Philippe Lentschener, the founder of Reputation Age, recently shared his insights on the importance of trust in the luxury industry during the Salon du Luxe 2020 event. In the midst of the ongoing Covid-19 crisis, the luxury industry has faced criticism and uncertainty, leading to questions about its operations, offerings, and most significantly, its ability to establish trust with customers. Lentschener emphasizes that amidst these challenges, it is crucial for the luxury industry to remember what initially made it renowned.
Lentschener highlights that trust is at the core of a new paradigm in the luxury industry. He believes that in French luxury, the essence lies in the appreciation for fine craftsmanship, unique approaches, and an exceptional level of expertise. To establish trust, three key notions are essential. Firstly, legitimacy needs to be earned by showcasing expertise, heritage, and a rich history. Secondly, authority plays a vital role as French luxury has elevated craftsmanship to the level of art. Lastly, credibility is achieved through the combination of legitimacy and authority, coupled with a clear vision. Lentschener emphasizes that French luxury maintains its credibility because it possesses a distinct vision and purpose. He adds that to be considered legitimate, accomplishments must be showcased, and the industry must demonstrate its authority through action.
For those interested in watching Philippe Lentschener’s complete intervention, the video is available on the Salon du Luxe Paris website.
Useful Links:
– Salon du Luxe Paris
– Reputation Age
