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jerryking : high-end   25

For Sephora, the store is core to its beauty
July 24 2019 | | Financial Times | by Harriet Agnew and Hannah Copeland in Paris.

**Sephora stores focus on experience, allowing consumers to test products digitally on a virtual mirror for instance or personalise products **

Like its stores in New York’s Times Square and Dubai Mall in the Middle East, Sephora in La Défense has recently reopened after an extensive refurbishment. The investment reflects how bricks and mortar and experiential retail are key to Sephora’s growth. The LVMH-owned group, which stocks about 300 brands alongside its own label, has increased sales fourfold in the past eight years, fuelled by a booming beauty market........“A lot of people are scared of the retail apocalypse so they’re not investing in stores, and that becomes a self-fulfilling prophecy,” said chief executive Chris de Lapuente in an interview on the shop floor. “We’re investing in our stores, taking our top 100 stores in the world and renovating them to the best possible standard.”....Mr de Lapuente says one attraction of Sephora is that consumers “discover brands they can’t find anywhere else”, noting that about a third of its offerings are exclusive to Sephora, and it acts as an incubator for upcoming or niche brands....Exclusivity might be with Huda, which began selling false eyelashes in Dubai and subsequently developed a collaboration with Sephora; pop star Rihanna’s cosmetics brand Fenty, which is on track for €500m sales this year; or an exclusive collaboration with Dior for the Dior Backstage range of make-up.

Pointing to the beauty bar where customers can get a free makeover, Mr de Lapuente added: “Experiential retail is crucial to our success. Sephora is a place where people come for advice, they come to listen. We teach, inspire and play . . . You’re not going to get this online. Online you can do your research . . . here you can come and experiment.”

Mr Fujimori agrees, saying Sephora “successfully combines experiential retail with a leading ecommerce presence, leveraging digital technology to enhance the shopping experience in-store and online”......
Please use the sharing tools found via the share button at the top or side of articles. The challenge now for Sephora is to stay ahead in a world where there are more make-up and beauty brands than ever, and social media has lowered barriers to entry and boosted the speed to market. Meanwhile, Amazon last month announced the launch of its professional beauty stores, aimed at the mass market.

“Amazon is just another one of the many choices out there,” said Mr de Lapuente. “They have a strong e-commerce offering. They don’t have stores. We love that consumers love to shop online and in store.” He says that customers who buy both on- and offline tend to purchase three times more than those who buy using just one channel. Ecommerce represents an average of 20 per cent of sales in each country for Sephora, which uses influencers to build its community. “Amazon just forces us to raise our game.”....

The pressure is on to keep on innovating. “Beauty is so fast-moving, you can’t cruise,” said Mr de Lapuente. He says innovation will come both from new products (citing untapped potential in haircare and wellness), and from the way in which brands reach consumers. He sees opportunities in areas like voice-activated ordering through home assistants such as Amazon’s Alexa, and social commerce through platforms like China’s WeChat.

But despite such technological developments, for Mr de Lapuente, the store has a robust future.

At La Défense, customers are returning to work with Sephora’s distinctive striped bags modelled on the black and white stripes of Italy’s Siena Cathedral. “Is physical retail alive or dead?” mused Mr de Lapuente among the throng of shoppers. “It looks pretty alive to me. The store is where the magic happens.”
Amazon  beauty  brands  bricks-and-mortar  customer_experience  cosmetics  digital_influencers  e-commerce  experimentation  experiential_marketing  high-end  in-store  incubators  innovation  LVMH  makeup  millennials  omnichannel  refurbished  renovations  Sephora  women 
12 weeks ago by jerryking
How a private equity boom fuelled the world’s biggest law firm
June 6, 2019 | Financial Times | James Fontanella-Khan and Sujeet Indap in New York and Barney Thompson in London.

Jeff Hammes took the helm at a Chicago-based law firm called Kirkland & Ellis in 2010, with the aim of turning it into a world-beater, few in the industry thought he stood a chance.......known as a good litigation firm in Chicago with a decent mid-market private equity practice, in the blockbuster dealmaking world, however, the firm was largely irrelevant. Nobody took them seriously on Wall Street.....Fuelled by explosive growth in private equity, aggressive poaching of talent and most of all, a business model that resembles a freewheeling investment bank, Kirkland has become the highest-grossing law firm in the world.....This rise reflects the shift in the financial world’s balance of power since the financial crisis. Investment banks, the dominant force before 2008, have been eclipsed by private equity firms, which now sit on hundreds of billions of dollars of investment funds.

