T H E
M A G A Z I N E
FRENCH CHAMBER OF GREAT BRITAIN www.frenchchamber.co.uk
F O R
A N G L O - F R E N C H
B U S I N E S S SUMMER 2019
IN THIS ISSUE: Reports from the London Luxury Think Tank, including an interview with Robert Skinner, Executive Director of the United Nations Office for Partnerships An exclusive Brexit interview with Guillaume Bazard, Consul Général de France ‘Five Minutes with’ Nicola Lovett, CEO UK & Ireland, ENGIE And much more…
EDITORIAL
Fabienne Viala President, French Chamber of Great Britain Chairman of Bouygues UK and UK Country Director of Bouygues Construction
A
s we enter the summer months and a period of time reserved for well-earned rest and relaxation, I’m delighted to introduce you to this very special issue of INFO. It centres around a flagship event: the London Luxury Think Tank organised by the French
Chamber of Great Britain in partnership with Walpole, and with the sponsorship of PwC and HEC. This marks the second edition of the event, which was established in 2017 as a platform for high-level
engagement on topical issues between leaders, pioneers and disruptors from across the luxury sector. This year, the theme of sustainability was at the heart of the event, with the question ‘What makes luxury sustainable’ driving an agenda of talks, discussions and debates about the challenges and successes of an industry in transition. We were honoured to welcome the United Nations Office for Partnerships to the event this year as Official Partner, where we learned more from their Executive Director Robb Skinner about the Sustainable Development Goals and the need for their urgent application across the industry. This issue of the magazine reflects the key findings of the conference. Luxury brands are increasingly adopting sustainable business practices, while others are embarking on creative projects to connect with ethically-minded consumers. The twenty-page Focus section explores the sub-themes of reuse and recycling, sustainable production, and marketing and communication strategies, in addition to a wealth of other material examining the latest trends in the sector. Bringing together reports from keynote speakers, contributions from industry leaders, inspirational stories, I hope that this issue will be useful and, above all, provide you with a stimulating and thought -provoking read. As always, INFO is brimming with news and content from our member companies, as well as reports on the important work of the Chamber, including summaries of the Forum & Clubs and Events. This issue also continues our celebration of the 40th year of publication of the magazine with another feature looking back at past issues. I hope you enjoy this special issue and I look forward to seeing you in the autumn. I
info
- summer 2019 - 3
64
54 39
30 6 8 10 15 28 29
58 60 62 64 65
Five minutes with... Nicola Lovett, ENGIE Brexit: Analysis and look ahead Interview: Guillaume Bazard, Consul Général Business News Education News Reports & research
FOCUS | SUS TA INABLE LUXURY
CULTUR E AND LIFE S T YLE
50 Culture: What's on 53 Book reviews by Institut Français 54 Feature: Manolo Blahnik at The Wallace Collection 56 Wine Story by Thibault Lavergne
T H E
FORUMS & CLUBS
68 69 70 71 72 73 74 75
Digital Transformation & Innovation Forum Employee Advocacy Digital Transformation & Innovation Forum AI: Does It Exist? Retail Forum GDPR: Twelve Months On Consumer Brands Forum Current & Future Consumer Trends Climate Change & Sustainability Forum The EU Emissions Trading System Finance Forum Digitisation of Finance Functions Luxury Club Thomas Pink Forthcoming Forums & Clubs
M A G A Z I N E
F O R
A N G L O - F R E N C H
FRENCH CHAMBER OF GREAT BRITAIN www.frenchchamber.co.uk
B U S I N E S S SUMMER 2019
IN THIS ISSUE:
SUMMER 2019
30 Introduction 34 The New Sustainable Consumers Megan Higgins & Sue Rissbrook, PwC 36 Redefining Luxury Retail Matter of Form 38 A Positive Message for Fashion Caroline Rush, BFC 39 Slow Fashion Doina Ciobanu 40 A Role for Luxury in Sustainability Robert Skinner, United Nations 42 The Age of Resale James Harford-Tyrer, Cudoni 43 How to Build a Sustainable Brand Kresse Wesling, Elvis & Kresse 44 The Colour Connection Valérie Corcias, mycoocoon 45 Rethinking Aftercare Mathilde Blanc, Blanc 46 Lab vs Mine? De Beers & Swarovski 47 Diamonds Under the Loupe Alessandro Borruso, Southeby's Diamonds 48 LLTT: Sustainable Start-up Award 49 Winner Interview: Hurr Collective
Introduction by Florence Gomez Annual General Meeting INFO 40: A Look Back at Luxury Business Centre Interview Empreinte Signs New Members
MAKING GOOD: THE SUSTAINABLE EVOLUTION OF LUXURY
AT THE CHAMBE R
INFO
BUSINE S S WOR LD
CONTENTS
36
34
Reports from the London Luxury Think Tank, including an interview with Robert Skinner, Executive Director of the United Nations Office for Partnerships, an exclusive Brexit interview with Guillaume Bazard, Consul Général of France in the UK, ‘Five Minutes with’ Nicola Lovett, CEO UK & Ireland, ENGIE And much more…
Managing Director: Florence Gomez Editor: Jakob von Baeyer Cover & Graphic Design: Katherine Millet Assistant Editor & Production Manager: Suzanne Lycett Publications Assistant: Marie Koziol Contributors: Robert Skinner, Caroline Rush, Mathilde Blanc, Doina Ciobanu, Kresse Wesling, James Harford-Tyrer, Megan Higgins, Sue Rissbrook, Matter of Form, Valerie Corcias, Dr Xavier Bray, Alessandro Borruso, Suzanne Lycett, Marie Koziol, Thibault Lavergne
CHAMBER EVENTS
76 77 78 79 81
Breakfast with Barrett West, Tiffany & Co. Seminar with Aurexia Jardin Blanc & Dîner des Chefs Past event highlights Henry Moore; London Philharmonic Orchestra; Rendez-vous chez EOL Group; Rendez-vous chez Bell & Ross; Rendez-vous chez The Mandeville Hotel; PA Club at Hyatt Regency London Forthcoming events
Advertise in INFO: Please call our sales team on +44 (0)207 092 6651. Alternatively, please email: advertising@ccfgb.co.uk INFO is published every two months Printed by: CPI Colour Distribution: French Chamber members, Franco-British decision makers, Business Class lounges of Eurostar, Eurotunnel and Air France in London, Paris and Manchester
INFO is published by: French Chamber of Great Britain Lincoln House, 300 High Holborn London WC1V 7JH Tel: (020) 7092 6600 Fax: (020) 7092 6601 www.frenchchamber.co.uk
info
- summer 2019 - 5
Five minutes with...
