Luxury goods organisations require a strong communication and branding strategy if they want their name to be synonymous with quality and stand out from their competition. This applies for watches, prestigious cars, but also for wine, hotels and other leisure products.
When a luxury product is based on technology, creativity is crucial but the company must also innovate technically, which requires financial investment and a shared philosophy throughout the company.
Our client, a medium-sized group, was facing challenges around technical innovation. They started to lose market share because competitors’ new technologies were becoming the industry standard. The brand was relying on historical successes but neglected to innovate.
As key people started to leave the business, management board made key decisions to stop the trend. One of them was to hire a new CEO for Western Europe, based in Paris, as France was the main market for the company.
Page Executive was chosen to find the right leader because of our global view and flexible approach to talent attraction.
Page Executive prepared a target list of the premium companies among luxury technology brands. The objective was to identify the highest-potential marketing directors within the sector who could be promoted to CEO with our client.
After assessing a large number of CMOs, we convinced the marketing director of a famous supercars manufacturer to leave this sector to help a renowned smaller company to recover.
The duration of the search, selection and closing was 18 weeks.
The new CEO enjoyed the focus on much less expensive products than supercars which need roughly the same branding strategy. Actions taken helped to revive the legendary brand. The CEO’s appointment was a great success is still recognised for turning the company around.