For this exclusive conversation, Alexander Chetchikov, President of the World Luxury Chamber of Commerce, interviews Ivana Laković, President of the Adriatic Luxury Business Association (ALBA) and a leading expert in luxury communication and strategy with over 20 years of experience across multiple sectors. 

As the head of ALBA, Ivana champions the Adriatic region as a rising force in the global luxury landscape, fostering collaboration among visionary leaders and premium brands. 

She is also an academic, teaching Luxury Strategy at ESSEC Executive Education, and a seasoned crisis communications expert known for her discretion and precision. Her work is driven by a deep appreciation for culture, creativity, and strategic excellence, making her a unique voice in today’s evolving luxury industry. 

This interview explores Ivana’s insights into global luxury transformation, the Adriatic region’s potential, and the trends shaping the future of high-end markets. 

Alexander Chetchikov: Ivana, from your vantage point in the Adriatic region, how have you seen the definition of luxury evolve over the past decade—and what can global markets learn from this shift? 

Ivana Laković: Over the past decade, luxury has transformed from an emblem of possession to an expression of perspective. In the Adriatic, we’ve watched this evolution unfold with striking elegance: heritage replaced hype, intimacy replaced extravagance, and authenticity became the ultimate status symbol. Today, luxury is not about what you own, but how you live, feel, and connect. Global markets can learn from this deeply human shift—a return to craftsmanship, storytelling, emotional belonging, and cultural rootedness. In a world obsessed with speed, the Adriatic whispers the rare luxury of time. 

AC: The Adriatic has a distinct cultural and natural heritage. How do local luxury brands harness this identity to compete globally, and what can international brands learn from this approach? 

IL: The Adriatic’s brands don’t merely use identity as an ornament; they live it as philosophy. From the scent of wild immortelle in our perfumes to the echo of Byzantine threads in contemporary couture, our luxury is never abstract. It’s tactile. It breathes. It remembers. International brands often underestimate the strategic value of rootedness; they chase trends, while we cherish lineage. The lesson? In an age of sameness, origin is your strongest asset. Be proud of your dialect—both linguistic and aesthetic. 

AC: What are some of the biggest untapped opportunities in the Adriatic luxury market, and how might global investors or brands play a meaningful role? 

IL: We are the next chapter of European luxury, but one that hasn’t been oversaturated. The real opportunity lies in what I call untamed sophistication—restored palaces turned into private art salons, experiential vineyards rooted in royal legacies, and wellness sanctuaries blending ancient wisdom with silent architecture. Global investors must come not as colonizers of capital but as curators of meaning. Invest with respect, innovate with empathy, and understand that in the Adriatic, luxury is a soul, not a scheme. 

AC: You work closely with luxury businesses through ALBA. What are some innovative collaborations or business models you’ve seen emerge, and what trends do they reflect globally? 

IL: Through ALBA, we’ve seen remarkable collaborations that fuse unlikely worlds—like haute couture designers teaming with ecological boatbuilders or ancestral winemakers partnering with blockchain certifiers. This reflects a larger trend: the end of silos. Today’s luxury consumer wants cross-pollination. Beauty must be intelligent, and tech must be poetic. Our region is pioneering these hybrids, where luxury is not a vertical, but a symphony of touchpoints—from craftsmanship to climate consciousness. 

AC: Experiential luxury is now a dominant trend. How do you see Adriatic destinations and brands capitalizing on this movement to attract high-net-worth travelers and investors? 

IL: We don’t just offer experiences—we script revelations. A moonlit dinner inside a Roman cistern. A private concert in a 13th-century monastery. A vineyard tour narrated by a descendant of nobility. Adriatic luxury isn’t loud, it’s layered. It rewards those who seek, who feel, who remember. And for High-Net-Worth travelers, this is the new currency: To be transformed, not just entertained. Investors should know: Our greatest export isn’t real estate or resorts—it’s memory architecture. 

AC: How do you see the profile and expectations of luxury consumers changing, both in your region and globally? What does this mean for legacy brands? 

IL: The new luxury consumer is paradoxical: radically digital, yet spiritually analog. They want AI-powered personalization—but also ancestral stories. They follow trends—but crave timeless values. For legacy brands, this is both a challenge and an invitation. To remain relevant, they must unlearn elitism and relearn intimacy. It’s not about diluting the brand—it’s about decoding relevance without betraying essence. And in the Adriatic, we’ve mastered this duality: Tradition without nostalgia, innovation without arrogance. 

AC: With your dual role in academia and industry, what are some key strategies or mindset shifts you believe luxury leaders worldwide must embrace now? 

IL: First, replace control with curiosity. The luxury world has long operated on exclusivity through gatekeeping. But today, cultural capital is co-created with communities, creatives, and clients. Second: embrace narrative over noise. Luxury is not louder marketing; it has a deeper meaning. And finally, shift from Return on Investment (ROI) to Return on Emotion (ROE). Because luxury, at its purest, is a feeling you can’t Google. My students and partners alike must understand that the future belongs to brands that feel like a whisper, not a shout. 

AC: If you could give one piece of advice to luxury brands entering or expanding in emerging regions like the Adriatic, what would it be? 

IL: Come to co-create. We love international brands; we have always loved them. But the Adriatic doesn’t need the sole imported glamour—we already have elegance written into our stone, sea, and silence. We envision a world in harmony with our authenticity. Listen before you launch. Translate, don’t transplant. And above all, remember in this part of the world, we recognize luxury not by the price tag, but by the poetry. We are the bridge between East and West, we understand both, and we curate the arts and culture we love from both. We are a truly melting pot of beauty and authenticity.  

And one last thing: Timing is everything. If you arrive early in an emerging market, you won’t just gain market share, you’ll define the market. You set the tone, the language, the standard. You become the reference. But if you arrive late, you’re not a leader, you’re just another player adjusting to someone else’s rhythm. In luxury, as in life, true leadership is a matter of intuition, timing, and courage. 

AC: Thank you for this enriching conversation, Ivana.  It has been a true privilege to explore your remarkable journey and hear your thoughtful perspective on the evolving landscape of luxury. 

Your reflections on the Adriatic region’s unique fusion of heritage, craftsmanship, and innovation reveal a market full of soulful potential and untapped opportunities. We deeply appreciate the depth of your vision—particularly your call for brands to embrace rootedness, co-creation, and emotional resonance in today’s fast-moving world. 

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