The session was conducted by Dr. Jyoti Das, Ex-CXO, Swatch and Klein. Mr. Das, who holds a rich experience in Luxury and Retail trading segment introduced the students with the concept of Luxury goods, how we can create and stimulate the need of buying luxurious goods among the consumers of a developing nation like India, through proper advertising campaigns, proper promotion mix strategies and help of the existing retail framework.

He extensively discussed the meaning of Luxury Retailing, how luxurious goods trade is different from normal goods, the challenges and the current buying and selling trends of Indian market, how we can increase the sales of Luxurious goods and how they have a leverage over other commodities.

The session also showcased many interesting videos of different advertisement campaigns done by brands like Rado, Mercedes, Louis Viton, the epic pastry watch collection launch for press done by Swatch, Celebrity Marketing campaign done by Swatch and some other interesting marketing strategies and tactics employed by brands currently engaged in retail trading for luxurious goods.

The students were also made aware about the recent innovations in the concept of advertisements and billboards like use of 3D billboard at Times Square, Digitalisation in marketing and cashless payment networkinvolving UPI, Bar Codes, wallets, in-app purchases etc, meaning and importance of Omnichannel Retailing and other latest and emerging trends of luxury retail segment.

Mr. Das also mentioned about the “Retail of the future model” which comprises of direct connection with customer, dealers becoming franchise partners with International Brands, where the customers experience the brand in a more personal manner, single and uniform standard pricing, etc.

Overall it was an enriching, thrilling and knowledge intensive session for the students and faculties.