Ivana Lakovic at the Financial Times Luxury Summit in Venice 2024

Jun 08 2024

The President of Adriatic Luxury Business Association, Ivana Laković, recently attended the
renowned Luxury Summit in Venice, surrounded by global leaders in the luxury industry. This
prestigious event brought together the most influential voices to discuss the future of luxury,
technology, and craftsmanship.

The summit featured key insights from industry titans, including Francesca Amfitheatrof,
Artistic Director of Louis Vuitton, who emphasized that LVMH DNA lies in – ‘’Modern
technology and craftsmanship!”

Andrea Guerra, CEO of Prada, shared his powerful vision with the statements,”BE YOURSELF,
ALWAYS!” and highlighting that the number one stakeholder is always – Founders. Guerra also
elaborated on Prada’s strategic approach, saying, "I see all the projects as journeys. Every luxury
project is a specific journey, each telling its unique story. Miu Miu, for example, is a
manifestation of Mrs. Miuccia Prada's vision of happiness. Italy itself is both a profit
powerhouse and a cultural sculptor, carving the future of luxury. With 70% of luxury goods
currently produced in Italy, our influence is undeniable. As for acquisitions like Armani or
Versace, Prada remains steadfast in our commitment to nurturing and growing our own
brands.”

Ivana Laković, President of ALBA, provided a global perspective, noting, "In this multipolar
world, where coexistence is key, the most influential countries include the USA, China, and
Saudi Arabia. Notably, China accounts for over 30% of global production of everything.”; She
also highlighted the significance of travel retail in 2024, stating, "One of the main focuses in
2024 is Travel Retail– many of the first-time purchases happen there, including jewelry,
watches, perfumes, wines, spirits, and fashion. This is because of the escapism state of mind.”

Stéphane de la Faverle, Executive Group President of Estée Lauder, shared insights on
consumer loyalty and the impact of social media, saying, “Create a LOVEMARK. If you provide a
memorable experience, you will earn the time and loyalty of your consumer.” He also remarked
on the influence of social media platforms, stating, “TIK TOK produced the new generation of
fragrance lovers. It is the huge driver in the beauty industry.”
This gathering of leaders and visionaries provided a valuable platform for discussing the
evolving landscape of luxury and the role of technology and craftsmanship in shaping the
future. Ivana Laković’s presence at the summit underscores The Adriatic Luxury Business
Association’s commitment to staying at the forefront of the luxury market.