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T H E

M A G A Z I N E

F O R

A N G L O - F R E N C H

FRENCH CHAMBER OF GREAT BRITAIN  www.frenchchamber.co.uk

B U S I N E S S

NOVEMBER / DECEMBER 2017

HOW ARE DISRUPTORS DRIVING THE FUTURE OF LUXURY? ALSO IN THIS ISSUE:

Interview with French Ambassador Jean-Pierre Jouyet Five minutes with Vismay Sharma, Managing Director, L’Oréal UK & Ireland Luxury sector analysis with Michael Ward, Luca Solca, Alexandra Palt and much more...


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EDITORIAL

Estelle Brachlianoff President, French Chamber of Great Britain Senior Executive Vice President of Veolia UK & Ireland

A

s we move into the busy autumn season at the Chamber, I’m delighted to welcome you to a very special issue of INFO.

Designed to accompany our London Luxury Think Tank, the first event of its kind in the capital, this

issue is the perfect companion to the conference, offering even more access to industry experts and analysis of the key trends affecting the luxury sector. According to a Walpole whitepaper, the luxury sector accounts for 8 percent of total UK exports and is growing faster than 10 percent each year – with emerging markets like China, Russia and the UAE driving growth. Reports show that customers in these regions have increased their spending by 70 percent – compared to 53 percent in more mature markets in Europe, America and Japan. The world’s top one hundred luxury companies report average annual sales of roughly £1.6bn. Also, customer attitudes and expectations are changing rapidly and reflect new digital appetites and a greater focus on ethics in their purchasing habits. In this issue we examine developments and innovations in the luxury sector, including features on ecological, technological and business questions at the heart of the industry’s transformation. Industry experts weigh in on the way the next generation of consumers think about sustainability, and how sustainable corporate practices are redefining how businesses look to create long term value. We look into the future tech which is set to become the driving force of the luxury sector’s customer experience. On the theme of new business models, we ask how the luxury sector is looking to build long-term profitability in an industry where traditional country-led or channel-led strategies are no longer the key drivers of luxury spending. Finally, we investigate how customer attitudes and behaviours are evolving – customers who are more connected and environmentally aware than ever before. These future customers defy the preconceptions of emerging luxury markets and are setting a new direction for growth. As always, INFO is brimming with news from our member companies, as well as reports on the important work of the Chamber, including summaries of our Forums & Clubs and Events. This issue also features a welcome interview with the French Ambassador, Jean-Pierre Jouyet, where he speaks about his priorities and his vision for the future of Franco-British relations, as he steps into his new role in London. I hope you enjoy reading this special issue. I

info

- november / december 2017 - 7


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27

HOW ARE DISRUPTORS DRIVING THE FUTURE OF LUXURY?

10

CONTENTS

22

24

58

INFO

T H E

CULTUR E AND LIFE S T YLE

BUSINE S S WOR LD

38 39 41 42

Five minutes with... Vismay Sharma, L'Oréal UK & Ireland Brexit: Analysis and Key Dates Brexit: Border Patrol Company News Start-up and SME News Education news

FOCUS | LUXURY 24 26 27 28 29 31 33 34 35 36

AT THE CHAMBE R

22

Infographic Luxury: The Challenges Ahead Luca Solca, Exane BNP Paribas The Power of Luxury Interview with Michael Ward, Harrods Inclusive Exclusivity Diana Verde Nieto, Positive Luxury Towards a Sustainable Future Interview with Alexandra Palt, L'Oréal Future Retail Technology Adriana Goldenberg, Holition Experiential Interiors Interview with Victor d'Allancé, Devialet 'A Pleasure Obtained Only Rarely' Sylvie Freund-Pickavance, Value Retail China in the Digital Age of Luxury Sébastien Badault, Alibaba Group Luxury Online Retail: Legal Issues Bonita Trimmer, Browne Jacobson LLP

45 47 48

Introduction by Florence Gomez French Chamber News Brexit Survey 2017 New members

NOVEMBER / DECEMBER 2017

12 14 15 17 20 21

Culture: What's on Book reviews Lifestyle: Eat, Drink, Stay Cheese & Wine

F O R

A N G L O - F R E N C H

B U S I N E S S

NOVEMBER / DECEMBER 2017

HOW ARE DISRUPTORS DRIVING THE FUTURE OF LUXURY? ALSO IN THIS ISSUE:

Interview with French Ambassador Jean-Pierre Jouyet Five minutes with Vismay Sharma, Managing Director, L’Oréal UK & Ireland Luxury sector analysis with Michael Ward, Luca Solca, Alexandra Palt and much more...

Managing Director: Florence Gomez Editor: Jakob von Baeyer Cover & Graphic Design: Katherine Millet Editorial Assistant: Sophie Achary Sales Manager: Suzanne Lycett

FORUMS & CLUBS

51 Start-up and SME Club Be Your Own Brand 52 Retail Forum Digital vs. Bricks and Mortar 53 HR Forum The Benefits of Flexible Working 54 Climate Change & Sustainability Forum Site Visit: Olympic Park 55 Climate Change & Sustainability Forum Wind and Solar in the Energy Mix 56 Digital Transformation and Innovation Forum. Platforms: The New Business Model

Contributors: Luca Solca, Adriana Goldenberg, Sylvie Freund-Pickavance, Diana Verde Nieto, Sébastien Badault, Bonita Trimmer, Sophie Achary, Thibault Lavergne, Eric Charriaux

Advertise in INFO: Please call our sales team on +44 (0)207 092 6651. Alternatively, please email: advertising@ccfgb.co.uk INFO is published every two months Printed by: CPI Colour

CHAMBER EVENTS

57 Diner des Chef at Belmond le Manoir aux Quat'Saisons

Distribution: French Chamber members, Franco-British decision makers, Business Class lounges of Eurostar, Eurotunnel and Air France in London, Paris and Manchester

58 Trade Delegation to Dublin 60 Breakfast with Fabienne Viala, Bouygues Uk 61

M A G A Z I N E

FRENCH CHAMBER OF GREAT BRITAIN www.frenchchamber.co.uk

HOW ARE DISRUPTORS DRIVING THE FUTURE OF LUXURY?

10 Interview: HE Mr Jean-Pierre Jouyet

Past event highlights Rendez-vous chez The Wesley; International Wine Tasting; Rendez-vous chez Ladurée; Rendez-vous chez Joseph

INFO is published by: French Chamber of Great Britain Lincoln House, 300 High Holborn London WC1V 7JH Tel: (020) 7092 6600 Fax: (020) 7092 6601 www.frenchchamber.co.uk

62 Forthcoming events

info

- november / december 2017 - 9


AMBASSADOR'S BRIEF

HE Mr Jean-Pierre Jouyet ‘When I hear people suggesting that France is actively seeking to poach businesses from London and punishing the UK for its decision to leave the EU, I have to say I disagree’

The new French Ambassador to the UK discusses his priorities and challenges in the context of Brexit and Franco-British relations What are your priorities as you assume this new role?

tariffs to the sale of goods. Uncertainty around staffing, in

My main mission is undoubtedly to maintain and enhance

particular, and the ability of EU citizens to continue working

the Franco-British relationship in the challenging context of

in the UK is naturally causing significant concern.

Brexit. We share historical ties, and cooperate across every

This is making it difficult for businesses and individuals

sector: business, education, research, science, arts and

to organise themselves and start making the necessary

culture, to name but a few. I aim to develop this relationship

arrangements to prepare for Brexit. Our role as a diplomatic

as much as possible.

mission is to listen to, communicate with, and advise our

My mission also entails representing and serving the

citizens and companies through what is a very challenging

many French citizens who call the UK home. Brexit has led

period for them. We also aim to relay their concerns to the

to a very uncertain climate, and it is vital to support their

French authorities to safeguard their interests throughout

interests and needs in the short, medium and long term.

the process.

What part of the job are you most looking forward to?

What kind of Brexit would most benefit France?

Travelling across the UK to discover its countries in all their

No Brexit would ‘most’ benefit France. We must respect the

diversity.

democratic decision of the British people, but are sad to see

London and Edinburgh are the two cities I know most, and I have already been to Manchester since taking up

the UK leave the European Union. While our relationship must change, it is clear that our

my post. However, I am eager to visit Wales and Northern

ties are too important to sever. The UK accounts for France’s

Ireland, and see more of England and Scotland.

number one global trade surplus, and France is the UK’s

There are French interests everywhere in the UK, and it

third-largest trading partner. So the Brexit we would most

is also important to bear in mind that you cannot grasp the

welcome is the one least detrimental to the relationship we

complexities of the UK by only being familiar with London.

currently have.

You have obviously come to Britain at a time of great

What are the current perceptions of Brexit amongst the

uncertainty around the EU negotiations. What are the

French establishment? Amongst the French people?

main challenges of the Embassy in this capacity?

To be very honest, Brexit is not uppermost in French people’s

Our main challenge is just that: dealing with uncertainty.

minds. While we acknowledge that Brexit is now a fact, and

It is difficult to prepare for Brexit or inform our citizens of its impact when there is such a lack of consensus in the UK concerning Brexit. From an economic perspective, the stakes are high, as Brexit affects every single aspect of business, from import 10 - info - novemberr / december 2017

will indeed happen, it isn’t our priority. Nationally, the French are more focused on domestic reform plans, mainly to liberalise and modernise our economy. The labour law and tax reforms, for instance, aim to streamline business regulations and practices, and


HE MR JE AN - PIERRE JOUYE T

help make France a more attractive place for international

decision to leave the EU, I have to say I disagree. What we’re

investment.

doing is making ourselves more attractive for business in

At the European level, France’s priority is to deepen integration. As outlined by President Macron in his recent

general. If that appeals to banks and other firms who feel the need to leave London because of Brexit, then so be it.

speech at the Sorbonne, we aim to extend European cooperation in many sectors - notably defence, security and

What, in your view, is the future for Franco-British

the economy. We have a vision of what we’d like to see the

relations?

EU evolve towards by 2024, and will work with our partners to

I view our future relations as very close and fruitful. As I said

see what can be achieved.

earlier, our ties go back centuries. We cooperate in many sectors and are key trading partners. In the face of growing

Is there an opportunity for Paris to develop its financial

challenges such as terrorism and security, it is perhaps more

services industry, with banks and firms threatening to

important than ever for us to work together to protect our

leave the City?

common interests.

Of course there are opportunities, but there are opportunities for many other European cities as well. Brexit

I’m therefore optimistic about the future of this relationship.

brings change, and change opens doors. Dublin, Frankfurt, Amsterdam, Paris and other centres are putting themselves

What most interests you about British culture?

forward to host businesses and employees looking to

Many things. The UK has such a rich and diverse cultural

relocate as a result of Brexit.

heritage.

One point is very important to clarify, however. France is implementing an ambitious programme of reforms, particularly economic ones. This was the main platform on

I love British literature, from Austen and Dickens to Doyle and Boyd, many of my favourite writers are British. I am also a huge fan of rugby and football, and the UK

which President Macron was elected. So when I hear people

boasts a large number of world-class teams for both. And I’ve

and reporters suggesting that France is actively seeking to

always wanted to attend Wimbledon, and I look forward to

poach businesses from London and punishing the UK for its

visiting the historic All England Club at the first opportunity. I

From left to right: French Ambassador to the UK HE Mr Jean-Pierre Jouyet, Mayor of London Sadiq Khan, and French member of parliament Benjamin Griveaux at London City Hall

No Brexit would ‘most’ benefit France. We must respect the democratic decision of the British people, but are sad to see the UK leave the European Union info

- november / december 2017 - 11


5 minutes with...

Vismay Sharma Managing Director UK & Ireland at L'Oréal

Vismay Sharma started at L’Oréal India in 1994 and has held a number of important jobs at the global beauty brand. He became MD of L'Oréal UK & Ireland in 2016. Tell us about L’Oréal UK & Ireland. Where does it

We are leaders in driving the scientific knowledge of skin

currently stand in the beauty/luxury market?

and hair around the world, and we enhance this by listening

From a global perspective, L’Oréal is the world’s largest

to and observing consumers on every continent, where

beauty company, with over 89,000 employees working in 140

beauty is concerned.

countries around the world. Here in the UK and Ireland we employ more than 4,700

Here in the UK, we spend thousands of hours interacting with consumers across the country. This research allows us

people, including more than 2,000 beauty advisors in stores

to fine tune our products to the needs of our consumers

up and down the country. Last year, L’Oréal UK & Ireland

and has led directly to some of the company’s most

broke all records, growing in double digits and generating

successful launches, like the True Match foundation, where

more than £1bn in sales, making us the company’s number

we significantly enhanced the shade offering as a response

four subsidiary and further reinforcing our number

to consumer demand. Earlier this year, we launched a new

one position in the UK market. I believe that our great

Garnier skincare line with 96% natural ingredients, and a

performance in the UK is a result of our obsession with

simplified, transparent ingredient list on the back. This is a

putting the consumer at the heart of everything we do. We

first in mass market and is a direct response to the growing

work hard to understand their beauty aspirations. We follow

trend of natural products and the consumer appetite for

how, when and why they shop for products. And we uncover

transparency on ingredients.

who influences them in social media. With this we can better harness the power of our brands, embrace relevant

Your partnership with Founders Factory has focused on

social media influencers and platforms, and maximise the

innovating in the digital space. What are the objectives of

opportunities of precision advertising and e-commerce.

this incubator and which start-ups are you most excited about?

L’Oréal invests roughly €800m per year on Research and

The Founder’s Factory is a London-based tech accelerator

Innovation globally, what are your priorities in these

and incubator, and I’m really excited that L’Oréal is their sole

areas?

beauty partner. This will help us deliver a new company plan

Most people are unaware that L’Oréal was founded by a

to support five new beauty start-ups every year, providing

young scientist called Eugene Schueller more than 100 years

hands-on operational support and mentoring; bringing our

ago. For that reason, innovation has always been part of our

century-old beauty passion and expertise; and providing

DNA, and the company’s success has been based on a strong

access to marketing teams, R&D and digital expertise.

connection between science and marketing. 12 - info - novemberr / december 2017

Earlier this year we announced our first 5 partners,


5 M I N U T E S W I T H : V I S M AY S H A R M A

The biggest change in beauty, like a number of other sectors, comes from the ability of consumers to have a dialogue with brands. The level of engagement has increased significantly, at the same time demand on performance, transparency and personalisation has also increased which included projects as diverse as a unique personalised

engagement as well as taking on board consumer feedback

natural skincare range and a new platform to connect beauty

through our advice channels. With partnerships such as

consumers, brands and retailers. My particular favourite

Founders Factory and our own digital transformation, we can

example involved using a smartphone app together with

stay ahead of the market and inspire growth in all aspects of

a ‘Nailbot’ printer to print unique art, emojis, pictures and

the business.

designs directly onto your fingernails. We will be shortly announcing our new round of partners –

Who or what is disrupting the UK beauty sector now?

so watch this space!

The biggest change in beauty, like a number of other sectors, comes from the ability of consumers to have a

What does L’Oréal have planned in the UK/Ireland

dialogue with brands. The level of engagement has increased

market? What kind of growth do you envisage?

significantly, at the same time demand on performance,

The UK market is a strategic market not only because of its

transparency and personalisation has also increased.

size but also because of the influence the country has on

Advances in personalisation and digitalisation are at the

trends, beauty and fashion. We are convinced about the long-

forefront of change in the beauty industry. Brands such as

term stability and growth of this market despite uncertainties

NYX Professional Makeup and Kerastase are the leaders

in the short term. This is clear from the popularity of new

in bringing technology to the sector and using it to engage

products we bring to market as well as the loyalty we have

with consumer on a personal, detailed level. When brands

from our consumer base. We have been growing our market

embrace changes in technology they are able to speak more

share for a number of years, even growing faster than the

easily to their client base and expand into new markets.

beauty market, and are certain that we will be able to do it next year as well. We pride ourselves on our agility and ability

What does being a Patron member of the French

to react to changes in the beauty sector. For example, based

Chamber bring to L’Oréal UK?

on a consumer feedback, we have extended the range of

As a French company with a prominent market based in the

colours available in our True Match Foundation by L’Oréal

UK, it is beneficial to create partnerships and gain insights

Paris from 23 to 28, which now match 98% of UK skin tones.

into UK and French business. The connection between

We are constantly listening to what our consumers want and

the UK and France is of the utmost importance and we

need, and we plan accordingly.

fully understand the significance of networking with other

Our data and analytics team work carefully to discover what

companies in a similar position to ourselves. I

consumers are buying but also the lead up to a purchase.

Interview by JVB

This ranges from analysing search data to social media

The UK market is a strategic market not only because of its size but also because of the influence the country has on trends, beauty and fashion. We are convinced about the longterm stability and growth of this market despite uncertainties in the short term L’OR É A L UK & IR EL A ND - BY THE NUMBERS • Staff: 4,700

• Sales (2016): £1bn

• In-store beauty advisors: 2,000

• UK market position: 1

info

- november / december 2017 - 13


Analysis and look ahead INFO looks at the latest news on Brexit and its impact on the Franco-British community

A

s both parties entered the fifth round of talks, the amount

respondents think it is right to leave the EU, while 47 percent

of the so-called ‘divorce bill’ was still being contested by

favour remaining. There was a seven point swing, in terms of

the UK. According to an unnamed former EU Ambassador – as

leave voters who now say that they made the wrong decision.

reported by the FT – the British were standing firm on their offer

With the main party conferences now behind us, growing

to pay only one third. This was seen as holding up progress,

divisions are also apparent on the party political level. The

including the planned progression to discuss issues of trade.

