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Insights of Brazilian Luxury Market Palestra UBIFRANCE

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Insights of Brazilian Luxury Market is a presentation of some characteristics of the Luxury Market in Brazil. Besides, it presents an explanation of the Fashion Luxury.
In the last part of the presentation, you can find an explanation about marketing and finance interface in luxury market, as well as an explanation about the main characteristics a CFO must have in order to work in a luxury company. Actually, it is the subject of my Phd thesis.

Publié dans : Commerce de détail
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Insights of Brazilian Luxury Market Palestra UBIFRANCE

  1. 1. Haroldo Monteiro PHD Candidate ESC Rennes School of Business, Rennes, France Executive Director Planning & Management Consulting Insights of Brazilian Luxury Market
  2. 2. Insights of Brazilian Luxury Market CONTENTS I. Brazilian Luxury Market II. Brazilian Luxury Fashion Market III. Marketing and Finance Interface in Luxury Fashion Brazilian Companies IV. The role of CFO’s personal traits in a luxury strategy
  3. 3. Insights of Brazilian Luxury Market Brazilian Luxury Market • Brazilian Luxury Market Overview • Snapshot of Brazil’s Luxury Consumers • The logic of Luxury in Emerging Markets • Challenges of Brazilian Luxury Market • Who Luxury Consumer is : Behaviors and Consumptions Patterns • Cultural Aspects of Brazilian Luxury Consumers
  4. 4. Insights of Brazilian Luxury Market Brazilian Luxury Market Overview Brazil is a nation whose largest city has more billionaires than Paris, Los Angeles and Geneva. Its economy saw its luxury segment to grow 5% in the last 12 months, well above the GDP performance Source: www.businessluxo.com.br
  5. 5. Insights of Brazilian Luxury Market Brazilian Luxury Market Overview • There are now 52 billionaires in Brazil, and after reaching a record number of 65 individuals in last March’s FORBES World’s Billionaires List • The total wealth of the Brazilian billionaires is down from $186.3 billion in March 2013 to the current $158.7 billion (2014) Source: Forbes • Brazil has 211,593 millionaires – A percentage growth from 2013 to 2014 was 8,9% Source:Wealth Insight • One person in Brazil became a millionaire in every 27 minutes in 2013 . • 78% of millionaires live in São Paulo and Rio de Janeiro Source: Wealth Report 2013 published by Wealth-X
  6. 6. Insights of Brazilian Luxury Market Brazilian Luxury Market Overview Source:Wealth Insight
  7. 7. By Luxury Segment Insights of Brazilian Luxury Market
  8. 8. Insights of Brazilian Luxury Market Automobiles represent 50% of the Brazilian luxury market
  9. 9. Insights of Brazilian Luxury Market Snapshot of Brazil’s Luxury Consumers • 58% are women • 53% live in Sao Paolo • 47% have post-graduate degrees • 33% are age 26 to 35 • 4,700 reals ($2,545) – average ticket price of a luxury purchase • São Paulo has more helicopters than any city in the world • Luxury car sales rose 45% per year from 2005 to 2010* • *Considering Aston Martin, Ferrari, Jaguar, Bentley, Lamborghini, Maserati, Porsche, Spyker and Pagani Source: Mckinsey & CO
  10. 10. Insights of Brazilian Luxury Market Snapshot of Brazil’s Luxury Consumers • GDP per capita in Brazil (195 million people) is almost $ 11,000; • An estimated 30 million people entered the middle class in the last decade; • Unlike Europe and Japan Brazil has only 6.7% of its population over 65 years, mean age below 30 years; • McKinsey estimates that about 3 million Brazilians can afford luxury goods • One third of millionaires is under 35 years; Source: MCKinsey & Co.
  11. 11. Insights of Brazilian Luxury Market Brazilian Luxury Market Overview The strong growth of the Luxury Market in Brazil creates an opportunity for specialized media in luxury Thinking about that, in 2014, the journalist Fabiano Mazzei decided to create a new space for discussion and dissemination of this important business sector: the portal Business Luxury ( www.businessluxo.com.br ) . According to Mazzei, there are on the market today, few vehicles that propose to a specialized coverage in the luxury market business. Inversely proportional is the interest of the media by the lifestyle and the high-income consumer. But why not give due weight to the economic view on this coveted niche?
