Luxury 2050: A Learning and Development Space for the Luxury Sector (2023)

In an increasingly volatile and fractured world, collaboration across brands and sectors is crucial for turning challenges into opportunities. Proud of its Swiss roots, IMD is the safe space to make those dialogues and initiatives happen.

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Case study

Maison Chloé: Driving Purposeful Transformation for Sustainability

By Vanina Farber, Stéphane J. G. Girod and Lisa Duke -1 December 2021

At luxury fashion house Maison Chloé, minds were focused on the first collection of new Creative Director, Gabriela Hearst, which was just hitting the stores.

Case study

Chanel 1.5°: A Sustainability Journey

By Vanina Farber, Stéphane J. G. Girod and Martin Králik -1 December 2021

In a short span of five or six years, CHANEL embraced CSR (corporate social responsibility) and ESG (environmental, social, governance) initiatives that stretched far beyond its established comfort zone.

Case study

The Future of the Fashion Industry in a Post-COVID-19 World

By Niccolò Pisani and Inès Augier -1 March 2021

Zimmerli of Switzerland is a small Swiss brand that offers the highest quality underwear for men and women in the luxury segment.

Case study

Zenith Watches: Ticking to a New Beat

By Benoit F. Leleux -1 December 2020

The case highlights the dilemma of Zenith watches, a company that got stuck in its own tradition and lost its drive to innovate, relying too long on technical inventions of the past.

Case study

Tommy Hilfiger and Calvin Klein Post-COVID-19: What's in Store?

By Niccolò Pisani and Inès Augier -31 January 2020

The global fashion industry was among the hardest hit by the COVID-19 pandemic, facing major disruptions on an unprecedented scale.

Article

The Future of Luxury Trade Shows is ‘Smart’

By Fabienne Lupo -24 January 2022

The pandemic badly hit the ‘salons’, the traditional way in which luxury brands do business, but don’t write them off yet.

Article

NFTs and Luxury: What You Need to Consider for Your Brand

By Stéphane J.G. Girod -10 September 2021

NFTs can further many of the sector’s closest-held values, but brands first need to consider the habits of their demographic.

Article

Be Close to People and Show Vision: Pandemic Lessons for Luxury

By François-Henry Bennahmias -21 May 2021

Chief executive of leading Swiss luxury watch brand says COVID-19 prompted a complete reassessment of the business model.

Article

Five Strategies For Building A New-Style Luxury Customer Community

By Stéphane J.G. Girod -31 January 2022

It’s essential to stay relevant and become more purposeful as customers are increasingly buying into the values of a brand just as much as their products.

Article

Luxury Brands Need To Strategize Better On Customer Community

By Stéphane J.G. Girod -21 January 2022

Sephora, the French multinational retailer of beauty products created in 1970, has been able to keep Amazon (founded in 1994) at bay in the beauty category.

Article

Breitling Shows Other Luxury Brands How To Future Proof With Agility

By Stéphane J.G. Girod -27 August 2021

Many argue that, in the wake of COVID, the odds are now in favor of the biggest luxury groups and that independent players are doomed.

Luxury 2050: A Learning and Development Space for the Luxury Sector (2)

03:00Panel discussion at Watches and Wonders with Prof. Stéphane Giro ...

Watch the discussion

(Video) Exploring Green Building and the Future of Construction

One year into the pandemic, what is durably changing? Prof. Stéphane Girod was the expert at the Watches and Wonders panel discussion around retail ...

6th Reinventing Luxury Lab

Future Proofing Luxury Brands in Times of High Volatility

The IMD Luxury Lab is a turnkey workshop designed to deliver practical solutions through engaging, lively and multi-faceted learning formats. Hosted exceptionally by Lamborghini at Sant’Agata Bolognese.

Duration: 2 days

Next start: 6 October 2022

Luxury Brands Custom Programs

IMD develops tailored programs that reflect the unique opportunities and challenges of organizations embracing pioneering mindsets. In the luxury sector, these are for some of the biggest names in the world across automobile, cosmetics, fashion, watches and jewellery, and accessories.

Foundations of Business

A three-day, annual program delivered by IMD faculty to ECAL design Masters’ students covering essential business concepts to prepare designers for professional life, from freelancing to launching a start-up or working in-house for an established brand.

Luxury 2050: A Learning and Development Space for the Luxury Sector (3)

02:11IMD’s Reinventing Luxury Lab

Sample the experience

The IMD Luxury Lab is a turnkey workshop designed to deliver practical solutions through engaging, lively and multi-faceted learning formats.

  • Who We Are
  • A Vibrant Community
  • Ambition

Across years and programs, we are several hundred IMD Alumni working across the wide range of luxury industries. We don’t necessarily know each other. What if we could join forces to help each other and share in a more informal environment. To address the challenges and transformations our brands are experiencing and to support each other personally?

