Guests at the FT Business of Luxury Summit 2011. Oliver O'Hanlon/Financial Times.( Image by genevalunch.com )
MOROCCO. The Financial Times has announced details of the 2012 FT Business of Luxury Summit, the premier thought-leadership event evaluating the key issues facing luxury businesses. This renowned Summit, now in its eighth year, will take place in Marrakech, Morocco and will commence with a welcome reception on 30 May with plenary sessions on 31 May and 1 June.
The theme for the 2012 Summit is the ‘Lifestyle Revolution’. The programme will explore the increased intermingling of luxury and lifestyle. What are the risks and rewards associated with a traditional luxury brand expanding its offering to include furniture, home wares, food, hotels, apartment houses and other experiences? What are the forces driving the evolution and the costs, both material and in terms of brand equity, involved?
Chaired by the Editor of the FT, Lionel Barber, the Summit will include keynotes from François-Henri Pinault, Chairman & CEO of PPR; Luca Cordero di Montezemolo, Chairman of Ferrari and Chris Blackwell, Founder of Island Records and Island Outpost Hotels & Resorts.
They will be joined by a distinguished panel of speakers which will include Tory Burch, CEO, Tory Burch; Remo Ruffini, CEO, Moncler; Aerin Lauder, Chairman and Creative Director, Aerin and Style and Image Director, Estée Lauder.
The first luxury shopping centre in Morocco, built on a formerly undeveloped area south of Casablanca is shaping up to be a major destination for luxury brands in North Africa. This new facility being managed by Aksal Nesk Investment went into construction in 2007 on the Corniche of Casablanca and recently had its soft opening. The mall will become a reference not only as a luxury shopping venue in North Africa and Southern Europe, but as an avant-gardes design, including a bold zinc frontage and glazed domes.
Louis Vuitton has said it will inaugurate its first flagship store, a 200 square metre unit in Morocco Mall. The brand already operates two smaller stores within the Hyatt Hotel in Casablanca and the Sofitel Hotel in Marrakech, both stores selling only leather goods. The new flagship store will include a wider range of products, including ready to wear.
The designated luxury area within Morocco Mall will also include Fendi and Gucci, both operated in franchising by the largest local fashion retailer, Aksal Group. Other luxury brands such as Prada, D&G, Cartier, Armani, Diesel, Calvin Klein, Versace, Guess and Yves Saint Laurent have also been named as tenants.
The total luxury market of Morocco is estimated at EUR 600 million (US$830 million) in 2010 with a major uplift forecast for 2011 and 2012.
For more information
Frederick Lukov, CEO of Stella McCartney, gives his opinion on the industry during 2011′s event.
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