Labour conference attempted to side step the issue by avoiding

Not to mention that no concrete decisions were reached on matters of the rights of EU citizens in Britain and the question of

a debate. They ended up voting to back the official party line where ‘remaining in a customs union could be one outcome.’

the Irish border. The Guardian reported that the UK Treasury is ‘putting cash aside’ in the case of a ‘no deal’ Brexit.

The Tories had a tougher time, as Boris Johnson was accused of undermining the Prime Minister by openly advocating for a

There was a sliver of good news for British business, with

quick clean break. One of his adversaries in the Cabinet, the

reports emerging that the 27 remaining member states of the

Chancellor Philip Hammond, wants a lengthy negotiation and

EU have signalled their readiness to discuss trade talks with

a final deal as close to a customs union as possible, to limit the

Britain, despite poor progress elsewhere.

impact on business.

Yet the prospect of Brexit becomes less appealing to the

The Prime Minister was famous for saying that ‘Brexit means

British people. The latest YouGov poll found that 42 percent of

Brexit’ – but these days, it’s anyone’s guess what it means. I JVB

Key dates WTO Ministerial Conference

European Council Meeting

House of Commons Christmas Recess

Buenos Aires, 11-14 December 2017

Brussels, 14-15 December 2017

London, 21 December 2017

This meeting of WTO members can rule

The EU hoped that the first stage of

Negotiations will have wrapped up until

on multilateral trade agreements, which

negotiations would be concluded by the

the New Year. The House of Commons will

may help negotiations, as the UK and

end of the year – this important Council

return on 8 January, with Brexit set to be a

the EU have struck a first agreement on

meeting will decide if they are taken to the

key agenda item for the House.

WTO quotas.

next stage.

If you are sitting in the bar and you order 28 beers and then suddenly some of your colleagues [leave without] paying, that is not feasible. They have to pay JEAN-CLAUDE JUNCKER, President of the European Commission, on 13 October 14 - info - novemberr / december 2017

It is absurd to pretend that the process we are engaged in hasn't created some uncertainty. But the underlying economy remains robust PHILIP HAMMOND, Chancellor of the Exchequer, on 13 October


Border patrol Lara Robinson, Principal Policy Advisor (EU negotiations) of the CBI, and John Keefe, Director of Public Affairs for Eurotunnel Group, discuss government proposals for customs at the UK/EU border

T

he UK government has set out a position paper on customs and addressed the topic at a new forum made up of UK

business and industry associations in September, the latest Brexit Forum heard. Lara Robinson, Principal Policy Advisor (EU negotiations) of the Confederation of British industry (CBI), reported that the CBI has joined the Institute of Directors, the British Chambers of Commerce, the Federation of Small Businesses, and the Manufacturers' Organisation (EEF), to attend meetings with Chancellor Philip Hammond and Brexit Secretary David Davis. The paper proposes an interim, post-Brexit period where restrictions on goods and people moving between the UK and EU will not come into force. Yet it sticks to the government line that the UK will be leaving the customs union in March 2019. It sets out two options about what the UK relationship with the EU could look like. The first assumes that the UK is a third country to the EU, and there is a defined customs border. It discusses various options about how the process could be

We want to eliminate the need for customs checks and for the government to deliver on their promise of frictionless trade at the border

streamlined, to ensure that delays and friction at the border are kept to a minimum. The proposal includes a mixture of digital

light of the EU referendum, industry has expressed concern

solutions and trusted trader schemes, such as Authorised

that tariffs and customs imposed on these goods will have a

Economic Operator (AEO) schemes.

direct impact on their supply chains, and on their ability to get

The second option also assumes that the UK has left the EU

goods delivered quickly and on time.

customs union, and that it has its own trade policy, but that the

‘The supply chains which run across Europe, and come into

UK operates the EU’s external border for the EU. Goods that

the UK, are all geared to delivery within short time slots,’ says

come into the UK, destined for the UK, will be treated under

Keefe. ‘This is in order to keep the industries they are serving at

UK trade policy. The second level would involve the goods that

maximum capacity, and includes courier and express, internet

transit via the UK to the EU market, where the UK would apply

retail, perishable goods, automotive, and medical treatment,

the EU tariff and rules, eliminating the need for a customs

particularly radioactive isotopes for cancer treatment which

border between the UK and the EU.

might have a half life of several hours.’

‘Option two is closer to what we want to see happen. We

Keefe’s message to the government: don’t disrupt the traffic

want to eliminate the need for customs checks and for the

flow. ‘If you disrupt the traffic flow, you’re disturbing £100bn of

government to deliver on their promise of frictionless trade at

trade through the channel tunnel and something in the region

the border,’ says Robinson.

of £120bn through the ports of Dover and Calais. That is not just UK money, it is money shared amongst EU countries.’

Achieving a viable solution by March 2019 is a seemingly impossible task

Eurotunnel has begun work on a border automation system, developing e-gates for trucks with the UK Border Force. The project, which has completed a pilot phase and received approval from the Home Office, uses biometric and RFIDs cards

Eurotunnel: a case study

to connect drivers to their passports in a virtual space.

The Channel tunnel has never worked in a customs environment,

But this programme, which took five years to get to pilot phase,

as its 1994 construction occurred after the EU customs union

and only addresses one aspect of border traffic, demonstrates

was established. John Keefe, Director of Public Affairs for

that achieving a viable solution by March 2019 is a seemingly

Eurotunnel Group, reported that more than £100bn of trade

impossible task.

travels through the tunnel every year, amounting to 25 percent

‘Unless the negotiations take a different turn, we don’t believe

of the UK’s total trade with the EU.

that we will have the same freedom of movement for goods

This amounts to more than 1.7 million trucks this year; and in

after Brexit is completed,’ says Keefe. I

The next session of the Brexit forum will take place on 13 November, with guest speakers Sir John Grant, former UK Ambassador to the EU and James Dowler, Deputy Director, Department for Exiting the EU. info

- november / december 2017 - 15


INNOVATIVE OR

IMPERIAL

Don’t settle for black and white For the full perspective, turn to the Financial Times


NEWS

A ND

A N A LY S I S

BNP Paribas launches new phase of their start-up accelerator BNP Paribas' Plug and Play, a leading fintech and insurtech acceleration program, has unveiled the start-ups who have progressed through ‘proof of concept’, as well as eleven start-ups joining for the second round of their Paris-based accelerator program. First round companies include Birdycent and Miracl with BNP Paribas Personal Finance; DreamQuark with IFS Risk, IFS Compliance and Wealth Management; Savedo with BNP Paribas Fortis; Dunforce with Cash Management; SBDA Group with BNP Paribas Switzerland; OneUp with BNP Paribas BDDF and Vizru with Cardif. Sonect is currently discussing collaborations with different business partners. The eleven new start-ups have completed the pitch stage, and have been selected by the Business Lines to attend the second round of the programme. They include: BehavioSec, Cryptomove,

Grakn,

Inbenta,

Invoxis,

MatchUpBox,

MondoBrain, Paytweak, Scanovate, ViaSema, Voxo. I

ENGIE and EDP Renováveis awarded Scotland wind farm project EDP Renováveis, S.A. and ENGIE has announced that Moray Offshore Windfarm (East) Limited, a joint venture company currently owned by EDPR (77%) and ENGIE (23%), has been awarded a 15-year Contract for Difference (CfD) for the delivery of 950 megawatts of offshore wind generation at £57.50/MWh (in real 2012 terms). The contract was awarded by the UK’s Department for Business, Energy & Industrial Strategy following its latest CfD auction. EDPR and ENGIE are jointly developing this project, which is located off the north-east coast of Scotland. Upon conclusion of the development phase and the selection of all partners and suppliers for the different stages of construction and operation, the project would then move towards the construction phase. Completion and the commencement of commercial operation are expected in 2022. I

AXA revamps Motor Trade SME offering

UBS launches sustainable investment products

UBS Investment Bank is launching a series of breakthrough

AXA Insurance has revamped its motor trade SME product

investment products aligned to the 17 UN Sustainable

by introducing a range of new policy elements including no

Development Goals (SDGs). A pre-defined portion of revenues

claims bonus protection. As part of the changes, SME motor

will be donated as philanthropic contributions, managed by

traders can also get cover for misfuelling, including fuel

the UBS Optimus Foundation, their dedicated philanthropic

removal and replacement and subsequent damage repair, as

foundation.

well as hotel expenses and alternative transport if your vehicle

The new products will be linked to sustainability and

is no longer roadworthy following an accident and you can’t

impact-screened indices based on various themes directed

complete your journey. In addition, the policy includes cover

at specific investor groups. Among the themes will be a

for leased vehicles, which covers the difference between the

global sustainability index, a social equality-based LGBTQ

insured value and the contract settlement figure if the vehicle

investment index, and an index linked to the environment and

is written off. I

clean energy. I

info

- november / december 2017 - 17


BUSINE S S WOR LD – NE WS AND ANALYSI S

Lacoste acquires Tecnifibre

Lacoste has agreed to acquire French racquet and string manufacturer Tecnifibre. The purchase price was undisclosed. Lacoste will acquire an 80 percent stake and the deal is expected to close in October. Tecnifibre is best known for its strings, and has started gaining traction with its racquets and accessories, such as its growing line of tennis bags, apparel and balls. ‘We are pleased to announce the arrival of the French brand Tecnifibre into our group,’ said Thierry Guibert, CEO of Lacoste. ‘Tecnifibre is an authentic specialist in the field of tennis with recognised knowhow.’ I

JCDecaux signs a strategic partnership with Startup Flow

JCDecaux SA, the number one outdoor advertising company worldwide, and Startup Flow, a French start-up specialising in facilitating innovation flow within large groups, announced a strategic partnership. With a view of speeding up efforts to structure its Open Innovation initiative, JCDecaux is launching an exclusive innovation steering solution in conjunction with Startup Flow: an internal, collaborative platform for managing, qualifying and sharing start-up sourcing within the Group. The tool will enable JCDecaux to compile performance indicators for managing all initiatives, monitor project development and bring together employees who are driving change within the organisation.

DS Automobiles announces new range, including an electric SUV

DS Automobiles – who produces the DS 7 Crossback SUV – have announced impending product launches, including a ‘baby’ SUV and a fully-electric powertrain version. Stéphane Le Guével, head of the company’s British operation, confirmed the introduction of a subcompact B-segment SUV that will compete against models such as the Audi Q2 and Mini Countryman, among others. ‘The [small car] market is going towards small SUVs rather than three doors. So there will be a different offering [than the DS3 supermini],’ said Le Guével.' I

Saint-Gobain announces innovation in insulating glazing

Saint-Gobain has announced the releases of the ECLAZ range, ®

a new generation of enhanced insulating glass for the European construction market. As a result of this breakthrough technology, ECLAZ® provides a unique market offer, which combines energy savings with improved comfort thanks to a significant increase in daylight gain. The result of eight years of research and development, this eco-innovation is at the heart of Saint-Gobain’s action for sustainable development. I

18 - info - november / december 2017

Mazars launches Catalyst programme to accelerate fledgling businesses

Mazars, the international accountancy and advisory firm, announces the launch of ‘Catalyst,’ a university incubator start-up business programme that facilitates and accelerates growth potential of fledging businesses. For the inaugural year of the programme, Mazars will be partnering with two universities - Cranfield and York - and will be working alongside them to support incubated start-ups. Those start-ups that become part of the Catalyst programme will have access to a number of benefits including one-to-one mentoring, access to funders, business networks, seminars, business performance review and much more.


NE WS AND ANALYSI S – BUSINE S S WOR LD

Thales invests in UK-based trials and training centres

Pinsent Masons advises on NHS Trust merger

Unmanned Warrior exercise in 2016, Thales is now investing

Hospitals Birmingham NHS Foundation Trust, one of the

in two trials and training centres based in West Wales and

pre-eminent NHS trusts, nationally and internationally, on

in South-West England to test and develop autonomous

its successful bid for a merger with Heart of England NHS

systems for both military and civil activities.

Foundation Trust.

Thales will invest £7 million across the two regions, and

The merger involves the two largest NHS acute trusts

sustain around 60 jobs in the local areas. There are 500 jobs

in Birmingham, requiring a careful assessment of the

in Thales and their supply chain, which supports current and

substantial benefits which the merger would realise for the

future autonomous and unmanned systems technologies.I

surrounding population against any perceived reduction in

Following Thales’s successful trials during the Royal Navy’s

International law firm Pinsent Masons has advised University

choice for patients. I

SPIE awarded building services contract for Heathrow Airport SPIE UK has been awarded a contract to deliver lighting,

small power, heating, ventilation and air conditioning, and

Sopra Steria awarded place in UK government tech framework Sopra Steria has announced they are awarded a place in

building management system upgrades to the new Hold

all four lots of the new Technology Services 2 framework,

Baggage Screening room at Heathrow Airport’s, Terminal

run by the Crown Commercial Service in the UK. This new

3 Integrated Baggage Building. This new improved facility

Framework is important, as it is available for use across the

means the baggage screening operations from Terminals

Public Sector. In addition, the breadth of services covered

1, 2, 3 and 4 can be integrated into one central space. The

enables suppliers to support customers throughout their full

contract, valued at £745,000, was completed in October

technology lifecycle, from initial strategy and design through

2017. I

to programme implementation and on-going support. I

Promotional feature

A landmark £10 million public realm redevelopment for Bond Street to secure its future as the world’s top luxury and retail destination

On behalf of Bond Street, New West End Company would like to thank Westminster City Council, Transport for London and the Bond Street brands for their work in driving forward a major £10 million public realm improvement plan which will radically transform the streetscape of Bond Street. With works already well underway and due for completion at the end of 2018 in time for the opening of the Elizabeth Line, it is set to be the most ambitious scheme that Bond Street has seen in over 30 years. Phase 1 completion: Winter 2017 The project aims to significantly enhance the experience for pedestrians, while still allowing traffic on the street. Phase 1 – which is due for completion by the end of 2017 – runs from New Bond Street to Grafton Street and includes the pedestrian area where the ‘Allies Sculpture’ can be found. The transformation includes the widening of footpaths and an introduction of York stone, green granite and silver granite paving to replace the ‘patchwork’ carriageway and cracked footway paving. These improvements will be mirrored across the carriageway and footpaths of the entire stretch of New and Old Bond Street. www.newwestend.com

The newly restored ‘Allies Sculpture’ one of Bond Street’s most significant landmarks – will also be revealed at the end of 2017 and will include the replacement of Churchill’s cigar. Jace Tyrrell, CEO of New West End Company: “Bond Street is unequivocally the centre of global luxury, home to the world’s greatest luxury brands from the French power brands to the British design houses; jewellers and art galleries where the annual spend exceeds over £1 billion. This re-development is part of an ambitious vision and major investment plan to deliver a new West End. We have worked closely with our partners and Bond Street brands to deliver a series of public realm improvements for Bond Street that will secure the street’s international success and create a truly globally competitive luxury environment”.