Luxury needs to secure its transformation towards purpose and sustainability. Digital is still not necessarily intuitive or well used everywhere. The next generation of the virtual economy is looming. Plenty is at stake.

For example, in automobile, the shift to mobility remains challenging. Many start-ups are transforming the field with new ambitions, already inventing the next tradition. Ecosystems become a norm for brand desirability. Younger talents and generations are expecting something else and are already bringing their own ideas, solutions and buying habits. The shift to greater strategic, organizational and leadership agility comes with its own specificities for luxury.

Who We Are

Across years and programs, we are several hundred IMD Alumni working across the wide range of luxury industries. We don’t necessarily know each other. What if we could join forces to help each other and share in a more informal environment. To address the challenges and transformations our brands are experiencing and to support each other personally?

Luxury needs to secure its transformation towards purpose and sustainability. Digital is still not necessarily intuitive or well used everywhere. The next generation of the virtual economy is looming. Plenty is at stake.

For example, in automobile, the shift to mobility remains challenging. Many start-ups are transforming the field with new ambitions, already inventing the next tradition. Ecosystems become a norm for brand desirability. Younger talents and generations are expecting something else and are already bringing their own ideas, solutions and buying habits. The shift to greater strategic, organizational and leadership agility comes with its own specificities for luxury.

A Vibrant Community
Ambition

Read more here

ProfessorStéphane J. Girod

Professor of Strategy and Organizational Innovation

Stéphane J.G. Girod is Professor of Strategy and Organizational Innovation at IMD. His research, teaching and consulting interests focus on agility transformation, at the strategy, organizational and leadership levels in…

Professor Stéphane J. Girod

Professor of Strategy and Organizational Innovation

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Stéphane J.G. Girod is Professor of Strategy and Organizational Innovation at IMD. His research, teaching and consulting interests focus on agility transformation, at the strategy, organizational and leadership levels in response to digital, globalization and other forms of disruption.

He is Program Director ofReinventing Luxury Lab and Program Co-Director of Digital Execution. He also directs the Mazda, Telenor and Midea programs and EMBA Discovery Expeditions in China. Professor Girod's sectoral expertise is in Luxury Goods and Services, Retail, Banking, Automobile and Consumer Goods.

His research has appeared in leading journals such as Harvard Business Review, Organization Science, Strategic Management Journal and Long Range Planning, as well as in the Journal of Business Strategy and European Business Review.

His thought leadership has been covered by the popular press and media, including Forbes, China Daily, The Economist Intelligence Unit, Womens' Wear Daily, BBC News,Télévision Suisse Romande, Valor Economico, La Vanguardia, Tribune de Genève, Luxury Society, HandelZeitung and The Times.

Prior to joining IMD, Professor Girod was a Manager of the Accenture Institute for High Performance, based in London. His consulting projects included international operating model design, luxury goods strategy, and the transformation of enterprise IT. Professor Girod also occupied several international development roles in leading luxury goods companies for markets such as France, Italy and the Middle-East.

He speaks seven languages. He earned a DPhil from the Saïd Business School, University of Oxford, an MBA from the Helsinki School of Economics (Aalto University) and an MSc from Toulouse Business School. He was also a visiting scholar at Indiana University.

Publications

ProfessorSalvatore Cantale

Professor of Finance

Salvatore Cantale is Professor of Finance. His academic and consulting work is divided into two different but complementary streams. First, he works at the intersection between strategy, business models, and financial…

Professor Salvatore Cantale

Professor of Finance

(Video) Dubai’s Transformation & Its Future
Luxury 2050: A Learning and Development Space for the Luxury Sector (5)

Salvatore Cantale is Professor of Finance. His academic and consulting work is divided into two different but complementary streams. First, he works at the intersection between strategy, business models, and financial results. He also sheds light on the relationship between ESG and finance, with the aim of increasing the understanding of how ESG policies impact both sustainability outcomes and financial results, and of helping companies navigate ESG ambitions and regulatory requirements.

In the area of strategy, business models, and financial results, Cantale helps class participants and companies to decipher financial results, determine the financial implications of business initiatives, and develop the business case for courses of action by putting numbers on proposed measures. He insists that a better understanding of the financial implications of a desired course of corporate action is a prerequisite for any aspiring value-enhancing executive at any level. As a certified leadership coach, he also provides guidance on ways to improve the performance of finance functions.

In the field of ESG and finance, he is interested in sustainable business models, climate tech, investor activism, and how financial tools such as green bonds, sustainability-linked bonds, and derivatives can help address challenges for corporations in financing their investments in this essential area. His work has been presented at the European Parliament Committee on Transport and Tourism (TRAN), and has had a powerful impact on how to translate regulation and policy directions into implementable actions for companies.

