Luxury Innovation Awards
Geneva's luxury innovation event
Last month saw the Luxury Innovation Awards, an event that aims to strengthen innovation, learning and networking in the luxury industry. The event was held at the Bâtiment des Forces Motrices in Geneva on 19 and 20 October.
Deependra Pandey, founder of the Luxury Innovation Submit, noted that Switzerland did not have an ecosystem where the luxury world could evolve. As a pioneer in the watch industry and home to renowned banks and investors, as well as world-class academic institutions, Switzerland is one of the cradles of the industry. It was therefore a real advantage for the city of Geneva to host such a platform and to promote innovative solutions for the luxury of tomorrow.
The event took place in person and online, but was unique in that it also took place in the Metaverse. Speakers and participants discussed the evolution of luxury, new consumer attitudes and what brands and start-ups need to create in order to stay relevant and relevant. The conference was attended by CEOs, directors and partners. In addition, to make the event as fresh and innovative as possible, start-ups and creative leaders met to discuss the next generation of the luxury and fashion industry.
An interesting aspect of this event was that it hosted as many small entrepreneurs as world-renowned ones. An opportunity for small businesses in the sector to increase their visibility, network and make connections with investors. An approach that supports both emerging and existing brands.
The Luxury Innovation Awards highlights the need for society to explore creativity, innovation and the new luxury trends of tomorrow. Today's consumer is attached to the experiences, emotions and values that a house can convey. The climate issue and the need for circularity come into play in the search for solutions and in the way they are applied. Following this impulse of innovation and creativity, Alain-Dominique Perrin was honoured as president of the 2022 jury. He is a visionary entrepreneur and President of the Cartier Foundation for Contemporary Art. He was the first to recognise "modern luxury" and to develop and innovate the Cartier brand.
The participants and jury members selected five winners for each category. Selection criteria included: originality of design, quality of craftsmanship, technological innovation, sustainability and the role of the young company in the future of luxury. Smartzer won the award in the "NFT, Metaverse and Live Shopping" category; a UK-based company that enables brands to create interactive videos and offer live shopping to their customers. The famous brand Jacquemus was won over by the application. Indeed, the house used Smartzer's interactive video platform to provide its consumers with a completely different aspect of their fashion show. Viewers were able to stream the show and click to add items to their shopping cart for pre-order. This "See Now, Buy Now" method proved to be extremely effective in driving sales while creating an entertaining and engaging experience for shoppers. In the "Watches and Jewellery" category, the American brand Aether stood out. Indeed, it did not go unnoticed during the event, using diamonds grown and created with 100% atmospheric carbon. Direct air capture technology is used to extract carbon dioxide from the atmosphere, resulting in the proprietary diamond production process. In addition, the brand has made a name for itself by creating the first positive impact diamonds, while respecting working conditions and communities.
The Luxury Innovation Awards focuses on the future of talent, but also on the future of luxury. Another very welcome aspect of this edition is that all the competitors highlighted their sustainability credentials, although there was a dedicated category for this. Will highlighting such events finally allow the luxury industry to take a different turn?