Kirkland thrived by hitching itself to this dealmaking activity. The firm presents with a relentless — many say ruthless — focus on growth, a phenomenal work ethic and a desire to up-end what it sees as a lazy hierarchy. Key questions: can its winning streak can continue? Will its private equity clients continue to prosper? how will Kirkland cope if and when the private equity boom ends? And can a firm with such a hard-charging culture survive in the long run?....Robert Smith’s Vista Equity has grown to manage assets from $1bn to $46 in a decade while working with Kirkland.....To establish Kirkland as a major player, Mr Hammes turned his attention to recruitment. ....poaching proven M&A experts and targeting all areas of dealmaking.....To entice the best lawyers to join its ranks, Kirkland managed to exploit a structural rigidity in its more traditional white-shoe and magic circle rivals. A dwindling but still significant number of elite firms remunerate equity partners using a “lockstep” model......
Kirkland sought rising stars in their late thirties who were at the bottom of this ladder, stuck in the queue for the highest share of profits. Part of its pitch was money — “With compensation, we can go as high as we want,” says one partner — but the other part was an almost unprecedented level of autonomy.
Big_Law  booming  business_development  Chicago  compensation  concentration_risk  dealmakers  deal-making  eat_what_you_kill  financial_crises  growth  hard-charging  high-end  hiring  howto  hustle  Kirkland_Ellis  law  law_firms  litigation  mid-market  organizational_culture  poaching  private_equity  recruiting  Robert_Smith  superstars  talent  turnover  Vista  Wall_Street  winner-take-all  work_ethic  world-class 
june 2019 by jerryking
5 Ways to Value Your Collection, Whether It’s Fine Wine or Shrunken Heads
March 1, 2019 | The New York Times | By Paul Sullivan.

Collectible assets include wine, spirits, coins, trading cards as well as more unusual items, like lighters, belt buckles and even shrunken heads. These collections cost money and time to assemble and certainly have a value to their owners, but can they be considered legitimate investments? That depends on the market.

For many collectors, the only option to buy, sell or even value these assets is through online auction platforms like eBay or enthusiast sites, but for others, their possessions are treated as fine art.......the market for collectibles, which are often valued in the millions of dollars, may not always be so easy to weather. It can experience sudden surges that put desired items out of the reach of true collectors or it can collapse, wiping out the gains speculators thought they had made.

In an economic slowdown, how these investments are treated depends on supply and demand as well as unpredictable forces like fashion and popularity.....Collectibles can be broken into categories determined by provenance, rarity and even a moment in time. Here are five issues to consider when weighing the investment potential of your collection.....
(1) The standouts in the crowd - Leading the pack are high-quality items that have broad name recognition.
(2) High risk, high reward -
(3) Not all collectibles are investments- jewelry is not an investment....because the market is driven too much by changing fashion.
(4) Obscure and difficult to sell - establish the value of esoteric collections by using third-party appraisers. But insurance companies like A.I.G. value these collections by their replacement value, not by the price someone would pay for them.
(5) A market downturn - =hether it’s shrunken heads, 1,000 bottles of wine or sheets of trading cards, a ready buyer may not be available — or may want to pay much less (i.e. a step change in the valuation).
collectibles  collectors  high-risk  howto  obscure  valuations  AIG  auctions  assets  brands  eBay  economic_downturn  esoteric  fine_arts  high-end  high-quality  investing  investments  passions  step_change  unpredictability  wine  whisky  online_auctions 
march 2019 by jerryking
Godiva indulges global coffee craving with café rollout
DECEMBER 16, 2018 | Financial Times by Andrew Edgecliffe-Johnson and Alistair Gray in New York.