At IMD, his portfolio of activities covers a wide range of topics and participants. He directs the Finance for Boards (FFB) program and the newly designed Sustainability for Boards and Board Banking Program. He also teaches finance in the MBA program, delivers customized sessions on finance and strategy for general management programs such as the Advanced Management Program (AMP) and the flagship program Orchestrating Winning Performance (OWP), and contributes to the Strategic Finance (SF) program.

In addition, he has carried out consultancy services or designed and delivered in-company programs for many organizations including financial companies such as APG, MUFG, Development Bank of Japan, China Development Bank, China Minsheng Bank, Bank of Communications, UniCredit and Industrial and Commercial Bank of China, as well as strategy programs for non-financial companies such as Lacoste, Pernod Ricard, NCC, Bupa Arabia, Barilla, Seadrill, Unilever, Coca-Cola Hellenic, Tata Motors, Pirelli, Sibur, KPN, Honda, Kering and Maersk.

He has been published in a variety of international double-refereed journals on topics such as IPOs, security design, financial engineering, and dual listing. His work has also appeared in practitioner journals such as MIT Sloan Management Review, as well as in the Wall Street Journal, the Financial Times, and other media outlets.

Before joining IMD in 2011, he was a faculty director for the Master’s in finance at the AB Freeman School of Business at Tulane University in the US, where he won numerous teaching awards. Previously, he worked as an analyst with a large investment bank in London, and as a research fellow at New York University.

Selected publications

Solutions to ‘dirty’ bitcoin’s growing sustainability challenge (I by IMD, 2021)

ABP’s bold move strengthens the case for divesting fossil fuel stocks (I by IMD, 2021)

Low cost, high impact: the new ‘Barbarians at the Gate’ (I by IMD, 2021)

Danone’s damaging brush with activist investors (I by IMD, 2021)

Is your company addicted to value extraction? (MIT Sloan Management Review, 2014)

Recognition

Global Finance Association Best Paper Award

Southern Finance Association Outstanding Paper Award

Education

BA (Economics and Finance)

University of Catania, Italy

Master’s degree (Management)

INSEAD

PhD (Finance)

INSEAD

Publications

ProfessorFrederic Dalsace

Professor of Marketing and Strategy

Frédéric Dalsace focuses on two distinct areas – B2B issues such as customer centricity, buyer-seller relationships, and value management, and sustainability, inclusive business models, and alleviating poverty.

He is Co-…

Professor Frederic Dalsace

Professor of Marketing and Strategy

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Frédéric Dalsace focuses on two distinct areas – B2B issues such as customer centricity, buyer-seller relationships, and value management, and sustainability, inclusive business models, and alleviating poverty.

He is Co-Director of IMD’s new Leading Customer-Centric Strategies (LCCS) program and believes that companies need to rethink their approach to customer centricity. He says many organizations only consider customer centricity when they are defining their offers, but that they also need to incorporate it into the value delivery and value capture dimensions of their business models. One way of doing this is through risk-sharing business models including fully service-based offerings, such as Rolls Royce's Power by the Hour model, or performance-based and outcome-based contracts in which payments depend on the value created, with the result that the interests of suppliers and customers are aligned.

Risk-sharing business models are also relevant in Dalsace’s work on sustainability because they lead to more circular and more efficient solutions. He previously worked with 2006 Nobel prize winner Professor Muhammad Yunus on inclusive business models, and is currently helping firms to integrate sustainability into their broader strategy by making the business case for sustainability, for example. Many companies have been naive about sustainability and have made the mistake of decoupling it from their overall strategy, he says.

He is also collaborating with IMD’s Professor of Strategy Arnaud Chevallier on a project to identify and evaluate the types of questions that leaders should be asking of those around them. As this is not something that is formally taught, leaders tend to learn by doing, which can lead to blind spots. Using a database of more than 600 executives, the pair have therefore developed a template for the types of questions that leaders need to ask – and how to ask them.

Dalsace has worked with a range of firms including Atlas Copco, UCB, Valmet, VAT Group, Grundfos, MANE, Porsche and STADA, and he has published in academic journals such as Harvard Business Review, Business Horizons, Strategic Management Journal and Revue Française de Gestion.

Before joining IMD in 2019, he was a Professor at HEC Paris for 16 years, holding the Social Business/Enterprise and Poverty Chair, and he has won numerous awards for his teaching, research, and publications.

Prior to his academic life, he held a series of senior positions in the business world, including marketing roles at Michelin and CarnaudMetalbox and as a strategy consultant with McKinsey.

