“Luxury orientation needs the whole organisation to understand and embrace it fully”
Titan Company is one of the most successful and valuable lifestyle brands business
in India. As part of their growth strategy, they now looked to climb up the value chain
further and build a strong presence in the luxury end of the market.
This meant two things:
Understanding how luxury works. What drives the consumers but also what it takes to do things differently within the organisation
Building internal capabilities in terms of mindsets, structures, policies and conviction to facilitate change practice.
They invited Val-More to help with both above aspects.
We started with classroom type sessions with the “Zoya” and “Premium/Luxury
Watches” teams at Titan using global case studies to explain the critical codes of
luxury.
We followed this with a very carefully curated weeklong trip to Paris that included
meetings with the top management at some of the biggest luxury houses and retail
stores as well as some smaller luxury brands at various stages of growth. This
helped the teams to not only validate their classroom learning but also witness some
softer elements in play.
The third element of the Val-More intervention included mentoring and coaching the
teams to close the loop, not only to bring their learning into practice but also facilitate
spread of the learning to other team members who could not be part of the earlier
initiatives. This stage is still on-going.
Looking at the success of these efforts and the value of imbibing the “spirit of luxury”
in their premium brands as well, the management decided to enlarge the Val-More
mandate to include larger teams at Titan. We have already started to work with the
Product design, merchandising and supply chain teams as well as the entire People
function leadership team.
Titan deserves credit for recognising the importance of “spirit of luxury” and the need
for the entire organisation to fully understand it even if its implementation may
happen gradually and carefully.
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