Emmanuel Saujet Describes the Importance of Heritage and Innovation in the Luxury Market
In the world of high-end luxury, you have to be bold to stand out. International Cosmetics & Perfumes CEO, Emmanuel Saujet, explains how knowing your value, playing to your niche, and conveying a sense of heritage are essential keys to a successful cosmetic line. Also, Emmanuel stresses the importance of innovation:
“Fundamentally, luxury also means innovating! You’ve gotta be in the game to not be backwards, but forward in your packaging, in your ideas… But, it’s a different approach than more massed goods and we have to be very innovative as an industry leader to be able to harness that DNA of luxury.”
Having real value to your product is necessary, but being able to convey a perceived worth to your customer is equally as critical. That’s why marketing, quality ingredients, and your history must all come together to create a story that your consumers can relate to, and your company can get behind. Listen in and find out how to start building your luxury brand.
[00:00:00] Grow From A Niche Player to a Market Leader
[00:06:52] Commit To Your Story and Heritage
[00:12:22] Know and Leverage Your Value
Discover more about segments and the guest below…
[00:00:00] Grow From A Niche Player to a Market Leader
In the successful world, your scent is just as important as your appearance. That’s why International Cosmetics & Perfumes (ICP) brought their new product, Royal Mayfair, to market. This fragrance is a beautiful blend of British Gin, Jamaican Lime, Bohemian Oranges, and Australian Eucalyptus, based on an aroma commissioned by the Duke of Windsor over 80 years ago. CEO, Emmanuel Saujet, explains the intricacies of marketing bottles of perfume that start at $475, and how they were able to grow from a small, niche player, into a market leader.
“When you take a risk, you have to weigh out two things… the passion that you have, and also the consequence of that passion. Risk taking will take passion, but will have consequences.”
Emmanuel shares how a gamble to take Nordstroms on as a distributor helped ICP become the giant they are today. Emmanuel explains why taking steps to promote slow and steady expansion rather than rushing into excessively fast growth can be advantageous.
[00:06:52] Commit To Your Story and Heritage
The concept of luxury is not always the same from one person the next; so how can you build a successful company in high-end extravagance? International Cosmetics & Perfumes CEO, Emmanuel Saujet, describes how a blend of storytelling, heritage, quality, innovation, and performance is key when convincing your customers of a perceived value.
“Heritage means, indirectly, luxury. It means something that was once established maybe 200 years ago, in our case… still lives today and breathes the quality that it had once.”
When building a team, you must be sure they are onboard and committed to your story and heritage. If your organization buys into and understands your concept of luxury, they will be able to communicate it to the end-customer. Find out how to get your entire company to move in unison and increase its worth.
[00:12:22] Know and Leverage Your Value
With several retailing partners in the US, including Bloomingdales, Nordstroms, Saks, and Neiman Marcus, how does International Cosmetics & Perfumes (ICP) keep their brand from getting lost in the mix? Over 15 years ago, ICP took a non-compromising stance with their vendors. CEO, Emmanuel Saujet, shares how this has helped this prevented retailers from dictating how they allocate marketing and sales funds, and gave them full creative reign.
“A woman can come into a Neiman Marcus and buy a fragrance, and most likely on her way out… she might end up buying a lipstick, pair of shoes, or a dress… and the retailer understands that.”
Emmanuel explains how they were able to build up their brand without international marketing; instead, they took a word-of-mouth and social media approach. When you’re a high-end, luxury brand, retailers learn to respect what you do, and understand the importance of retaining your relationship. Learn how to create demand for your product by leveraging your worth.
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Guest: Emmanuel Saujet | CEO, International Cosmetics & Perfumes
Product: Royal Mayfair