Godiva, the Turkish-owned Belgian chocolate brand, is to roll out 2,000 cafés as part of a plan to multiply revenues fivefold over the next six years — the latest sign of a coffee craze in the global food and drinks industry..... to raise capital to fund the expansion, Godiva and its bankers at Morgan Stanley have been in talks with several potential strategic investors about a possible $1bn-plus transaction....The New York-based group already has 40 cafés, including an outlet in Harrods, London, after an initial pilot launched in Istanbul and Shanghai in 2010. Yet Ms Young-Scrivner, a former Starbucks executive, said the company believed coffee consumption would continue to grow and a larger chain of Godiva outlets was “a natural extension”. Coffee and tea, she said, “pair really well with chocolate”.....Godiva’s 1,500-2,500 sq ft cafés will start appearing in big cities around the world from next spring, when the first is due to open in New York. About a third of the outlets are planned for North America, a third in Asia and a third in the rest of the world. Their menus will feature hot chocolate, cookies, affogato, chocolate-dipped strawberries and croiffles, a sweet or savoury cross between a croissant and a waffle..........The second part of Ms Young-Scrivner’s plan includes expanding Godiva’s distribution in grocery stores. The company estimates its share of the US packaged chocolate market at just 2 per cent and plans to expand the distribution of its chocolate bars and packages aimed more at self-indulgent snacking than at the premium-priced gift market where it has long focused.

Godiva was watching with interest the growth of cannabis-infused chocolates and drinks, which has prompted several large consumer groups to explore investments in cannabis companies, but this was “not a priority” for the company, Ms Young-Scrivner said.
brands  cafés  chocolate  coffee  Godiva  high-end  rollouts  expansions  cannabis  self-indulgence 
january 2019 by jerryking
How Tech is Drawing Shoppers Back to Bricks-and-Mortar Stores - WSJ
By Rebecca Dolan
Sept. 12, 2018

Robin Lewis, "The New Rules of Retail"

E-commerce’s disruption of malls is impossible to deny, but sometimes shopping in stores is the only way to guarantee quality before you buy. The question: Will these technologies help you make the most of the trip?
books  brands  bricks-and-mortar  customer_experience  e-commerce  high-end  innovation  Nike  retailers  technology  mobile_applications  Nordstrom 
september 2018 by jerryking
Boom amid the bust: 10 years in a turbulent art market | Financial Times
July 27, 2018 | FT| by Georgina Adam.
September 15 2008, the date of Lehman Brothers' bankruptcy filing, was also the first day of a spectacular gamble by artist Damien Hirst, who consigned 223 new works to Sotheby’s, bypassing his powerful dealers and saving millions by cutting out their commissions........The two-day London auction raised a (stunning) total of £111m.......o the outside world, though, the Hirst auction seemed to indicate that despite the global financial turmoil, the market for high-end art was bulletproof....in the wake of the Hirst sale, the art market took a severe dive.... sales plunging about 41% by 2009, compared with a market peak of almost $66bn in 2007. Contemporary art was particularly badly hit, with sales in that category plunging almost 60 % over 2008-09. Yet to the surprise, even astonishment, of some observers, the art market soon started a rapid return to rude health...the make-up of the market has changed. The mid-level — works selling between $50,000 and $1m — has been sluggish, and a large number of medium-sized and smaller galleries have been shuttered in the past two years. However, the high-performing top end has exploded, fuelled by billionaires duelling to acquire trophy works by a few “brand name” artists....A major influence on the market has been Asia....What has changed in the past 10 yrs. is what Chinese collectors are buying. Initially Chinese works of art — scroll paintings, furniture, ceramics — represented the bulk of the market. However, there has been a rapid and sudden shift to international modern and contemporary art, as shown by Liu and other buyers, who have snapped up works by Van Gogh, Monet and Picasso — recognisable “brand names” that auction houses have been assiduously promoting......Further fuelling the high end has been the phenomenon of private museums, the playthings of billionaires....In the past decade and even more so in the past five years, a major stimulus, mainly for the high end, has been the financialization of the market. Investment in art and art-secured lending are now big business....In addition, a new layer of complexity is added with “fractional ownership” — currently touted by a multitude of online start-ups. Often using their own cryptocurrencies, companies such as Maecenas, Feral Horses, Fimart or Tend Swiss offer the small investor the chance to buy a small part of an expensive work of art, and trade in it.....A final aspect of the changes in the market in the past decade, and in my opinion a very significant one, is the blurring of the art, luxury goods and entertainment sectors — and this brings us right back to Damien Hirst....Commissions are probably also lucrative. E.g. a Hirst-designed bar called Unknown was unveiled recently in Las Vegas’s Palms Casino Resort. It is dominated by a shark chopped into three and displayed in formaldehyde tanks, and surrounded by Hirst’s signature spot paintings. Elsewhere, Hirst’s huge Sun Disc sculpture, bought from the Venice show, is displayed in the High Limit Gaming Lounge. ...So Hirst neatly bookends the decade, whether you consider him an artist — or a purveyor of entertainment and luxury goods.
art  artists  art_finance  art_market  auctions  boom-to-bust  bubbles  contemporary_art  crypto-currencies  Christie's  Damien_Hirst  dealerships  entertainment  fees_&_commissions  fractional_ownership  high-end  luxury  moguls  museums  paintings  Sotheby's  tokenization  top-tier  trophy_assets  turbulence 
july 2018 by jerryking
Do we really want elite youth to get more elite? | mathbabe
December 16, 2013 Cathy O'Neil,

