Luxury Innovation Summit – Investors and start-ups in Geneva – Style & Tendance

What do these David and Goliath mostly remember?
Founded by Deepandra Pandrey and organized by her Swiss company Luxury Venture Group since 2019, the Luxury Innovation Summit provides a prominent place for innovative entrepreneurs in the luxury sector, helping them to convince investors who are likely to support their development. Projects that promote circularity and sustainable development are particularly welcome. Inextricably linked to the top, the Luxury Innovation Awards reward the best projects in five categories. Very international, the 2022 edition was held at the Bâtiment des Forces Motrices in Geneva on the 19th and 20th of October. GMT Publishing supported this initiative from the beginning as media partners (with their GMT magazine and WorldTempus), providing the expertise of their editorial team to lead panel discussions and inviting members of their Fine Watch Club to discover the nuggets presented during the event. . We interviewed the main actors.

Jury members, including Suzanne Wong, editor-in-chief of WorldTempus © Matthew Croizier

Interdependence for Laureate Stéphanie Crespin (Reflaunt)
Winner of the Circular Economy – Pre-Beloved category, the founder of Reflaunt (circular fashion platform) is used to this type of event. “I emphasize every time that it is extremely important that decision makers at large companies and those who shape the luxury industry invite small entrepreneurs like us to the table. Otherwise, we remain inaudible and have no influence. Here we can show big brands that there are credible solutions that work in the face of this real climate problem and the need for circularity. We need groups and vice versa. They work on a consolidated basis and don’t have the same agility to adapt, iterate or test quickly enough in the face of necessary changes. We are facing an environmental crisis that demands radical change at high speed. This is a big challenge.” She concludes by saying, “I really think start-ups enjoy this ability to imagine solutions that are disconnected from any past heritage or way of thinking, and show the way for these Goliaths to move and adapt.”

Collective effort according to TIrath Kamdar (eBay Luxury)
For the managing director of eBay Luxury California, himself an investor and creator of start-ups, “we are witnessing a multitude of initiatives in luxury, essentially revolving around innovations that enable their development, but we also see the need for coordination and networking After all, it is a community and a collective effort, so the main interest of this event lies in its diversity and its spirit. We hope that this will trigger collaborations between the participants, whether in the circular economy, blockchain technology, traceability or transparency in sustainable development, because it is inevitable that luxury will integrate these dimensions.” With 138 million active buyers worldwide, eBay has a role to play according to Tirath Kamdar: “We have a great responsibility in this market, especially because luxury is becoming one of our society’s three global priorities. We want to bring trust and transparency about brands to connect them with the next generation of customers, and we believe eBay can deliver a message to them in luxury. »

Investor and start-ups in Geneva

Tirath Kamdar, Stanislas de Quercize, Alain-Dominique Perrin and Deependra Pandrey (right) present the circularity award to Stéphanie Crespin (Reflaunt) © Tony Altermatt

Entrepreneurship according to Josh Pullan (Sotheby’s)
At one of the biggest booths at the event, where it was possible to see a selection of watches up for auction at the next auction, the director of the luxury division who spoke during the trends panel summed up his impression as follows: passion and the entrepreneurial spirit that animated all project presentations, whether products, data or services. These entrepreneurs fill the luxury space admirably. Sotheby’s presence here is an opportunity to interact with the luxury community, across all our categories (watches, jewelry, spirits, leather goods). Sotheby’s was founded in 1744, but we are also driven by innovation and an entrepreneurial spirit. »

The role of Geneva according to Chabi Nouri (Mirabaud Asset Management)
Partner of the luxury investment fund of the Mirabaud bank (sponsor of the event), the former CEO of Piaget declares that it is a plus for Geneva to host such a platform, as the city is very connected to the luxury industry, and believes that it should be more involved. to make it internationally known. She takes several lessons from this issue. “The people who still take the risk to define the world of tomorrow and positively impact it are admirable! Many in Geneva investors should be delighted, especially in the luxury sector. “. Regarding the public and the selection of startups, she praises the international dimension and the quality of the projects: “they are companies driven by a business model that works. In addition, this ecosystem not only includes profiles that offer products, but also that follow the trend of tomorrow’s new luxury, with experiences and the way customers engage today. It is the disruption that luxury expects, more than digitization in my opinion: customers choose their approach to the brand and the way they experience it, it is a disruptive challenge for our industry. This aspect and its diversity were well represented here, with a good level of experience in luxury. As a result, Chabi Nouri wishes the organizers greater international media coverage and a stronger bond with investors.

Investor and start-ups in Geneva

Luxury Innovation Summit 2022 © Matthew Croizier

The essential circularity of Stanislas de Quercize (Luxury Innovation Summit)
Always hyperactive in supporting start-ups and on the board of directors of many big luxury brands, the former CEO of Van Cleef & Arpels and chairman of the Luxury Innovation Summit set the pace throughout the event. After the awards ceremony, she confided: “This event reminds us that we are all in the joint conquest of a new world and not in competition, and that we need the goodwill of women, men, seniors, juniors, small start-ups and large groups and other Davis and Goliaths to find solutions and how to apply them. But the circular economy is essential in this matrix. »

The virtuous circle of Deependra Pandey (Luxury Innovation Summit)
Researched at the end of the summit, its founder notes the need for companies to explore the creativity and innovations of young entrepreneurs, who are also looking for an event that allows them to connect with investors. “On the one hand we learn, on the other we do business. Our approach aims to create a platform that supports emerging brands as well as existing ones. It now intends to define the evolution of the summit for 2023 and 2024, namely by adding one or two days.

See all the finalists and their awards at luxuryinnovationsummit.com

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