Selected publications

Mindset drives success: Selling beneficial products at the base of the pyramid (Business Horizons, 2021)

The friend or foe fallacy: Why your best customers may not need your friendship (Business Horizons, 2017)

Reaching the rich world’s poorest consumers (Harvard Business Review, 2015)

Do make or buy decisions matter? The influence of organizational governance on technological performance (Strategic Management Journal, 2002)

L’entreprise contre la pauvreté (Fondation Jean Jaurès, 2011)

Recognition

HEC Montreal CSR Challenge Case Writing Competition Award (2022)

Named on Case Centre list of best-selling cases (2021)

Strategy Management Society (Strategy Process Interest Group) Best Paper Prize (2019)

Business Horizons Best Article Award (2017)

Named on Poets & Quants list of MBA graduates’ favorite professors (2017)

HEC Paris MBA Program Best Permanent Professor (Specialized Phase) (2016, 2017)

Case Centre Award for Best Marketing Case (2015)

Best Teacher Award, HEC (2006)

HEC Foundation Prize for best article published by HEC Faculty (2004)

Winner of Institute for the Study of Business Markets Doctoral Competition (2000)

Education

MSc (Business Administration)

HEC Paris

MBA

Harvard Business School

MSc (Management)

INSEAD

PhD (Management)

INSEAD

Publications

ProfessorVanina Farber

elea Professor of Social Innovation; Dean of the Executive MBA

Vanina Farber is an award-winning economist and political scientist who specializes in social innovation and the mobilization of private capital for impact investing. Her research focuses on innovative, practical,…

Professor Vanina Farber

elea Professor of Social Innovation; Dean of the Executive MBA

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Vanina Farber is an award-winning economist and political scientist who specializes in social innovation and the mobilization of private capital for impact investing. Her research focuses on innovative, practical, sustainable, and inclusive market-oriented approaches that have the potential to change the world by eliminating the root causes of social ills. She is particularly interested in social innovation, social entrepreneurship, impact investing, sustainable finance and ESG, and applies a gender lens in all her research projects.

A key element of her work is to explore how the private sector can embed the idea of impact in the investment decision making process, particularly in relation to risk-adjusted return calculations and resource allocation. She seeks to understand the social innovation landscape through a holistic approach that examines both the supply of and demand for social innovation initiatives.

At IMD, she leads the elea Center for Social Innovation which is carrying out important research in this area. Among other topics, the Center is looking at how the private sector can deploy capital at scale for investments in projects with real social impact, and how private, public sector and philanthropic investors can collaborate effectively.

The Center was created by a donation from the family of Peter Wuffli with the aim of inspiring leaders in business, government, and civil society to create social innovation in their respective areas of responsibility.

In 2020, Farber co-authored the book The elea Way: A Learning Journey towards Sustainable Impact, with Peter Wuffli, the Founder and Chairman of the elea Foundation for Ethics and Globalization. The book summarizes insights from the foundation’s 15-year journey and is aimed at entrepreneurs, investors, executives, philanthropists, policymakers, and anyone curious about entrepreneurship and inclusive capitalism. Using real-life examples, it includes suggestions on how to lead impact enterprises in such areas as developing strategies, plans and models, building effective teams and organizations, managing resources, and handling crises.

Farber’s work involves collaboration with a range of financial institutions and corporate clients, and in 2022 she will launch IMD’s Driving Innovative Finance for Impact open program in partnership with the International Committee of the Red Cross, Lombard Odier, and the World Economic Forum. She also plays an active part in the Swiss Lab for Sustainable Finance and Gender Lens Initiative for Switzerland research networks, and is an advisory board member at the Impact Finance Forum and an international academic advisory board member at the Católica Porto Business School in Portugal.

She also teaches courses on impact investing in IMD’s MBA and Executive MBA programs and leads the pioneering Discovery Expedition to Peru for EMBA participants, where they perform due diligence on Peruvian social enterprises for Swiss and local impact investors.

Farber was named Outstanding Case Writer in the 2022 Case Centre Awards for her study on pay-as-you-go technology company Angaza. She has also been recognized as winner of the EFMD Case Writing Competition 2022 in two categories: African Business for Angaza, and Responsible Leadership for Nia Impact Capital. She also won the responsible leadership category in the 2019 EFMD Case Writing Competition for her case on Philip Morris International's vision of a smoke-free future.

Prior to joining IMD in 2018, Farber was Professor and Chair of Sustainable Entrepreneurship and Social Inclusion at Universidad del Pacífico, Peru. In January 2022 she was appointed as the fifth Dean of the IMD EMBA program.