Finally, let me just take one last swipe at this idea from the perspective of “it’s meritocratic therefore it’s ok”. It’s just plain untrue that test-taking actually exposes talent. It’s well established that you can get better at these tests through practice, and that richer kids practice more. So the idea that we’re going to establish a level playing field and find minority kids to elevate this way is rubbish. If we do end up focusing more on the high end of test-takers, it will be completely dominated by the usual suspects.

In other words, this is a plan to make elite youth even more elite. And I don’t know about you, but my feeling is that’s not going to help our country overall.
education  PISA  elitism  meritocratic  Cathy_O’Neil  compounded  self-perpetuation  Matthew_effect  opportunity_gaps  privilege  high-end  cumulative  unfair_advantages 
december 2013 by jerryking
The Four Best (and Worst) Uses of Market Research| Page 2
April 9 2013 | | ChiefExecutive.net | Chief Executive Magazine | by Taddy Hall

Experience and research suggest that CEOs of many companies look for growth in the wrong places and in the wrong ways, thereby missing opportunities and leaving them for the newbies. In a sense, though, this is good news: success lies in doing things differently, not spending more.

Specifically, there are four approaches organizations often take, none of which reliably lead to the actionable insights business leaders need:

Seek and profile large, growing and profitable markets
Solicit feedback from current best customers
Segment markets based on customer attributes, such as demographics, or based on product characteristics like “high end” vs. “low end,” “regular” vs. “light,” etc.
Benchmark progress against competitors

In each case, it is easy to see why an industry leader might have interest in the findings; however, these outputs speak primarily to aspects of the existing business or to the franchises of other established players. In other words, mapping current demand reveals little to nothing of the less-visible latent demand that is essential fuel for transformational innovation. As Henry Ford mused a hundred years ago: if he’d asked folks what they wanted, they would have asked for faster horses. Echoing Ford, Steve Jobs noted that consumers can’t describe what they’ve never experienced.
market_research  disruption  Clayton_Christensen  high-end  latent  insights  growth  opportunities  transformational  customer_insights  innovation  large_markets  market_segmentation  customer_risk  actionable_information  hidden  Henry_Ford  Steve_Jobs  market_share  static  dynamic  segmentation  missed_opportunities  hiring-a-product-to-do-a-specific-job  unarticulated_desires 
april 2013 by jerryking
Behind China's Switch to High-End Exports - WSJ.com
March 24, 2013 |WSJ| By ALEX FRANGOS.

Inventronics exemplifies China's shift toward producing the higher-end products that are fueling the country's export growth. China has been increasing exports in industries as varied as computers, car parts, high-technology lamps and optical-surgical equipment, according to a Wall Street Journal analysis of Chinese, European Union and U.S. trade data.
China  China_rising  exporting  value_creation  high-end 
march 2013 by jerryking
The search for dark secrets - FT.com
November 28, 2005 | Financial Times | By Jeremy Grant

With the premium end of the US chocolate market growing at an annual compound rate of 15 per cent compared with 3 to 4 per cent for standard chocolate, Mars believes there is scope to sell high-quality chocolates in a café setting to a target group of relatively affluent people aged from 25 to 39.

