VIDEO – New Ways of Looking at Luxury – Margareth Henriquez & RBW

In collaboration with The Real Business of Wine, we had a long chat with Margareth Henriquez, head of Krug, and discussed her PhD thesis on business, luxury and wine.

In a rush? Here are some of the major takeaways.

Luxury is the light enlightening the path. Luxury Brands lead the way and create inspiration

“For me, Luxury means the light that needs to shine for others and enlightens the path. True luxury brands are not exclusive, all the contrary. They are never complacent, always questioning themselves, pushing the boundaries and always sharing what they’ve learned along the way. Luxury means never compromising on quality and leading by example.”

Luxury should aim to be accessible and inclusive

We have to be very careful with all this exclusivity and this attitude, because it ends up being seen as arrogancy and consumers don’t forgive you for it. You always have to look for ways of being inclusive. Too expensive by the bottle? Be accessible by the glass so that more people can experience your wine. Inclusivity is an attitude, accessibility means that your wine is largely available on the market. You don’t have to be accessible by everyone to be inclusive.”

Marketing theories that work for luxury products don’t necessarily work for Fine Wine

“The theories that are behind luxury brand-building, they fail to work for fine wines, or what people call luxury wines. We don’t have full control of our distribution chain for a start

Luxury means always questioning yourself and pushing boundaries

“If you don’t move, you will be killed. And if you get moving, you will inspire. Don’t be scared of imitation. Because if you are luxury, in the pure expression of this word, you will always re-invent yourself and keep moving forward, making sure you share what you learn along the way as broadly as possible. You have to make sure you keep lightening the path forward.”

Luxury means taking your responsibilities

“There are two axis that are going to be an absolute request for luxury houses: to do good by people and go beyond the notion of product to do good, and taking care of the planet. We have to do both.”

Don’t take your customers for granted

“Never think consumers are stupid. I think my consumers are brilliant, all of them. I spend days talking about our wines to different crowds, listening to them is where I get most of my inspirations”