  12. 12. Brazilian Luxury Market Overview Insights of Brazilian Luxury Market
  13. 13. Insights of Brazilian Luxury Market Challenges of Brazilian Luxury Market
  14. 14. Insights of Brazilian Luxury Market Challenges of Brazilian Luxury Market • Import tariffs need to come down or labels are forced to position themselves at a much higher level in Brazil than in Western markets • Brands such as Topshop and Forever 21, which are considered as “high street” in the UK or in Europe, have to be positioned as affordable luxury in Brazil. • After all the taxes are added on, a luxury product costing $1,000 at the port of entry could wind up with a price tag of $2,300 for a shopper in São Paulo. • Ultra-high import tariffs mean that luxury brands are typically positioned much higher than in Western markets • Social class A consumers like to downplay their wealth because of fears over security • The pessimism with our economy is affecting the consumer confidence
  15. 15. Insights of Brazilian Luxury Market Challenges of Brazilian Luxury Market
  16. 16. Insights of Brazilian Luxury Market Challenges of Brazilian Luxury Market • Brands remain positive about the opportunities in Brazil, although the Brazilian’s Economic forecasts are very pessimists. • While some economists may argue that Brazil missed the window of opportunity, the rise of the middle, or C Class, is evidence of the country’s potential in the global economy, according to a panel session at the 2014 FT Business of Luxury Summit. Economic Scenario can strengthen the share of an aircraft usage "For the CEO of Avantto, Rogério Andrade, need for more agile movement and uncertainty in the Brazilian economic scenario can be positive for the aircraft share market. In the evaluation of the executive, the prognosis is a difficult 2015. But that may end up favoring the decision for acquiring the services of your company. That's because companies and entrepreneurs remain with their demands for displacement maintained, but with less cash to invest in the purchase of an aircraft " Source: www.businessluxo.com.br
  17. 17. Insights of Brazilian Luxury Market The logic of Luxury in Emerging Markets • The recent financial crises of 2008 revealed that luxury industry is not immune to crisis. The crises originated in the financial industry affected the US, Western Europe, and Japan. • Emerging markets are driving global luxury consumption growth, with Brazil the third largest contributor, after China and Russia • “The logic of luxury in emerging markets is a growth story that needs attention and documentation. What intrigues me is how come consumers from Brazil, Russia, India, and China (BRIC) today account for approximately 18-22 per cent of the world’s luxury market? The luxury market is growing at 20-30 per cent in these countries and it is estimated that BRIC will contribute approximately 36 per cent of the global luxury market by 2015 and is predicted to have the largest base of luxury consumers”. By Dr. Ashok Som, Professor of Management and Associate Dean of the ESSEC Global MBA
  18. 18. Insights of Brazilian Luxury Market The logic of Luxury in Emerging Markets • The Chinese luxury consumers want mostly outwardly visible and status-driven products which in the luxury parlance is called the 'logo strategy'. The bigger the logo the more the tendency to show off; more conspicuously demonstrate the products can be consumed • The Indian luxury consumers are different - they are more conscious and probably are probably searching to customize their needs • In Russia, the consumers expect luxury products to have a balance between tradition, modesty, and wealth. And interestingly, Russian consumers usually have been seen to buy goods that have much higher prices than they are ordinarily sold at because they like to show off that they can spend that amount of money for a valuable product.
  19. 19. Insights of Brazilian Luxury Market Who Luxury Consumer is : Behaviors and Consumptions Patterns • They are very brand conscious • Well informed and traveled • They are very familiar with international luxury brands and they care about quality and exclusivity • They are influenced by European culture and style, and by the American casual fashion style and consumption standards. * These characteristics are more common in elite consumers
  20. 20. Insights of Brazilian Luxury Market Who Luxury Consumer is : Behaviors and Consumptions Patterns • Brazilian consumers, long known for being spenders and not savers • Why are Brazilians willing to pay such huge premiums? Because being seen to be rich is an important part of being rich. At one nightclub, for example, when a customer buys a $1,500 jeroboam of champagne, the house music stops and the bottle is illuminated by fireworks. • They love credit: Even brands that won’t consider offering installment plans anywhere else do so in Brazil— consumers demand it. More than 70% of luxury-product sales are credit card installments.
