Eyeing Luxury Market Growth
Patrick Chalhoub, co-CEO of The Chalhoub Group, talks about the region’s luxury goods market and vision for the future.
May 23, 2012 3:22 by kippreport
How do you choose a brand that you want to work with?
It is a complete alchemy. Initially, our teams travel all over the world to see what is happening in the world and to see if we can get it into our market. So, as market leaders we always try to stay ahead of the curve. Then, also due to our position, we are often contacted by the brands and we filter as to what is the most appropriate brand for us to work with. The most important aspect is, of course, that a brand has to offer us something and it’s not looking at only the sales-driven experience, because often we have brands where you could milk the cow. It’s not that what interests us, it is not what drives us. What drives us is to see if there is anything within the brand, a twist, a belief, a passion, an investment that will make this brand different or more adapted to our part of the world. And can we add value to this to develop it. If this is the case, then [we’d] definitely invest.
You have a very big portfolio of brands. How do you do justice to each?
I always say that we are not all a collector of brands. I always think that we have only one possible brand on which to work, which means that we have very strong and dedicated teams by franchise and brand; they breathe, think, live and promote the brand.