Kering, the renowned French luxury conglomerate, is placing a strong emphasis on digital innovation and technology to drive growth for its prestigious brands. Spearheading this effort is Grégory Boutté, Kering’s chief client and digital officer, who has been at the forefront of digital transformation for the past five years. Boutté firmly believes that digital solutions are paramount in effectively showcasing the company’s labels and attracting new customers.
To promote innovation and collaboration, Kering has established the Imagination Lab, a spacious building located in Paris that houses over 200 employees. The lab boasts open-space offices, meeting rooms, break areas, and conference rooms. Boutté emphasizes the importance of flexibility for his team, encouraging them to work remotely three out of five days each week. Moreover, the lab is accessible to employees from Kering’s diverse brands and start-ups within its ecosystem.
Recognizing the escalating significance of digital platforms in engaging consumers, particularly the younger demographic and highly connected Chinese customers, Kering has wholeheartedly committed to embracing new technologies and harnessing big data throughout the luxury market’s value chain. This entails enhancing e-commerce operations, employing cutting-edge 3D design tools in product development, and exploring novel business models such as the resale market and subscription-based consumption.
One pivotal area of focus for Kering is the metaverse and non-fungible tokens (NFTs). While acknowledging the ongoing evolution of the metaverse, Boutté acknowledges the opportunity it presents in creating immersive experiences for customers. Kering has already established a presence in the metaverse by collaborating with renowned platforms like Fortnite and Roblox. Additionally, the company is actively exploring the potential use of cryptocurrencies and NFTs, considering their ability to enhance the luxury experience and open up avenues for new product lines. Boutté firmly believes in the lasting impact of these technologies and is keen on positioning Kering as a pioneer in their adoption.
In order to stay abreast of the latest developments in the digital and technology space, Kering has made strategic investments in companies and funds that focus on Web3 and cryptocurrency. The organization aims to forge strong relationships with investors and start-ups in order to gain valuable insights and explore potential opportunities in these domains. Furthermore, Kering is investing in various training initiatives, including the ‘NFT Serious Game’ and hackathons, to foster innovation across the entire organization.
Boutté emphasizes the criticality of embracing innovation and involving the entire organization in the digital transformation process. Kering recognizes that digital solutions are indispensable for the future success of the luxury industry and remains steadfast in its commitment to staying ahead of the curve. By strategically leveraging technology and embracing emerging trends, Kering intends to create unparalleled and immersive experiences for its discerning customers, thereby driving growth and solidifying its position as an industry leader.
Useful links:
1. Article on Grégory Boutté’s digital transformation initiatives
2. Vogue Business article on Kering’s foray into the metaverse