  21. 21. Who Luxury Consumer is : Behaviors and Consumptions Patterns • Brazilian shoppers of all socioeconomic classes are accustomed to payment installments for all sort of different categories, luxury and otherwise. Even Brazilian consumers at the high- end, who could afford to pay for an item all at once, expect to be able to pay in monthly (credit card) installments, allowing their money to stay invested and earn more money. • Caltabiano , a Brazilian car distributed innovated and is bringing a new form of payment in car sales: credit card American Express Membership Card. The payment option is available to all premium line of vehicles. • You can make the payment of the car by up to 12 fixed installments on the card. • This mode speeds up the approval of the purchase and generates points in the Membership Rewards Program, if you are subscribed to the same. Insights of Brazilian Luxury Market
  22. 22. Insights of Brazilian Luxury Market Who Luxury Consumer is : Behaviors and Consumptions Patterns • Why are Brazilians so different? Many of the rich are newly so, with the impulses that often attend that group. They are in their 30s and 40s and they want their fun now. • Brazilians spend more on luxury in the U.S. than visitors from any other nation • High Net Worths like to spend and show-off. They own two to three vehicles, usually armored. • They buy the boats that make land-locked Brasilia a major yacht market.
  23. 23. Insights of Brazilian Luxury Market Who Luxury Consumer is : Behaviors and Consumptions Patterns
  24. 24. Insights of Brazilian Luxury Market Who Luxury Consumer is : Behaviors and Consumptions Patterns
  25. 25. Insights of Brazilian Luxury Market Who Luxury Consumer is : Behaviors and Consumptions Patterns
  26. 26. Insights of Brazilian Luxury Market Cultural Aspects of Brazilian Luxury Consumers The attitude of Brazilian consumers is: Why wait if I can have it now? Consumers want their products immediately. It’s telling to look at the business of luxury cars in Brazil versus the U.S. or Europe. In Brazil dealers must have the car in stock, while in other countries you can maintain and manage a waiting list. If anything, being put on a waiting list in the U.S. serves to enhance the exclusivity and desirability of a car. Not so in Brazil.
  27. 27. Insights of Brazilian Luxury Market Cultural Aspects of Brazilian Luxury Consumers The beauty segment deals with different cultural aspects depending on the country. • In China, for example, tanned skin is characteristic of those who work in the field. The bourgeoisie, in turn, had a lighter skin. "This is one of the factors that causes there is a high demand for cosmetic whitening in the country," explains Jean- David Sebaoun, director for Latin America of Guerlain. • “On the other hand in Brazil tanned skin is synonymous of health and beauty, so that our best seller in the country is the Terracotta line that gives this solar air to the skin “ says Mauritius Queiroz architect specializing in retail
  28. 28. Insights of Brazilian Luxury Market Cultural Aspects of Brazilian Luxury Consumers • Brazilians have taken the concept of service to the extreme. In the U.S., many companies offer private shopping hours. In Brazil, that’s just the beginning. Instead of exclusive store access to a collection, Brazilians have private showings at their house. YSL, for instance, has done product launch events at a client’s house, with souvenirs for the invitees. Product demonstration in loco is also very common for luxury brands in Brazil. Customers are able to take products home to test them at no extra cost. • Brazilians consumers are particularly responsive to the feeling that a product is being made just for them, whether it’s the inclusion of a monogram on the product or the development of exclusive designs.
  29. 29. Insights of Brazilian Luxury Market Cultural Aspects of Brazilian Luxury Consumers Two Luxury Worlds in Rio de Janeiro • Traditional elite and the new elite, but the common sense are the highborn the South Zone and Barra da Tijuca new rich. "Luxury in Brazil does not have only one face. It must be seen on a regional basis" • The well-born, for example, gives a great importance in traveling and prefer to go to exotic places to have unique stories to tell. And why is that? "Because, for this group, who has friends has power, and it must be shown in conversations wealth of his repertoire. • The trips do not have the same meaning for the new rich who adhere to scripts "mainstream" - Miami, Orlando, New York, Paris - as shopping destination and sightseeing. They live the dilemma of inclusion, and have no such network of friends that makes them special. They need to prove all the time who have money and who are successful. • The culture of buying products with (golden) monogram plays an important role for them Source : Consumoteca Consulting
  30. 30. Insights of Brazilian Luxury Market Cultural Aspects of Brazilian Luxury Consumers • According to Michel Alcoforado an anthropologist owner of Consumoteca consulting who followed twelve women (considered as new riches) on a tour to Miami and Orlando for a week , in which each woman spent an average of $ 14,000 in purchases only. "The first reaction was euphoric, living doing well because of the prices. Then they felt sorry for the relatives who would not have access to those brands. So bought 30 shirts Armani / Exchange with that X in the chest, to take to their the family. Because for them there is no difference between Emporio Armani, Giorgio Armani or Armani Exchange, he said.