BUSINE S S WOR LD – SME NE WS

Eptica releases online UK Chat Study

T

he Eptica 2017 UK Chat Study surveyed 1,000 consumers on their attitudes to 'chat,' as well as evaluating 100 leading UK brands, throughout September 2017. It found that brands are failing to deliver on customer chat experience, with 72 percent of consumers saying that chat use makes them more loyal. The study combined consumer research with a real-world evaluation of chat use by UK brands. It also found that consumers are open to using artificial intelligence (AI) powered chatbots, but only in certain circumstances. Nearly a third (29 percent) is happy to get basic answers from chatbots, but 77 percent want to chat with a human when they have more complex queries. I

Ekimetrics partners with Facebook on marketing portal

E

kimetrics, the French global analytics consultancy, was chosen as a trusted thirdparty dedicated to increasing the reliability of advertising performance on Facebook networks. The Marketing Mix Modeling program (MMM), focuses on measuring advertising impact on Facebook, Instagram and the Facebook Audience Network. Ekimetrics will enable advertisers to acquire a better understanding of their media mix across channels, by quantitatively measuring the impact of advertising investments on sales and on the brand, as well as comparing investments between social networks by category, product, country and content. I

C4Ventures join Graphcore Series B funding

A

consortium of investors including C4 Ventures, Amadeus Capital, Robert Bosch Venture Capital, Dell Technologies Capital, Draper Esprit Plc, Foundation Capital, Pitango and Samsung Catalyst Fund have offered $30m (£23m) in Series B funding to UK chip designer Graphcore. The startup is designing chips specifically for artificial intelligence applications. In a statement, C4 Ventures said: ‘AI and machine learning in particular will be at the core of tomorrow’s platforms and software. Graphcore’s IPU (Intelligence Processing Unit) will power those systems and provide an uplift of 10-20x performance compared to traditional systems.’ I

Home in London marks two years of growth

H

ome in London, the real estate search specialist, celebrates the success of its first two years of operation

and continues its development. Founded in London in 2015 by Aurélie de Riberolles and Virginie Colonna Foschi, the

Left Productions rated top UK production company

L

eft Productions was ranked top UK video production company among UK advertising agencies by Clutch,

a B2B ratings firm based in Washington D.C. Clutch’s

company's business model guarantees its total independence

research covers thousands of advertising, creative, and

from real estate agencies and offers a personalised and

video production companies worldwide, and helps firms

complete service to an international

navigate the complex business services marketplace. Using

client base wishing to rent or buy

a proprietary research methodology, Clutch examines over

property in London. Co-founders

one dozen factors representing agencies’ ability to deliver

de Riberolles and Colonna Foschi

results. In a statement, Left Productions said: ‘We’re proud

comment:

‘We

that several of our clients have already taken the time to

customers

and

thank

all

partners

our who

speak with Clutch, leaving us 5-star reviews.’

have trusted us and highlight our

Left Productions will be partnering the London Luxury Think

knowledge of the London property

Tank, facilitating a flow of images on screens to greet guests

market and the quality of our

as they enter the main event floor, and bringing the various

service.’ I

brands to life through the digital medium. I

Co-Founders and Managing Directors: Aurélie de Riberolles and Virginie Colonna Foschi 20 - info - november / december 2017


E DUC ATION – NE WS

LVMH and HEC create academic programme in luxury management LVMH and the HEC Paris business school have signed a partnership agreement to create a Chair for General Management and Excellence in Client Experience, a teaching and research programme dedicated to luxury brand management. The Chair will draw on expertise from professors at HEC and the talents and engagement of managers from numerous LVMH Group companies. Chantal Gaemperle, Group Executive Vice President Human Resources & Synergies, said: ‘Retail figures at the heart of the LVMH Group’s strategy and offers career opportunities that students are not always aware of. Our customer advisors, buyers, visual merchandisers, trainers and managers are the front-line ambassadors of our Houses.’ I

Turenne Consulting to lead on first French international school in Montenegro

Université Paris Dauphine launches Economic Intelligence programme

The French Embassy in Montenegro has commissioned

Université Paris Dauphine’s programme is designed to give

Turenne Consulting to act as lead advisor for a new French

participants a deeper understanding of economic intelligence

international school. Following its independence in 2006,

and the role it plays in organisations. Economic Intelligence, a

NATO membership this year and continued negotiations to

broader based approach to competitive intelligence, provides

join the European Union, Montenegro is seeking to attract

essential strategic decision-making support to executives and

foreign investors. The creation of this school would constitute

managers. It helps them to better identify intangible risks and

a key milestone for this emerging economy and represent the

anticipate trends, it increases adaptability, and helps optimise

latest French educational structure in the Balkans following the recent completion of similar projects by private investors in Albania and Kosovo. I

“E ACH INDI VIDUA L CA N CONTR IBUTE TO A BETTER FUTURE. IMAGINE WHAT A COMPANY OF THOUSANDS OF INDIVIDUALS CAN DO.” François-Henri Pinault, HEC class of 1985 CEO of Kering (Gucci, Bottega Veneta, Saint Laurent, Balenciaga, Boucheron, Puma...)

Through all of its programs – Masters, MBA, Executive MBAs, PhD & Executive Education – HEC Paris School of Management teaches current and future leaders how to invent today the business of tomorrow. TOMORROW IS OUR BUSINESS

www.hec.edu

info

- november / december 2017 - 21


22 - info - november / december 2017


HOW ARE DISRUPTORS DRIVING THE FUTURE OF LUXURY? Luxury. The word itself conjures ideas of exclusivity, refinement and expense. It is still an open question how these ideas are adapting to a growing global customer base, transformations in the digital sphere, and a refined focus on ethical practices. With seventy percent of all luxury goods produced in Europe – and estimates that more than 60 percent of those goods are destined for export outside of Europe – it is a time of change and renewal in the dominant luxury industries in France, Italy, Germany and the UK. It is also a time for disruption and innovation, where smart solutions are vital for success. Technology will enable many solutions – in terms of new tech like AI, AR and VR, predicted to power 85 percent of retail activity by 2020. The luxury sector must equally maintain a physical presence, evolving from a traditional transactional model to one which is more experiential. The story that luxury tells has become as important as what it sells. Customer attitudes demonstrate a growing interest in transparency and information, and a sophisticated awareness of sustainable supply chains. The implications of these transformations are discussed, argued and explored in the pages that follow, with a focus on the picture in the UK and an eye on global trends. We aim to shed light on the industry’s disruptions and innovations as luxury prepares for the future. I JVB

info

- november / december 2017 - 23


THE

LUXURY SECTOR IN THE UK £32bn EMPLOYS: 13,000 ACROSS THE UK TAX CONTRIBUTION: £5.2bn EXPORTS: £25bn (78 PERCENT OF TOTAL PRODUCTION) TOTAL TURNOVER:

Source: Walpole

The UK luxury goods sector has grown faster than the UK economy over the past decade, markedly outperformed the UK economy through the recession, and continues to grow despite global economic uncertainty – Walpole, Thriving After Brexit, March 2017

TOP 10 LU X U RY FA SHION, BE AU T Y, FO OD & BE V E R AGE BR A N DS IN T HE U K

Revenue £m 2,523 933

T HE BR I T ISH 'PL AT E AU'

921

Despite consistent growth, British luxury brands struggle to make it over the £100 million revenue mark, as compared to their French, Germany and Italian counterparts

567

Number of brands with +£100m turnover per country:

300

France: 55

203

Italy: 47

181

Germany: 30

UK: 16

167 149

Source: McKinsey

109 Source: McKinsey, company reports, press

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MOS T IM P ORTA N T DR I V E R S OF GROW T H OV E R T HE PA S T F I V E Y E A R S

% respondents answering important or very important Source: McKinsey survey of Walpole members

U K L E A DING ON L IN E LU X U RY SA L E S GLOBA L LY

The UK has the highest penetration of online luxury sales globally with 11% Source: McKinsey, Altagamma

BR I T ISH LU X U RY IN DUS T RY T U R NOV E R BY SU B - SEC TOR

Source: McKinsey survey of Walpole members, Frontier Economics

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- november / december 2017 - 25


LUXURY: The challenges ahead China is no longer a land of easy pickings and the internet is proving more than just another distribution channel. Luca Solca, Managing Director Global Luxury Goods at Exane BNP Paribas, argues that succeeding in the new world of luxury creates a whole new set of organisational imperatives

T

he rise of an army of new Chinese luxury consumers

For a relatively small outlay, the extended reach, sales

made possible a growth model predicated on fast retail

conversion and spend can bring strong returns. For some

expansion, high price inflation and stable offerings of

companies, digital distribution is a simple way to venture into

iconic products. This model no longer works. The Chinese luxury market is changing at breakneck speed, as consumers move rapidly down the learning curve. They still outspend their western counterparts by a factor of

markets previously considered impervious or fragmented. All this comes with a flood of data at multiple levels. If mined properly - and the tools exist - it can bring handsome rewards along the entire value chain.

five-to-ten times more – but growth has taken a sharp dive and

The internet today also offers an economically viable

is now more muted than it was just a few years ago. The middle-

distribution stratagem for small brands. The high price umbrella

class Chinese consumer has far less discretionary spending

of luxury players and their high gross margins have often

power than the wealthier earlier adopters, whose wardrobes

attracted challengers. The difference is that there is now more

are bursting with Louis Vuitton Speedy bags, Hermès Kelly bags

competition in all product categories, and that digital-native

and other iconic luxury items.

challengers are in a position to survive for the first time.

In this environment, continued network expansion with product offerings dependent on old ideas, with no prospect of

Magnified shortcomings

a return to high price inflation, would be a recipe for financial

For the big brands, the danger is that the internet holds a

disaster.

magnifying glass to one of the industry’s big shortcomings: its

The e-commerce question

lack of price discipline. High dependence on wholesale, grey market activity, promotions and off-price sales mean that

The internet has been around for so long that we have a

price ‘cheating’ could go relatively unnoticed. Today, a brand’s

generation of managers who have known nothing else. But I

perceived exclusivity can be dispersed with a quick look at

fear that much of the luxury industry still sees the net as just

Google. Brands that want to stay strong in the long-term have a

another sales channel.

lot of homework to do. Tackling these challenges puts the onus on the organisation.

It is no longer sufficient to have a creative genius on your books if your processing, market intelligence and merchandising is second rate

It is no longer sufficient to have a creative genius on your books if your processing, market intelligence and merchandising is second rate. Innovation, speed and execution consistency are crucial. Great products are no good if they do not reach the stores when they are needed, or if they are not priced correctly and are drowned out by the iconic brands.

Increased complexity The complexity of running a luxury goods business is increasing. Faster product cycles; retail effectiveness in the four corners of the world; splintering communication channels; digital distribution and communication; new competition; demand for transparency; more sophisticated consumers — all of these elements demand the ability to recruit and nurture a much larger and diverse talent pool. This could leave the smaller luxury players at a structural disadvantage. Developing organisation environments that attract high-calibre talent is an ever more crucial competitive weapon. In this new area of luxury, organisations need to react quickly – and strategically – to these challenges to traditional ways for working. I

26 - info - november / december 2017


HOW AR E DI SRUP TOR S DR IVING THE FUTUR E OF LUXURY ? – FOCUS

The power of LUXURY As Chairman of Walpole and Managing Director of Harrods, Michael Ward has a unique position atop the world of British luxury – an industry whose soft power is its greatest asset

H

arrods, the iconic London department store, is the quintessential palace of

luxury – from its 4.5 acres of dazzling interiors to its 330 departments, which sold more than £2bn of luxury goods last year. But there is something else on show, which may not be immediately apparent to the more than 15 million people who visit the Knightsbridge shop each year. According to Michael Ward, Managing Director of Harrods, the often overlooked aspect of the luxury sector is its soft power – the heritage and creativity which underpins what the industry makes, how it attracts customers, and how it sells. ‘What we are actually selling is that dream. We’re not selling

A return to authenticity

a Fendi bag; we’re selling something that the Fendi’s sewers

For Ward, the current appetites of luxury customers mirror the

stitched, and we’re selling the history of the bag. It is such an

shift in the industry towards authenticity.

important part of what we are trying to do,’ says Ward.

‘What I think we saw originally was this great explosion in

This soft power is almost exclusively European, as more

luxury where, if I’m honest, a little bit of the authenticity

than 70 percent of luxury goods are produced in Europe. Yet,

disappeared. Then when hard economic times came, people

60 percent of those goods are exported abroad – representing

realised that they really had to give intrinsic value to a product.'

roughly 16 percent of total European exports – demonstrating the global appeal of European luxury brands. ‘It’s a heritage and creativity that isn’t easily copied. You can’t suddenly start a Chinese brand with the history, culture,

Now customers place greater importance on the absolute quality of the product, its lineage, and ensuring that it was produced in an ecological, sustainable way. How does a bricks-and-mortar retail stay relevant in this

refinement and creativity of something like Gucci,’ says Ward.

new age, where brand and product transparency are easily

‘You cannot recreate Chanel, or the history of Chanel. It is so

delivered in a digital selling environment?

deep-rooted; you wouldn’t aspire to a modern brand in the same way.’ This is one of the central messages that Ward delivers in his role as Chairman of Walpole, the British luxury industry association, and as past President of European Cultural and

According to Ward, demand has not decreased for physical customer experiences. In the case of Harrod’s, he says that visitors can still expect ‘constant excellence in architecture and service,’ in tandem with their digital selling platform. ‘Part of our next generation investment is moving from a

Creative Industries Alliance (ECCIA), which brings together the

simple cash-and-wrap to a totally experiential process. That

five major European luxury industry associations.

means, we will still be selling online, but we shouldn’t forget

His past lobbying of the European Union involved showing how the soft power of the luxury industry translates to immediate advantages in global markets. ‘We showed them

that there is still a place for that customer who wants the ultimate experience,’ says Ward. For Ward, the luxury industry has a bright future – one

that the luxury sector and how it sells European heritage was

which is not blighted by the prospect of Brexit. ‘I think it’s

really important. We compared that to other industries, where

been a temporary factor, especially as luxury brands now

they were looking to invest, like the manufacturing of steel and,

have European pricing,’ says Ward. ‘Ultimately, we are going to

to lesser extent, cars. In these cases there is no comparative

reach a conclusion to how our supply chains work – it isn’t the

competitive advantage. These markets will simply go to South

greatest complexity in the world.’ I

Korea or the Far East,’ says Ward.

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- november / december 2017 - 27


Inclusive Exclusivity Behavioural shifts of the new generation have shaken the business landscape, forcing companies to adapt. Diana Verde Nieto, co-Founder and CEO of Positive Luxury, says that brands must innovate and engage, or be left behind

T

oday’s digitally savvy generation is more likely than their parents to interact with brands based on authenticity. According to the Varkey Foundation Global Citizenship

Survey 2017, 89 percent of young people globally say their parents influence their values a little or a lot. Yet the connection that technology allows them to have with the world at large influences their decision-making to a greater degree. One report by Deloitte found that 47 percent of Millennials say their purchasing decisions are influenced by social media. They demand transparency, information and shared values from their favoured brands, based on a sense of responsibility towards society and the environment. These strong opinions, held by Millennials and Generation Z, have a powerful cultural influence, which they are not afraid to share across digital platforms. According to Deloitte’s Global Powers of Luxury Goods 2016, young consumers dictate when, where and how they engage with brands. They act as critics and demand a more personalised experience. They want to feel as if they are part of a community whilst remaining individual and discerning about the choices they make. This concept of ‘inclusive exclusivity’ is a feeling that luxury brands need to meet in their offering.

The world is more interconnected and transparent than ever before, it is imperative that brands communicate authentically Selfridges. Consumers can easily see a brand’s ‘Positive Actions’

No longer limited to buying physical products, young

with a simple click of the Butterfly Mark – which brings them to

consumers would rather spend their time and money on

a dedicated website, www.positiveluxury.com. ‘Positive Actions’

experiencing connections with others, whether at interactive

offer an insight into a brand’s unique efforts and achievements

events, classes, meet-ups, or online. This presents a unique

as a responsible business, helping consumers shop with

opportunity for brands to communicate their positive narratives

confidence.

to consumers. But as the world is more interconnected and

As part of our own innovation strategy to prove the

transparent than ever before, it is imperative that brands

business case for sustainability, we developed an analytical

communicate authentically. With a single click, a brand can

dashboard that records consumer interaction with the

lose their reputation – and worse, consumer trust. Making

Butterfly Mark. Helping brands and retailers track a consumer’s

unsubstantiated or misleading claims is not an option.

engagement with their Positive Actions, it converts valuable

The Butterfly Mark

qualitative information about sustainability into numbers. This powerful tool lets consumers make authoritative statements on

Our mission at Positive Luxury is to inspire people to buy better

what business actions appeal to them, steering purpose-driven

and influence brands to do better. To this end, we created

innovation for brands.

the Butterfly Mark, an interactive mark that identifies a brand

When it comes to connecting with the future consumer,

as having been included in the Positive Luxury community of

brands must be authentic to add meaningful value. In order

brands to trust. It offers brand transparency at the point-of-sale

to foster loyalty and retention, a deeper experience around

in a consumer-friendly way.

the relationship between brand and consumer is a necessity.

To earn this trust mark, brands must pass a stringent annual

Innovative consumer offerings, responsible business practices

assessment that examines sustainability from a holistic point

and conscious leadership are imperative for brands to remain

of view; encompassing governance, social and environmental

relevant over time.

frameworks, philanthropy and innovation. The interactive mark has been adopted not just by best

The good news is that luxury businesses are listening and adapting fast. The world has changed, and the brands that will

in-class luxury brands, such as Forevermark, Krug, Kiehl’s

last are the ones prepared to meet future consumers’ changing

and Gabriela Hearst, but also by leading luxury retailers, like

expectations. I

28 - info - november / december 2017


HOW AR E DI SRUP TOR S DR IVING THE FUTUR E OF LUXURY ? – FOCUS

Towards a Sustainable Future Alexandra Palt, Chief Corporate Responsibility Officer and Chief Sustainability Officer, discusses L’Oréal’s success in transforming its corporate culture and supply chains to meet ambitious targets

L

’Oréal has an incredible

a new product is launched, it has to

sustainability story to

pass a rigorous assessment,’ says Palt.

 tell. Between 2005 and 2016, it

‘We also looked at the systematic

increased production volume across

and structural problems: why issues

its 34 brands by 29 percent, and in

of sustainability are not attracting

the same time frame, the company

consumers and employees sufficiently.

reduced its greenhouse gas emissions

We wanted to understand how to

by 67 percent, its water consumption

make sustainability a desirable life

by 48 percent, and its waste generation

choice,’ says Palt.

by 35 percent.