Focus group work, and the number of young mothers visiting the Chicago stores with prams and strollers, tells Mars that most will be women. It is perhaps no coincidence that the name Ethel – that of the wife of Mars company founder and inventor of the Milky Way, Frank Mars – was chosen.
CAGR  cafés  chocolate  confectionery_industry  CPG  experimentation  gourmands  gourmet  high-end  high-growth  high-quality  market_research  Mars  niches  retailers  Starbucks  upscale  women 
july 2012 by jerryking
For Some Manufacturers, There Are Benefits to Keeping Production at Home - WSJ.com
January 22, 2007 | WSJ | By MARK WHITEHOUSE.

much of what can go abroad already has, leaving behind what can and should be made in the U.S. One area of strength: high-end goods like top-of-the-line $6,000 Sony Grand WEGA TV sets and $15,000 Sub-Zero PRO 48 refrigerators, which appeal to the affluent folks who have been driving much of the growth in U.S. consumer spending.

"It's the very high-end products," says Daniel Meckstroth, chief economist at Manufacturers Alliance, a trade group. "Manufacturers who have niche markets in high-end products have a very good outlook."...."Manufacturing is contributing to the welfare of the economy in terms of standard of living, but it's not generating net new jobs," says Mr. Meckstroth. "The electronics sector is one of the areas where that's most visible."
manufacturers  offshoring  white_goods  Sub-Zero  appliances  onshoring  high-end  consumer_electronics 
june 2012 by jerryking
From the VIP Art Fair to Art.sy, the Art Gallery Goes Digital
JANUARY 14, 2011 | WSJ.com |By ELLEN GAMERMAN and KELLY CROW

The question of whether top-tier art can successfully be sold online has long bedeviled the art world. High-end collectors have traditionally been leery of spending significant money on art they haven't seen in person, and a number of online-art selling ventures fizzled early on. But as more and more powerful art buyers emerge from Asia, Russia and the Middle East, the need to quickly reach collectors around the globe has never been greater. And dealers are looking for ways to reach a younger generation that's beginning to explore the art market—without alienating their best clients.