Selected publications

Defining and conceptualizing impact investing: Attractive nuisance or catalyst? (Journal of Business Ethics, 2022 forthcoming)

Gender and entrepreneurial propensity: Risk-taking and prosocial preferences in labour market entry decisions (Social Enterprise Journal, 2021)

The elea Way: A Learning Journey Toward Sustainable Impact (Routledge, 2020)

Will Covid-19 pave the way for more business responsibility? Evidence from Switzerland (Enterprise for Society Center, 2020)

In Alain Gibb's footsteps: Evaluating alternative approaches to sustainable enterprise education (International Journal of Management Education, 2016)

Recognition

Winner of the Case Centre Outstanding Case Writer Competition (2022)

Global Business School Network Going Beyond Award finalist (2021)

Winner of EFMD Case Writing Competition Awards (2019 and 2022)

Education

Bachelor's degree (Political Science)

(Video) Positive Luxury: How to Make Sustainability Desirable? (Bettina Fetzer, Diana Verde Nieto)| DLD Sync

University of Buenos Aires

MA (Economics)

University of Memphis

Publications

ProfessorNiccolò Pisani

Professor of Strategy and International Business

Niccolò Pisani is Professor of Strategy and International Business at IMD. His areas of expertise are strategic management and international business, with an emphasis on globalization, sustainability and digitization.…

Professor Niccolò Pisani

Professor of Strategy and International Business

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Niccolò Pisani is Professor of Strategy and International Business at IMD. His areas of expertise are strategic management and international business, with an emphasis on globalization, sustainability and digitization.

His teaching on strategy formulation and execution translates complex research into practitioner-oriented lessons. In particular, participants learn to appreciate the nuances of doing business across borders and formulate strategies to compete in today’s increasingly multifaceted international landscape.

His empirical research work has been published in top-tier academic journals, such as the Strategic Management Journal, the Journal of International Business Studies, the Journal of Management and the Journal of Management Studies. His article on international corporate social responsibility research in the Journal of World Business won the 2017 International Association for Business and Society (IABS) Best Published Paper Award.

Meanwhile, his practitioner-oriented work has been featured in both Harvard Business Review and MIT Sloan Management Review. He has also produced several popular case studies, and won The Case Centre’s Overall Award in 2022 for “adidas: How to keep running fast in a post-COVID-19 world?”, which was the best-selling case out of the over 60,000 held by The Case Centre, one of the world’s leading case distributors.

He is also a member of the Editorial Review Boards of the Journal of International Business Studies and the Journal of International Business Policy.

At IMD, Pisani is Co-Director of the International Growth Strategies program, and he has partnered with a variety of companies – such as ArcelorMittal, Heineken, Mondelez, Jerónimo Martins, Ipsen and Audemars Piguet amongst others – to ensure a real-world learning environment in his sessions or generate and deliver applied research.

He has more than 10 years of teaching experience at different program levels, including master’s degrees, executive education and custom programs, and was a tenured Associate Professor at the University of Amsterdam before joining IMD in 2020.

In addition to his experience in academia, he brings four years of industry experience gained at Sanlorenzo. At this global leader in high-end luxury yachting, he was responsible for international sales of tailor-made motor yachts up to 36 meters.

Early in his career, he also worked as a researcher in finance and investments for Merrill Lynch in its San Francisco office. He speaks five languages – Italian, English, French, Spanish and German.

Selected publications

A relational-models view to explain peer-to-peer sharing (Journal of Management Studies, 2021)

How COVID-19 will change the geography of competition (MIT Sloan Management Review, 2021)

Unraveling the MNE wage premium (Journal of International Business Studies, 2020)

Does it pay to be a multinational? (Strategic Management Journal, 2020)

Accounting for firm heterogeneity in global value chains (Journal of International Business Studies, 2020)

How global is international CSR research? (Journal of World Business, 2017)

The Fortune Global 500 isn’t all that global (Harvard Business Review, 2014)

Are multinationals becoming less global? (Harvard Business Review, 2013)

International management research: Investigating its recent diffusion in top management journals (Journal of Management, 2009)

Recognition

The Case Centre Overall Award Winner (2022)

The Case Centre Best Selling Case – Strategy and General Management (2021)

Strategic Management Society Best Reviewer Award – Global Strategy Track (2018)

International Association for Business and Society Best Published Paper Award (2017)

Academy of Management Best Reviewer Award – International Management Division (2016)

Education

Master of Science (Economics and Management)

Pompeu Fabra University, Barcelona

PhD (Management)

IESE Business School, Barcelona

Publications

Emeritus ProfessorDominique Turpin

The Dentsu Chaired Professor

Dominique Turpin is a marketing expert and Japan specialist. He was IMD's Dentsu Chaired Professor of Marketing and the Dean of External Relations until 2022 and served as IMD President and Nestlé Professor from 2010 to…

Emeritus Professor Dominique Turpin

The Dentsu Chaired Professor

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Dominique Turpin is a marketing expert and Japan specialist. He was IMD's Dentsu Chaired Professor of Marketing and the Dean of External Relations until 2022 and served as IMD President and Nestlé Professor from 2010 to 2016.