Internally, senior managers were

This is no small feat for the number

incentivised to build sustainability

one beauty brand in the world, which

into their day-to-day decision making.

operates in 140 countries and had

‘Sustainability achievements are

profits in excess of €4.5bn last year.

featured into the bonuses of every

Alexandra Palt, the company’s Chief

country and brand manager at

Corporate Responsibility Officer,

L’Oréal,’ says Palt. ‘It has been a great

is responsible for overseeing their

way of helping establish sustainability

flagship initiative, Sharing Beauty With

as a criteria of performance in the

All (SBWA), which sets out ambitious

company.’

targets, internally across their staff and externally down their supply chain. Palt, who joined the company in 2012, attributes the initial success of

Without our CEO, we couldn't have done anything

Combating climate change Palt has also been instrumental in leading L’Oréal’s involvement in the

the programme to the leadership and vision of her CEO, Jean-Paul Argon. ‘He knew that he wanted

Women4Climate initiative, which aims to empower women

to oversee two major transformations at l’Oréal: a digital

leaders in the fight against climate change. More than fifty

transformation and a sustainable transformation. He has a

percent of L’Oréal’s raw materials come from vegetable origins,

very clear strategy with ambitious targets, and a very clear

and are produced disproportionately by women, often in

vision on sustainability. Without our CEO, we couldn’t have

regions affected by drought, extreme weather events and

done anything.’

erosion associated with climate change. ‘We are working with

What they have managed to do is remarkable. In addition

producers in the field, to develop more sustainable agricultural

to meeting and surpassing targets – they smashed the 2020

practices to help them adapt to climate change or to fight

target to reduce CO2 emissions by 60 percent four years early

climate change,’ says Palt. ‘And we are going definitely to

– the company has introduced an ‘eco-conception’ tool used to

continue to do that.’

guide sustainable innovation and new product development.

Women are at the forefront of another of L’Oréal’s projects

The tool evaluates new products on a range of criteria –

with C40 Cities, a global network of more than 90 cities. ‘We

materials, sourcing, packaging, etc. – to evaluate them against

mentor young women in countries and participating cities, in

sustainable targets and standards.

order to help them set up projects to fight climate change.’

‘When one of our developers wants to innovate or invent

It’s all part of L’Oréal’s bigger vision: ‘As a French company, we

a product, it goes through an assessment to see whether the

think about our contribution to society,’ says Palt. ‘We believe

product is an improvement or not. This can mean reducing

that our company has another role to play – more than just

packaging, replacing plastic with recycled plastic, using

doing business.’ I

renewable materials, or improving biodegradability. Every time

We believe that our company has another role to play – more than just doing business info

- november / december 2017 - 29


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30 - info - november / december 2017


NEX T GENERATION RETAIL:

User-centred Technology Adriana Goldenberg, Marketing Strategist at Holition, discusses the ability of cutting-edge technology to bring brands and their customers closer together

T

he new wave of innovation in retail is often characterised by faster computing power and a plethora of complex new methodologies and implementations. It seems

to some as though this new tech is building a wall between

Gartner Consulting Group predicts that 85 percent of retail will be powered by artificial intelligence by 2020

retailers and consumers. In actuality, this view is out of focus. By harnessing

already 70 percent of US and 62 percent of UK millennials

the power of user-centred technologies – which relate to

prefer a more personalised offering in exchange for handing

basic human needs – brands can build more personalised

over personal data to branded chatbots, data scrapers and

connections to consumers.

virtual assistants.

Addressing various pain-points in the retail consumer

A brilliant case for turning consumer data into a strategic

journey (both in-store and online), we can utilise various types

business is Glossier: a global beauty brand developed by blog

of future technologies, like AI, Machine Learning, or Augmented

editors in 2010, which carefully monitors what their webpage

Reality, to take what consumers want and weave it back into an

audience thinks about beauty – and translates patterns from

overlying strategy. Machine learning allows us to see patterns

their personal opinions into a skincare and makeup range.

in questions frequently asked by consumers, which can then

Reportedly, the flagship store now sells more products per

be transcribed into an improved product, supply chain cycle,

square foot than an Apple store, with a 65 percent conversion

or point of discovery.

rate.

Combinatory technology

Hyper-personalisation

Through the use of combinatory technology, we can utilise

Collecting, analysing, and iterating consumer demands

networks of machines to accomplish tasks before thought

provides for the ultimate power of future technologies: hyper-

impossible. For example, a start-up who makes drones has

personalisation.

reconfigured its supply chain, production and operations

Exclusive and expensive retailers in Bond Street and Kings

models. They have invented a 3D printer that prints a drone,

Road don’t have a place next to the Amazon’s and Uniqlo’s

then transports itself into rural Africa, bringing supplies, and

of the world, who rank in the top ten of Boston Consulting

upon its arrival, commences mining for natural resources to

Group’s list of the top 50 Most Innovative Companies. True

help the local communities.

innovation and personalisation comes through the evolution

It alleviates human and production waste, completely cuts out supply chain processes, and revolutionises how intelligent machinery can enhance the quality of human life.

Experiential technology

and humanisation of experiential technology – which, fundamentally, is how Amazon was built. This new wave of personalisation and humanisation of technology has been called the Fourth Industrial Revolution. Professor Klaus Schwab of the World Economic Forum says

Researchers like Professor Kevin Warwick at Coventry

that the impact of this revolution is not measured through

University help shape digital anthropology and investigate how

the liberation of labour, or through the acceleration of

to integrate technology with human systems, using computers

production processes; rather it is administered through the

and robotics.

power bestowed by technology on our biological realities and

Agencies like Holition specialise in helping brands and

physical experiences, as individuals and consumers.

retailers think more like Warwick: our mission is to help

By using technology to listen and monitor consumers'

retailers humanise their technologies. For the first time, new

needs, retailers can circle back and generate consumer-

technologies allow us to truly listen and meet specific needs

centred technology and product solutions. They can bridge the

of consumers.

gap with their consumers by truly hyper-personalising various

By 2020, Gartner Consulting Group predicts that 85 percent of retail will be powered by artificial intelligence, and

aspects of their business. However, this revitalisation and loyal connection can only bloom when brands listen closely. I

info

- november / december 2017 - 31


Que signifie Hedios ?

Document publicitaire dépourvu de valeur contractuelle

Vous ne savez pas ? Nous non plus.

Retenez seulement que Hedios est le créateur des solutions de placement Gammes H qui visent un objectif de 8 % à 10 % de rémunération annuelle en moyenne, sous conditions et en contrepartie d’un risque de perte en capital. Précurseur, Hedios invente le premier mandat de produits structurés : le Mandat Gammes H. Depuis la création des Gammes H en 2009, 27 supports ont déjà été remboursés par anticipation au 17 juillet 2017, avec une moyenne de rémunération brute de 9,94 % par an (hors frais de contrat d’assurance-vie ou de capitalisation de 0,60 % par an, source Hedios). Les supports Gammes H non encore remboursés conservent un risque de perte en capital en cours de vie et à l’échéance (valorisations quotidiennes sur hedios.com). Les performances passées ne préjugent pas des performances futures.

Hedios - 76 New Bond Street - London W1S 1RX - Tel : 02034 455 094

www.hedios.com SA au capital de 1.011.724 € - Société de courtage en assurances immatriculée au registre des intermédiaires en assurance N°07 005 142 (www.orias.fr). Numéro d’enregistrement Financial Conduct Authority : 615361 - www.fca.org.uk


HOW AR E DI SRUP TOR S DR IVING THE FUTUR E OF LUXURY ? – FOCUS

Interiors Experiential Story-telling and immersive experiences are at the heart of Devialet’s luxury retail strategy, according to Victor d’Allancé, General Manager UK & Ireland, Devialet

D

evialet’s concept store in London’s St Pancras station is a grand total of 15 square metres. Stepping into

it is like entering a futuristic train cabin – one which is designed to showcase the company’s state-of-the-art range of wireless audio equipment. The launch of this store, and others including a space in London’s historic Royal Exchange, are part of the company’s ambitious retail strategy, which places intimate, art-directed experiences at the forefront of their engagement with their customers. ‘We don’t like to call our stores “stores,” as such,’ says UK General Manager Victor d’Allancé. ‘We prefer to talk about immersive rooms or immersive cabins. We believe you don’t

you can guess that it is exactly the same globally for the

buy a product like a Phantom wireless speaker just because

company.’

you have seen a beautiful digital ad campaign. You need to experience the sound first-hand.’ Although the company is active online, through social

Having a story to tell Devialet’s success is underpinned by its relentless focus on

media and creative digital content – videos such as ‘The

its technology and opportunities for innovation – and word

Unheard’ showcase the sound quality of their products – they

of mouth around these accomplishments. In a short time,

have invested heavily in their bricks and mortar retail offering.

the company has racked up more than 100 patents and 60

The fast-growing start-up, which was founded in 2007,

international awards. Industry commentators often remark

already has more than 20 stand alone stores globally – each

on Devialet’s impressive stats: the base model Phantom puts

designed by Jean-Pierre Travers, their in-house architect.

out 750 watts and 99 decibel sound, while the top of the line

‘This is not only a way of optimise our costs, it is also a way to ensure that we are being consistent. Whether the store is in Seoul or New York – we just opened in Gran

Phantom Gold boasts 4,500 watts of power and can achieve peak volumes of 108 decibels. Yet, their retail spaces are also intrinsic to the narrative

Central two weeks ago – it is always the same quality and the

that the brand wants to create. ‘Location is not important

same standard,’ says d’Allancé.

just in terms of footfall, but also in terms of the story you are

The expansion comes on the heels of their latest round of

telling. The Royal Exchange in London, where our store is

funding, which generated the company €100m in investment

located, was built in 1547, so there is an amazing story to be

from a consortium including music mogul Jay-Z, Terry Gou of

told,’ says d’Allancé.

Foxxcon and Andy Rubin, Founder of the Silicon Valley tech

The main challenge establishing these spaces is being able to

incubator Playground. They joined initial investors including

maintain an intimate experience for the customer. ‘We don’t

Bernard Arnault, CEO Groupe LVMH, Marc Simoncini, CEO

have an ideal number [of people we like to be in our stores

Jaina Capital, and Jacques-Antonie Granjon, CEO Vente-Privee.

at any one time], but we would like to keep things intimate.

com.

In the St Pancras cabin, for instance, as soon as you have

For d’Allancé investing in these spaces is money well

more than six or seven people inside it starts to be a bit

spent – and it is only the beginning. ‘Our vision is much bigger

cramped, and of course the sound waves of the Phantom are

than opening St Pancras, or Royal Exchange. We are already

absorbed,’ says d’Allancé.

projecting ourselves into the regions of England, Scotland, and other countries of the UK. I’m speaking at my level, but

Looked at another way, popularity is a good problem to have I

info

- november / december 2017 - 33


'A PLEASURE OBTAINED ONLY RARELY' A more sophisticated luxury customer is emerging, says Sylvie Freund-Pickavance of Value Retail, for whom the experience of luxury shopping can be as important as the product

T

he luxury sector has experienced

A

a period of incredible growth

more

sophisticated

luxury

consumer is emerging, one that values

in the last 30 years, fuelled by

authenticity and meaning as much

increased upper middle-class wealth

as beauty and exclusivity, and for

in developed countries, as well as

whom not only the ‘what’ counts,

the rise of new markets – from

but equally the ‘why’ and the ‘how.’

BRICS to the ‘next eleven.’

Transparency, commitment to

In this period, the luxury sector came

to

mean

‘expensive’

causes and social engagement are

or

becoming more visible in the ways

‘status symbol’ for many, which is a

brands communicate and engage

reduced understanding of what luxury

with their customers, and in how

truly stands for. The Oxford English

customers assess brands and respond

Dictionary defines luxury as ‘a state of

to them.

great comfort or elegance, especially

Being clear about what the brand

when involving a great expense. An

stands for and ensuring a seamless

inessential, desirable item which is expensive or difficult to obtain.’ And crucially: ‘A pleasure obtained only rarely.’

Today, luxury consumers are interested in luxury beyond just the product

With the growth of luxury brands’

and coherent delivery is key to the future, with attention being paid to the

experience

the

customer

has

when accessing this luxury. It is equally important to ensure the after-purchase

distribution on a global scale and the

does not mean the demise of luxury

engagement and exchange between

advent of the fast development of

products – quite the contrary. While the

the brand and customer is a positive

digital communications and platforms,

category is indeed still growing, brands

experience.

luxury

have

must pay attention to the experiential

dramatic evolution in the consumer

more opportunities to engage with

component of the luxury product to

experience may be seen in China, where

consumers. However, engaging digitally

meet the customer needs and desires

affluent Chinese customers want to find

has resulted in a perception of reduced

of today and tomorrow.

the perfect item suited to their lifestyle,

brands

and

products

exclusivity and rarity, both of which are

The

most

radical

and

and also want to have a memorable

integral to the value of luxury brands.

Luxury beyond the product

This development has also resulted,

Today, luxury consumers are interested

This means that luxury brands

in some cases, in the development

in luxury beyond just the product.

and boutiques need to evolve from

of a more transactional approach to

The product is of core interest to the

transactional models to relationship

engaging with consumers, a shift from

customer, of course. But its lineage,

building and experiential models, where

the highly personal service that is

its provenance, its meaning and the

every element of customer engagement

fundamental to the luxury consumer

memories associated with its acquisition

contributes to creating a meaningful

experience.

are becoming increasingly important.

and

Luxury

therefore a bond between the brand,

Since the economic crisis of 2008

purchasing

becomes

again

experience buying it.

positive

memory,

developing

and the rise of millennial influence, there

an expression and a demonstration

has been a marked shift in how people

of one’s ability to appreciate what is

For all those luxury brands that have

spend and what they value. According

unique and special (possibly to excess

a wonderful story to tell, the future is

to MasterCard’s global spend analysis,

– after all, the origin of the word ‘luxury’

bright if they engage with this story-

the rise in spend on experiences is

is the Latin ‘Luxuria, Luxus’ which means

telling authentically, with the customer

outpacing that of luxury products. This

excess).

at the heart of its focus. I

the customer and the product.

Luxury brands and boutiques need to evolve from transactional models to relationship building and experiential models 34 - info - november / december 2017


HOW AR E DI SRUP TOR S DR IVING THE FUTUR E OF LUXURY ? – FOCUS

China in the Digital Age of Luxury A young and growing generation of Chinese customers represent a huge opportunity for the luxury sector, says Sébastien Badault, General Manager Alibaba France and Director International Fashion and Luxury of Alibaba Group

T

he Chinese consumer is changing. After decades where luxury consumption in China was driven by sociallyenabling products, like expensive watches, and revolved

Chinese millionaires are expected to surpass that of any other nation by 2018

around mature men, we are now observing the rise of a new

are executed via mobile devices. However, online penetration

and young high-spending segment, largely composed of women,

in luxury goods in China is only around 7-8 percent, showing a

and more oriented towards handbags, fashion and accessories.

huge untapped potential.

Not only is the typical luxury shopper younger, but they are

Clearly, digital is king, but the offline sphere still plays a relevant

also more educated, cosmopolitan, and they are extremely

role in the building of the customer experience. Just look East if

opinionated in their demand for quality and genuine products.

you want to get a glimpse of the future, where the best elements

Old patterns such as the lack of sophistication and the preference

of online and offline commerce, from consumer engagement to

for garish designs have shifted to a genuine appreciation for a

smart logistics, come together to deliver a seamless shopping

brand’s heritage.

experience to costumers. This is an exciting time for luxury

These are the children of the Digital Revolution. The effects of

brands, which traditionally have been reluctant to embrace the

being born and raised in such an environment are utterly clear in

digital way.

the type of shopping experience they look for and, consequently, it reflects on the current structure of commerce channels.

A growing market

‘New Retail’ At Alibaba Group, we continue to reshape the future of commerce through what we call ‘New Retail,’ a complete redefinition of retail

With $7.4bn (£5.6bn) of annual spending in luxury goods,

as we know it, of which our recently launched Luxury Pavilion is

Chinese consumers represent almost a third of the global luxury

a powerful example. Luxury Pavilion is an invite-only platform

spend, while being only 14 percent of the 350 million luxury

which brings the same brand exclusivity and tailored shopping

buyers globally. In Paris, the world’s icon of luxury shopping,

experience that consumers would get in a bricks-and-mortar

Chinese customers represent a mere 5 percent of foot traffic but

store – but enhanced. By leveraging the best elements of online

they generate 33 percent of sales in department stores. These

and offline commerce, it responds to the demands of luxury

figures also couple with the estimated total amount of Chinese

brands to connect with their target audience, driving business-

millionaires, expected to surpass that of any other nation by

model innovation.

2018. This should already paint a promising scenario for luxury

As partner of choice for many global luxury brands, this is a

brands looking to grow their potential – but the Chinese story

further step to help them embrace digitalisation and, at the

goes far beyond numbers, and is much more exciting.

same time, maintain their identity and uniqueness.

While e-commerce sales represent roughly 7 percent of overall

This is the time for the luxury sector to rethink its digital

retail in the western world, this figure is more than double in

marketing strategies. Looking at how digital and physical

China (17 percent), at a time where only half of the population

integration is possible in incredibly innovative ways in China is

is online. This is a country on the move, where smartphones are

not only inspiring, but it is a choice the industry can no longer

a key part of everyday life and more than 80 percent of orders

postpone. I

E-commerce sales represent roughly 7 percent of overall retail in the West, this figure is more than double in China, at 17 percent info

- november / december 2017 - 35


Luxury retail online: Legal Issues Recent developments in EU competition law could give more power to prestige brands to control their online sales, says Bonita Trimmer, Associate and Intellectual Property Specialist at law firm Browne Jacobson LLP

L

uxury brands design their online strategies carefully. They seek to maximise opportunities whilst

preserving their brand’s allure.