Nicola Lovett CEO UK & Ireland, ENGIE
INFO speaks with the energy and services company boss on her priorities for digital transformation and achieving net zero-carbon Tell us about ENGIE’s activities in the UK.
supplying energy. In fact, by 2020 close to 50 percent of our
ENGIE is an energy and services company focused on three
UK revenues will come from business, which combines these
key activities: production and supply of energy, facilities
elements together. Energy will also increasingly become
management of buildings and the shaping of places through
embedded directly in buildings and places - produced and
regeneration. We employ over 17,000 people across the UK
stored locally, with smart optimisation. Much of this is being
who combine these capabilities for the benefit of individuals,
driven by technology and analytics and creates opportunity on
businesses and communities. Our aim is to improve lives
a massive scale.
through better living and working environments, balancing performance with responsibility. Our business has grown rapidly in recent years with
By combining our core activities, I believe we are well positioned to take advantage of these changes and provide long-term, value-adding solutions for our customers.
strong development in areas such as energy efficiency and renewables, particularly offshore wind, as well as through the
What are the challenges of a company with such a
integration of strategic acquisitions. These include Keepmoat’s
diversified portfolio of activities?
regeneration business in 2017, which created a leader in local
What people might perceive as our biggest challenge – the size
authority placemaking, and also a number of smart building
and scale of our operations – I actually see as an opportunity.
and digital companies, which help us enhance building
Being a large business across many sectors means that many
efficiency and user experience. Last month we completed the
of our customers often only ever know ENGIE for a singular
acquisition of an electric vehicle public charging network and
activity. Within our complimentary range of capabilities there is
solutions provider ChargePoint Services, which will allow us to
often much more we could do to help customers.
further our ambitions in this market. The unique combination of our activities will assist us with
For example, you can unlock much greater value for a customer by managing the whole process of operating
our ambition to help make the zero-carbon transition possible
an entire building, or portfolio – across energy, facilities
for companies and local authorities across the UK.
management and the lifecycle requirements of their estate. Bringing together our skills and expertise in more than one
What major trends are you seeing your own markets?
area enables us to deliver tailored customer-led solutions and
The markets in which we operate, especially the energy
helping them to achieve their goals.
industry, have changed dramatically in recent years. The
Our teams work hard to leverage all of the expertise
‘energy transition’ has seen a shift towards a decarbonised,
available across the Group to meet the unique needs of a
decentralised and digitalised energy system. We are now
customer and enable them to benefit from synergy between
experiencing the second wave of this transition, the necessary
activities, or deep sector expertise that has been developed
drive towards zero-carbon, or net-zero.
over many years.
The future will still require investment in flexible and renewable energy infrastructure, but at a local level this will
ENGIE is active in digital transformation and smart cities.
be delivered alongside cost-effective services, as part of a
How can we ensure that these new technologies and
broader integrated solution. We have seen a real convergence
solutions are also environmentally sustainable?
in energy and services activity for our customers meaning
From the outset, our customers want environmentally
that there is now more value in energy reduction than in
sustainable solutions – that is, where our focus increasingly
6 - info - summer 2019
F I V E M I N U T E S W I T H . . . N I CO L A L O V E T T
lies and where we believe our future growth will be. Our
What other priorities do you have for the business going
ambition is to be a leader in providing a service that helps
forward?
businesses and local authorities in the transition to zero
UK energy and service companies are facing evermore
carbon.
public scrutiny of their business and so for ENGIE to show
The fabric of cities is changing through the evolution of
leadership in responsible business practice is something I
buildings, the adoption of smart technology bringing greater
feel very strongly about. To that end we have established a
energy efficiency and the inclusion of embedded PV, battery
formal Responsible Business Charter last year and appointed
storage capabilities and smart grids. Green mobility solutions
an independent Scrutiny Board, chaired by Lord Kerslake to
will require energy to be incorporated within homes and
oversee our progress. The Charter ensures transparency and
places.
accountability on critical issues including supplier payments,
Today two percent of new cars sold in the UK are ultralow emission - to meet climate changes commitments, this needs to be 60 percent by 2030. In the green mobility space,
pension obligations, environmental and social responsibility, living wage, diversity and inclusion. In terms of growth, I mentioned them before, but there
we are currently working with over 30 local authorities, as well
are two areas, both enablers of a successful transition to a
forecourt owners and retailers to increase access to public
zero-carbon economy that we see as a continued priority
charging facilities. This growing charge point network requires
to develop. They are smart building technology in homes,
a significant digital infrastructure.
businesses and places and also the deployment of electric
We are also supporting cities and local authorities by
vehicle infrastructure. Finally, but perhaps most importantly,
looking at societal trends such as an aging population and
retaining a strong focus on our employees will always remain
the types of solutions that they will require. Not only will this
a priority. We are committed to many employee engagement
be achieved through the provision of age-adaptable living
activities, such as career development, training and employee
solutions – such as ENGIE’s retirement living developments,
benefits, in order to support staff retention and also to attract
but also by using technology to enable people to live
the best talent in our markets. An engaged workforce is the
independently for longer, easing the burden on social care.
key factor for any successful business.
ENGIE is able to deliver smart city solutions, encompassing localised energy supply and green transport infrastructure as
How has Brexit impacted your business or decision-
well as optimising the efficiency and usage of buildings.
making? We do not anticipate a significant impact from Brexit on
How does your work complement recently announced UK
ENGIE’s UK business. The decision to leave the EU has also
government targets to achieve net zero carbon emissions
not affected our view of the market or our capacity to develop
by 2050?
our business within the country.
As a signatory to the open letter from business to the
We remain committed to the UK and will continue to invest
Government, I was delighted to see the recent move to
here to meet the needs and expectations of our current and
legislate for net-zero in the UK by 2050.
future clients. Since the referendum was taken in 2016, ENGIE
ENGIE is very closely aligned with this ambition. Both globally and in the UK we are committed to working with our
has made several significant investments in the UK in areas including offshore wind, regeneration services, digital and EV.
customers to deliver programmes to achieve net-zero carbon emissions. We will deploy technology and digital solutions to
What does being a Patron member of the French Chamber
reduce energy consumption and improve energy efficiency
mean for ENGIE?