  31. 31. Insights of Brazilian Luxury Market Brazilian Luxury Fashion Market • Brazilian luxury fashion market • The characteristics of luxury fashion consumers • The most known luxury fashion companies • The main differences between Brazilian luxury fashion companies and foreign luxury companies • Temples of luxury fashion brands
  32. 32. Insights of Brazilian Luxury Market Brazilian luxury fashion market
  33. 33. Insights of Brazilian Luxury Market The characteristics of luxury fashion consumers • Despite Brazilians love of the casual fashion style, they like to dress up. “Wealthy woman in Brazil is completely fashion oriented, follow American Vogue and knows everything about fashion” Source: Brazilian Luxury market report - Valor Luxury Lab 2014
  34. 34. Insights of Brazilian Luxury Market Brazilian luxury fashion market The fashion sector is the most promising one, with 26% of the Brazilian luxury market. 35% of this amount corresponds to foreign companies. (site Brazil Business)
  35. 35. Insights of Brazilian Luxury Market Brazilian luxury fashion market
  36. 36. Insights of Brazilian Luxury Market The characteristics of luxury fashion consumers
  37. 37. Insights of Brazilian Luxury Market The characteristics of luxury fashion consumers
  38. 38. Insights of Brazilian Luxury Market The characteristics of luxury fashion consumers
  39. 39. Insights of Brazilian Luxury Market The characteristics of luxury fashion consumers
  40. 40. The most known luxury fashion companies Osklen is inspired by the dynamism of the metropolis and the exuberance of Brazilian nature, giving life to a style based on the harmonization of contrasts. The integrated perception of nature, culture and society, combined with a refined aesthetic, makes Osklen is considered by WGSN one of the ten most influential and inspiring brands in the world, believed to Future Maker by WWF-UK. Today, Osklen has 62 stores in Brazil, two stores in Milan, two in Tokyo and one in Rome, New York, Miami, Buenos Aires and a season shop in Punta del Este. In addition to showrooms in Italy, Greece, Australia and USA. *Book: Global Luxury Trends – Hoffmann, Jonas & Coste- Manière, Ivan (SKEMA, Business School) Insights of Brazilian Luxury Market
  41. 41. Insights of Brazilian Luxury Market The most known luxury fashion companies Cris Barros has over 350 models for collection, all with limited run. "That way, I keep a certain exclusivity," says the designer. Investing in haute couture techniques, keeping the attributes of national fashion is one of the secrets of success of the brand. Because even with above average quality, lacking the luxury brands specific knowledge of the body and the Brazilian temperament. "Hardly an imported clothing has the ideal model for the Brazilian," says Cris. In addition, one must understand that Brazil has several "countries" within it. What is considered sexy in the Northeast can be common in Curitiba. The more formal style of Curitiba can displease Bahia and so on. The challenge, therefore, is dealing with a country with distinct regional preferences.
  42. 42. Insights of Brazilian Luxury Market The most known luxury fashion companies For over 20 years, ANIMALE, today with more than 60 stores and 500 outlets, wearing Brazilian women with ready-to- wear premium and sophisticated. Leader in design, communication and distribution, the brand is among the five largest fashion companies in Brazil. It began in Rio de Janeiro in 1991. Presented at São Paulo Fashion Week as one of the great attractions of the event, the brand showed its Concept Line signed by stylist Vitorino Campos from the winter collection 15.
  43. 43. Insights of Brazilian Luxury Market The most known luxury fashion companies In 2008, the Company acquired Bo.Bô - Bourgeois Bohemia . With just a few products showroom and store at the time. The Company redesigned and repositioned the brand and expanded the product portfolio, so that today is your highest luxury brand. In 2011, the Company acquired the John John, which marketed jeans through a small wholesale network. The Company was founded in 1982 under the name Restoque Clothing Ltda. By two renowned professionals in the Brazilian fashion market. In 1988, Le Lis Blanc brand was created with the aim of developing a women's fashion business targeted to high-end public.
  44. 44. Insights of Brazilian Luxury Market The most known luxury fashion companies Daslu has collections made up of styles and quality materials and exceptional quality of products. It was the first brand in Brazil working with leather, chamois.
