Company History At Hermès, aspiration for perfection, passion for the future and respect for the past have been inextricably linked since 1837 and six generations of passionate entrepreneurs and artisans have dedicated themselves to creating objects of the highest quality. From the very start, as harness makers, to the rich and original collections made today, their core values remain the same –freedom of creation, exquisite craftsmanship, innovation and excellence. A family-owned company, Hermès is managed by CEO Axel Dumas, under the creative direction of Pierre-Alexis Dumas, both from the sixth generation of family members. The architecture agency RDAI, under the direction of Denis Montel, is responsible for designing all Hermèsstores around the world. The full range of products is available worldwide through a network of 308 exclusive boutiques.
Hermès sought inspiration from the LEF students on a strategic approach to reach new millennial clients through their fashion jewelry collection. With the rapidly changing retail landscape and the habits of the target client in mind, students proposed ways to engage these clients via new in-store, social, and online activations.
The 3-C’s Excellence Journey
The six-person team from Columbia Business School formulated recommendations with a 360-degree approach, based on two weeks of mystery shopping conducted digitally and physically, visiting over twenty brands and with more than 120 hours spent on online research. The team came up with three final recommendations which address the important issues of in-store engagement, brand-initiation of new millennial clients, product discovery and storytelling, and the omnichannel experience.
With the goal of attracting new customers into the Madison Avenue Flagship, students conceptualized the “#SelfieClicH”in-store activation. This space is a fun and interactive space within the Hermès boutique which gives the millennial recruitment client an opportunity to play with the product and let her guard down.
A second proposal is the creation of the “Carte H,”imagined as a product information and storytelling tool. Every recruitment client visiting the store will have a unique experience and therefore a unique documented ‘story’ with to take away.
The third element of the students’ proposals is the concept of “Comfort H,” an internal guideline/approach for the Sales team to implement, based upon the unique psychology of the millennial recruitment client.
Giovanna Campagna, Columbia Business School
Khyati Gupta, Columbia Business School
Federico Ofman, Columbia Business School
Eleanor Thadani, Columbia Business School
Catherine Smith, Columbia Business School
Jacinta James, Columbia Business School