– and importantly look to, in some cases, finance this for our
ENGIE is a large UK business with 17,000 employees, but
customers.
being part of an international Group, we still have a strong
I believe that 2050 is realistic as a national target;
French heritage and close ties with our parent company in
however, we are committed to supporting businesses and
France. The Chamber is a great vehicle to network with senior
local authorities to achieve the transition much sooner where
business stakeholders, many of whom are from multi-national
possible. At a more local level, cities including Glasgow and
companies like ourselves. It can also provide us with valuable
Edinburgh are striving to be the first net-zero city in the UK by
support and insight on topical issues as well as access to key
2030 and major companies such as BT (2045) and Carlsberg
relevant events and forums. Post Brexit, the French Chamber
(2030) have made pledges that will deliver net-zero many years
will also have a critical role in maintaining and supporting the
before the national target.
strong industrial and commercial relationship between France and the UK. I Interview by JvB
info
- summer 2019 - 7
Analysis and look ahead INFO looks at the latest news on Brexit and its impact on the Franco-British community
B
rexit continues to dominate the UK political landscape,
eurozone. ‘At some point the slowdown may reach bottom, and
and specifically the Conservative leadership race, which
we want to have the monetary instruments in place to avoid
has whittled down to two candidates at the time of printing.
this becoming a recession,’ says Societe Generale SA Chairman
Boris Johnson, former Foreign Secretary and MP for Uxbridge
Lorenzo Bini Smaghi.
and South Ruislip, is the clear frontrunner, with Jeremy Hunt,
Leadership in the EU is changing, too. But there are no signs
Secretary of State for Foreign and Commonwealth Affairs, the
that negotiations will be re-opened, as some have said would be
bookies’ longshot.
possible. Outgoing President of the European Council, Donald
The prize is a seemingly unenviable one. With growth
Tusk, said ‘I am absolutely sure that the new leaders of our
slowing in the UK as the Brexit deadline of 31 October looms
institutions will be as consistent as we are today when it comes
and ‘recession’ is being bandied about in hushed tones. The
to the withdrawal agreement.’
CBI predicts that Britain is heading for the biggest decline in business investment since the 2008 financial crisis.
Both Johnson and Hunt aim to renegotiate the withdrawal agreement. And have said publicly that they are prepared to leave with no-deal, if necessary. Four months until the deadline
In Germany, factory orders slumped in May. The UK’s plan to leave the EU is playing its part in raising economic risks in the
seems increasingly short, considering the almost three years it’s taken to get to here. I
Key dates 25 July - Tory leadership
22 September - 2 October - Party
31 October - New Brexit deadline
deadline
conferences
The six-month article 50 extension
Expected deadline for a new
Conferences for Labour and
should expire on this date.
Conservative leader to be installed.
Conservative parties, held on consecutive weeks.
If there is no prospect of a deal that can get through Parliament, then I will leave at the end of October because that is our democratic promise to the British people JEREMY HUNT, Secretary of State for Foreign and Commonwealth Affairs, on 30 June 8 - info - summer 2019
[Our partners] have to look deep into our eyes and think, my god, these Brits actually are going to leave. And they're going to leave on those terms BORIS JOHNSON, MP for Uxbridge and South Ruislip, on 6 July
Sponsored by
Brexit Forum update The latest session of the Brexit Forum gathered and heard reassurance on the importance of the business voice in negotiations
T
he UK was supposed to leave the EU on 29 March. This deadline was
pushed back to 12 April and again to 31 October. The Forum session on 9 May, intended to be the first postBrexit session, found itself once again discussing from the UK’s tenuous position still within the EU framework. Susannah Storey, Director General at DExEU, and Christian Fatras,
Economic Counsellor of the French Embassy, were present to comment on developments. The session was co-chaired by Angela Hepworth,
relationship going forwards. This
digital, the circular economy etc should
Corporate Policy and Regulation
shouldn’t undermine the single market.
be maintained.
Director, EDF Energy and Neil Sherlock
A new balance must be found.
CBE, Senior Advisor, PwC.
The short timescale for negotiations
Fatras references the Gravity Theory of Trade: countries are attracted
is a key concern. To meet the deadline,
to other countries of a similar size
The story so far
negotiations will likely take place in
(GDP) and proximity (trade costs). The
Susannah Storey highlights the progress
parallel. Each policy area will meet their
emerging markets may therefore not
that has been made in negotiations.
counterpart department in order to
offer a concrete alternative to trade
These have developed sequentially.
advance rapidly.
with mainland Europe. He says the UK’s
First, the core of the withdrawal
Storey emphasises that the
natural partners are on the continent.
agreement was set. Second, the
government would like to create
outline of a political declaration is
further engagement with the business
Macron has taken a strong stance
being developed, but currently has no
community to hear their concerns
during negotiations. But Fatras says
substance.
through forums such as the Chamber’s.
this is in order to provide a fresh start.
However, the government cannot easily
With new people in the EU parliament,
218 is now of key importance. This
advise on the long-term for businesses
commission and central bank, it’s best
defines what relationship the UK wants
until the future relationship deal has
to start on a new basis.
with the EU and what the EU wants
been ratified.
Over and above Article 50, Article
from the UK. However, the outline is
French President Emmanuel
However, he also comments on the fact that we are commemorating the
theoretical as there is currently no
The French perspective
75th anniversary of the D-Day landings
parliamentary consensus. This reflects
Christian Fatras underlines the
this year. He says that ‘Symbolism is
the conflicting sentiments of the country
economic importance of the current
strong in the UK.’ To maintain the strong
at large on the best route to take.
Franco-British relationship. There is a
relationship between our nations,
Storey comments that the two
trade surplus of €13bn with the UK; on
he says that we should focus on this
entities have been very integrated
average this surplus is €6-8bn. Bilateral
historical bond, rather than the daily
and now need to define a stable deep
relations for key sectors such as energy,
discussions around Brexit. I
The government cannot easily advise on the long-term for businesses until the future relationship deal has been ratified info
- summer 2019 - 9
Interview with...
Guillaume Bazard Consul Général
In this exclusive interview with INFO magazine, Guillaume Bazard, the French Consul Général, speaks about Brexit and the impact on French citizens in the UK
T
he French Consulate General in London is one of the largest
has been decided in rules. Not in legislation but in secondary
French consulates in the world. It takes care of the French
legislation – which is an issue in itself – however, there is no
community in the UK on a day-to-day basis, by issuing passports
reason to think that it will not continue to be in place in the
and IDs, and registering births, marriages and deaths. They
future for the people who are here now. The immigration rules
administer elections – recently setting up 36 polling stations
for the people who will arrive later is another story.
across the country for the European MEPs – and issue visas
I don’t see it as likely that the government would suddenly
for foreign visitors to France. Last year, they issued roughly
change and give up on settled status, but there might be
125,000 visas, of which the majority went to Chinese or Indian
adjustments. Our responsibility is to see what is on the table
citizens living in the UK. Guillaume Bazard took up his role as
and what is open to the public. We ensure sure that French
Consul Général on 3 September 2018.
people are aware of the rules and encourage them to apply.
What impact has Brexit had on your activities at the
How many applications for settled status have been made
consulate?
so far?
Brexit has brought an increase in all of our activities. What we
The Home Office published statistics in June, which showed
call ‘Etat Civil’ (civil registration of French citizens living in the
that 788,000 Europeans living in the UK have applied for
UK) has increased. In the past, many French nationals living
settled status. We have more detailed statistics up to 31 May,
here didn’t find it necessary to register their marriages or the
where the figures are broken down by nationality. These
births of their children to the French Consulate.
show that 32,300 French people have applied, which is a little
Brexit caused them to think twice, because suddenly they
bit less than 20 percent of the number of registered French
did not know what was going to happen. There has also been
people in the UK. And it’s probably less in percentage if we’re
a huge increase in issuing passports. To illustrate the point,
talking about what we think is the total French population in
last year we issued 37,000 passports and IDs. Each year since
the country.
the referendum result, we have issued an increase of ten percent.