Turpin has extensive teaching, consulting, and research experience in the fields of marketing and international strategy in Europe, Latin America, and Asia, particularly in the areas of brand management, customer orientation, and communications strategy.

He says that while marketing has changed dramatically as a result of new digital techniques, the essence of marketing is still the same – understanding, creating, delivering and communicating value to customers.

He remains active in the writing of case studies, and is working on two books – one with Goutam Challagalla on digital transformation in marketing, and another containing the many quotations from business leaders that he has gathered over his long career.

He continues to teach on IMD's flagship Orchestrating Winning Performance (OWP) program and was previously Director of the school's MBA program and its Program for Executive Development Diploma (PED).

He has also directed customized programs for companies such as KAO, Mondelez, Groupe SEB, Panasonic and Japan Tobacco International, and he has worked as a consultant and management educator with a large number of international companies including Coca Cola, CPW, Danone, DSM, Jardine Matheson, Nestlé, Novo Nordisk, Philips and Uponor.

Turpin is the author of more than 100 books, articles and case studies. He has had articles published in the Financial Times, European Business Forum, and MIT Sloan Management Review, and has been a regular contributor to the Nihon Sangyo Shimbun, one of the leading business dailies in Japan. He is an editorial advisor for the Singapore Management Review.

His case studies have won several awards. His cases on Toyota and Kineer were recognized in the 2022 John Molson MBA International Case Writing Competition awards, and his case Sam100: Will construction robotics disrupt the US bricklaying industry? won an EFMD Case Writing Competition Award in 2020. He was also included on The Case Centre's list of the top 40 best-selling case authors both in 2015/16 and 2018/19.

Turpin is Chairman of DAA Capital Partners, a Geneva-based private equity firm investing in impactful trends, and serves on the boards of several listed and unlisted companies and educational institutions.

Before joining IMD in 1986, he spent several years in Tokyo as a representative of a French firm in Japan. He earned a doctorate in economics from Sophia University in Tokyo, after receiving a master's degree in marketing from French business school ESSCA.

Publications

ProfessorMichael Wade

Professor of Innovation and Strategy Cisco Chair in Digital Business Transformation

Professor of Innovation and Strategy Michael Wade is an expert on digital transformation. He holds the Cisco Chair in Digital Business Transformation at IMD and is Director of IMD’s Global Center for Digital Business…

Professor Michael Wade

Professor of Innovation and Strategy Cisco Chair in Digital Business Transformation

Luxury 2050: A Learning and Development Space for the Luxury Sector (10)

Professor of Innovation and Strategy Michael Wade is an expert on digital transformation. He holds the Cisco Chair in Digital Business Transformation at IMD and is Director of IMD’s Global Center for Digital Business Transformation. He has published 10 books, more than 100 case studies, and articles on topics including digital business transformation, innovation, strategy, and digital leadership. In 2021 he was elected to the Digital Shapers Hall of Fame by a consortium of Swiss business media, and recently launched the Management under the Microscope podcast, in which he unpacks business myths through conversations with academics and business executives.

Wade helps organizations with the challenges they currently face as they seek to use digital tools and technologies to drive business value. His research shows that 87% of digital transformation programs fail to meet expectations, so his work focuses on identifying the mistakes organizations make when they implement such programs and best practices in execution. What differentiates successful from less successful organizations is how good they are at integrating digital technologies into a broader organizational and cultural transformation, he says. His work also covers ways to improve innovation and creativity, leading effectively in a digital age, and the link between digitalization and ethics.

His latest book, published in October 2021, is Hacking Digital: Best Practices to Implement and Accelerate your Business Transformation, which is aimed at helping companies to solve problems related to digital transformation. Earlier in 2021, he released a book on innovation and creativity called ALIEN Thinking: How to Bring Your Breakthrough Ideas to Life. His 2016 book, Digital Vortex: How Today's Market Leaders Can Beat Disruptive Competitors at their Own Game, won multiple awards and was a bestseller in several languages.

Wade has also been published in leading journals including Harvard Business Review, MIT Sloan Management Review, the Journal of Management Information Systems, MIS Quarterly, and the Strategic Management Journal, and is a regular contributor to Fortune Magazine, Forbes, and The Conversation, providing commentary on digital business issues and trends.

At IMD, he founded and directs Leading Digital Business Transformation (LDBT), Europe’s first and largest program for executives on digital, and is Director of several other open programs, including Digital Execution (DE), Digital Transformation for Boards (DTB), and the recently launched Digital Transformation Sprint (DTS). He has also designed and directed custom programs related to digital strategy and transformation for dozens of organizations across industries, and sits on a number of corporate boards as an advisor on digitization and business model disruption.

Before joining IMD in 2010, Wade was Associate Professor of Operations Management and Information Systems in the Schulich School of Business at York University in Toronto. As part of this role, he served as Academic Director of the Kellogg-Schulich Executive MBA Program and Associate Director of the International MBA Program.

