“Our model journey in Thailand started 5 years,” says Mr Chaya.
‘The shift to creating new status luxurious perfumes results in extraordinary personalisation, intimate with emotion”, says Marc Chaya, chief government and co-creator of Maison Francis Kurkdjian.”Creativity, high-quality craftsmanship and seamless buyer experiences are key differentiators to develop this enterprise sustainably and develop into a market chief, even for a 14-year-old firm,” he says.
With a background in finance, working with world advisory agency EY, and a private ardour for artwork, structure, drawing and literature, Mr Chaya gained the popularity of grasp perfumer Francis Kurkdjian and collectively they launched Maison Francis Kurkdjian in 2009.
As it grew to become a luxurious perfume powerhouse, spreading all through Europe and to the United States, it entered the fold of the LVMH Group in 2017.
“Our model journey in Thailand started 5 years in the past and we have seen a pure development, from Siam Paragon to EmQuartier and now our first flagship retailer at Iconsiam,” says Mr Chaya.
Singapore and Hong Kong have additionally been added to the combination and the Maison simply opened in China, with a boutique at Nanjing-Deji division retailer and a web based presence on TMall.
Maison Francis Kurkdjian perfumes.
At Iconsiam, Maison Francis Kurkdjian Boutique not solely attracts vacationers of their droves but additionally tons of locals who account for half of its foot site visitors.
“Although it is a difficult time with the prospect of financial recession, we’re not afraid. When we began out in 2009, there was in a world recession, too, so we all know it would cross,” Mr Chaya says.
“The creative luxurious perfume sector through which we function may be very resilient to financial downturn, together with the pandemic.”
Throughout the pandemic, the model grew 200% globally as extra clients embraced the ultra-high finish perfume class.
“Perfume is important for all times and makes us really feel good. People are keen to put money into such issues and perfume is a component of that.”
The luxurious section has stood up effectively and that is the place the model’s clients originate.
Maison Francis Kurkdjian “Executive’s Thought” 11/11/22
“People who used to purchase extra mass-market, broadly accessible manufacturers are actually interested in high-end, distinctive and extra unique fragrances,” he says.
“This is an actual motion that has been taking place for the previous 10 years, beginning in Europe and the US, and for the previous three years we have now been seeing it increasing globally and rising dramatically.”
“Perfume has been mass marketplace for the final 80 years however our clients are extra refined, demanding upscale real experiences. They need to have a extra singular, extra private expertise,” Mr Chaya says.
“Our clients are interested in one thing that’s distinctive, artistic and significant. They take pleasure in our perfume as a result of it takes them on a sensory journey, it tells a narrative, it has sure qualities. They take pleasure in the way it sits and lives on their pores and skin, and the way it’s not broadly accessible. It’s one thing very private that they’ll expertise on their very own phrases.”
In Maison Francis Kurkdjian’s view, luxurious perfume is outlined by Francis Kurkdjian’s extraordinary genius and creativity, melded to extraordinary high quality and a novel buyer expertise.
The Maison Francis Kurkdjian flagship retailer at Iconsiam.
“As a artistic home, our price proposition is that our creativity and craftsmanship are our key differentiators.”
Now the trade is being challenged to maneuver away from simplistic advertising and marketing to real creation by telling the client a real story.
“Our trade has been fed by advertising and marketing for too lengthy. Marketing enabled nice issues by empowering magnificence however advised customers false messages akin to calling one thing ‘100% pure’ and saying something much less is harmful or that one thing can destroy the land’s phreatic water,” says Mr Chaya.
Another urgent problem comes within the guise of sustainability.
“We are significantly rising our efforts in direction of sustainability,” says Mr Chaya. “This shouldn’t be a advertising and marketing proposition however a matter of human duty to our planet.”
As such, beginning subsequent 12 months, Maison Francis Kurkdjian perfume bottles will likely be refillable whereas elements doubtlessly dangerous to nature will likely be eradicated.
Packaging for some merchandise is being decreased by as much as 60% from 2023. Maison Francis Kurkdjian can also be placing its creativity on the service of sustainability by developing with reward wrapping options which are extremely fascinating but much less wasteful.
“Sustainability shouldn’t be a aggressive issue for manufacturers in our trade. We are all within the race to rework our provide chain, at the very least by recycling paper and eliminating microplastics. We have to work collectively, cease spreading false messages, and get actual,” Mr Chaya says.