Luxury brands do not want to be sold through online marketplaces where it can be difficult to distinguish authentic goods from fakes

Indeed, the online environment presents exciting new opportunities to engage with customers. But key features of the online marketplace can be at odds with a brand’s identity, due to mass accessibility, unclear boundaries, anonymity and speed. These are in tension with scarcity, exclusivity and the quality of the customer purchasing experience – all essential to the attraction of luxury goods. Brands should seek to control their retail channels without breaching EU competition law. Luxury brands do

preserved.’

for prestige goods must be able to

not want to be sold through less-than-

An earlier Court of Justice judgment

prestigious websites, or through online

had found unlawful a restriction which,

from using third-party sales platforms

marketplaces where it can be difficult to

in effect, prevented all internet sales

in a discernible manner (i.e. where

distinguish authentic goods from fakes.

by authorised distributors. In the first

consumers would be aware of the

instance, the German court also found

platform being used) for the purposes

that a recent opinion of the Advocate

the Coty restriction to be contrary to

of preserving the image of its brand. If

General of the European Court of Justice

EU competition law. However Coty

online distributors were allowed to use

suggests at least one type of contractual

appealed, and the German appeal court

such platforms in these circumstances,

control of this nature can be justified

referred the case to the Court of Justice.

there would be a loss of control over the

In his opinion, the Advocate General

presentation and image of the products.

The good news for luxury brands is

and enforced in their sector. This opinion was given in a dispute

prohibit its authorised distributors

stressed that while price competition

This was partly because platforms

between luxury cosmetics company

is important, so is competition relating

such as Amazon marketplace and eBay

Coty and one of its authorised

to other factors. He referenced earlier

display their logos very prominently at

distributers in Germany. In 2012,

cases where selective distribution

all stages of a purchasing transaction.

Coty’s agreements with those in its

systems which sought to ensure

selective distribution network had

that goods are displayed for sale in

Court of Justice, it will be taken up by

been updated to include a restriction

a manner that enhances their value

many brands who do not wish to see

which prevented the distributors from

were seen as justified, and therefore

their new luxury goods frequently

selling (or continuing to sell) Coty goods

necessary to safeguard the reputation

jumbled in with cheap low quality items

via third-party online sales platforms

of luxury goods by sustaining their aura

in an online marketplace. As this opinion

such as Amazon marketplace or eBay.

of exclusivity.

is consistent with the approach taken

Online sales were permitted, but only

In the Coty case, the Advocate

If this opinion is followed by the

by the Court of Justice to luxury brands

via an ‘electronic shop window’ where

General concluded that the head

in recent trade mark cases, it appears

the ‘luxury character of the products is

of a selective distribution network

likely to be adopted. I

Key features of the online marketplace can be at odds with a brand’s identity, due to mass accessibility, unclear boundaries, anonymity and speed 36 - info - november / december 2017


MOOD BY CHRISTOFLE

Christofle Harrods, 87-135 Brompton Road, Knightsbridge, London Luxury Home 1, Second Floor


CULTURE – WHAT'S ON A SELECTION OF RECOMMENDED CULTURAL EVENTS IN LONDON... AND FURTHER AFIELD

ROYA L AC A D E MY O F A RTS, LO N D O N

© Salvador Dali, Fundació Gala-Salvador Dalí, DACS 2017

Photography: © Schiavinotto Giuseppe / © Succession Marcel Duchamp/ADAGP, Paris and DACS, London 2017

Dalí / Duchamp Far left: The First Days of Spring, 1929. Salvador Dalí. Oil and collage on wood panel. Collection of the Dali Museum, St. Petersburg, Florida. Left: Fountain, 1917 (replica 1964), Marcel Duchamp Porcelain, Rome, National Gallery of Modern and Contemporary Art.

Take another look at two artistic giants: father of conceptual art Marcel Duchamp, and larger-than-life Surrealist Salvador Dalí. This is the first exhibition to throw light on their surprising relationship and its influence on the work of both artists. This original exhibition brings together roughly 80 works, including some of Dalí’s most inspired and technically accomplished paintings and sculptures, and Duchamp’s groundbreaking assemblages and readymades. It will also showcase the less familiar photographs by Dalí, paintings by Duchamp, correspondence and collaborations between the two artists. I 7 October 2017 - 3 January 2018 / Sat–Thu 10am-6pm / Fri 10am-10pm / £16.50

BA RB I C A N C EN T ER – A RT GA L L ERY, LO N D O N Basquiat: Boom For Real with SAMO©, a group formed with his friend Al Diaz, has not been displayed in the UK for over 20 years, despite his success and influence. The Barbican’s exhibition features Basquiat’s paintings, and focuses on

© The Estate of Jean-Michel Basquiat. Licensed by Artestar, New York.

© The Estate of Jean-Michel Basquiat. Licensed by Artestar, New York. Photo: Studio Tromp, Rotterdam

Boom for real, the first large-scale exhibition of Basquiat’s prolific work in the UK, brings together more than a 100 works of the downtown New York prodigy. The American artist, who first came to fame for the graffiti he painted

38 - info - november / december 2017

his relationship with music and film, shedding new light on the career of this shooting star of contemporary art. I SA 21 September 2017 - 28 January 2018 / Sun–Wed 10am–6pm / Thu–Sat 10am– 10pm / £16

Far right: Glenn, 1984. Jean-Michel Basquiat. Private collection. Right: Untitled, 1982. Jean-Michel Basquiat. Courtesy Museum Boijmans Van Beuningen, Rotterdam


BOOK S & FILM S – CULTUR E

25th French Film Festival UK at the French Institute The Ciné Lumière of the French Institute, London, will be hosting part of the

Short film 'The Feast' explores food and dystopia

French Film Festival UK from 2 to 9 November. Presenting an unparalleled

Based on the short story by L. P. Lee, ‘The Feast’

selection of French and Francophone cinema, this years’ festival features a

is Gaëlle Mourre’s most recent short film. Co-

wealth of genres to suit all tastes and impressive performances from an array

written with Lee and co-produced with Michelle

of stellar names and emerging talents. Festival goers will have a chance to catch

Fan, the film tells the story of a young woman

some of the most anticipated movies by first class directors, including François

from a starving community who accepts an

Ozon’s erotic thriller Amant Double (2 Nov), Lover For a Day (L’Amant d’un jour, 7

invitation to an opulent feast at the mansion of

Nov), Philippe Garrel’s exquisite black & white exploration of the human desire,

a wealthy Count – knowing that former guests

and Laurent Cantet’s latest opus, The Workshop (L’Atelier, 4 Nov). I

came back changed forever. ‘There is no clear cut definition of who and what is bad or good,’ says director Mourre. Privately screened in September, the short film has been sent to various festivals. www.thefeastfilm.com I

THESE BOOKS, RECENTLY PUBLISHED IN ENGLISH, WERE SELECTED BY THE FRENCH INSTITUTE IN THE UK

THREE DAYS AND A LIFE

MANDERLEY FOREVER

by Pierre

Lemaître Published by MacLehose Press Translated by Frank Wynne Original title: Trois jours et une vie

by Tatiana

This thriller takes place in Beauval, a

Daphné du Maurier’s books have influenced

small provincial town in France. Antoine,

Tatiana de Rosnay throughout her career.

de Rosnay Books UK Translated by Sam Taylor Original title: Manderley forever Published by Atlantic

a twelve-year old boy, leads a lonely

Here, Rosnay paints a portrait of the writer

childhood, with a mother obsessed by moral values and an

who was underrated during her life, despite the huge success of

absent father. His life is rocked when he accidentally kills his

her novel Rebecca. She is a figure characterised by the personal

neighbour’s six-year old son. Panicked, Antoine hides the

and romantic sacrifices she made for the sake of her writing.

corpse and his crime. When he returns to Beauval as a young

Rosnay draws on her private life and public work to unveil the

Parisian doctor years later, the corpse is discovered, and his

mystery that surrounds the iconic writer’s life. I

memories of the tragic event become all the more real. I

STALIN'S METEOROLOGIST by Olivier

Rolin Published by Harvill Secker Translated by Ros Schwartz Original title: Le Météorologue

THE KING OF FOOLS by Frédéric

Dard

Published by Pushkin

Vertigo Lalaurie Original title: La Pelouse Translated by Louise

Alexei Vangengheim was a highly respected

Jean-Marie Valaise is a disaffected French

meteorologist in the Soviet Union, and a

calculator salesman for an American

loyal communist subject. Yet this could not

firm in Europe. He and his girlfriend

prevent his arrest and, one fateful morning in 1934, his deportation

have separated once again, and he decides to travel alone to

to the gulag, leaving behind his beloved wife Varvara and daughter

the French Riviera for a break. An encounter with a young and

Eleonora. Olivier Rolin explores this tragic tale, based on the letters

beautiful English woman, Marjorie Faulks, changes everything.

and drawings Vangengheim sent to his wife from the camps. I

She is married but hints that she is available. Valaise follows her to Edinburgh, where the presence of her jealous husband leads him into criminal action. I

info

- november / december 2017 - 39


Proud to be the UK’s largest producer of low carbon electricity Feel better energy To find out more about our low carbon nuclear generation visit www.edfenergy.com/energyfuture. Character under licence from BeatBots LLC. EDF Energy plc, registered number 2366852, registered office: 40 Grosvenor Place, London, SW1X 7EN. Incorporated in England & Wales.


E AT, DR INK , S TAY NE WS – LIFE S T YLE

LIFESTYLE: EAT, DRINK, STAY DISCOVER THE L ATEST MEMBERS NEWS IN RESTAURANTS, HOTELS, BARS, AND FOOD & DRINK

Caviar Petrossian launches liquid caviar The French gourmet grocer Petrossian will unveil a startling twist on an old classic: caviar, but in liquid form. It is a first for the caviar industry, where sturgeon roe has been converted to a liquid. According to the company, the extraction of caviar ‘juice’ and the stabilisation of the product are original processes that form part of the brand's portfolio of technical inventions. The process also involves a delicate balance of flavours, blending the three most common aquacultures species of roe: ossetra, baerii and daurenki. The brand is well known for its innovations, such as pressed cubes of caviar, a caviar mill to create seasoning, and caviar slices to be put on canapés. This new product, called ‘Talisman,' is not intended as a stand-alone drink, or to be used as an appetizer. It was created to be used as an ingredient to incorporate in sauces and other dishes, such as scrambled eggs, and to deglaze meat or fish. It will be available at €170 (£150) per 95ml bottle. I Sophie Achary

Ladurée launches Marina Abramović’s Pastry Portrait The luxury baker Ladurée and Raphaël Castoriano, founder of Kreëmart, have collaborated to create Marina Abramović’s Pastry Portrait. The Serbian performance artist was chosen to be the first subject of the concept because of her affinity for the intangible and immaterial – the collection’s goal is to embody identities in the form of taste. The three macarons are Prussian blue, a shade tied to the artist’s parents who were war heroes, and stamped with her father’s family crest. They are presented in a pyramid-shaped box, a symbol of energy and power in freemasonry, making the box a conceptual artwork in itself. I SA

Hyatt Regency London collaborates with Saatchi Gallery

Jean-Georges opens at The Connaught Mayfair

Edwardian Hotels opens Leicester Square Kitchen

Jean-Georges at the Connaught marks

After May Fair Kitchen and Monmouth

For their seventh collaboration, the

Jean-Georges Vongerichten’s return to

Kitchen, Edwardian Hotels London’s

Hyatt Regency and Saatchi Gallery

London. The world-renowned chef has

latest venture is into contemporary

invited five UK-based artists to explore

updated his signature style – traditional

Mexican and Peruvian small plates. In

the theme of colour in a new exhibition,

French cooking paired with Asian spices

a relaxed, shared dining environment,

using experimental techniques ranging

– with British ingredients and a farm-to-

Leicester Square Kitchen offers an

from craft assemblages to analogue

table approach.

inventive menu with dishes such as

technology.

The menu borrows ideas from

Mayan-spiced

marinated

chicken

Alongside the exhibition, the Hyatt

Vongerichten’s other restaurants, the

ensalada or grilled Pisco-glazed smoked

Regency – The Churchill will unveil the

ABC Kitchen and The Mercer, and

paprika ribs and lime. I SA

new Saatchi Suite, featuring unique

offers take-away dishes – a first for the

furniture designs by Vitra, the Swiss

Connaught. Guests enjoy views of Tadao

manufacturer, and thought-provoking

Ando’s evocative water-feature in a

artwork by James Alec Hardy, created

newly redesigned space by acclaimed

especially for the suite. I SA

interior architect John Heah. I SA

info

- november / december 2017 - 41


LIFE S T YLE – CHE E SE & WINE

GRUYERE by La Cave à Fromage The history of Gruyere cheese can be traced back to 1115. With a distinctive ivory paste underneath a solid rind, a combination of salty and buttery aromas, and sometimes a smell of roasted hazelnuts, it has been on the tables of cheese lovers ever since. It might very well have been eaten by the early Calvinists in the 16th Century, led by the great Protestant reformer, John Calvin, who opened the door to a new religious and philosophical consciousness. Indeed, it continues to be produced in the dairies of the Cantons of Fribourg, Vaud, Neuchâtel, and Jura, as well as in Bern. Not far away is Avignon, a papal landmark in the Rhone Valley. In the 16th Century, this region was also undergoing religious reforms. Its famed vineyard – Châteauneuf-du-Pape – was heavily damaged along the castle during the Wars of Religion, as Roman Catholics fought Protestants. Could it only be a coincidence that Gruyere and Châteauneuf-du-Pape is a perfect paering? You can be the judge. I advise you to delicately pour a glass of the claret wine, watching as its Cardinal red robe fills your glass. Then cut a slither of an old Gruyere, thoughtfully matured for 24 months – and enjoy! I Eric Charriaux E: eric@cheese.biz T: +44 (0)845 108 8222 W: www.la-cave.co.uk

TO BUY YOUR CHEESE, VISIT LA CAVE A FROMAGE SHOPS 24-25 Cromwell Place, 229a Chiswick High Street, Kensington, London SW7 2LD Chiswick, London W4 2DW

34-35 Western Road, Hove, Brighton BN3 1AF

CHÂTE AU N EU F- DU - PAPE: YOU R WI N E WITH A GRUYERE by Wine Story The

of

rules established in 1935. The original

Châteauneuf-du-Pape, between Avignon

first

mention

of

the

village

AOC rules allowed for the use of ten

and Orange, is in a Latin document from

grape varieties – amended to thirteen

1094. It refers to the name Castro Novo,

in 1936, and eighteen in 2009. It is not

which became Château neuf in French. The

unusual to find wines which are a blend

‘du Pape’ came from the Avignon Papacy

of 13 different grapes, such as the

period (between 1309 and 1376) when

fantastic Cuvee Prestige from Château

seven successive Popes resided in Avignon,

Cabrieres in the northern part of the

rather than in Rome. Today, Châteauneuf-

village. But before the Mourvedre,

du-Pape wines are produced in a bottle

Syrah and Cinsault grapes, the Queen

engraved with the Pope’s famous mitre hat

of the Pope has to be the Grenache

– a reminder of their holy past.

grape, which is the dominant variety of

The local area is also famous for the

the appellation. It is responsible for the

large ‘galets roulés’ pebble stones, or

distinctive velvety and spicy scents, and

‘pudding’ stones,' which cover most of the vineyards. In 1923, as

the palate texture. A good Chateauneuf-du-Pape can be strong

wines from renowned Châteauneuf-du-Pape were plagued by

and alcoholic (more and more nowadays), but it should also

wine fraud, various rules for the production of Châteauneuf-du-

have a smooth texture, just like a Pope’s silk robe. I

Pape were drawn up. These were the first Appellation Contrôlée

Thibault Lavergne

rules in France, and provided the prototype for subsequent AOC TO ORDER THE ABOVE-MENTIONED WINES AND OTHERS, CONTACT: E: thibault@winestory.co.uk T: +44 (0)7921 770 691 W: www.winestory.co.uk

42 - info - november / december 2017


www.institut-francais.org.uk/projet-lumieres


AT THE CHAMBER

A

s the Chamber continues its important work, there is a

Survey, with the aim to have the voices of foreign businesses

lot to be proud of. You may be reading this magazine

in the UK heard on this pressing issue. The survey compiles

at the London Luxury Think Tank, our comprehensive

the views of member companies of 13 foreign Chambers. For

conference on the future of the luxury sector. As you may

more information, please see page 47.

know, the speakers at the event include a mix of industry

We are preparing for the Franco-British Awards

experts and company directors, including Sir Paul Smith

Ceremony, which will take place at the May Fair Hotel in

CBE, Jane Han, Head of Creative for Luxury at Facebook,

London on 30 November. With the applications now closed

Alexandra Palt, Chief Sustainability Officer of L’Oréal,

– for categories Large Corporate, Start-up & SME, and

Wolfgang Blau, President of Condé Nast International,

Sustainability – it is left to me to say bonne chance to all the

and many others. For more information please refer to the

entrants! I look forward to seeing you at the ceremony.

conference programme. I'd also like to highlight the success of our Business

Other events to look out for include an exclusive breakfast with Christine Ourmières-Widener, CEO of Flybe. Christine

Support department, which assists French companies set up

has extensive international experience across the aviation and

in the UK. The service currently manages a portfolio of 170

travel sectors. Prior to joining the airline, she was Chief Global

SMEs, having signed 22 new companies already this year.