This means that a good proportion of people are informed and taking it seriously. For the rest, they have time, at least until the 31 December 2020 if there is no deal, and 31 June
Are you confident that settled status is a long-term
2021 if the deal is approved. There’s no hurry, there’s no panic.
solution for French citizens living in the UK?
But we have to continue our efforts to inform people and to
When we talk about Brexit, certainty is something that is quite
reach out to those who are difficult to contact – which is my
difficult to comment on. But as things are today, settled status
main concern.
10 - info - summer 2019
If you would like to stay, apply for the settled status. The only scenario in which you wouldn’t have to do it is if Brexit doesn’t happen – and that would be a risky thing to rely on
community has stalled. What have you been hearing from the French community
Plus, it is important to remember that the measurement of
here in terms of concerns or of optimism?
the number of French people living in the UK is imperfect. For
We’ve been hearing that the results of the referendum came
example, when you have an increase in the number, it’s not
as a shock. This is something that took me a little time to
necessarily due to people arriving. It can be people who have
understand, what we might call the psychological dimension.
been here for a long time and who have decided to register.
We have a tendency to see things through the London
The data is not straightforward in terms of its interpretation.
community, because 60 percent of our community is in the London region. But that also means that a lot of people live
What are your priorities in terms of the messages you
outside London in quite different conditions then we see here.
would like to communicate to the French community?
In some places where the Brexit vote was strong, it has
Message number one is: If you would like to stay, apply for
been an unpleasant experience. They were happy and felt
the settled status. But it comes with some context. You have
welcome, and have been raising their children here. Suddenly
time to do it, but don’t doubt you will have to do it. The only
they found themselves in the position of questioning if they
scenario in which you wouldn’t have to do it is if Brexit doesn’t
were still welcome. This is why the psychological dimension is
happen – and that would be a risky thing to rely on.
very important to consider.
The other message I would like to communicate is: Help us spread the information. Our community is large and diverse,
Have French citizens taken the decision to leave the UK as a result?
and we fear that the message will not reach everyone. It is a concern that all the European consulates have right
We would like to have a scientific way to measure what’s
now, when attempting to reach more vulnerable parts of their
happening within the French community. The only instrument
communities. Some may have limited access to information
we have are monitoring the changes in the number of French
or may not be perfectly literate in English or lack digital skills,
people registered from one period to another. Our latest
which are important as the process to apply for settled status
figures from the 31 December 2018 show 146,000 registered
is online. Please help spread the message. I
French people. Compare that to one year before, it represents
Interview by JvB
a 0.8 percent decrease in registrations. We can therefore confidently say that there has not been
For information in French about Brexit visit the French
an exodus of French people, but there has been a change in
government portal: www.Brexit.gouv.fr
the normal trends. We used to have an increase every year by
To apply for Settled Status: www.gov.uk/settled-status-eu-citizens-
roughly this same percentage. Obviously, the growth of this
families
info
- summer 2019 - 11
Sanofi: Beyond Brexit Hugo Fry, Managing Director, Sanofi UK, details the challenges and opportunities for businesses in a post-Brexit landscape, including stockpiling, regulatory changes and talent attraction
F
or the last two years, Sanofi, along with thousands of
However, without doubt, the biggest concern for us is the
companies across hundreds of industries, dedicated many
continued uncertainty. Once we know what we are facing in
hours preparing for the UK to leave the European Union. The
the longer term, then we can work to ensure our treatments
main focus of all this work was to ensure we did all we could to
can continue to reach people in the UK as quickly as possible;
limit the impact for people across the UK, and other parts of
both existing medicines and vaccines and also those in our
the world, who rely on access to our products.
pipeline and beyond.
Much of that activity, especially for the pharmaceutical
Our focus is increasingly turning to the impact beyond
industry was on stockpiling. Since the 29 March 2019 deadline
Brexit. One of these focal points, is the need to ensure that
passed with no departure, we have been asked many times
the UK remains a leader in innovation. Access to world-class
how we will manage that stockpile going forward and how long
research and development, and the ability to attract the best
we can continue to keep it at the additional levels required by
talent, is essential to any global organisation that wants to
the Government. Our plans had always been to maintain the
remain competitive in the 21st century.
additional level of stock for around 12 months. So, providing
The UK is currently a hotbed for medical innovation. We
we leave the EU in October, as is now expected, there is no
have world-leading universities, a highly-skilled workforce
need for additional plans. And, of course, additional stockpiling
and have made discoveries that have a huge impact for
was an action taken to manage the situation if the UK leaves
people and patients all across the world. However, it is crucial
the EU without a deal. If an agreement is negotiated, there will
that we maintain momentum. We must collaborate across
be no need for mitigating plans to protect against disruption
government, businesses and academia to ensure that the UK
to the flow of medicines and vaccines in and out of the UK.
can maintain its position as a leader in world-class research and development, especially as we move forward in a post Brexit landscape. Another area of focus is the regulatory process and how that will work when we are no longer part of the European Medicines Agency process. At Sanofi, we believe that there is potential for exciting and encouraging regulatory processes, which could support the UK to remain as a leader in innovation. We recently worked with the UK regulatory body, the Medicines & Healthcare products Regulatory Agency (MHRA) on a fast track national review of one of our vaccines. The process took just seven months, compared with a standard review time of 12 months for national approvals. This expedited process showed that MHRA can be flexible and agile in their ways of working and could provide opportunities for faster product approvals when the UK leaves the EU. So, whilst we know there are challenges ahead for our industry as well as many others in the UK, we feel confident that there will also be opportunities.
Access to world class research and development, and the ability to attract the best talent, is essential to any global organisation who wants to remain competitive in the 21st century 12 - info - summer 2019
With over 1,200 employees based here, we recently announced that we will be opening a new head office based in Reading in the Summer of 2019. This investment shows that Sanofi is absolutely committed to the UK and see it is a key market in achieving our mission to protect, enable and support people on their health journey. What is critical now is that all the players in the life sciences ecosystem work together to support investment in homegrown innovation. I
M&A and Brexit According to Geraldine Fabre, Partner and Head of French Group at Sherrards Solicitors, levels of corporate transactions remain high across the UK despite the uncertainties caused by Brexit. Here, she explores some of the issues that require particular attention from a general counsel and finance director whether your business is located in France or the UK
Mergers & acquisitions (M&A) Brexit is unlikely to have a major impact on share sale transactions unless they are affected by competition regulation, as they are typically not subject to much EU law or regulation. Asset and business sales may be affected if the regulations which protect the rights of employees on a business transfer are affected. Privacy and transfer of data to the UK As it stands, the UK will become a 'third
some uncertainties under a number
and trade/VAT/import papers should be
country' for the purposes of GDPR.