“Within the definition of luxurious there’s creativity, magnificence, sophistication, sturdiness. It’s one thing that may survive time. When we launch perfumes, we need to be right here in 100 years’ time. We don’t need out and in, new launches usually are not imagined to kill earlier creations.”
The upshot is world bestsellers Baccarat Rouge 540, Gentle Fluidity and À la rose.
Mr Chaya, centre, and Vinod Dadlani, CEO of Prestige Group, Maison Francis Kurkdjian, and Prestige Group administration, third from left, on the Maison Francis Kurkdjian flagship retailer at Iconsiam.
Maison Francis Kurkdjian additionally prides itself on its regular progress with selective distribution specializing in high quality and excessive profitability.
“We do not open many doorways. After almost 14 years in enterprise, we have now 750 doorways globally, which may be very little in comparison with mass market manufacturers which have over 40,000 doorways.”
In Thailand, Maison Francis Kurkdjian has three factors of distribution which can doubtlessly rise to 5.
Meanwhile, supply of the client journey will concentrate on retail shops, shops, and shop-in-shops.
The agenda with China is to make it a formidable springboard for additional growth. The first boutique was opened earlier this 12 months at Nanjing Mall and three boutiques are tipped to open yearly over the subsequent 5 years whereas additionally rolling out in shops.
Every door must be productive and worthwhile. And to date, it’s. Maison Francis Kurkdjian already ranks within the high 5 in Asia, high three in Europe, and no.1 within the US.
“The key to success is an ecosystem the place we have now the best location, product and coaching. The proper expertise is crucial in-store to realize buyer desirability and retention,” says Mr Chaya.
During the interval 2019 to 2021, Maison Francis Kurkdjian grew in triple digits globally. It recorded double digit progress this 12 months, whereas the trade had single digit progress.
REFLECTIONS OF A NEW IDENTITY
The identification is eloquently mirrored within the newest Maison Francis Kurkdjian boutique at Iconsiam.
“It’s very snug, elegant, up to date and complicated, with a feelgood brightness that does not upstage the important perfume story,” says Mr Chaya.
Echoing Parisian structure, sensorial mineral supplies akin to Lutetian limestone, marble and fluted concrete are enhanced by contrasting gold and wooden particulars.
Referencing the Maison Francis Kurkdjian monogram, a Ok-shape is used within the perfume show desk profiles and the structure as within the Paris retailer.
So far, the brand new identification has been rolled out in round 20% of the model’s retailers, together with Singapore and Nanjing in addition to Bangkok. Hong Kong will likely be subsequent.
Why Thailand? “We selected to open our personal boutique right here because the nation is refined with ultra-high finish retail, artwork of dwelling and tradition that completely matches our mannequin,” says Mr Chaya.
Next 12 months, will see the launch of thrilling new merchandise and the roll out of wider personalised perfume bottle engraving providers. Home and physique ranges akin to physique lotions, candles and even a detergent will line up alongside the perfumes.
Since the pandemic drove on-line buying, Maison Francis Kurkdjian noticed 30% of whole gross sales made on-line and this 12 months the determine reached over 35%.
To obtain this, the entire on-line expertise needed to be upgraded with a designer consumer expertise that may be a pleasure to navigate. To make it extra immersive, on-line occasions, grasp courses and personalised providers have been added. Free transport and free returns are additionally half of the package deal.
“We attempt to make our on-line utterly coherent with our offline with a real omnichannel strategy.”
Online can entice new clients by way of, for instance, on-line sampling the place clients should purchase pattern units after which have the value deducted from their precise order. Going ahead, 30% of enterprise income will come from the retail boutiques and on-line, the remainder from division retailer places.
“We discovered a lot within the pandemic and found how our goal clients yearned to really feel good and particular at residence. We discovered that luxurious perfume helps them really feel in contact with their feelings and their soul,” Mr Chaya says.
“Now that we’re post-pandemic with open journey, customers allocate finances to various things.”
“Nevertheless, this class has seen lots of untapped progress potential. A buyer can personal a mass market scent but additionally determine to embrace the status class. People are shopping for a couple of scent today,” he says.
“They have a set of scents and alter their perfume daily in accordance with their emotion whereas beforehand folks would keep on with one cent all their life,” says Mr Chaya.
“Compared with vogue, luxurious and jewelry, the common language of perfume remains to be approachable. Everyone has an interior youngster and Maison Francis Kurkdjian awakens your soul to it.”