  45. 45. Insights of Brazilian Luxury Market The most known luxury fashion companies Ricardo Almeida is today one of the leading menswear brands in the country. His work is focused on tailored pieces as palettes, pants and shirts. Another specialty of the designer, his jeans sport line, knitwear and leather becomes object of desire every collection.
  46. 46. Insights of Brazilian Luxury Market The main differences between Brazilian luxury fashion companies and foreign luxury companies “Luxury brands are regarded as such because they are associated with nobles values. For traditional European luxury brands those noble values have been a commitment to quality, employment, innovation , contemporary forward thinking and the holders of a societal meaning”. “There is a need to transform the luxury management to combine environmental respect for raw materials (sourcing) to aesthetic appeal and craftsmanship in order to transform luxury consumption, for clients to develop a perception of what values luxury stand for: a New luxury “. “And there lies a great opportunity and challenge for Brazil. If Brazilian companies and brands are able to materialize our way of life, our joie de vivre, our sensuality, informality and health, that I call since the 1990s, the Brazilian soul, in association with raw materials from sustainable socio-environmental origin….” ( Oskar Metsavaht – Osklen’s Owner) Source: Global Luxury Trends, the book – Jonas Hoffman
  47. 47. Insights of Brazilian Luxury Market The main differences between Brazilian luxury fashion companies and foreign luxury companies A deep and creative journey to the interior of Brazil is the starting point of the summer 2015 Animale. Detached from a specific style, the collection dares in color blends, pattern and shape to translate landscapes, animals and cultural expressions.
  48. 48. Insights of Brazilian Luxury Market The main differences between Brazilian luxury fashion companies and foreign luxury companies Animale Summer Collection - 2015
  49. 49. Insights of Brazilian Luxury Market Temples of luxury fashion brands
  50. 50. Insights of Brazilian Luxury Market Temples of luxury fashion brands
  51. 51. Insights of Brazilian Luxury Market Temples of luxury fashion brands
  52. 52. Insights of Brazilian Luxury Market Temples of luxury fashion brands
  53. 53. Insights of Brazilian Luxury Market Temples of luxury fashion brands Oscar Freire Store
  54. 54. Insights of Brazilian Luxury Market Temples of luxury fashion brands
  55. 55. Insights of Brazilian Luxury Market Temples of luxury fashion brands
  56. 56. Insights of Brazilian Luxury Market Marketing and Finance Interface in Luxury Fashion Brazilian Companies The role of CFO’s personal traits in a luxury strategy • The role of marketing and finance interface in luxury companies • The necessary traits that a CFO should have in order to deploy the CMO’s luxury strategy • The CFO storyteller
  57. 57. Insights of Brazilian Luxury Market The role of marketing and finance interface in luxury companies Perspective of interrelationship of marketing and finance • The study of marketing and finance interface proves that its relationship affects not only the firm performance but also the expectations of a firm performance so that it creates value for shareholders in the long-run • The difference of focus is a field of discussion between the two areas. Marketers study consumer and product data, on the other hand financers study firm level data. • The feeling is that, consumed by a focus on shareholder value, CEOs and companies are unable to see the value of marketing. Therefore, in this line of reasoning, marketers must find metrics that will document the positive impact of their activities on shareholder value KUMAR, N., (2004)
  58. 58. The role of marketing and finance interface in luxury companies Perspective of marketing in luxury industry • The management of marketing for luxury markets is different. The anti-laws of marketing 1. Forget about ‘positioning’, luxury is not comparative 2. Don’t pander to your customers’ wishes 3. Don’t respond to rising demand 4. Make it difficult for clients to buy 5. The presumed price should always seem higher than the actual price 6. Do not sell 7. Keep stars out of your advertising Source: More on Luxury Anti-Laws of Marketing Vincent Bastien, Jean-Noël Kapferer A “luxury marketing strategy” might be regarded as the peak of high-end strategies. such a strategy might be differentiated by special characteristics, such as long-lasting value, superfluity, and highly impressiveness to others. Hennigs, Nadine; Wiedmann, Klaus-Peter; Klarmann. MaY 2012. Insights of Brazilian Luxury Market