(limited) of EU regulations.
in place.
Additional measures will be required
From the exit day, the EU cross-border
to continue legitimate personal data
mergers regime will no longer be
Employing UK nationals in Europe
transfers to the UK in an acquisition of,
available to UK companies. EU member
In case of a 'no deal,' unless special
say, a French company. A decision from
states will also no longer have to
arrangements are put into place by a EU
the EU which would enable continued
implement cross-border mergers that
Member State, employing and recruiting
transfer based on 'adequacy' is not
are not completed before exit day.
new UK nationals in Europe will require
expected on short notice. Until then,
work and residence permits. Each EU
business will need to use EC Standard
Intellectual property rights and
country is currently setting out their own
Model Clauses. However, these clauses
parallel imports
set of rules.
do not cover all circumstances.
Without a deal, the UK will no longer benefit
from
the
EU
doctrine
of
Increased scrutiny on EU and UK
Merger control
exhaustion, which prohibits IP rights
foreign investments
Post-Brexit, the current EU 'one-stop
holders from enforcing their rights in
Outside Brexit, foreign ownership and
shop' for antitrust filings will no longer
respect of the resale of goods originally
investment with rules are the subject of
cover the UK. This not only means that
sold with their permission, as long as
increased scrutiny, such as (a) for the UK,
you may have a separate obligation
both sales occur within the territory of
the verification of the ultimate beneficial
to apply for and await merger control
the EU. This will give more opportunities
owners (UBOs) of English registered
clearance before closing in both the
to block parallel imports for EU members.
companies and the proposed regulations
EU and the UK, but also that conflicting outcomes are possible.
surrounding the ownership of land; Cross-border resellers
and (b) for the EU, the forthcoming EU
UK businesses which import products
Foreign Direct Investment Regulations.
EU corporate entities and EU mergers
from the EEA will acquire new obligations
Brexit is unlikely to have a major effect
towards consumers on exit day for de-
Drafting will change
on UK company law as this is an area
fective products they import under the
Most
of EU law that is largely left to individual
no-fault regime, which, until then, only
agreements will need to be updated so
member states to regulate. It could,
applied to 'first importers' into the EU.
that any reference to EU legislation still
however, affect the ability of UK-based
They will also take on the responsibili-
works and clauses such as termination,
companies to use European company
ties of 'producers' under the UK General
governing law and jurisdiction are not
structures and if the UK leaves with no
Product Safety Regulation 2005. Distrib-
affected. Older contracts should also be
transition period, there were will be
utors’/resellers’ insurance documents
reviewed and, if necessary, amended. I
acquisition
and
info
investment
- summer 2019 - 13
INNOVATION OR
INVASION
Don’t settle for black and white For the full perspective, turn to the FT Visit FT.com
NEWS
A ND
A N A LY S I S
The Notre-Dame blaze has both united the nation and divided opinion
N
otre Dame is a symbol of France. In a secular nation,
the destruction of the place of worship, during the holy week of Easter no less, touched a chord. An outpouring of emotion ensued. This was swiftly followed by an outpouring of financial support. Heads of leading companies from across the globe pledged large sums, with figures exceeding €1bn in total. LVMH and L’Oréal topped
the list with €200M pledged apiece. Other industries, from construction (Bouygues, Saint-Gobain, VINCI) to banking (BNP Paribas, Societe Generale,
Credit
Agricole),
donated sizeable amounts. Some pledged services to the efforts. Air France offered flights to all official participants in
donations in France, raising questions about the taxpayer
its reconstruction. JCDecaux offered its creative services and
footing part of the bill.
ad spaces for promotion of the fund-raising efforts.
However, Bernard Arnault, CEO of LVMH, stated that the
Pledges come not just from the top. Employees play their
luxury brand would not receive a tax deduction, revealing
own part in raising the restauration funds. ‘Air France-KLM
that his LVMH Foundation had already hit the ceiling for
group set up a voluntary donations fund for its customers to
deductions and was no longer able to claim additional
help finance the reconstruction work’, says Benedicte Duval,
benefits.
General Manager for Air France-KLM in the UK & Ireland.
Similarly, Kering CEO Francois-Henri Pinault, whose family
JCDecaux has pledged to match the total of all employee
donated €100m said that French taxpayers shouldering part
donations to the funds.
of the burden was ‘out of the question.’
Despite these charitable actions, criticism of the
With inequalities in society already flagged by the ongoing
companies contributing has been raised, across social media
Yellow Vest street protests, parallels were also drawn by
platforms, and by key social groups, such as the influential
commentators on social media to another blaze, London’s
French trade organisation CGT Union.
Grenfall Tower, where funds were raised primarily by local
At the time of the blaze, Notre Dame was already undergoing renovations, for which it had struggled to raise the €150M in funds for the repairs.
communities, not companies. Contributing companies state solidarity as the main reason for their charity. ‘An international company born in
Shortly after the blaze, a member of the National
France, we wanted to be in solidarity with the national effort
Assembly confirmed that, ‘out of nearly €700m [pledged
to rebuild this masterpiece of the heritage of humanity,’ says
Tuesday], nearly €420, will be financed by the state, by way of
Paul Hermelin, Chairman and CEO of the Capgemini Group.
the 2020 budget.’ The funds received from the private sector were also eligible for tax exemption at 60 percent, as applied to cultural
Regardless of the reasons, the end result is the same. A nationwide effort to raise a French symbol from the ashes to its former glory. I SL
info
- summer 2019 - 15
Morgan Lewis earns top patent prosecution ranking
Morgan Lewis is recognised as a global patent prosecution leader in analytics-based intellectual property company Patexia’s recently released Patent Prosecution Intelligence Report, which ranks law firms and other companies based on their patent filing activity and performance before the US Patent and Trademark Office (USPTO) during a five-year period.
AccorHotels tops Honors from the Forbes Travel Guide
Accor brand hotels received a total of 51 awards in the Forbes Travel Guide 2019 Global Star Ratings, recognising the world’s finest hotels, restaurants and spas. They are delighted by the acclaimed recognition that our AccorHotels luxury and premium brands received in all categories: Five-Star Rating, Four-Star Rating and Forbes Travel Guide Recommended.