Sales Officer for American Express Global Business Travel.

Services include incorporation, accountancy, payroll, and VAT & CIS management. Furthermore, our dynamic, in-house Business Centre,

Our Membership department has been busy as ever. We are pleased to welcome twenty-one new members: fifteen Active members, four Corporate members, and two Patron

where we offer desk rental to start-ups and SMEs, has

members including Sofyne Active Technology and The

recently added two new desks – which were filled immediately,

Boston Consulting Group. We look forward to see their

bringing our occupancy back to 100 percent. All fourteen

representatives at our upcoming events.

companies which rent desk space from us have become members of the Chamber. The Recruitment Service has posted a record year to

As always our raft of Forums and Clubs are detailed throughout this section. For more information about our upcoming events, please see page 62. Our Brexit Forum

date, having placed roughly 38 people in new roles by mid-

on 13 November, will feature Sir John Grant, former UK

October. This has already smashed the record set last year

Ambassador to the EU, and James Dowler, Deputy Director

of 30 placements, and there are still two months to go. The

of the Department for Exiting the EU. For a detailed account

recruitment department helps Member companies and

of our successful Trade Delegation to Dublin on 5-6 October,

clients find the right talent and partners for their UK growth.

including the packed itinerary of meetings and presentations

We recruit junior to senior positions for companies and

with business leaders, industry experts and local and national

businesses of all sizes, from start-ups to large corporates.

politicians, please see page 56. I FG

Earlier this month, we launched our second Brexit

info

- november / december 2017 - 45


PARISIAN PANACHE IN 2H16*

PARIS

*Our best travel time between St Pancras International and Paris Gare du Nord.

EUROSTAR.COM


NE WS – AT THE CHAMBE R

New co - chair of the Start-up & SME Club: Sébastien Goldenberg, CEO & Co - Founder, TheHouseShop.com

W

e are pleased to welcome Sébastien Goldenberg to the Start-up & SME Club, where he joins fellow co-chair Jeanne Monchovet, Founder of the management and communications consultancy Olystix.

Goldenberg launched TheHouseShop.com in March 2015 with the aim to become the leading marketplace for services related to residential sales and letting in the UK. It is an integrated one-stop-shop that intends to disrupt the traditional approach to buying and selling property by offering a free of charge option for all players (estate agents, private buyers/sellers, landlords and tenants). Until December 2011, Goldenberg was Managing Director and Global Head of Inflation Trading at Citi, offering liquidity and structured solutions on all inflation-linked products around the globe. He previously worked for ABN-AMRO and Credit-Agricole Indosuez in similar roles. His addition to the Start-up & SME Club complements the Club’s objective to help its members grow, learn and to share best practice about topical issues and challenges facing them. The group meets regularly at the Chamber and gathers CEOs and Directors of Media, Technology, Telecoms, Manufacturing, Retail and Consultancy SMEs and start-ups, with speakers from various professional backgrounds invited to give advice and present case studies drawn from their business experience. The Club also organises regular 'Club@' events where members are invited to the premises of successful start-ups and blue-chip companies that have an active and innovative policy towards entrepreneurship. Last but not least, the Chamber's most promising start-ups can apply to join our Start-up Lab where they are invited to pitch in front of a pool of high-level mentors as well as investors.

Brexit Sur vey 2017 - Making our voice heard

T

he results of our Brexit Survey, which was launched as this issue went to print, will be released shortly. The survey aims to gather the views of our member companies, as well as those of 11 other Foreign Chambers of Commerce in the UK and CCPIT, representing 14 countries (Belgium and Luxembourg, Canada, China, Denmark, France, Germany, Israel, Italy, the Netherlands, South Africa, Spain, Sweden and the US) and a total of 6,000 companies. Together, we can have our voice heard. In addition to detailing the results in the pages of INFO, we will share them with decisions-makers in the EU and UK governments, and will make them available in the media and through our network. Our aim is to demonstrate our collective influence and our

ability to mobilise our respective networks as one. It sets us on the path to establishing ourselves as an ever more influential voice representing foreign businesses in the UK. The survey, conducted by independant research company Ipsos Mori, focused on the impact of Brexit on the business community in the UK, across sectors and sizes of companies. Questions were related to future investment, economic stability, and issues related to the ongoing negotiations. Fieldwork took place from 9-23 October. Our 2016 survey, conducted in the months leading up to the Brexit vote, revealed an overwhelming majority of international businesses (78 percent) from the seven participating countries believed that Brexit would have a negative impact. Only five percent believed Brexit would have a positive impact.

info

- november / december 2017 - 47


NEW MEMBERS 2 NEW PATRON MEMBERS SOFYNE ACTIVE TECHNOLOGY – IT Services & Consulting Represented by Stéphane Lusoli, Chairman

SOFYNE Active Technology is an IT Consulting & Services company, focused on Engineering (PLM) and Operations (MES/MOM). We cover the full scope of IT activities, from business consulting & IT strategy to Implementation, deployment and Applicative Maintenance. Our global presence (Americas, Europe, Asia), with 24/7 support available, allows us to drive large and ambitious projects. We are definitively Innovation oriented and pragmatic in our approach.

www.sofyne.tech

THE BOSTON CONSULTING GROUP – Management Consulting Represented by Eric Ellul, Senior Partner

The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. We partner with clients to identify their opportunities, address their challenges, and transform their enterprises. Our customised approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organisation. Founded in 1963, BCG is a private company with more than 90 offices in 50 countries. www.bcg.com

4 NEW CORPORATE MEMBERS CAUDWELL COLLECTION Luxury Residential Property Development Company Represented by Sophia Tutino, International Sales and Events Executive Caudwell Collection is a luxury property development company based in Mayfair and owned by entrepreneur and philanthropist John Caudwell. Founded in 2015, the company has a multi-million-pound property portfolio including developments in the Cap d’Antibes with Parc du Cap, Les Oliviers and the revered Le Provençal, plus a major development in Mayfair on South Audley Street. www.caudwellcollection.com KOLEKSIYON Office Furniture Represented by Fabrice Delaneau, Brand Director Koleksiyon comprises a group of companies which have 45 years of experience and aims to develop the highest quality ideas, standards and design concepts towards the creation of 'the architecture of furnishing'. As a brand which transforms simple lines into design pieces and signifies quality, Koleksiyon has maintained a strong presence in the furniture sector since the early 70's. koleksiyon.co.uk THOMAS PINK The Reference for British Shirt Making Represented by Christopher Zanardi-Landi, President & CEO Pink, the renowned reference for fine British shirtmaking, was founded in 1984. Along with flagship stores in Jermyn Street in London, Madison Avenue in New York, and rue François 1er in Paris, Pink shirts can be found in its own boutiques and fine department stores throughout the world. Since 2000, Pink has been part of the LVMH Group. www.thomaspink.com

48 - info - november / december 2017


NE W ME MBE R S – AT THE CHAMBE R

WE ARE NOT CHICKENS Creative and Design Agency Represented by Xavier Quattrocchi-Oubradous, Founder We provide the following services: brand strategy, brand content, graphic design, brand experience, environmental design and pop advertising. We work for large and small brands, who have a strong interest in design and creativity. www.wearenotchickens.com

15 NEW ACTIVE MEMBERS ActiveEon – ISV Offering Scheduling & Automation Solution on the Cloud www.activeeon.com Represented by François Tournesac, CSO Athena Advisers – International Property Investment Advisers - athenaadvisers.com Represented by Camille Letuve, Partner Cellande – Manufacturer of Skincare Products for Professional Use - www.cellande.fr Represented by Ronan Jezequel, CEO Creaman Ltd – Graphic Design / Interior Design / Fashion Design - www.creaman.co.uk Represented by Manuel Arquier, Associate Director Franco-British Society – Events on British and French Culture and Current Affairs - www.franco-british-society.org Represented by Isabelle Gault, Executive Secretary Gympass – Corporate Wellbeing Platform - promo.gympass.com/corporate-gbr Represented by Bhavik Panchal, Marketing Manager Hello Day – Online Wellbeing Offering Seasonal Boxes - www.hello-day.com Represented by Sebastien Rumpler, CEO House London Trip – Personal and Business Property Hunting - www.houselondontrip.com Represented by Chakir Zahid, CEO ICC UK – Business Organisation - www.iccwbo.uk Represented by Diana Ciriolo, Membership Coordinator Inbound Capital – Outsourced Investor Relations - www.inbound.capital Represented by David Chermont, CEO Invest in Western France – Ocean & Loire Region – Site Selection Advisory for Western France www.invest-western-france.com - Represented by Nadia Chibouti, International Project Advisor Le Conversation Club – Language School Open 7/Week - www.leconversation.com Represented by Sophie Schieber, Director Left Production – We Create Videos and TV Commercials for Web and Tech Companies - www.leftproductions.com Represented by Augustin de Belloy, Co-Founder & CEO Pazery Bouffard and Company – French Traditional Mustard Trading Represented by Laure Pazery Guerci, Director Wordsted – Translator Specialising in Employment and Social Affairs - www.wordsted.co.uk Represented by Ruth Bartlett, Director

info

- november / december 2017 - 49


ŠPhoto credits: Pascal le DoarÊ and COSEA photo libraries

CONSTRUCTING A SUSTAINABLE FUTURE At VINCI Construction Grands Projets, we engineer digital solutions that help us and our Clients in the conception and construction of our major projects. On SEA Tours-Bordeaux high speed rail line (302 km and 38 km of connecting track), we developed a bespoke information system allowing sharing of processes and data between all partners (80 design offices, 5 sub-consortiums, 3,500 employees) that offers the most reliable performance. We introduced an Electronic Document Management System (EDMS) and a Geographical Information System (GIS) whose 3D interface fostered collaboration with clients and stakeholders. This real Asset Information Management (AIM) is being transferred to the dedicated company for the maintenance of the project over 45 years.

In the UK, we are currently placing our BIM expertise at the core of infrastructure projects such as Tideway East and the M4 Corridor around Newport, with the aim of providing enhanced collaboration and efficiency. By EXCELLENCE, we mean designing and building quicker, safer and at best value. www.vinci-construction-projects.com/british-isles


START-UP & SME CLUB

Be Your Own Brand In a session consisting of four presentations by industry experts, the Start-up & SME Club members learned how to establish their personal brand

Me Inc. If you were a brand, what brand would you be? Pinar Akkaya, Managing Director of Signature Communication, asked attendees to think about the brands that most closely describe them. ‘Are you funny, close and approachable like Haribo? Are you bubbly, fun and festive, like Moët & Chandon? Or are you a timeless classic like Chanel No. 5?’ asked Akkaya. The importance of establishing your personal brand can have powerful knock-on effects in your business. Research has shown that people tend to make decisions guided by their

you. If you are an entrepreneur, if you have talent, if you have

emotions – rather than by rational reasoning. A brand, for

the right idea, then you should succeed.’

its part, is the ultimate influencer, whose goal is to make an

For Chermont this means honing your message. ‘We need to establish how you speak. How you present yourself. Are you

emotional connection. The challenge is that people resist thinking of themselves in these ways. Akkaya recommends an exercise to start the

getting your message across? Are you being too technical? Are you showing how you address an opportunity in the market?’

process of self-reflection. Ask your friends – those who know

The goal for Chermont is to help new businesses over the

you best – to give you three adjectives that best describe you. It

first hurdle, the moment when many new businesses either

is important for them to be as objective as possible. Your brand

succeed or fail. ‘The common trajectory for a start up is to build

is how people describe you after you leave the room

slowly then to either fail or take off. The point behind personal branding is that it helps you achieve the velocity you need to

Ready for your close up For

former

TV

reporter

Etienne

make it over the crucial hurdle that all start-ups face.’ Duval,

Director

of

NewTownVision, the key to developing your personal brand

Going digital

lies in a ubiquitous piece of technology: the camera. Duval’s

Selling your personal brand means optimising your online

communications and media consultancy uses the camera to

presence, says Amanda Tran, Managing Director of JIN, a

analyse performance, identity and behaviour, with the view to

digital PR agency. This means establishing yourself as an expert

improving your overall sell.

in your market, affirming your personality, telling your story and

‘The camera is a basic tool if you want to work on the real

creating more visibility for clients, customers and investors.

personal brand that is you,’ says Duval. Intrinsic to this process

She used the professional social media site LinkedIn as a

is also refining the story you are telling. Here, too, the camera

case study on how to build an effective online profile. Along with

helps analyse whether your story – told at a sales pitch or an

professional and targeted content, entrepreneurs must think

investor meeting – is reaching your audience effectively.

about search engine optimisation (SEO). This means attaching

‘Good stories are not complicated, but they take some

key words to your headline, summary and job experience, which

thinking,’ says Duval. The camera allows you to drill down into

will help Google find you when people search in your area.

the story, word by word, in order to perfect the message you

Another quick tip is to personalise your profile URL, which will

want to convey – both in terms of the content of the story and

also help in your Google ranking.

the ‘overall’ story you are telling about yourself.

Achieving velocity David Chermont, of Inbound Capital, recently worked with

To establish your expertise beyond your official credentials and education, Tran recommends joining as many groups as possible and to publish and re-publish relevant articles and blog posts on your profile page.

Start-up & SME Club co-chair Sébastien Goldenberg, on

The end goal is to create an online profile which represents

the launch of his business TheHouseShop.com, a property

you in your fullest. ‘Think of your digital presence as an extension

classifieds website.

of your real life and business,’ says Tran.

‘When we started with Sébastien, it was not clear how to

These

speakers,

and

their

different

approaches,

brand him,’ says Chermont. ‘He started in finance at CitiGroup;

demonstrate that success for Start-ups and SMEs begins with

people were asking if he knew how to start a business. There

the person behind the brand. I

were lots of headwinds we had to dispel. But it all starts from

info

- november / december 2017 - 51


RETAIL FORUM

Retail: Digital vs. Bricks and Mortar The physical store of the future has a place in the rapidly developing digital world, heard the latest Retail Forum

W

ith worldwide e-commerce

predicts that 20 to 25 percent of malls

shopping platform, representing two-

projected to reach €10.9bn by

in America will close in the next five

thirds to seventy percent of all retail

years.

going forward. ‘There is also forecasting

2018, and emerging markets in China and India coming online, the growth of

Online luxury fashion is predicted to

retail in the digital space is undeniable.

reach 17 percent of the market by 2018,

But far from supplanting traditional

compared to 3 percent in 2015. In the

bricks and mortar stores, this trend will

UK, luxury fashion accounts for €700m

environment, bricks and mortar stores

make physical shopping experiences

of the market – the highest appetite for

can’t rest on their laurels: they need

more important than ever.

e-commerce in Europe, above €687m in

to leverage their differences from

France and €496m in Germany.

the online experience. For Freund-

The latest Retail Forum, hosted by Les 110 de Taillevent in their

One trend fuelling the rise of

that suggests that e-commerce will plateau,’ says Freund-Pickavance. But to thrive in this new retail

Pickavance, this means thinking about

Marylebone restaurant, featured Sylvie

e-commerce is the increasing ability

the senses. ‘With bricks and mortar you

Freund-Pickavance, Group Strategy

to shop using a smartphone – what

can appeal to the five senses and with

Director and Business Development

industry experts are calling mobile or

digital only two: hearing and seeing,’

Director of Value Retail (creator and

m-commerce. The majority of all online

says Freund-Pickavance. ‘Bricks and

operator of 11 luxury outlet shopping

purchases in the UK now take place on

mortar should focus on the senses that

Villages in Europe and China including

phones—54 percent, as compared to

digital doesn’t do. Smell, touch and feel

the UK's Bicester Village), and Jonathan

30 percent in 2015.

are really the USP for bricks and mortar.’

Chippindale, Chief Executive of Holition

Another important factor is the rise

(a digital creative studio specialising in

in fast-paced, experience-led consumer

Physical meets digital

emerging technologies). The event was

experiences which characterise ‘the

For Chippindale, whose company Holition works with luxury, fashion and beauty brands, being innovative

By 2020, 85 percent of all retail interaction will be powered through some kind of AI - J. Chippindale

within retail is part of the solution for traditional retailers. ‘The fact is that E-commerce is not something new or innovative,’ says Chippindale. ‘It’s been around for 8-10 years.’ Being innovative now requires embracing three key trends. The first is the growth of AI – ‘by 2020, 85 percent of all retail interaction will be powered through some kind of AI.’ The second is the merger of technical advances, like AI, robotics and biotechnology. ‘We’ve

co-chaired by Alain Harfouche, General Manager UK and Ireland for L’Occitane

sharing economy.’ ‘The one thing that the sharing

been talking about robotics, self driving cars, and cashless societies for years.

and Catherine Palmer, Legal and

economy shows is that people today

But they are all starting to mature and

Administrative Director for Joseph.

are more interested in accessing

to come together.'

