The World Luxury Chamber of Commerce presents an exclusive interview with Francis Srun, a distinguished expert in luxury retail. Led by Alexander Chetchikov, President of the World Luxury Chamber of Commerce, this conversation delves into the key strategies molding the future of luxury retail. With over 20 years of experience working with renowned brands such as Piaget, Boucheron, Ralph Lauren, and Aquascutum, Francis Srun brings a wealth of knowledge on enhancing luxury sales, navigating cultural influences, and fostering long-term client relationships.
In this insightful discussion, he shares valuable perspectives on what truly separates a good luxury retail team from an exceptional one. Join us as we explore the art and strategy behind luxury retail excellence.
Alexander Chetchikov: Francis, welcome as a guest speaker for the World Luxury Chamber of Commerce webinars! What key insights will you share with industry professionals on enhancing luxury retail performance?
Francis Srun: Thank you for inviting me to share my over 20 years of experience in Luxury Retail with your community. I believe that giving everyone my real experience with all the brands I had the chance to serve could be interesting and, I hope, useful. The brands I served are Piaget, Boucheron, Ralph Lauren, and Aquascutum, but also many more brands with my consultancy Agendy Luxury Selling.
AC: With your extensive experience in Asian luxury markets, how do cultural differences influence luxury customers’ purchasing decisions?
FS: There are certainly differences but more important to see is what is common across cultures. It’s by understanding what is fundamental. What is key is the beautiful idea of self-affirmation. This self-affirmation is simply expressed differently individually, taking into account personal stories and of course cultural background.
AC: Your concept of “daily commercial creativity” emphasizes innovation in luxury sales—can you share an example of how this approach has transformed a brand’s retail strategy?
FS: Absolutely! One very example. Your retail team is struggling with your top clients. What is the right strategy? Focus on these clients offering more loyalty benefits or getting new clients offering an attractive welcome benefit? How to capture new clients at all brand levels: brand message, creations, retail actions, sales advisor actions… A huge and key strategic challenge has to be turned into smaller, commercial creativity at all levels every day.
AC: Having worked with some of the most prestigious brands in the world, what do you think separates a good luxury retail team from a truly exceptional one?
FS: The truly exceptional brand is never only based on storytelling or brand strategy. It’s always real. The know-how and real commitment. The state of the art in terms of technology. The no-compromising state of mind. Storytelling is the expression of reality, and without the real things, storytelling is only the packaging without the real gift inside.
AC: With your expertise in luxury customer relations, what is the key to maintaining long-term client relationships in an era where customer expectations constantly evolve?
FS: I tend to hear about the importance of personal relationships, such as treating customers like a friend or even as family… I develop the notion of an advisor partner in my consultancy projects. How do you take on the role of a Partner with your client? A Partner is not only a sales. It’s not a friend. It’s based on shared interests, objectives, and resource sharing.
AC: Looking ahead, how do you see the future of luxury retail evolving, and what should brands do today to stay ahead of the curve?
FS: Retail is more and more costly, especially relatively compared to e-commerce – a model able to gain productivity. The only reason for Retail is to allow what I call a Victory Encounter between 4 Personas: Brand, Creations, Advisor, and Creations.
The World Luxury Chamber of Commerce extends its gratitude to Francis Srun for sharing his expertise in this exclusive interview. His insights on self-affirmation in luxury purchasing, daily commercial creativity, and the evolving role of retail in an increasingly digital world provide a compelling roadmap for industry professionals. As luxury brands strive to remain competitive, his approach to client partnerships and strategic retail transformation offers invaluable guidance. This conversation has been an enriching addition to the WLCC Luxury Educational Hub, and we look forward to further discussions shaping the future of luxury business. Thank you for joining us.
To learn more about WLCC Luxury Education Hub, visit: https://worldluxurychamber.com/development/
