Manners and Etiquette Coaching
The not so obvious Luxury Services rising star.
When Alexandra Messervy left the British Royal House to establish The English Manner company nobody thought she would end up 14 years thereafter presiding over a US $ 100m conglomerate spanning from the UK to China, India, The United Arab Emirates, Australia, Nigeria and the US. Indeed, from its inception in 2001, The English Manner has not ceased to grow demanding more resources and management skills form its founder every day.
For Ms Messervy this has been the greatest experience in her life. For her mentees, the most effective tool to insert themselves into the world’s leadership circles. Aggregate revenues of companies furnishing etiquette and manners coaching has consistently risen by 3.5% per year over the last decade. Today these firms represent a healthy US $ 5B industry worldwide.
Key to understanding the rise of these services is the pace of economic globalization experienced by the world since the inception of the Internet in civil communications; the price reduction in airfares and the universal access to mobile telephony. These have been the builders of a brand new economy that has rewarded entrepreneurship, as it reduced barriers to entry while facilitating access to accurate investment information and market trends. The result has been that approximately over 2M households have left the middle classes to become millionaires.
Total millionaire households in the world now are 16.3 Million representing 1.1% of all households globally and US $ 152 trillion in assets. 25% of these households are new arrivals. They thus need to enter the networks of exclusivity and there is precisely when companies like The English Manner become a valuable status building tool. And as Asian economies continue to churn out more innovations in services and products more millionaires will join the ranks of affluence thereby demanding more of these services.
India and China have already surpassed major European markets like Germany and France. Entrepreneurial spirit of people in these markets is already paying off in terms of personal wealth. From investors perspective this is a nice service niche to place safe bets. The rate of return of these companies is about 25% which is far better than that offered by financial services.