Ardian acquires stake in recruitment platform Uptoo
Airbus and Orbital Insight launch Earth Monitor to provide geopolitical and economic insights
Airbus Defence and Space and Orbital Insight have partnered to create Earth Monitor, a powerful change analysis and insights service, which leverages Orbital Insight’s machine learning and computer vision expertise through powerful algorithms that detect changes in infrastructure and land use in near real-time, as well as identify and count cars, trucks and soon, aircraft. I
GFG Alliance acquires bank to trade with emerging markets British industrialist, Sanjeev Gupta, has completed his acquisition of Diamond Bank UK as part of a strategy to help UK businesses trade internationally, especially with emerging and Commonwealth markets. Diamond Bank UK, which was previously the British subsidiary of Diamond Bank PLC of Nigeria, will be renamed ‘the Commonwealth Trade Bank’ and will add to the financial services offering within Mr Gupta’s global GFG Alliance,
Ardian, a world-leading private investment house, announced today that it has taken a minority stake in Uptoo, the leading sales representative recruitment platform in France. Ardian’s investment will help support and accelerate Uptoo’s growth, particularly through external growth opportunities.
Bouygues Construction wins contract for Brighton University campus
The University of Brighton has awarded Bouygues Construction a 50-year contract for the financing, design, construction, maintenance, operation and life-cycle management of a new student residence on its largest campus, located in Moulsecoomb in the north of the city. 16 - info - summer 2019
comprising metals, industrials, energy, finance and property businesses. I
Cripps Pemberton Greenish advises Safic-Alcan in acquisition of Langley-Smith & Company for Newcastle The acquisition of Langley-Smith strengthens Safic-Alcan's position as a leader in chemicals distribution in the UK and Ireland and will enable the company to expand its capabilities in continental Europe. Olivier Morel, Partner and International Director, and Erin Willock, Senior Associate, led the team in charge of advising Safic-Alcan on all legal aspects of the acquisition. I
NE WS & ANALYSI S – BUSINE S S WOR LD
Christie's honoured by Webby Awards
Sotheby's to be acquired by BidFair USA
Christie’s announced today that it has been honored for Best
Sotheby’s announced that it has signed a definitive merger
Video in the Branded Entertainment, Unscripted Category as
agreement to be acquired by BidFair USA, an entity wholly
part of the 23rd Annual Webby Awards. The video, ‘Capturing
owned by media and telecom entrepreneur as well as art
a feeling of creation: Jeff Koons on Play-Doh' features works
collector, Patrick Drahi. The transaction would result in
in Koons’ Celebration Series, which includes contemporary
Sotheby’s returning to private ownership after 31 years as a
icons Balloon Dog, Hanging Heart and Tulips. I
public company traded on the New York Stock Exchange. I
LVMH announces signature of a five-year partnership with UNESCO
Consistent with its longstanding commitment to biodiversity and following the conclusions of the 7th plenary session of the Intergovernmental Science Policy Platform on Biodiversity and Ecosystem Services (IPBES), LVMH is teaming with UNESCO as a partner to the agency’s Man and Biosphere (MAB) intergovernmental scientific programme, which aims to safeguard biodiversity across the planet. I
Guerlain holds third edition of Bee University In conjunction with the International Day for Biodiversity, Guerlain organised the third edition of its Bee University programme to identify the best solutions to protect and preserve bees. The event was part of the Man and Biosphere (MAB) conference held at UNESCO to mark the International Day for Biodiversity. Bees have been an inspiration for Guerlain since 1853, emblazoning the Maison’s most precious perfume bottles. I
Grace Kelly exhibition at Musée Christian Dior The Musée Christian Dior in Granville retraces the story of the friendship between the princess and the Paris haute couture House. Grace of Monaco, Princess in Dior showcases nearly 90 dresses worn by the former Hollywood star during both public appearances and on private occasions. I
info
- summer 2019 - 17
Eurostar provides guide to help travellers with autism
Deloitte named top gender equality employer
Eurostar, the high-speed passenger rail service linking the
Deloitte has been recognised by Business in the Community
UK with mainland Europe, launches a new 360° virtual guide
(BITC) as one of the top 50 employers for women in the UK
to help travellers with autism have a smooth and stress-free
for the fourth consecutive year. In addition, Deloitte has
journey, in a first for the travel industry. Eurostar worked
been awarded a prestigious Gender Equality Game Changer
with charity Ambitious About Autism to carry out a review of
Award; this award recognises the firm’s relentless focus on
its travel experience for autistic passengers. I
respect and inclusion since 2015. I
Pinsent Masons named Top 50 Employer for Women Pinsent Masons is listed in The Times Top 50 Employers for Women' report. The endorsement is a recognition of Pinsent Masons' commitment to diversity and inclusion and follows the firm's recent ranking as Stonewall's most LGBT-inclusive employer 2019. I
Veolia calls for stricter air quality guidelines
Morgan Lewis has earned six practice rankings and 12 individual lawyer rankings across fourteen categories in the Belgium, France, Russia, and United Kingdom sections of the newly released Chambers Europe 2019 guide. I
Thales Alenia Space wins HR award
Thales Alenia Space has won the 2019 Randstad Globe Award in Italy for inspiring work content, and was also named the country’s fourth most attractive employer, by potential employees. These awards are sponsored by Randstad, the world’s leading Human Resources services company, and recognise the companies that are most attractive to employees, based on the results of large-scale branding surveys. I
AXA launches farm safety website
AXA UK is launching a risk management website to help farmers stay safe. Unveiled at the British Insurance Brokers’ Association conference in Manchester, Home Safely is an online tool that has been designed with the support of the Health and Safety Executive (HSE). Agriculture has the highest rate of fatal injury of all industry sectors. I
Dassault Systèmes tech in Renault electric vehical trials
Dassault Systèmes announced that the in-house LCI (Cooperative Innovation Laboratory) of Groupe Renault used the 3DEXPERIENCE platform to transform its innovation processes to the cloud and introduce Renault EZ-FLEX, an electric experimental vehicle aimed to understand the last-mile delivery of goods in smart cities. I
Louis Vuitton publishes collector's edition of Arles guidebook
To celebrate the 50th anniversary of the Arles Photography Festival, Louis Vuitton is publishing a collector’s edition of its Arles City Guide, paying tribute to the city, its people, and photography. Louis Vuitton is also hosting a pop-up bookstore during the festival at a wine bar, featuring special events and book signings. I 18 - info - summer 2019
NE WS & ANALYSI S – BUSINE S S WOR LD
ENGIE partners with EDP creating global offshore wind player
EDP and ENGIE announce the signing of a strategic Memorandum of Understanding, to create a co-controlled 50/50 joint-venture in fixed and floating offshore wind. The new entity will become a global top-5 player in the field, bringing together the industrial expertise and development capacity of both companies. I
Natixis supports sustainable finance loan
Natixis acted as mandated arranger, sole coordinator, bookrunner and sustainable development coordinator for a credit facility with twelve French and international top-tier banking partners. The initiative brings French and international banks together– led by Natixis – for this first syndicated loan signed by a pure player in renewables.
