Exploring the World of Luxury
HEC Paris MBA students delve into the luxury industry through immersive treks, gaining insights from industry leaders like Xavier Romatet, CEO of Condé Nast France. Visits to Givenchy and Skintifique offer strategic analysis and firsthand experiences, shaping participants' understanding and potential career paths within the sector.
In a uniquely Parisian office with sweeping views of the Eiffel Tower and the Arc de Triomphe, Xavier Romatet (MBA ’86) described his rise to CEO of Condé Nast France. Twenty-three HEC Paris MBA students from the MBA Luxury Club listened to him speak about his personal experiences as part of the club’s trek to the French capital last November. “It was very inspirational to hear how Xavier drove his career to head such an iconic publishing company,” Caroline Spegiorin, then-president of the MBA Luxury Club, explained. “While meeting with us, his attitude was, ‘I’m here for you. Ask me whatever you want’.”
Student-led treks are designed to expose MBAs to different sectors within an industry and the particular issues they face, yielding thought-provoking results. During the Luxury Club’s trek, participants benefitted from an insider’s view into the acclaimed fashion and perfume house Givenchy, and visited Skintifique, a newcomer to the high-end world.
At Givenchy, Patricia Huyghues Despointes (H ’98) asked participants to analyze whether the upmarket icon should open a new store in Asia. “In luxury, branding and image mean as much as net revenue,” Caroline explained, “and as Chief Financial Officer, Patricia shared with us her own measures of how to strategically select a new location as an investment.”
The group also met with Marie Andrade (M ’05), Director of Digital and Marketing at Skintifique, as well as Dr. Jacques Delort, the company’s CEO. Skintifique was founded in 2012 and is known for its 100 percent pure, non-allergenic and innovative skincare products. The conversation included the company’s plans to expand their portfolio in this niche market.
“It was great to add something tangible to the strategies and concepts that we have been learning in the classroom,” said trek participant Orestes Peristeris (MBA ’18). “By visiting these companies’ offices and meeting their staff, we were able to understand first-hand their ways of doing business.”
For Caroline, the event’s main coordinator, the treks can aid participants in defining their future. “This kind of event is about more than networking,” she said. “Treks are a way for students to immerse themselves in the know-how of a specific industry. They help students gather a broader knowledge not only about the sector, but also about themselves. Many HEC MBAs are career switchers, and these events help them to understand how they can fit into a particular industry and bring their expertise to it.”
That’s why Romatet’s own career trajectory—he went from the HEC Paris MBA to his own advertising agency, then Condé Nast asked him to head their French office—particularly resonated with the group. Along with discussing how the publishing powerhouse changed its business model to overcome digital disruption—partially by opening a Vogue Café in Russia and a Vogue Bar in Bangkok–he gave his personal dos and don’ts on how to break into luxury.
Other Luxury Club-sponsored treks in 2016 included visits to the champagne estates of Taittinger, Veuve Clicquot and Moet & Chandon. The club also has springtime plans to travel to Milan for the MBA Retail and Luxury Forum.