Harvard conference explores GCC luxury trends
Published: 03:05 PM,May 20,2024 | EDITED : 07:05 PM,May 20,2024
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The prestigious Harvard Graduate School of Education recently witnessed a groundbreaking event – the inaugural Gulf Creatives Conference (GCC) – conceived and organized by Diwan, a student-run initiative. This first-of-its-kind conference brought together distinguished individuals from all six GCC countries, spanning diverse sectors like healthcare, education, and luxury. The aim? To foster cultural exchange, build meaningful connections between the GCC and the United States, and ultimately, encourage foreign investment in the Gulf region.
One of the conference's most captivating panels, 'Evolving Elegance and Arts: Navigating the Luxury Market in the Gulf Region,' was moderated by Dr. Esraa Al-Shatti, a prominent figure in the GCC luxury landscape. Dr. Al-Shatti opened the discussion by highlighting the unique character of the region's luxury market, fueled by its high concentration of affluent consumers. She emphasized the industry's consistent growth, driven not just by a desire for exquisite products, but also by the 'socio-psychological essence' associated with luxury brands.
Marco Parsiegla, CEO of the renowned Amouage Perfumes, offered valuable insights on adapting to global trends while catering to the specific preferences of GCC clientele. Amouage's success story, with its perfumes available in over 70 countries, serves as a testament to their approach. Mr. Parsiegla attributed part of their growth to a unique R&D strategy that actively involves regional creatives. This focus on local talent has not only made Amouage a pioneer, but has also doubled their retail sales in a mere three years.
The panel discussion then delved into the power of emotional connection in the luxury market. Amirah Aulaqi, founding partner of The Advancement of Arab & Gulf women in America, shed light on the importance of understanding customer behavior and the emotional triggers that drive purchasing decisions. Ms. Aulaqi's expertise has been instrumental in bridging the gap between American luxury brands and the GCC market. Her work with various high-end companies, particularly in the automotive sector, has helped them achieve significant revenue growth by fostering a deeper understanding of their GCC consumers.
Lulwa Al-Wazzan, a passionate jeweler with a decade of experience across the GCC, brought a practical perspective to the discussion. She spoke about her successful strategy of seamlessly blending digital marketing channels with face-to-face interactions to effectively reach her customers. Ms. Al-Wazzan's story exemplified the dedication and innovation that are driving the growth of the luxury sector within the GCC.
The 'Evolving Elegance and Arts' panel offered a wealth of knowledge not only for those within the luxury industry, but for anyone curious about the evolving dynamics of the GCC market. It underscored the critical role of cultural understanding and regional knowledge in navigating this high-potential sector. The success of the panel, and the conference as a whole, is a testament to the vision and dedication of Diwan, the student-run organization that brought this groundbreaking event to life.
One of the conference's most captivating panels, 'Evolving Elegance and Arts: Navigating the Luxury Market in the Gulf Region,' was moderated by Dr. Esraa Al-Shatti, a prominent figure in the GCC luxury landscape. Dr. Al-Shatti opened the discussion by highlighting the unique character of the region's luxury market, fueled by its high concentration of affluent consumers. She emphasized the industry's consistent growth, driven not just by a desire for exquisite products, but also by the 'socio-psychological essence' associated with luxury brands.
Marco Parsiegla, CEO of the renowned Amouage Perfumes, offered valuable insights on adapting to global trends while catering to the specific preferences of GCC clientele. Amouage's success story, with its perfumes available in over 70 countries, serves as a testament to their approach. Mr. Parsiegla attributed part of their growth to a unique R&D strategy that actively involves regional creatives. This focus on local talent has not only made Amouage a pioneer, but has also doubled their retail sales in a mere three years.
The panel discussion then delved into the power of emotional connection in the luxury market. Amirah Aulaqi, founding partner of The Advancement of Arab & Gulf women in America, shed light on the importance of understanding customer behavior and the emotional triggers that drive purchasing decisions. Ms. Aulaqi's expertise has been instrumental in bridging the gap between American luxury brands and the GCC market. Her work with various high-end companies, particularly in the automotive sector, has helped them achieve significant revenue growth by fostering a deeper understanding of their GCC consumers.
Lulwa Al-Wazzan, a passionate jeweler with a decade of experience across the GCC, brought a practical perspective to the discussion. She spoke about her successful strategy of seamlessly blending digital marketing channels with face-to-face interactions to effectively reach her customers. Ms. Al-Wazzan's story exemplified the dedication and innovation that are driving the growth of the luxury sector within the GCC.
The 'Evolving Elegance and Arts' panel offered a wealth of knowledge not only for those within the luxury industry, but for anyone curious about the evolving dynamics of the GCC market. It underscored the critical role of cultural understanding and regional knowledge in navigating this high-potential sector. The success of the panel, and the conference as a whole, is a testament to the vision and dedication of Diwan, the student-run organization that brought this groundbreaking event to life.