On December 8, students from Parsons The New School for Design and Columbia Business School presented concepts to executives from several leading luxury goods companies as part of the interdisciplinary course The Design and Marketing of Luxury Goods, sponsored by the Luxury Education Foundation (LEF).
Now in its 14th year, this innovative program teams Columbia MBA students with Parsons Design and Management, Communication Design, Fashion Design, and Fashion Marketing students, who work closely with executives from the participating companies to develop strategies and concepts. This year, the course moved beyond product development to explore new platforms and innovations for luxury.
The semester-long course functions as an incubator for new ideas for participating companies. The current economic climate has opened up extraordinary opportunities for innovation, and luxury goods companies are responding to it. This can be seen in this year's projects, which include expanding the Assouline collection beyond books and library accessories, finding ways to embrace new technological and digital opportunities for Chanel, rejuvenating the sensory retail experience for Fresh, developing a marketing strategy and launch for the first Graff fragrance for women, and strategizing a marketing campaign for the launch of the first Louis Vuitton boutique for men.
“The foundation developed this program to provide business and design students the rare opportunity to interact with top executives in the luxury goods industry and learn the various stages involved from conception to point of sale,” said Barbara Cirvka, chair of LEF and president of the Fashion, Watches, and Jewelry division at Chanel, Inc. “Responding to the ever-changing environment of the luxury world, we have seen our members go beyond product design and marketing to digital innovation in the challenges they present to these student teams.”
For more information, visit the LEF website .