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Luxury Industry Analysis

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Luxury Industry Analysis Fashion & Luxury Category Analysis! Lauren Clark" Luxury Service! • Superior customer relationships and dedication to the customer" • Normally high price points" • Examples: concierge service, " Sotheby’s" • One of the world’s top auction companies for fine and decorative art, jewelry, and collectibles" • Offers antiques, ethnographic art, furniture and decorative art, jewelry, literature, paintings, sculptures, drawings, wine, etc." Sotheby’s- A Brief History" • 1744- Founded in London • 1977- Publicly traded company when Samuel Baker auctioned in the UK" several books from Sir John Stanley’s library" • 1983- Group of investors acquire Sotheby’s and take it • 1955- Opened first store in back to private company" New York" • 1988- Back to publicly traded • 1964- Acquired Parke-Bernet, company" America’s top fine art auction house" • 1988- First international auction in the Soviet Union" • 1973- First auction house to hold sales in Hong Kong" • 2007- First international auction house to hold a sale in Russia" Sotheby’s Record Breaking Sales" • 69.42 carat diamond ring sold to • Sue, the largest and best-preserved Cartier for $1.1 million in 1968" T-Rex, sells for $8.3 million in 1997" • Vincent Van Gogh’s Irises sells for $53.9 million in 1987" • Sale of art and décor from Gianni Versace’s home in Miami totals • A first printing of the Declaration $10.2 million in 2001" of Independence was sold for $2.4 million in 1991" • Pablo Picasso piece of art sold for $104.2 million in 2004" • Property from the estate of Jacqueline Kennedy Onassis • 24.78 carat pink diamond sold for brought in $34.5 million in 1996" $46 million in 2010" Sotheby’s Global Presence" 90 locations in 40 countries" Luxury Jewelry" Egyptians began working with gold 3,000-5,000 years ago" Greeks started using gold and gems in jewelry in 1600 BC" Byzantine Empire used light-weight gold leaf and placed emphasis on stones and gems" People in India were creating gold earrings and necklaces by 1500 BC" Luxury jewelry began in Central and South America 5,000 years ago" Harry Winston" • Harry Winston Diamond Corporation is a diamond enterprise with assets in mining and retailing segments" • Harry Winston Inc. is the company’s luxury brand segment that sells premier diamond jewelry and timepieces" Harry Winston- A Brief History" • 1932- Harry Winston founded • 1958- Harry Winston Harry Winston Inc." donated the Hope Diamond to the Smithsonian Institute" • 1935- Bought 726-carat Jonker diamond for $700,000" • 1978- Harry Winston died" • 1949- Bought the Hope Diamond • 1986- Beverly Hills salon for $1 million" opened" • 1949-1953- Court of Jewels • 1989- Launched Winston’s traveled across the US" Ultimate Timepiece Collection" • 1955- Opened first salon in Geneva" • Today- 19 luxury salons worldwide and more than 190 • 1957- Opened salon in Paris" global distribution points for timepiece line" Harry Winston- Brand Architecture" • Mining" • 40% ownership interest in Diavik Diamond Mine" • Diavik Diamond Mine is largest in Canada and produces some of the highest-grade diamonds in the world" • Retailing" • Harry Winston Inc." • Premier diamond jeweler and retailer of timepieces" The Diamond Pipeline" The “Incredibles”" 8 luxury salons in US and 11 overseas" Harry Winston Recent Marketing" Luxury Hospitality" • Commitment to customer service" • International business travelers in 50s and 60s created growth in Europe for luxury hotels" • Cesar Ritz coined the phrase “the customer is always right”" The Ritz-Carlton" • One of the world’s leading luxury hotels" • Global reputation for setting the standards of award-winning luxury hotels" The Ritz-Carlton- A Brief History" • 1898- Cesar Ritz opened the Ritz • By 1990- 28 Ritz-Carlton hotels Hotel in Paris" across the globe" • 1900’s- Creation of The Ritz- • 1992- Won the Malcolm Baldrige Carlton Management Corporation" National Quality Award" • 1910- Ritz-Carlton opened in New • 1995- Marriott bought 49%" York" • By 1998- Marriott owns 99%" • 1918- Cesar Ritz died" • 1999- Won 2nd Baldrige Award" • By 1950- Philadelphia, Montreal, & New York hotels had closed" • 2000- Introduced Residences at The Ritz-Carlton & The Ritz- • 1983- William Johnson purchased Carlton Club" rights to Ritz-Carlton name & the Boston hotel" The Ritz-Carlton Locations" 76 hotels worldwide in 25 countries" The Ritz-Carlton Brand Architecture" Residences at The The Ritz-Carlton Club" Ritz-Carlton" The Ritz-Carlton Marketing" • “Let us stay with you” instead of “Please stay with us”" • Creating experiences and building memories that will last longer than a fluffy bathrobe" • Let us make a drink in your honor, let us paint the sky with your favorite colors, let us introduce your kids to loggerhead turtles, etc." YouTube Video".
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