Selected publications

Hacking Digital: Best Practices to Implement and Accelerate Your Business Transformation (McGraw-Hill, 2021)

ALIEN Thinking: The Unconventional Path to Breakthrough Ideas (PublicAffairs and Penguin Random House, 2021)

Overcoming the psychological hurdles to innovation (Harvard Business Review, 2021)

The building blocks of an AI strategy (MIT Sloan Management Review, 2020)

Three proactive response strategies to COVID-19 business challenges (MIT Sloan Management Review, 2020)

Orchestrating Transformation: How to Deliver Winning Performance with a Connected Approach to Change (DBT Center Press, 2019)

Digital Vortex: How Today’s Market Leaders Can Beat Disruptive Competitors at Their Own Game (DBT Center Press, 2016)

Recognition

Elected to the Digital Shapers Hall of Fame by Bilanz, Handelszeitung, Le Temps and Digitalswitzerland (2021)

Named one of top 10 digital thought leaders in the Digital Shapers listing of a consortium of Swiss business media (2016, 2017, and 2020)

Winner of two Axiom business book awards (2017)

Nominated for Kellogg-Schulich Executive MBA Teaching Award (2009)

Nominated for Seymour Schulich MBA Teaching Excellence Award (2008)

Education

Honors Degree in Business Administration

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Richard Ivey School of Business, University of Western Ontario, Canada.

MBA

Richard Ivey School of Business, University of Western Ontario, Canada.

PhD

Richard Ivey School of Business, University of Western Ontario, Canada.

Publications

ProfessorRalf Seifert

Professor of Operations Management

Ralf Seifert's primary research and teaching interests are operations management, supply chain strategy, and digital transformation. His work lies at the heart of one of the most important topics currently facing…

Professor Ralf Seifert

Professor of Operations Management

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Ralf Seifert's primary research and teaching interests are operations management, supply chain strategy, and digital transformation. His work lies at the heart of one of the most important topics currently facing organizations as supply chains come under strain due to multiple global changes. He has also worked on industry analysis, competitive strategy, and new venture formation.

Seifert says supply chain management has grown tremendously in importance in recent years, and the agenda for supply chain executives has expanded massively. They must now address topics such as digital transformation, supply chain resilience, and sustainability in addition to worries around cost pressure, inflation, and new geopolitical constraints.

Recent supply chain tensions have been triggered by strong demand for goods at a time of significant supply chain disruptions. It is not clear if the world will ever return to a situation in which just-in-time inventory management is seen as the holy grail. Executives will have to master more profound supply chain transformations to safeguard future operations, he says.

Seifert is Director of IMD's Digital Supply Chain Management (DSCM) program, which addresses both traditional supply chain strategy and implementation issues concerning digitalization trends and new technologies. He also teaches in IMD’s MBA and Foundations for Business Leadership (FBL) programs and has designed and directed numerous company-specific general management programs.

He has actively coached more than 60 project teams and served as a consultant and speaker for various multinational companies. Based on his work with companies, he has co-authored more than 50 case studies on a wide range of organizations including adidas, Hema, Hilti, HP, LEGO, L'Oréal, Unilever, Sky Germany and Tetra Pak, and this work has been recognized by multiple international case awards.

Seifert has more than 100 articles and international conference presentations to his credit, including articles in prestigious journals such as Production and Operations Management, Operations Research, European Journal of Operational Research, IIE Transaction, Research Policy, and the International Journal of Production Economics.

He has also co-authored three managerial books. His most recent title The Digital Supply Chain Challenge: Breaking Through, published in 2020, acts as a handbook for supply chain executives faced with the challenges of being expected to understand all aspects of their companies' business while navigating the bewildering array of options presented by supply chain digitalization. His previous books focused on strategic supply chain management and on the obstacles encountered by technology start-ups.

Alongside his role at IMD, he is a tenured professor at EPFL, the Swiss Federal Institute of Technology in Lausanne, where he has held the Chair of Technology and Operations Management since 2003.

Before joining IMD, Seifert studied and worked in Germany, Japan, and the US. While in the US, he consulted for Hewlett-Packard and served as a teaching and research assistant at Stanford University. In Germany, he worked for Booz & Company (now Strategy&), McKinsey & Company, and Freudenberg & Co. His studies included one year as a visiting scholar at Waseda University in Tokyo.

