Parsons Partners with Columbia Business School to Design Innovative Product and marketing Concepts for Leading Luxury Goods Companies
Luxury Education Foundation Sponsored Program Provides Design and
Business Students with Opportunity to Work in
Cross-Disciplinary Teams and Interact with Executives
NEW YORK, December 11, 2006— From a Louis Vuitton travel case for DJ turntables to a new line of “Femme Fatale” Lalique jewelry, students from Parsons The New School for Design and Columbia Business School have developed innovative design and marketing solutions to challenges posed by some of the world’s leading luxury goods companies. Made possible through a collaborative program sponsored by the Luxury Education Foundation (LEF) and co-taught by Parsons and Columbia faculty, participating companies included Ferragamo, Graff, Hermès, and Saks Fifth Avenue, in addition to Lalique and Louis Vuitton.
“This collaborative program, now in its 12th year, demonstrates Parsons commitment to providing our students with an understanding of the application of design in business strategy and new product development,” said Tim Marshall, Dean of Parsons. “We recognize the role of design as a catalyst for business change, and are growing our expertise in design strategy and planning, as well as partnering with institutions such as Columbia and LEF to enrich the learning experience.”
Through the program, Product Design and Design Management students from Parsons worked in teams with students from Columbia Business School, consulting closely with executives from participating companies. Through this experience, students gain a better understanding of how to work across disciplines to create and market luxury goods products, focusing on the integral roles communication and collaboration play in the success of a product line.
“The Foundation is honored to support this program and believes it is a unique opportunity for both companies and students. This course provides a concrete experience for a comprehensive understanding of product line development,” said Barbara Cirkva, Division President, Fashion, Watches and Jewelry for Chanel, Inc. and Chair of the Luxury Education Foundation.
The following are this year’s projects:
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Salvatore Ferragamo asked students to develop innovative concepts for relaunching the iconic Vara shoe in order to reach new audiences and increase brand awareness and desirability. The team updated the design, most significantly “letting the hair down” of its signature bow, while retaining the classic buckle, as well as introducing a brighter color palette, exotic leathers, a range of heel heights, and a fun selection of patterned insoles. To launch the shoe, the team devised a marketing campaign that includes press events at New York Fashion Week and the Cannes Film Festival. |
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Graff asked students to expand its product line to include men’s and women’s watches that would complement the company’s haute joaillerie, reflecting the brand’s core image with elements of Graff’s signature classic style. The students designed an ultra-luxury watch line including one style that incorporates Graff’s iconic jewel, the diamond, into the function of the watch via a diamond-encrusted hour ring. To launch the new product line, the team devised an advertising campaign with the theme “How Long Must I Wait?”, and a launch event featuring a commissioned performance piece by Cirque du Soleil. |
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Hermès asked students to create new design concepts and marketing initiatives for Hermès classic products to attract a broader and more youthful audience. Taking a page from the classic H buckle and signature silk scarves, the team developed a range of products, from a reconceived Constance handbag with an enamel H, to a reversible silk belt and an evening clutch inspired by the Birkin bag with enamel H charms. Marketing concepts included launch events with such themes as “Winter Wonderland,” “Summer Yachting,” and “Le Duc Drive In”—an outdoor film festival in Central Park showcasing newly restored French classics. |
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Lalique asked students to build a business strategy to develop and grow its current jewelry line in the North American market. In response, the students created a “Femme Fatale” jewelry line that is evocative of the company’s Art Nouveau heritage and appeal to today’s woman. Among the products are “Poison” bangle that encases mercury, and a “Black Widow” necklace. To launch the new line, the students devised a viral marketing campaign and an anime competition. |
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Louis Vuitton asked students to review the company’s product line in the travel sector, which has been part of the brand DNA since its founding in 1854, and present its recommendations for growth and development. The team came up with a range of customizable travel cases geared to different regions of the United States, including an Aspen travel case for winter sports gear; a Las Vegas DJ travel case; and a San Francisco art box to hold prints and drawings. To launch the products, the students developed an “LV Island” marketing campaign, a private island geared toward ecotourism that would host LV clientele. |
Lastly, Saks Fifth Avenue New York asked students to focus on its menswear collections. The company recently renovated the 7th floor of its flagship store and will soon renovate its 6th floor. Saks asked the students to study the current customer base and offerings, and propose new ways to reach and attract male clientele.
Columbia Business School
Widely admired for its global and cutting-edge curriculum, Columbia Business School is one of the leading business schools in the world. In addition to its renowned MBA program, Columbia Business School offers the prestigious Executive MBA (EMBA) and non-degree Executive Education programs. The School’s faculty is comprised of internationally respected professors and includes Joseph Stiglitz, who won the 2001 Nobel Prize in Economics and was chair of President Clinton’s Council of Economic Advisers from 1995-97.
Parsons The New School for Design
Recently named one of the top design schools for creative talent by BusinessWeek Magazine, Parsons The New School for Design is one of the most prestigious and comprehensive degree-granting colleges of art and design in the nation. Parsons’ rigorous programs and distinguished faculty embrace curricular innovation, pioneer new uses of technology, and instill in students a global perspective in design. Parsons has a long history of engaging leading corporations to develop design solutions for real-world business challenges, including Samsung, Siemens, Daimler-Chrysler and Microsoft. For more information, visit www.parsons.newschool.edu.