September 23, 2019
The Luxury Item is a new podcast hosted by Scott Kerr, founder/president of brand strategy company Silvertone Consulting. It is a podcast on the business of luxury, and the people and companies that are shaping the future of the luxury industry.
In these episodes, Mr. Kerr will have insightful and revealing conversations with a diverse set of decision makers, entrepreneurs and innovators on topics that matter most for the global luxury and fashion industries.
"The goal of the Luxury Item podcast is designed to help marketers understand with greater clarity the dynamics of change in the luxury market that are impacting their business, category, brand and customer,” Mr. Kerr said.
“With the help of guest experts, the podcast will give listeners invaluable insights about the future direction of the luxury industry,” he said. “I’m hoping the key takeaways will provide fresh growth opportunities for marketers.”
On the first episode of the Luxury Item podcast, Chris Olshan, CEO of the Luxury Marketing Council, talks to Mr. Kerr about how the organization started and evolved to address today's challenges in the luxury space.
The duo discusses the transformative impact the 2008 financial crisis had on luxury goods and luxury shoppers, and the key to decoding the millennial mindset.
"The biggest disruptor in the luxury category is the rise of entrepreneurship,” Mr. Olson said on the podcast.
“The ability for any individual to create a product or service, market it online, in the right select cities, and turn something small into a major luxury brand ... Anybody can become a luxury brand," he said.
Mr. Olshan also shares what he believes will be the biggest disruptor in the luxury business in the next few years and what heritage brands can do to stay relevant. He also reveals the one luxury item he would have if he were stranded on a desert island.
"For luxury companies, their biggest challenge is navigating the new technology platforms without betting too hard on one race horse," Mr. Olson said.
"The future of retail is going to be less about buying in-store, and more about showroom,” he said. “That is a given."