Sopra Steria wins UK Cloud Awards
BNP Paribas partners with Magic Leap and Mimesys BNP Paribas announced their adoption of new immersive
technologies by Magic Leap and Mimesys, including Augmented Reality, Virtual Reality or Mixed Reality. This innovation makes it possible to transform the interactions between people from different geographies, employees or customers, by reducing their environmental impact, and inventing a new customer journey as well as new working methods. I
EDF Renewables announces expansion in Edinburgh
EDF Renewables in the UK has opened an extension to its existing office in Edinburgh to accommodate 60 new jobs created on the Neart Na Gaoithe offshore wind farm project. The expansion comes as part of the company’s continued commitment and investment in Scotland. I
Matthieu Hue, CEO of EDF Renewables, and Derek Mackay, Cabinet Secretary for Finance, Economy and Fair Work
Sopra Steria, a European leader in digital transformation, today announced its success at the UK Cloud Awards, scooping Best Digital Transformation Project for Public Sector/Third Sector Project of the Year. The award was in recognition for Sopra Steria’s partnership with the UK’s financial regulator, the Financial Conduct Authority (FCA) to help it respond to new European MiFID II guidelines.
International SOS wins post conflict award
International SOS has been recognised by the International Stability Operations Association (ISOA) for contributions in promoting high standards of conduct across the commercial stability operations support sector; specifically for its work providing base support, capacity building, medical training, medical supply provision, Corporate Social Responsibility (CSR) initiatives, and other peacekeeping efforts in post-conflict environments. info
- summer 2019 - 19
Seven B2B companies complete PwC's Raise programme
PwC has completed its third Raise programme for scale-up businesses in collaboration with The Accelerator Network and White Horse Capital. The programme worked with seven revenue generating B2B businesses looking to secure and negotiate their first round of institutional funding and a series of expert-led masterclasses.
Crowe named best place to work
Colas Rail and Network Rail achieve a 97 percent diesel-free site
A project led by the Network Rail and Colas Rail UK has used solar lighting and power generation to prove the viability of a sustainable ‘Site of the Future’, achieving 97% diesel-free operation in support of a major rail renewal project at Llanwern, South Wales. I
Crowe, a public accounting, consulting and technology firm with offices around the world, was named one of Fortune’s 25 Best Workplaces in Consulting & Professional Services for the third consecutive year. The list is based on feedback from more than 339,000 survey respondents at Great Place to Workcertified companies.
Credit Suisse issues Green Certificates of Deposit
Credit Suisse today announces the successful inaugural issuance under its green finance framework, raising $200 million in proceeds in the form of green Yankee Certificates of Deposit (YCD). Given the growing interest from responsible and sustainability-driven investors in short-term money markets, Credit Suisse has issued green YCD in order to (re-) finance a portfolio of eligible green assets, while providing its investors with a debt instrument in the green finance space.
FTPA ranked amongst best private equity firms
FTPA has been named in the 2019 Decideurs ranking of the best law firms in France in Private Equity under the following categories: Development capital transactions, mid & small-cap LBO transactions, LBO tax, and Venture capital transactions.
20 - info - summer 2019
London Stock Exchange Group acquires Beyond Ratings
Beyond Ratings is a highly regarded provider of Environmental, Social and Governance (ESG) data for fixed income investors. The acquisition enhances the existing ESG index, data solutions and analytics offering within LSEG’s Information Services business. I
Irwin Mitchell launches Inclusive Leadership Programme
In a bid to ensure their future leaders are more diverse, national law firm Irwin Mitchell has launched an inclusive development programme for employees in partnership with business psychology experts Delta Alpha Psi and the Wolverhampton Business School, taking into account that more than one diverse characteristic will impact a candidate’s ability to progress into leadership roles. I
LVMH recognized for fight against counterfeiting On the occasion of
the 22nd World AntiCounterfeiting Day, the LVMH Group’s Market Protection department received an award for the best team (Business category) for its achievements in the fight against counterfeiting. I
NE WS & ANALYSI S – BUSINE S S WOR LD
JCDecaux participates in Viva Technology JCDecaux, the number one outdoor advertising company worldwide, is participating for the fourth year in Viva Technology, the global innovation and start-up event at the Parc des Expositions exhibition centre at Porte de Versailles in Paris. JCDecaux’s participation will focus on new urban experiences and outdoor advertising driving the development of start-ups. I
Thales awarded Geneva Airport ‘smart’ contract
Financial Times strengthens sustainable business coverage
Thales will provide Geneva Airport with a supervision
The Financial Times announces the launch of FT Moral
platform for its Airport Operation Center by 2020. With
Money, a new initiative that will explore the fast-growing
17.7 million passengers in 2018, and connections to 148
and international shift towards ethical, sustainable and
destinations operated by 57 airlines, Geneva Airport is taking
responsible investing. The ESG sector, where finance and
steps to modernise its operations by centralising supervision
business comply with environmental, social and governance
and improving situational awareness. I
goals, is growing at a record speed, worth $31tr according to the Global Sustainable Investment Alliance, 2018. I
Mazars acquires Hall Liddy
IQ-EQ staff named Top 35 Under 35
Mazars, the international tax, accountancy and advisory firm,
IQ-EQ is delighted to announce that Rhuaridh Watt and Ryan
has acquired Hall Liddy, the leading medical accounting firm
Crawford have been named in eprivateclient’s Channel Islands
in the North West. Hall Liddy will join Mazars’ established
‘Top 35 Under 35’ for 2019. This is the second year that both
specialist healthcare sector team to form one of the largest
young professionals have made the list, giving each a hundred
providers of tax services, accounting, and advice to GPs and
percent success rate since the ranking began. I
medical consultants in the UK. I
L'Occitane moves to sustainable plastic bottles The L’Occitane Group, a global manufacturer and retailer of natural cosmetics and well-being products with five leading brands, and Loop Industries, a leading technology innovator in sustainable plastic, announced today the signing of a multi-year supply agreement for Loop-branded 100 percent sustainable PET plastic. The agreement will enable L’Occitane to increase from its current use of 30 percent recycled plastic in its bottles to reach 100 percent by 2025. I
Saint-Gobain announces the winners of student architecture contest Saint-Gobain presented the awards for the international final of its 15th Multi Comfort Students Contest, following the competition held in Milan (Italy), chaired by Pierre-André Chalendar, Chairman and Chief Executive Officer of Saint-Gobain. More than 2,200 students from 199 universities entered the contest which mainly addresses those reading architecture and engineering. I
info
- summer 2019 - 21
BUSINE S S WOR LD – S TART- UP PROFILE
Teach on
Mars
Europe's premier mobile learning technology provider wants to put a ‘personal learning assistant’ in every smartphone user's pocket. INFO speaks with their UK General Manager Pierre Peigné
What does your company do? Teach on Mars is a software publisher in the learning-tech space, equipping organisations with a next-generation learning ecosystem. We are best known for having pioneered mobile learning tech in Europe. Since 2013, we have served more than 130 blue chip clients spanning all industry verticals, including L’Oreal, LVMH, Vinci, Allianz, BNP, Total,
At Teach on Mars, our value proposition is rooted in one simple belief: nextgeneration learning is not just about technology or content, it’s about learners and their lifestyles
objective of this round is to accelerate our international expansion to solidify our position as pan-European champion in next-gen learning tech, on the back of our current presence in France, UK, Italy, Belgium, Nordics, Netherlands, Morocco. Second, we are doubling down on our R&D investments to strengthen our technology and product leadership. Notably, we’re ramping
and Orange. Our solutions range from
systems, often first-generation tools.
up Artificial Intelligence capabilities to
sales force effectiveness, agile product
However, that segment is in the midst of
bolster our smart algorithms for the
training and point-of-need performance
a replacement cycle, creating significant
automatic construction of personalised
support, to new hire onboarding, digital
opportunities for next generation
and contextualised training paths at the
culture development or communication
providers. Our ongoing ambition is to
core of our personal learning assistant
around strategic initiatives.
create an entirely new market segment
vision.
