Industry stalwarts from across 39 corporate and industrial sectors - from luxury brands, banks, real estate, media and the advertising industry – came together for a conclave held at New York.
The event saw over 37 speakers speaking on varied topics with some prominent names being David Corneone, President, Goldmark Oakham ; Shann Daer, Director, BB Gold and Diamonds; Vicky Tim Limaye, MD & CEO, Vicky and Co; and Meredith Yang Mody, Director – Founder Watch Works.
One of the key topics discussed by the panel was how luxury and value could go hand in hand. According to David Corneone, one needs to be authentic and exclusive in their approach to consumers. “It is about authenticity clubbed with exclusivity. Nearly 70 per cent of the consumers are millennials and they are very choosy and smart. They are well-researched even before entering the jewellery showroom.”
For another panellistt, luxury has become a common phenomenon. In the world of real estate, even a one-room house can be attributed to luxury.
The panellists said true luxury was when a consumer buys a product of any brand for its exclusivity. For instance, if the same product is being worn by nine-odd consumers, it loses its exclusivity, they said.
Speakers from the banking sector and the gems and jewellery industry spoke about ways to resolve the funding crisis. The panellists shared how being inclusive with banks and non-banking financial companies can help them solve the funding crisis.