The rise of e-commerce

experiences, or assessing what they

‘My big prediction for the future of

need when they need it,’ says Freund-

retail, is that we will be thinking digitally,

For traditional bricks and mortar

Pickavance, who lists Uber, Airbnb,

but we will be acting in an analogue

retailers, there is reason to have

Everlane and others as examples.

way,' says Chippindale. I

Bricks and mortar still a dominant player

Next session: 16 November, 'The

examples – as these trends tend to foreshadow what happens in Britain –

But there is another side to the story.

staffing, talent, and changes

Freund-Pickavance reports that 8,600

Despite a challenge from the digital

resulting from automation).'

retail stores will close in the US by the

world, traditional bricks and mortar

end of the year. A Credit Suisse report

retail will continue to be the dominant

concerns about their customer’s migration online. Using American

52 - info - november / december 2017

Future of Retail: HR (manpower,


HR FORUM

The Benefits of Flexible Working The latest HR Forum weighed up the pros and cons of a more flexible way of working

A

t American Express Global Business Travel, 84 percent of Travel Counsellors work from home on flexible working.

While this might not represent the norm across the broader workforce, it shows that flexibility in one’s job is achievable within organisations of all kinds – even large corporates. The latest HR Forum heard about the benefits and drawbacks of flexible working from industry experts Phil and Caroline Pegden, Co-founders of Tempagogo, and Chris Dunford, Human Resources Director at American Express Business Travel.

The case for flexible working The benefits of flexible working can be viewed from both the employer and employee side. Analysts suggest that in

The risks

the UK, flexible working could save up to £34bn for firms.

While the benefits of flexible working are shared across

Studies show that flexible working can lead to a 30 percent

employer and employee, so are the risks.

increase in employee productivity. Links have also been made

On the employee side, Phil and Caroline Pegden list job

between the flexible job market in the UK and the current low

insecurity as the number one factor against its potential appeal

unemployment rate (currently at 4.3 percent).

to workers. Differentiated pay rates with ‘permanent’ staff and

Some surveys have even suggested that flexible working

loneliness are also potential drawbacks.

contributes to greater health benefits, greater employee

On the employer side, there can be organisation hurdles

engagement and greater job satisfaction. The ability to

to overcome with a flexible work force, such as team

organise one’s working life around childcare and other

management, training costs and recruitment challenges.

responsibilities can be highly appealing to families and

One potential issue is the ability to monitor and assess

employees with dependents.

performance, outside narrow parameters.

Industry needs to adapt

that solutions to potential problems could be found through

According to Phil and Caroline Pegden, although the benefits

technology. While video-conferencing is now the norm, other

to business and employees seem evident, industry has been

platforms such as geo-tagging and other social media could

slow to adapt. Only 6 percent of job offers in the UK offer

provide the chance to link employees in meaningful, low-cost

flexible working conditions. With 90 percent of millennials

and productive ways.

saying that they would prefer a job with flexible terms, it is clear that industry needs to adapt. However there is some indication that flexible working may

However both the Pegdens and Dunford were confident

According to Dunford, the Travel Counsellors at American Express Business Travel are wholly dependent on technology for their work – and have worked successfully this way for the

have reached a plateau. This could be due to it having reached

past seven years. He notes that internal monitoring has shown

a saturation point within organisations, or due to challenges

an eight point increase in productivity of flexible workers

and obstacles that prevent progress. Chris Dunford reported

as compared to their in-office colleagues. It would seem

that there are already more than 1.88 million freelancers and

that flexible working, done right, can offer huge benefit to

contractors in the UK, which is up 41 percent since 2008.

employers and employees alike.I

The Chartered Institute of Personnel and Development, a professional organisation for human resources, says that 76 percent of employers offer one form of flexible work, from job shares to zero hours contracts.

Flexible working has contributed to a total savings of £34bn for firms in the UK

info

- november / december 2017 - 53


CLIMATE CHANGE & SUSTAINABILITY FORUM

SITE VISIT:

Olympic Park Energy Centre

The legacy of the London 2012 Olympic Games lives on in the energy and services provided by ENGIE at the Olympic Park

E

NGIE's heating and cooling systems at the Olympic Park

to have a low impact on the environment. This was a key driver

in Stratford save an estimated 11,000 tonnes of CO2

for the creation of a low carbon district energy scheme which

emissions each year, as compared to traditional heating and

served the Olympic venues and other facilities during the

cooling plants.

Games and continues to service built assets in the area.

A special meeting of the Climate Change & Sustainability

ENGIE, who signed a forty-year contact to deliver power

Forum attended a guided tour of ENGIE’s networked facilities,

and services for the site and adjoining properties, including

including the Energy Centre and a trip up the ArcelorMittal

Westfield Stratford City shopping centre, invested more than

Orbit, designed by Anish Kapoor. The network provides low

£100m in infrastructure and other costs to get the project up

carbon combined cooling heating and power and generates

and running – with money recouped by the sale of electricity

electrical power.

through their subsidiary ENGIE East London Energy Ltd. ENGIE

The session was attended by ENGIE’s Olivier Carret, Vice President UK Nuclear Project, and Mark Downes, Business Development Director, and was chaired by Richard Brown

is also repsonsible for delivering a comprehensive suite of facilities management services to the Park. The heating network consists of a mix of biomass,

CBE, former CEO and Chairman of Eurostar, Chairman

combining heating and power, and back-up support boilers.

Department for Transport Franchise Advisory Panel and Jean-

The chilling network is powered by compression chillers, which

Philippe Verdier, Founding Partner, Verdier & Co. Corporate

run with ammonia as the medium, and an absorption chiller,

Advisory.

which operates off of a high temperature circuit, provided by

The Olympic Development Authority (ODA), responsible for the Olympic site, chose ENGIE as their energy partner to further their primary ambition for the Games and their legacy

the exhaust of the combined heating and power systems. The East London scheme, opened in 2010 by former London Mayor Boris Johnson, is connected with another energy centre in Kings Yard through an 18km pipe network. The network provides low carbon heating, hot and chilled water across targeted sites. According to ENGIE: ‘It makes extensive use of highly efficient large-scale combined heat and power (CHP) technology, supplemented by large scale biomass boilers, to further reduce the carbon intensity of the heat generated, thermal stores and conventional boilers for ‘top up’, standby and increased resilience.’ The company also notes that there are plans in place to develop their reach. In support of the Mayor of London’s heat strategy – which envisions the spread of low carbon district energy networks throughout London – four break-out points from the Olympic Park have been identified, enabling the

ENGIE was chosen to further the primary ambition of the Games and their legacy to have a low impact in the environment

ENGIE

network to be extended to properties in the Boroughs of Hackney, Tower Hamlets, Waltham Forest and Newham. The Chamber and the Climate Change & Sustainability Forum thank ENGIE for hosting the event.I

OLY MPIC ENERGY

• UK Staff: 17,000

• Heating capacity: 46.5 MW

• UK revenue: £3bn

• Cooling capacity: 16 MW

• Customer sites serviced in the UK: 14,000

• Energy sources: biomass and bio-fuel

54 - info - november / december 2017


CLIMATE CHANGE & SUSTAINABILITY FORUM

Wind and Solar in the Energy Mix Wind and solar power are more efficient than ever, while installation and running costs continue to fall, so why are they not more widely adopted?

T

he costs of solar power has plummeted over the past ten years

– now costing £900,000 per megawatt peak, fully installed and connected to the energy grid. Longitudinal studies of the US market show the price for solar has dropped from $100 per watt in 1975 to 60 cents in 2015. This, while solar becomes more efficient than ever, reaching between 8 to 22 percent efficiency, depending on the size of the installation. The latest Climate Change & Sustainability Forum heard that this raises questions why this low-cost, efficient energy isn’t more widely adopted – as it represents just 3.5 percent of European power and 1.3 percent globally. Yet, as Barny Evans, Head of Sustainable Places, Energy & Waste at WSP Parson Brinckerhoff, reported, there are positive signs for the future in

In the US, the price for solar has dropped from $100 per watt in 1975 to 60 cents in 2015 Evans closed by saying that energy

installation of two turbines in rural

Britain. UK deployment of solar panels

storage and demand side response are

Alaska – where the turbines spin for

exploded in 2011, when costs and

closing the gap for making solar more

four to five months per year – is saving

efficiencies became more attractive.

genuinely useful in the UK.

the remote community a million dollars

The uptake has also been fuelled by

per year in energy costs. ‘I can offer the

a mixture of large utility-grade solar

Crowdfunding power

fields and small single panel domestic

CEO Mark Jones, whose company

save them money, because their energy

usage – which use the same panels

Emergya Wind Technologies (EWT)

bill is so expensive,’ says Jones.

and technology, demonstrating that

specialises in localised and off-grid wind

the technology also benefits from near

turbines, argued that key to the wider

practical benefits, Jones noted that

perfect scalability.

adoption of renewable is moving away

owners of large power plants and

from large centralised power generation

energy grids continue to be the biggest

Long-term storage continues to be

to a more distributed model that makes

road block to the wider adoption of

costly and inefficient; and in the UK

use of a range of power suppliers. ‘I’m

renewables – undercutting prices or

and many other Northern Hemisphere

interested in where I can put localised

investing in projects to hedge their bets.

countries, solar energy generation is too

power to create what one day may be a

‘It’s a game that is going on in many

intermittent (meaning that there is less

complete virtual network,’ says Jones.

parts of the world. If a DNO [distribution

Its disadvantages remain the same:

sun in the winter months, paired with

As evidence, he presented a recent

same turbines in many other places, and

Despite oblivious economic and

network operator] is going to lose its

greater demand for energy to heat and

project where the installation of a wind

business to renewable energy, it is going

light homes). There is also a persistent

turbine in the Netherlands was crowd-

to fight tooth and nail, unless it can

problem for renewables, namely that the

funded by the local community. Jones

internalise it,’ says Jones.

energy grid needs to be balanced, and

reported that only 450 to 500 customers

renewables like wind and solar cannot

were needed to sign onto the project

finally have their day. I

guarantee a consistent output of energy

before the installation and connection to

Next session: 22 November, ‘The

needed to keep the grid stable.

the grid became cost effective. A similar

finances of clean energy.’

Only time will tell if renewables will

info

- november / december 2017 - 55


DIGITAL TRANSFORMATION & INNOVATION FORUM

Platforms: The New Business Model Companies which are launching or transitioning their business online need to understand how platforms are revolutionising the digital space

S

ome of the fastest growing and most profitable companies

successful platform, including the design, igniting and scaling

in the world have a platform model at the heart of their

of a business whose principal goal is to reach a critical mass of

business, heard the latest Digital Transformation & Innovation

users, in order to then grow exponentially as more users join

Forum.

the platform.

This follows a fundamental change in the way companies do business. The traditional ‘value chain’ business model of GE,

Hotels and influencers

General Motors and Exxon has been supplanted by non-linear

Alizée Vasseur, Digital Marketing Strategist at Buzz&Go, an

business models, which facilitate interactions and transactions

influencer marketing platform for travel brands, presented a

between participants. Facebook, Uber and Alibaba are prime

case study of a platform start-up.

examples of businesses that have adopted a platform model. Benoit Reillier, Managing Director & Co-founder,

Her company connects influencers – ordinary people with large online audiences on social media – with hotels, both

Launchworks & Co, lists four types of platforms:

boutique independents and large chains in France, the UK and

1. Marketplaces (Alibaba, Airbnb)

abroad.

2. Payment Services (PayPal, Visa)

Buzz&Go responds to the massive swing in customer

3. Social Platforms (Facebook, Twitter)

attitudes – the 92 percent of people who trust word of

4. Operating Systems and stores (Apple AppStore, Android)

mouth endorsements over traditional advertising, according

Reillier, who helps firms through their digital

to Vasseur. With 59 percent of brands expected to increase

transformation, stresses that building a successful platform

their influencer marketing budgets in 2018, and 43 percent

isn’t simply about translating your current business model

of brands who favour influencers over celebrities in their

online – what he describes as a ‘necessary but insufficient

advertising, influencer marketing is a fast-growing segment of

first step.’ Rather, it is about adapting your business model to

the platform business environment.

reflect consumer changes.

Two established examples of influencer platforms exist

These changes include a greater interest in information

in the American market. Refluence and Tapinfluence both

sharing, transparency and ease of use, for customers more

leverage influencer content for brands and agencies, and

and more accustomed with platforms which streamline their

many analysts believe that these platforms and others have

lifestyles and purchasing habits. The trick is being able to

the potential to become major players in the $20bn market for

‘match’ customers with producers and users.

digital brand advertising.

‘The strategic enablers of successful platforms are trust,

For Vasseur, the best in class example of an influencer

governance and brand,’ says Reillier, all things which help build

platform is Parklu, a Chinese platform which matches more

a relationship between users and producers and providers in a

than 10,000 influencers with 250,000 potential customers,

more symbiotic way.

across WeChat, Weibo and other Chinese social media.

On the technical side, Reillier stresses three ‘key’ enablers,

According to Vasseur, Parklu excels at one of the main

namely IT, payments and user experience (UX). His book,

challenges for influencer marketing: being able to measure the

Platform Strategy: How to Unlock the Power of Communities

return on investment (ROI) for brands. They do this through

and Networks to Grow Your Business (platformstrategy.co),

extensive reporting and tracking. Other challenges include

uses a rocket model to explain key stages in the launch of a

keeping up with a 24/7 turnaround, and keeping a balance between customer groups and brands. The trick, says Vasseur, is for each group to remain relevant to the other for a platform to function. I What is a platform? ‘A business model creating significant value through the acquisition, matching and connection of two or more customer groups to enable them to transact.’ - B. Reillier Next Session: 7 December, ‘The Issues and Challenges of the General Data Protection Regulation (GDPR).’

56 - info - november / december 2017


PAST EVENT HIGHLIGHTS DINER DES CHEFS AT

BELMOND LE MANOIR AUX QUAT’SAISONS Chamber members were treated to an evening of the Michelin-starred cooking of Raymond Blanc OBE Philharmonic and a return to the Chelsea Flower Show to reprise his Jardin Blanc hospitality garden. One particular initiative includes a gardening school, run by Head Gardener AnneMarie Owens. Students will have the chance to work alongside the thirty-year veteran of the Manoir kitchen gardens, amongst two-acres of vegetables, herbs and fruit trees. Courses will include Seasonal Vegetable Growing, Micro Greens, Orchard Summer Pruning, Mushroom Growing, Understanding Your Soil and Growing Organic. The fantastic event featured a close affinity between Blanc and Gomez, whose fun and amiable repartee

B

eetroot terrine with horseradish

stars for more than 30 years,’ said

created a memorable mood. The food

sorbet; Cornish turbot with scallop,

Gomez. ‘It is surrounded by not one

and wine were perfectly paired and the

oyster and caviar; roast squab pigeon

but 11 gardens, including a French

conversation flowed just as seemlessly.

with celeriac and truffle chicory; exotic

potager, a Japanese garden, a vallée aux

fruit ravioli. These were the delicious

champignons sauvages, all inspired by

enjoyed their Cognac, coffee and

dishes on offer at the Chamber’s

his travels and the people he met.’

petit fours, Gomez thanked the

exclusive Diner des Chef, hosted by

Blanc, one of the UK’s best known

Before the assembled guests

event partners: Caviar Petrossian,

Raymond Blanc OBE at Belmond le

chefs, spoke about his deep passion

represented by Bruno Gils, Export

Manoir aux Quat’Saisons for the sixth

for food, which was nurtured from

Director; Les Crus Classés de Graves,

consecutive year.

a young age by his mother, whose

represented by Adrien Bernard, Sales

lessons in traditional French cooking

and Marketing Director at Domaine de

booked crowd to his picturesque

continue to influence his cuisine.

Chevalier for the wine. She thanked

restaurant, nestled in the Oxfordshire

Under his stewardship, the Manoir has

Pernod Ricard, a faithful partner since

countryside. The delightful evening

become one of the most popular foodie

the very first diner des Chefs in 2010,

began with an exlcusive tour of the

destinations in the country, and has

who provided the Champagne Perrier

gardens, led by Blanc himself. At dinner,

successfully branched out into other

Jouët Blason Rose and Cognac Martell;

the chef was feted in a speech by his

areas of hospitality, lifestyle, and art and

and Groupe Renault, represented

long-time friend Florence Gomez,

culture.

by Vincent Tourette, UK Managing

Blanc warmly welcomed a fully-

Managing Director of the French Chamber.

Since the result of the EU Referendum, Blanc reported a forty

Director, for providing transportation in a fleet of new Renault KOLEOS SUVs.

‘[Raymond] fulfilled a personal

percent drop in staff applications –

dream and bought a 13th century

which is particularly notable as the

their waiting cars at the end of the night,

Manor, where he opened Le Manoir

Manoir is enjoying continued growth.

many were already anticipating a return

aux Quat'Saisons, the only restaurant in the UK to have retained two Michelin

Current projects include a partnership with the Oxford

As the assembled guests piled into

to le Manoir, for more good food and great company. I

Raymond fulfilled a personal dream and bought a 13th century Manor, where he opened Le Manoir aux Quat'Saisons, the only restaurant in the UK to have retained two Michelin stars for more than 30 years info

- november / december 2017 - 57


TRADE DELEGATION: DUBLIN Members of the Chamber’s Trade Delegationl led by HE Mr Stéphane Crouzat and Peter Alfandary heard that Dublin is one of the fastest growing cities in Europe and Ireland is boasting renewed economic gains

T

he ‘Celtic tiger’ is back on the prowl – Ireland is again atop

Counsellor of the French Embassy in Ireland. ‘The Irish market

the list of the fastest-growing global economies. The Irish

has often been overlooked, as it is relatively smaller than the

Times reported last year that the country’s annual growth rate

UK market, and because of the memory of the financial crisis.

was the highest among EU nations; and according to the FT,

But, clearly, there are a lot of opportunities for businesses

Ireland is currently third in the world for attracting Foreign

and investors now – the country is definitely recovering,’ says

Direct Investment (FDI).