Now, some of the biggest names in the worlds of art and technology are betting that collectors will spend millions on paintings and sculptures that they've only seen online. A who's who of top galleries is taking part in the VIP Art Fair, an online-only event where potential buyers can shop for works by contemporary and modern artists like Jackson Pollock, Louise Bourgeois, Francis Bacon and Damien Hirst. Nearly 140 galleries from more than 30 countries—including blue-chip dealers like David Zwirner, Larry Gagosian and the Pace Gallery—have paid to host virtual booths.
collectors  art  e-commerce  art_galleries  art_market  Damien_Hirst  high-end  top-tier 
january 2011 by jerryking
U.S.G. and P.T.A.
Nov. 23, 2010 | NYT | By TOM FRIEDMAN. Our unemployment today
is not only because of the financial crisis. There are deeper problems.
Getting Americans back to work, requires more stimulus from the U.S.
govt. and from Parent Teacher Associations — i.e .top down and bottom
up. Three problems: (1) Global academic competition is stiffer. (2)
Technology has gone on a rampage, destroying low-end jobs and creating
high-end jobs. (3) America started slipping behind its peers in high
school & college graduation rates, global test scores in math and
critical thinking. To overcome these problems, we need to enlist both
the U.S.G. & the P.T.A. We need teachers & principals to be paid
better for better performance. We need better: parents ready to hold
their kids to higher standards of academic achievement; students who
come to school ready to learn, not to text. And to support all of this,
we need an all-society effort to nurture a culture of achievement and
excellence.
academic_achievement  education  globalization  graduation_rates  high-end  high-touch  parenting  PISA  text_messages  Tom_Friedman 
november 2010 by jerryking
Fifteen Percent of Immortality
July-August 2010 | Harvard Magazine | by Craig A. Lambert ’69,
Ph.D. ’78, is deputy editor of this magazine. Profile of literary
agent Andrew Wylie, who aims for the high end—financial and literary.
publishing  writing  literary_agents  talent_management  high-end  digital_media  Andrew_Wylie  Harvard  talent_representation 
july 2010 by jerryking
EBay Adds 'Flash' Fashion - WSJ.com
MARCH 29, 2010 | Wall Street Journal | By GEOFFREY A. FOWLER
And RAY A. SMITH. EBay Adds 'Flash' Fashion
Business Model Takes a Page From Online Sample Sales. EBay Inc. will
launch "flash sales" of high-end fashion brands Monday in its latest bid
to revive its giant online marketplace. On a portion of its Web site
dubbed Fashion Vault, the company will offer discounts starting at 50%
off retail for a limited time, beginning with offerings from French
Connection Group PLC.
The business model, which follows a trial in the fall featuring Hugo
Boss, DKNY and Max Mara, takes a page from such Web sites as Gilt Groupe
Inc. and GSI Commerce Inc.'s Rue La La. Those sites have carved out a
fast-growing niche in e-commerce by offering the online equivalent of
one-off sample sales. The move is a departure for eBay, which has
generally billed itself as a neutral third-party marketplace that anyone
can join.
apparel  brands  EBay  e-commerce  fashion  flash_sales  high-end  high-growth  microsites  niches  one-of-a-kind  product_launches  Ray_Smith 
march 2010 by jerryking
Paradise Lost for Wealthy Resort Novice - WSJ.com
DEC. 7, 2009 | Wall Street Journal | by KRIS HUDSON. For some
ultrawealthy Americans like Mr. Sillerman, trophy hotel investments
made during the real-estate boom have turned into major burdens. Some
newly opened properties aren't generating enough cash to cover operating
expenses. Construction of others is being halted as lenders and
investors pull out. During the first nine months of the year, developers
postponed or canceled 43 luxury hotels totaling about 9,300 rooms in
the U.S. and the Caribbean, according to research firm Lodging
Econometrics. While veteran hoteliers are accustomed to booms and
busts, the newcomers are getting a sobering lesson in the risks of
owning and developing high-end lodging, which has been hit hard by the
real-estate bust. Sources: research firm Lodging Econometrics,
credit-rating company Realpoint LLC, Harrison Group - tracks the
spending and investing habits of the wealthy, Smith Travel Research,
Bjorn Hanson, assoc. prof. of lodging at NYU.
challenges  luxury  high_net_worth  travel  real_estate  hotels  hoteliers  bubbles  trophy_assets  high-end 
march 2010 by jerryking
Niche area creams off top end of the travel market
Aug 22, 2009 | Financial Times lpg. 30 | by Jonathan Moules.
ProQuest  luxury  travel  high-end 
march 2010 by jerryking
Big Changes at the High End
AUGUST 16, 2007 | WSJ.com | by RICHARD NALLEY

Luxury goods industry--the only area in which it is possible to make luxury margins--has consolidated into conglomerates.
luxury  consolidation  Outsourcing  counterfeits  book_reviews  branding  PPR  LVMH  high-end  industries 
april 2009 by jerryking
reportonbusiness.com: Set yourself apart from the pack
February 18, 2009, Special to The Globe and Mail, CHARLES
MANDEL. The article profiles Toronto-based entrepreneur Andy Wilkin, who
opens a coffee roasting company that will supply beans to restaurants
and cafes. The goal: bringing premium coffee to his customers. Mr.
Wilkin's strategic differences originate in large part from Tedde van
Gelderen, the president of Toronto-based Akendi, which helps launch
businesses and fine-tunes their products and services.

Akendi assisted Mr. Wilkin with his brand identity, logo, signage and
website, and also helped the coffee roaster understand what he would
need to do to differentiate his business.
entrepreneurship  entrepreneur  coffee  high-end  Akendi  start_ups  product_launches  branding  differentiation  brand_identity 
february 2009 by jerryking
Jamón, Jamón
June 27, 2008 Report on Business Magazine article by Sasha Chapman on high end hams and pairing combinations.
food  pork  meat  Sasha_Chapman  cured_and_smoked  hams  high-end  jamón_ibérico  jamón_serrano 
january 2009 by jerryking

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