectrum of industries that have been affected by the pandemic – from travel to luxury and beyond – reveal how they’ve had to adapt their business models overnight and how they’ve shifted the narrative from ‘debilitating pandemic’ to road maps and strategies promoting unity, strength and community engagement. Read their thoughts on p.102.
Power, ultimately, lies within: in our minds, in our thoughts; in what we tell ourselves and in what we believe. It also has to be in the decisions that we make on a daily basis. How do we wrest control from a world that’s been turned upside down?
Focus only on what we have the power to change.
Enjoy the issue and stay safe.
Karishma Tulsidas
Editor-in-Chief