Mongrué.

This was the backdrop to the French Chamber’s Dublin

The country’s remarkable ascension can be attributed to its

Trade Delegation, an invitation-only two-day trip to the Irish

ability to attract foreign investment, its skilled English-speaking

capital, sponsored by PwC, Econocom and IDA Ireland.

workforce, and its 12.5 percent corporate tax rate. In 2015, the

The delegation met politicians, business leaders and other

total stock of FDI was roughly £710bn (€796bn), three times the

stakeholders at local and national levels, and consisted of

country’s GDP.

senior executives and company CEOs. It was joined in Dublin

Other sessions included: Jamie Cudden, Smart City Program

by representatives from the French Embassy Ireland, Business

Manager, on the Digital Economy and Dublin Smart-City, an

France, the France Ireland Chamber of Commerce, and local

initiative to develop new urban solutions with digital tech and

MDs of participating companies.

open data; an Energy Focus with John Mullins, CEO, Amarenco

Participants gathered for a cocktail reception, hosted by

Solar; a presentation on the national infrastructure programme

HE Mr Stéphane Crouzat, French Ambassador to Ireland, who

‘Capital Plan’ by Anne Graham, CEO, National transport

welcomed the group to Dublin at the French Ambassador’s

Authority; and an overview of the FDI landscape for European

Residence. Ms. Frances Fitzgerald, the Tánaiste and Irish

companies doing business in Ireland by Anne-Marie Tierney-Le

Minister for Business, Enterprise and Innovation, marked the

Roux, Head of Regional Development, IDA Ireland, with case

event with a welcome speech.

studies from IDA French clients, Valeo Group and VigiTrust.

Fitzgerald outlined the strong trading relationship between

The delegation was then transferred to Mansion House,

Ireland and France, valued at €23.6bn annually – which

heart of city government since 1715, for a lunch hosted by Cllr

amounts to roughly €2bn per month. Her message for the

Noeleen Reilly, Dublin City Council, and attended by established

delegation was that Ireland is ideal for investment (particularly

local politicians and business figures in Dublin.

in much-needed infrastructure), and as a base for business operations, in Dublin and the regions. ‘We are now dealing with problems of success and an

Distillery and airport tours In the afternoon, the delegation enjoyed a private tour of

expanding economy, compared to what were dealing with six

Jameson Distillery Bow Street., courtesy of Irish Distillers Pernod

years ago,’ said Fitzgerald. ‘We have developed a very strong

Ricard. Jameson is an example of an export powerhouse, with

national planning framework and a national capital investment

the Irish food board Bord Bia predicting that total whiskey

programme, both of which will be launched in the next month.’

exports will double from 2015 to 2020. The Irish government’s

The following day, a morning of presentations kicked off with an Irish Economic Outlook by Pierre Mongrué, Economic

Food Wise 2025 targets would see the drinks industry increasing exports by at least €700m.

Left: Frances Fitzgerald, Tánaiste and Irish Minister for Business, Enterprise and Innovation Centre: The delegation at the Jameson Distillery, Bow Street Right: The reception at the French Ambassador's Residence

58 - info - november / december 2017


E VE NT S – AT THE CHAMBE R

There is a pressing need for infrastructure of all kinds [...] There are opportunities in rail, energy and at the airport complex - P. Mongrué

From left to right: Chris Labrey (Managing Director, Econocom UK & IRL), HE Mr Stéphane Crouzat (French Ambassador to Ireland), Frances Fitzgerald (Tánaiste and Irish Minister for Business, Enterprise and Innovation), Peter Alfandary (Senior Vice President, French Chamber) David Coulon (Partner, PwC), Florence Gomez (Managing Director, French Chamber)

The day ended with a tour and presentation at Dublin Airport by Vincent Harrison, Managing Director of Dublin Airport Authority (daa), John Heffernan, Chief Development Officer of daa, and Brian Coppinger, Head of

THE FRENCH CONNECTION

Dublin Airport Central. The delegation learned that daa turnover in 2016 was €793m, up 17 percent from 2015, driven by growing passenger numbers, improved commercial income, and the impact of new overseas businesses. The group employs 3,300 people and has a further 800 people working for its international businesses. With direct flights to more than 185 destinations in 41 countries (on four continents), the airport saw 27.9 million passengers in 2016, an 11 percent increase compared to 2015. Dublin Airport Central is developing a next generation business destination, located directly opposite Terminal 2. The site boasts a mix of business and social amenities, including four purpose-built office buildings and a range of restaurants, bars, gyms, banks and hotels. The group’s core purpose is to connect Ireland with the world, with a vision of the airport as an industry hub. According to Mongrué, the daa offers just one of the many opportunities for investment and expansion for French businesses. ‘There is a pressing need for infrastructure of all kinds. We need a metro which connects Dublin City Centre to the airport. There are many other opportunities in rail and energy, and in the airport complex more widely.’ The trip to Dublin follows successful trade delegations to Birmingham in 2011, Leeds in 2012, Scotland in 2013, Manchester in 2015 and Liverpool City Region in 2016. It forms part of the French Chamber’s strategy of

The economic exchanges between France and Ireland are supported by the geographic proximity of the two countries and the fact that Ireland hosts the European headquarters of numerous multinational companies. In 2016, France was Ireland’s seventh largest export destination and third largest import origin. Ireland is also a major service provider for France, with exports of IT services amounting €3.2bn. Bilateral investment is also substantial, both from Ireland to France (€4.1bn in 2016) and from France to Ireland (€20.8bn). Nearly 350 French companies have offices in Ireland.

developing relationships and business opportunities, not only in London but also on a wider basis, to help forge mutually beneficial links. I

Co-organisers

Sponsors

Partners

info

- november / december 2017 - 59


BREAKFAST WITH... FABIENNE VIALA , CHAIRMAN, BOUYGUES UK

'We need to build faster, greener and cheaper'

T

he construction industry faces huge challenges ahead,

world populations will grow to nine billion by 2030, while

including adapting to meet increasing demand for housing

meeting new environmental targets. According to Viala, the

and infrastructure, while undergoing transformations in

construction industry is also lagging behind in terms of digital

digitisation and sustainability. Fabienne Viala, Chairman of

modernisation, failing to embrace digital ways of working as

Bouygues UK and DIrector of the French Chamber Board,

other industries have. They are also facing skills shortages, as

addressed an exclusive breakfast attended by more than

the industry expands to meet demand. Particular to Britain,

80 members at London’s Bulgari Hotel, sponsored by Paul.

are serious concerns about staffing, as reports suggest that up

The principal challenge will be keeping up with demand, as

to 175,000 will leave the British construction industry after the Brexit deal is finalised. ‘We need to build faster, greener and cheaper buildings. And a lot more of them,’ says Viala. With these challenges also come a huge potential for change in the industry, including greater adoption of technological solutions like digital modelling and construction software, such as Building Information Modelling (BIM) and Bouygues’ own 'connected homes' initiative. The construction industry should also look to the use of composite materials – like resins and fibreglass – to replace traditional housebuilding materials like stone, brick and wood. Parallel with this is the need to develop sustainable practices, including thinking about renewable energy. Viala points to exciting work by start-ups in this area, such a German company developing

Reports suggest that up to 175,000 staff will leave the British construction industry after the Brexit deal is finalised

photovoltaic concrete – meaning roads that could literally convert solar energy to power their lighting and other energy needs. ‘It’s a potential game changer,’ says Viala. ‘We need more ideas like this to meet the challenges ahead.’ I

SEMINAR WITH BRYAN CAVE

French Employment Law and Brexit

T

he Macron government hopes to push through changes to French employment law – traditionally thought to be some

of the most difficult to navigate employment laws in Europe – in order to make the country more attractive to businesses and foreign investment. In an event at the offices of law firm Bryan Cave, Chamber members heard from a panel of legal experts from Bryan Cave UK, France and Germany. François Alambret, Counsellor at Bryan Cave Paris, reported that the new laws aim to provide certainty around the potential costs of dismissing an employee; reduce the requirements involved in achieving redundancies and dismissals; and simplify the collective representation laws in order to reduce the number of bodies. The French government hopes that these changes will lead to an increase in jobs in

From left to right: speakers François Alambret, Sarah DelonBouquet, Michael Magotsch and Gary Freer of Bryan Cave

further following the recent re-election of a Merkel-led coalition. Gary Freer, UK employment Partner, questioned whether

France, by making hiring and firing easier, especially for small

the French reforms go far enough to change the perceptions of

and medium-sized businesses.

foreign investors, alluding to similar UK changes in the Thatcher

These proposed changes contrast with recent

era. Sarah Delon-Bouquet, Employment Counsel Bryan Cave

developments in Germany, where they have strengthened

Paris, suggested ways employers should do business in France.

employment laws, increasing the influence of unions and

As reforms are implemented, employers need to engage at the

reducing flexibility. Michael Magotsch, Counsel from Bryan

company level in collective negotiations (a key feature of the

Cave Frankfurt, reported that it is likely that the changes will go

new French legal framework). I

60 - info - november / december 2017


E VE NT S – AT THE CHAMBE R

RENDEZ-VOUS CHEZ... THE WESLEY

INTERNATIONAL TASTING

Networking in an ethical space

The world in a glass

A

T

RENDEZ-VOUS CHEZ... LADURÉE

RENDEZ-VOUS CHEZ... JOSEPH

Beauty on a plate

Fun and fashion

T

H

newly redesigned Savannah Restaurant in The Wesley Euston Hotel & Conference Venue played host to a networking event for Chamber members. Sustainability was the unofficial theme of the event, as the Wesley prides itself on its ethical status, being the only hotel to receive a prestigious Social Enterprise Mark. The hotel’s operation as a social enterprise means that all profits the hotel makes go straight to charity. This, in addition to the delicious offerings at the Savannah, which serves freshly prepared food from sustainable suppliers. I

he iconic macaron took centre stage at this networking event, hosted by the famed Parisian patisserie Ladurée. Their ‘macarons’, freshly baked shells filled with a creamy ganache in a rainbow of colours and flavours, have enticed visitors since 2005 to their Covent Garden café, located in the market’s flagship Building. It was a chance for members to meet and mingle, and to get inspirational ideas for corporate gifts, ranging from bespoke hampers, macarons and chocolate luxury gift boxes. The event was perfectly set off by specially-made ‘Rendez-vous Chez’ macarons for the guests, as well as Ladurée very own branded champagne. I

astes from around the world were on show at this unique tasting event, which included a selection of wines, spirits, beers and other drinks from Argentina, Australia, Austria, Belgium, Canada, Colombia, Czech Republic, France, Italy, Japan, Mexico, Portugal, Spain and Switzerland! The event, attended by more than 200 people, was organised in partnership with 13 Chambers of Commerce, and was the perfect opportunity to meet members from other Chambers and catch-up with existing contacts while sipping fantastic beverages from all over the world. Complimenting the atmosphere were special the surroundings at the historic venue of Middle Temple, one of the four great Inns of Court in central London, where guests quaffed their drinks under the watchful gaze of portraits of regents past. I

eld at the luxury brand’s Marylebone store on 18 October, this event was all about the latest fashion. Virginia Chadwyck-Healey, Executive Retail Editor at Vogue and Wardrobe Consultant, spoke to the assembled guests about the season’s top trends and some of Joseph’s most beautiful pieces. A packed room of 40 attendees then had an evening of conversation, featuring champagne and canapés. The event's host, Catherine Palmer, Legal & Administrative Director of Joseph is the Chamber’s Retail Forum co-chair. I

info

- november / december 2017 - 61


FORTHCOMING EVENTS

8

November 19.00 - 22.30

ENJOY 2 MICHELIN-STARRED CUISINE AT DÎNER DES CHEFS WITH CHEF CHRISTIAN SINICROPI At Hyatt Regency London, 30 Portman Square, Marylebone, W1H 7BH £120+VAT. Open to all members Christian Sinicropi, Executive Chef of the 2-Michelin-star restaurant La Palme d’Or, is coming especially from the Cannes Hotel Martinez to amaze us with his artistic cuisine, playing with flavours and cinematic references. For more information, please contact Anne-Claire Lo Bianco at: alobianco@ccfgb.co.uk or on 0207 092 6641.

14

November 18.00 - 20.00

SAY ‘CHEESE’ AND WINE La Cave à Fromage, 24-25 Cromwell Pl, Kensington, SW7 2LD £25+VAT per person In partnership with Wine Story and La Cave à Fromage. Open to all members Discover exceptional cheeses, paired with complementary wines, while meeting up to 30 new business contacts from a wide range of industry sectors. Experts will guide you through the history and anecdotes of the cheeses and wines tasted during the evening. For more information, please contact Camille Gorin at: cgorin@ccfgb.co.uk or on 0207 092 6644.

15

November 18.00 - 20.00

RENDEZ-VOUS CHEZ PIERRE MARCOLINI Pierre Marcolini, 37 Marylebone High St, W1U 4QE £20+VAT per person Open to all members Join us for the second edition of this irresistible evening of refinement and flavour at the chic and modern Maison Pierre Marcolini, and discover its wonderful winter collection. Explore the chocolate counter, the macaron carousel and the sweetie bar whilst networking with new business contacts from a wide range of sectors. For more information, please contact Camille Gorin at: cgorin@ccfgb.co.uk or on 0207 092 6644.

17

November 8.00 - 10.00

BREAKFAST WITH CHRISTINE OURMIÈRES-WIDENER, CEO OF FLYBE Pinsent Masons offices, 30 Crown Pl, EC2A 4ES £40+VAT per person, £60+VAT Special price for 2 Sponsored by PAUL UK. Open to all members

Christine Ourmières-Widener joined Flybe as Chief Executive Officer in January 2017. Between 2010 and 2015, Christine was CEO and Accountable Manager with CityJet - becoming the first female CEO of an Irishlicensed airline and one of only 15 across all commercial airlines. She had previously worked her way up through the ranks of Air France to become the airline's first ever Vice President/General Manager of Air France-KLM, USA in New-York. For more information, please contact Camille Gorin at: cgorin@ccfgb.co.uk or on 0207 092 6644.

62 - info - november / december 2017


23

November 12.00 - 14.30

ANNUAL FINANCIAL LUNCH WITH FRANÇOIS VILLEROY DE GALHAU, GOVERNOR OF THE BANK OF FRANCE The Langham London, 1C Portland Pl, Marylebone, W1B 1JA £120+VAT per person, £1,140+VAT for a table of 10 Sponsored by Societe Generale Champagne partner: Vranken Pommery Wine partners: Les Vins du Médoc and Pessac-Léognan Open to all members The French Chamber of Great Britain and Societe Generale request the pleasure of your company on the occasion of our Annual Financial Lunch with guest speaker François Villeroy de Galhau, Governor of the Bank of France. We will also have the honour of welcoming Monsieur Albert Roux OBE this year, who will introduce the menu prepared with the Roux’s legendary culinary expertise and creativity. For more information, please contact Camille Gorin at: cgorin@ccfgb.co.uk or on 0207 092 6644.

30

November 19.00 - 22.30

THE FRANCO-BRITISH BUSINESS AWARDS 2017 At The May Fair Hotel, Stratton Street, London W1J 8LT £110+VAT per person, £1,000+VAT for a table of 10 Open to all members Champagne partner: Vranken Pommery Dress code: Black tie

Main sponsors

Supporting sponsor

The Franco-British Business Awards (FBBA) are back. Organised by the French Chamber of Great Britain under the high patronage of the French Ambassador to the UK and the British Ambassador to France since their launch in 2000, the awards have become the most established and respected celebration of Franco-British success. Meet and mingle with more than 100 representatives from successful Franco-British businesses. For more information, please contact Camille Gorin at: cgorin@ccfgb.co.uk or on 0207 092 6644.

5

December 08.00 - 10.00

BREAKFAST AT CHRISTIE’S At Christie’s, 8 King Street, St. James’s, SW1Y 6QT Hosted by Guillaume Cerutti, Chief Executive Officer of Christie’s Organised exclusively for Patron Members This exclusive breakfast will be followed by a private tour of Christie’s Old Masters and Antiquities sales. For more information, please contact Anne-Claire Lo Bianco at: alobianco@ccfgb. co.uk or on 0207 092 6641.

6

December 19.00 - 21.00

RENDEZ-VOUS CHEZ LACOSTE At Lacoste Knightsbridge, 44 Brompton Road, Knightsbridge, SW3 1BW £20+VAT per person Open to all members Join us to discover the iconic Lacoste brand and the natural elegance and unique casual style of their collection, enhancing the beauty and freedom of movement. This not to be missed networking event hosted by Lizanne Senior, Head of PR and Marketing, UK & Ireland at Lacoste, will attract up to 80 participants. For more information, please contact Camille Gorin at: cgorin@ccfgb.co.uk or on 0207 092 6644.

info

- november / december 2017 - 63


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Our ambition is to deliver real value for our clients. And we know that value means different things to different people. That’s why we’ll work with you to understand what’s important to you. Find out more about us at www.pwc.co.uk

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INFO Magazine - Luxury  

INFO Magazine - Luxury  

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