In the Luxury Sector, You Can Find the Difference
“We need trained staff who know how to manage the luxury industry" said Abelardo Marcondes, founder of Luxury Lab.
Pay attention to this figures: $26,500 million dollars and 88’8%. The first one respond the growth that the luxury industry will experience in 2019, in Latin America. The percentage talks about the increase in 2015, compared with the previous year. Therefore, Mexico is the luxury sector leader according to consulting company, Euromonitor.
At this stage, we have to talk about an essential man in the Latin American luxury industry. This is Abelardo Marcondes and he is an essential person for two reasons: First of all, his innovative nature. Abelardo saw the opportunity where nobody did. Secondly, his responsability. He knows the importance of luxury products sustainability.Born in Sao Paulo, Abelardo arrived México in 2007. Previously, he had been working in investment banking; a learning experience that would help him with LoveBrand Bossa Nova, a PR Agency focuses on luxury brands like Rolex, or Bulgari, in the mexican market. Four years later, ‘Luxury Lab’ officially came into existance in 2011 and nowadays is the leader market intelligence in the Latin America luxury industry.
Marcondes has consolidated this forum in Mexico, Brasil and he is getting ready also in Panamá and United States. There is another flagship proyect: Luxury Lab Institute. The first institute aimed at future industry leaders of luxury in Mexico and Latin America. With the growing demand of expertise, ther designed a program that focuses on training in areas such as the management of luxury brands in retail and hospitality.
The Luxonomist: What are the Luxury Lab forum goal?
Abelardo Marcondes: Luxury Lab was created because the luxury sector in Mexico had registered a strong growth and no one was dedicated to analyzing it. We develop different market research and we saw it clearly. We invited technology speakers, fashion and trends speakers also… All these areas are very interesting to a senior executive of the luxury sector. Our goals are clear: We want to broaden the knowledge about luxury brands and also help to develop the local brands.
TL: What are the best markets for Luxury Lab?
AM: We are interested in booming economies, countries with a developed luxury market also. Panamá is one of them. Also United States, where the luxury sector was one of those who had the highest growth in 2015. We are still deciding the location for ‘Luxury Lab USA’, but Miami and New York are two good exhibitors. Of course Brazil, although it is happening economically complex times , » Luxury Lab ‘ wants to continue support this market.
TL: And obviusly Mexico…
AM: Sure! In Mexico we will be June 13 at the St. Regis Hotel. Mexico’s potential is impressive. We are talking about almost 10% luxury growth sector in recent years. In 2013, Mexico beat Brazil for the first time in turnover, reaching 14,000 million, above 13,800 in Brazil. We are talking about figures that also directly affect employment, generating many jobs.
TL: What is your opinion about Spain?
AM: The spanish growth also was awsome.I have not seen numbers or definitive statistics, but I’ve seen some results of 2015 and it is quite interesting how the sector behaved after the economic crisis. It is a market that has good potential. We are evaluating to enter in Europe and we think Spain would be our door to the old continent.
TL: Regarding Mexico, What local brands will succeed internationally?
AM: I love ‘Tane’, a firm that that for more than a half century has been characterised for its unique passion for design with silver. Also ‘Pantera’, ‘Casa Dragones’ (a tequila very famous for the Hollywood celebrities). If we talk about fashion, we have to talk about the designers Kris Goyri and Christian Cota…. And of course the tourism. Maybe Mexico has the most developed luxury tourism: Velas Resort or Habita Group have exquisite design and architecture.
TL: And what about Luxury Lab Institute?
AM: ‘Luxurylab Institute’ ensure a solid development of professionals, who are up to the standards of today’s industry, offering unique experiences within this universe. Luxurylab Institute will feature an exclusive career opportunities for our graduates in major companies of the industry. Our goal is to prepare students to become opinion leaders and experts or personalities in the luxury industry after graduation. Specifically, they should be ready to play an active role in companies where excellence and professionalism are the basis of growth.
TL: In your opinion, is very important the sustainabality in the luxury industry, right?
AM: Yes, it is. Search luxury but with products and materials that are environmentally friendly. Also in the luxury sector you can find the difference, look at Tesla.
TL: Is Tesla an example of reinvention in the luxury sector ?
AM: Of course it is. Tesla has revolutionized the industry, but also Louis Vuitton has adapted the technology. Look their designs with a suitcase with GPS. Watches with internet connections and I’m not talking about Apple Watch , I am talking about Cartier or Bulgari, who see in technology a need to expand and innovate their products, because the consumer demands it. The consumer must be exigent.
TL: Give us the luxury about some recommendations, for example, your favourite restaurant.
AM: Manzanilla Restaurant. Is is in Ensenada, Mexico. Baja California food with fresh ingredients.
TL: Choose a desginer for men, and another one for women…
AM: For him, I choose of course Neil Barret. I love his designs. For women definitely I choose John Galliano, despite the controversy, he is a genius.
TL: A trip?
AM: I am a sportsman and skier, so I choose Courchevel, France.
TL: What is your daily luxury?
AM: My luxury is my job. It concentrates everything that I like.