HIM Luxury specialization to draw expertise from Louis Vuitton and Nespresso

With over 20 years experience with top brands in the luxury industry, Mr. Frédéric Bestard will be joining the Luxury Specialization bringing real world case studies from his professional roles with Louis Vuitton and Nespresso.

What makes the luxury industry unique for you?
The luxury industry is a rare combination of mass consumption and art. And to me specifically, it is this combination that makes it completely unique. One of my favorite quotes that sums it up nicely is from LVMH Group’s CEO, Mr. Bernard Arnault who said,

“Its the ordinary for extraordinary people and the extraordinary for ordinary people.”

What topics will be discussed in your classroom?
In the past luxury goods were reserved for the very rich, they were precious products made by artisans. However as recently as the very last decade this has shifted dramatically with more and more people gaining access to very attractive products under a strong brand image. The challenge we have today as marketers is how to make sure the rich continue to buy luxury items when people in the street are carrying the very same products. This underlying issue will be a main topic discussed in my class.

How does Hospitality Management fit with a career in the luxury industry?
I strongly believe in hospitality management as complimentary to a career in the luxury industry.

“Service and experience management are integral in all aspects throughout the industry and a hospitality degree deeply prepares you for this.”

What do you believe are some of the most important qualities of a successful professional in the luxury industry?
At the heart of the industry is managing emotions. Attention to detail is essential and a passion for creation and innovation. I believe you have to be willing to put a lot of yourself into the industry in order to be successful.

How can you help develop this in your students?
My role is to help my students become aware. I will help them learn how to pay attention and be awake to the fantastic things happening in the industry right now. My hope is to bring the students backstage to help them begin to understand the luxury industry from a different angle.

“I am not here to teach what you can read in a book. I want to bring my experiences, my passions, my business perspectives and examples from the real world that they can learn from and put into practice.”

What examples will you bring from your career to the classroom?
There will be two main examples that I will share and draw case studies that are directly from my career. These include working in product development with Louis Vuitton and Nestlé Nespresso.

What did your roles entail with Louis Vuitton and Nespresso?
I knocked on the door of Louis Vuitton in 1988 and told them I wanted to work for their marketing department. But was surprised to learn they did not have one! After my pitch, I was hired to introduce strategic marketing principles and for 9 years I worked on building up the marketing management of luxury goods at Louis Vuitton from a product/retail perspective.

“I am proud to say the company is still working on the same principles today that I introduced over 2 decades ago.”

Following this experience, I spent 7 years with Nespresso. When I joined, Nespresso was simply a coffee company and not the luxury brand that I believed it could become.

“Based on the same values I put in place at Louis Vuitton, I successfully convinced the CEO that I could turn Nespresso into a luxurious lifestyle brand.”

I worked through two main channels developing retail activity and opening the Nespresso bars known across the world including the flagship store at the Champs-Élysées. Secondly I focused on the development of branded products and brought in star designers to create the Nespresso accessory line.

What are you most looking forward to from the teaching experience?
I am definitely looking forward to dynamic discussions and exchanges with my students. I will continue to work as a consultant outside of the classroom and I definitely hope to learn from the fresh perspectives that the students bring.