Selected publications

Limiting the impact of supply chain disruptions in the face of distributional uncertainty in demand (Production and Operations Management, 2022)

What now for supply chains? Inflation, e-commerce and over-stocking are all driving change (I by IMD, 2022)

Supply chain: Cracking down on the bullwhip effect (Supply Chain Movement, 2022)

Tesla supply chain: From cautionary tale to role model (I by IMD, 2022)

Supply chains aren’t broken, it’s more a question of demand (I by IMD, 2021)

Can AI deliver tangible benefits to demand forecasting? (IMD, 2020)

The Digital Supply Chain Challenge: Breaking Through (IMD, 2020)

Strategic Supply Chain Management (Routledge, 2012)

Nurturing Science-Based Startups: An International Case Perspective (Springer Verlag, 2008)

Recognition

Winner of EFMD Case Writing Competition Awards (2003, 2009, 2012, 2018 and 2020)

ECCH Case Award winner (2006 and 2011)

Production and Operations Management Society award (2004)

Education

Diplom Ingenieur degree (Mechanical Engineering)

Karlsruhe Institute of Technology

Master's degree (Integrated Manufacturing Systems Engineering)

North Carolina State University

MS (Management Science)

Stanford University

PhD (Management Science)

Stanford University

Publications

ProfessorKatharina Lange

Affiliate Professor of Leadership

Katharina joined IMD as Affiliate Professor of Leadership in September 2019. She has taught executives globally, specializing in self-leadership and cross-cultural team leadership in times of Change.

Before joining IMD,…

Professor Katharina Lange

Affiliate Professor of Leadership

Luxury 2050: A Learning and Development Space for the Luxury Sector (12)

Katharina joined IMD as Affiliate Professor of Leadership in September 2019. She has taught executives globally, specializing in self-leadership and cross-cultural team leadership in times of Change.

Before joining IMD, Katharina led the Office of Executive Development at Singapore Management University (SMU). Being at SMU since 2013, she directed Open Programs such as ALPINE (Asia Leaders Program in Infrastructure) or the J&J Hospital Management Program.For Custom Programs, she designed, directed and taught for clients such as Maersk, UTC Carrier, Otis, Sumitomo, Mondelez, Barclays, Johnson & Johnson, Sanofi-Aventis, Bayer, Infineon, Shangri-La, IBM, Pernod Ricard and the Abu Dhabi Distribution Company (UAE).

Prior to her experience in Asia, Katharina was Program Director and Head Life Science Industries at the European School of Management and Technology (esmt), Berlin, where she directed and taught in executive and degree programs.

Before her career in business education, Katharina worked 9 years with Arthur Andersen and Deloitte Consulting. Her PhD in pharmacology adds the empirical lens of a natural scientist to her profile.

Katharina has published numerous case studies for business education on Harvard Business Publishing http://hbsp.harvard.edu/e.g. B&C in Russia, Medneo, Pina Bausch - Leadership as collective genius, as well as the SMU Case Center https://cmp.smu.edu.sg/ e.g. Sarulla Geothermal Power Project, Building the Singapore Sports Hub, Stakeholder Issues at the Singapore Sports Hub, Singhealth - Winning the war against diabetes.

Her book chapters include Pina Bausch - "Leading Collective Genius" in "Servant Leadership", ESV, 2014; Building Singapore Sportshub in "Living in Smart Cities", World Scientific, 2018.

In 2018 she was appointed as member of the Board of UNICON, the global consortium for university based executive education. From 2017 - 2019 Katharina served as Board member on the Board of Governors of the German European School Singapore.

Publications

Luxury 2050: A Learning and Development Space for the Luxury Sector (13)

00:35IMD’s Reinventing Luxury Lab - Participant experience - Andrea P ...

IMD’s Reinventing Luxury Lab - Participant experience - Andrea Puggelli

Luxury 2050: A Learning and Development Space for the Luxury Sector (14)

00:27IMD’s Reinventing Luxury Lab - Participant experience - Eulalia ...

IMD’s Reinventing Luxury Lab - Participant experience - Eulalia Alfonso

Luxury 2050: A Learning and Development Space for the Luxury Sector (15)

00:31IMD’s Reinventing Luxury Lab - Participant experience - Isabelle ...

IMD’s Reinventing Luxury Lab - Participant experience - Isabelle Sultan

FAQs

How is the map of luxury changing? ›

The pandemic has nonetheless changed the global map of luxury. As tourism collapsed by 80% to 90%, spending on personal luxury goods by consumers in their home markets picked up the slack, rising by 50% to 60% between 2019 and 2021, according to our forecasts.

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What are the characteristics of luxury industry that make it distinct from other industries? ›

Unlike mass-market goods, excellent quality, high prices, scarcity, and emotive storytelling are the main characteristics of a luxury brand. Essentially, luxury marketing differs from everyday products in this fundamental way: their objective is not just to sell, but to create a lifestyle.

Why do you choose the luxury industry? ›

The growth of the business and alluring career prospects have continuously attracted more people to the luxury industry. A career in luxury brands has the power to give you a global projection, working with elite companies with headquarters around the world and collaborating with public figures and recognizable names.

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