Luxury consumption is experiencing a paradigm shift, driven by the evolving preferences of Millennials and Gen Z. This progression was explored during the orientation of the MGLuxM Batch 14, where industry leaders came together for an insightful panel discussion on the changing face of luxury.
The event was inaugurated by a lamp lighting ceremony symbolising the illumination of knowledge and the beginning of a new journey.
The panel, which included esteemed personalities like Zeba Kohli (Chocolate Sommelier, Taster & Consultant, Author of 3 books, TV show host, and TEDx speaker), Parthip Thyagarajan (CEO and Co-founder of WeddingSutra.com), Monal Prabhu (Director of Sales, Hotel St. Regis), and Dia Sachanandani (Sales Director - The Right Side, Reliance Brands Limited), delved deep into the subject of contemporary luxury consumption.
Moderated by Smita Jain (Director - Master in Global Luxury Goods & Services Management and Master of Science in Hospitality Business Leadership), the discussion touched upon various facets across several sectors, like thrifting, reselling, the evolving landscape of chocolates, the realm of weddings, and the transformative impact of advanced technology on the luxury sector, giving students a comprehensive understanding of its dynamic landscape.
The discussion provided the students with a glimpse into the dynamic world of luxury, giving them valuable insights into navigating the industry's complexities and anticipating future trends.
Following the panel discussion, students were treated to an enlightening alumni talk with Gaurav Sharma (Batch 6), a Client Advisor at the Astaguru Auction House, and Rhea Singh (Batch 7), a Marketing Executive at Estee Lauder. The former graduates shared their personal journeys throughout the MGLuxM program and offered insights into the evolving landscape of luxury.
The event concluded with an interactive Q&A session, providing students with the opportunity to glean insights from industry experts and seasoned alumni.
In conclusion, the orientation was a massive success and served as a platform for rich discourse and exchanging ideas, reaffirming the importance of staying abreast of consumer preferences in the ever-evolving luxury landscape.