Future of Luxury Discussed at Sole 24 Ore Summit

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MILAN — What’s the future of luxury? That’s the major question that Gerd Leonhard, future strategist and chief executive officer of The Futures Agency, tried to answer with the speech he gave on Wednesday in Milan during the Luxury Summit organized by the 24 Ore Business School, in collaboration with economic newspaper Il Sole 24 Ore. “Millennials and the Generation Z expect very specific things from companies: a holistic business model, circular economy and the respect of human rights,” said Leonhard, who put the focus on embracing technology while preventing any sort of de-humanization. “Passion, persuasion, imagination and storytelling are essential to the future and they cannot be achieved through technology and machines.” In addition, Leonhard highlighted those he thinks will be the luxuries of tomorrow: off-line, privacy; not exponential growth, and experiences. The idea of experience is at the center of the strategy that Giovanni Tamburi, president and ceo of investment merchant bank Tamburi Investment Partners, is developing with Italian retailer OVS, which operates 1,700 stores. In March, TIP invested 74.9 million euros in the company, becoming its main shareholder with a 22.7 percent share. “We want to move from the idea of purchase to the concept of experience,” said Tamburi. “Amazon can

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