Following its launch in 2005, the China Decision Makers Consultancy (CDMC) has been organizing a platform for luxury elites to exchange ideas in the form of the China Luxury Summit. After the 5th annual China Luxury Summit, held earlier this year in Macau, CDMC partnered with the Commercial Commission of Shanghai Jing’an District Government and 21st Century Business Herald to organize the inaugural Inno-Luxury Summit.
Held last weekend at the Four Seasons Hotel in Shanghai, the Inno-Luxury Summit focused primarily on recent progress and innovation in the global luxury industry.
With the emergence of new technologies in the industry, a stronger emphasis has been placed placed on luxury design and creativity, brand communication, online retailing and digital marketing.
The Inno-Luxury Summit, for which Jing Daily was a media partner, attracted over 300 industry figures and focused on issues such as best practices for building a long-standing luxury brand in an emerging market; developing tailor-made marketing and retailing strategies; the importance of second or third tier cities in China for luxury consumption; the contradiction between brand exclusivity and localization; as well as trends such as “fast fashion” or luxury e-commerce.
Speakers included executives from Porsche, Ferrari, Bally, Montblanc, luxury yacht maker Sunseeker, Swarvoski Elements, and KPMG. Among the representatives from luxury brands and consulting companies was Victoria Lu, the creative director of the Today Art Museum. Lu highlighted recent trends in the luxury and art worlds and spoke about the integration of luxury with the economy, culture, and lifestyle of Shanghai.
Over the course of the two-day summit, attendees were treated to a product showcase, luxury jewelry exhibition, award ceremony and elite banquet. As China’s significance in the luxury market continues to grow, we should see even more industry luminaries taking part in events such as the Inno-Luxury Summit. The inaugural Summit served as a valuable platform for discussion on luxury innovation, marking another important step in the development of the industry.