  59. 59. Insights of Brazilian Luxury Market The role of marketing and finance interface in luxury companies Perspective of marketing & finance interface in a luxury industry • Due to the difference in way of marketing managing and in finance managing, one must develop specific traits to work in this kind of company. To these traits are added those aspects specific to luxury, often ignored or underestimated. Kapferer 2012 • Kapferer., Bastien, 2012 highlights the role of human resources in a luxury industry and the importance of the team, which encompasses artists, artisans, and managers. • Managers in a luxury industry, should have ‘something extra’ which means that they know how to work with artists and handle fluid concepts, since they have an artistic side, and know their limits in this field. Kapferer., Bastien, 2012
  60. 60. Insights of Brazilian Luxury Market The role of marketing and finance interface in luxury companies Perspective of marketing & finance interface influencing financial markets • Marketing shall create indicators, in order to focus on the financial market expectations • The stock markets form perceptions of the firms that are reflected in their share prices. They based their studies in the data that is available in the present like cash flow, profitability and risks, however, predictions are necessary in order to forecast future cash flows • The marketing and finance interface has direct impact in brand valuation, working capital, and product investment decisions. • Maximization of customer and shareholder value has been recognized as drives of a firm’s long-term viability and survival
  61. 61. Insights of Brazilian Luxury Market The role of marketing and finance interface in luxury companies A dynamic framework for studying the marketing/finance relationship The multiple paths in which marketing influences financial markets and vice-versa. Lovett.J.M.Mac donald.B.J ,(2005)
  62. 62. Insights of Brazilian Luxury Market The necessary traits that a CFO should have in order to deploy the CMO’s luxury strategy
  63. 63. The necessary traits that a CFO should have in order to deploy the CMO’s luxury strategy Insights of Brazilian Luxury Market
  64. 64. The necessary traits that a CFO should have in order to deploy the CMO’s luxury strategy Insights of Brazilian Luxury Market
  65. 65. Insights of Brazilian Luxury Market The necessary traits that a CFO should have in order to deploy the CMO’s luxury strategy Artist Approach Trait --- Cost reduction Strategy • Instead of cutting costs, it is more important to invest in communication, creation, and distribution to construct an environment of desire for customers. It means that financial managers must have the capacity to understand the subjective language of the creator. Creativity Trait -- Business Planning Strategy • Financial Managers must design strategies as to increase their companies’ value. Kapferer and Tabatoni, 2010 . Financial managers must help marketers to construct a strong brand image. It is in turn, necessary not to increase the sales; instead, it is to recreate the dream to prepare the future. Communication Trait ---- Financial Market Strategy • This message must encompass an idea of luxury strategy brand’s aura. Finance is not so much about numbers; it is about emotions and dreams. Kapferer and Tabatoni, 2010. • They must convince the shareholders about the brand’s DNA, its value and its capacity to create a dream for their consumers.
  66. 66. The necessary traits that a CFO should have in order to deploy the CMO’s luxury strategy Commercial and Psychological Traits - Economy of Scale strategy Instead of following the economy of scale strategy, CFOs must build up their brands in order to make customers dream about their products. If the brand creates an aura of uniqueness, exclusivity, it will create more desire and demand will grow Insights of Brazilian Luxury Market
  67. 67. Insights of Brazilian Luxury Market The CFO storyteller “After a presentation, 63% of attendees remember stories. Only 5% remember statistics”. Author: Chip & Dan Heath “People think in stories, not statistics, and marketers need to be master storytellers”. ‖ http://www.marketingprofs.com/articles/2013/11036/arianna-huffington-marketing-megatrends-vocus-conference “Storytelling is by far the most underrated skill when it comes to business” https://twitter.com/garyvee/status/10675127621
  68. 68. Insights of Brazilian Luxury Market The CFO storyteller Remember…. Numbers are not enough if they are not brought to life
  69. 69. Insights of Brazilian Luxury Market The CFO storyteller • The more a brand evokes status, glamour, seduction, exceptional quality and prestigious to their clients the more it can make the consumer market dream, as a result, it can command high prices and mark ups, generating future cash flow. Kapferer and Tabatoni 2010
  70. 70. Insights of Brazilian Luxury Market The CFO storyteller “People are looking for a connection. Tell a good enough story about your brand and people will not only get invested, they’ll want to buy from you”. http://johnmichaelmorgan.com/10-triggers-of-brand-influence/
  71. 71. Haroldo Monteiro PHD Candidate ESC Rennes School of Business, Rennes, France Executive Director Planning & Management Consulting Contact: 55-21-997344863 haroldomonteiro@planningconsultoria.com.br Insights of Brazilian Luxury Market

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