Today, Teach on Mars is helping
around our ‘personal learning assistant’
roughly a million learners up-skill, re-
concept as a single entry-point to each
Tell us about your activities in
skill and cross-skill, in over sixty-four
user’s personalised learning universe.
respect of the UN Sustainable
countries and twenty-three languages.
We also expect adoption rates from
Development Goals?
We’re a team of sixty Martians across
SMEs to pick up in pace dramatically –
Pursuing a genuine social mission while
four offices – Paris, Sophia Antipolis,
so far a largely untapped market.
scaling our business is something we
London and Milan – and growing!
greatly care about. We set up a separate What are the advantages of mobile
organisation called ‘Teach on Earth’ with
What were the challenges of entering
learning versus traditional teaching?
a dedicated staff to equip Non-Profits
the learning tech market?
The most common misconception
with our technology, and collaborate
Among the many challenges in our
around mobile learning is to view it
to build a catalogue of educational
space is undoubtedly the intensity of
as intrinsically opposed to traditional
content to raise awareness on social
competition and the sheer number
teaching methods. The smartphone,
and environmental issues in line with
of providers, each trying to carve out
while being a powerful and versatile
the 17 Sustainable Development Goals
a niche. At Teach on Mars, our value
device, can sit at the centre of a
set out by the UN. Since 2019, Teach on
proposition is rooted in one simple
cross-channel ecosystem. It weaves
Mars has also become a participant in
belief: next-generation learning is not
together all other learning modalities,
the UN Global Compact. Our company
just about technology or content, it’s
whether digital, classroom, on-the-job
mantra reflects that conviction: ‘More
about learners and their lifestyles. This
support, or learning from peers. While
Learning Moments. Better Future.’ The
includes what they expect from their
some solutions in the market can be
best way to promote change is through
learning and their aspirations for their
superficial or gimmicky, if done well,
education. I
future. Technology then just becomes
mobile-led learning ought to fulfil a far
an enabler – as learners’ usage habits
superior promise.
evolve, so will we. What are the priorities for your Where in the market do you see the
business?
most growth potential?
We recently closed a €7m fundraising
Most large corporations are already
round to help us fuel our next phase of
equipped with learning management
growth in 2019 and beyond. The first
22 - info - summer 2019
• Number of users: 1M • Deployed in 64 countries • Languages: 23 • Latest funding round: €7M
SME NE WS – BUSINE S S WOR LD
JIN evolves into strong tech and strategic consulting agency
A
fter 6 years of continuous growth, the communications agency JIN (PR agency of the year in France, Holmes Report 2018), who specialise in digital influence and public relations, now has over 70 employees across Paris, London, Hamburg and New York, with the trust of over 100 clients. JIN is strengthening its consulting offer, asserting a new vision for the agency’s future. I
Drivy aquired by Getaround
Yooz uses AI to tackle invoice fraud
T
Y
he car-sharing start-up Drivy, which specialises in the rental of private vehicles, has been bought for USD 300m by
ooz, an international provider of intelligent P2P software in the Cloud, today announced the launch of YoozProtect,
its American competitor Getaround. ‘Drivy is a solid company
a new functionality to assist in the automatic detection of
whose teams, values and products join those of Getaround.
fraudulent and forged documents and enhance regulation
This suggests a natural integration for our employees and our
compliance for UK businesses. Several large-scale cases have
users,’ said Sam Zaid, Founder and CEO of Getaround. I
recently highlighted the fraud issue, costing businesses such as Google, Facebook, Dell and Microsoft millions of pounds in fake invoices. I
Verdier & Co. Corporate Advisory advises Neovacs on its €10m financing
V
erdier & Co. advised one of its long-standing clients, Neovacs S.A., the Euronext-listed French biotech in Phase IIb for Lupus. €10m were raised in this latest funding round in the form of a structured zero-coupon convertible bond programme of ORNANEs. Verdier & Co. provided support with the financial modelling and its stress-testing, crafting of the equity story, identifying and reaching out to prospective investors, structuring advice and negotiations. I
Smart Cookie Media launches documentary The Millennial Disruption
T
he Millennial Disruption is the product of extensive research on the impact of technology on consumer
behaviour and the changing business landscape by Somi Arian, Filmmaker, Entrepreneur, Founder of Smart Cookie Media and Co-Founder of Career Drive. The film was featured on BBC5 Live and has been nominated for six awards in international film festivals and so far won two. The film is available at smartcookiemedia.com. I
info
- summer 2019 - 23
BUSINE S S WOR LD – SME PROFILE
The start-up mindset Louis Carle and Etienne Portais founded Maddyness, a digital publication in France with the aim to feature news and insight for start-ups and entrepreneurs
What inspired the creation of a magazine dedicated to the
us in order to support entrepreneurs outside France and
start-up ecosystem?
immerse ourselves in a broader ecosystem in Europe.
Maddyness was born from the desire to help entrepreneurs succeed in their journey. We know how difficult it is to be an
Which trends within the industry are you most excited
entrepreneur and we decided to try our best to help them
about?
to change the world. To do so, we use our media to promote
We are passionate about a lot of sectors, but at the moment
their company, providing them with the advice of the best
we closely follow AI, renewable energies, and MedTech. These
French experts and creating links through our community to
are significant fields of innovation where we are positive that
help them grow their businesses. When we launched, there
the start-ups and their founder’s energy will have a great role
wasn’t any media dedicated to start-ups in France. Today, we
to play. The ‘Tech For Good’ movement is also a way to bring
are proud to gather more than 650,000 readers each month,
more ethics to our ecosystem – an approach with which we
and Maddyness has established itself as the leader in its field.
are aligned.
How would you describe the start-up market in France?
Does Brexit have an impact on French start-ups?
We’re seeing an undeniable boom since we launched and we
We have felt a cooling in the past few months, partly due
are proud to be part of this dynamic ecosystem. In 2018, more
to the questions Brexit raises, and to the fact that no one
than 10,000 start-ups were settled in France, representing
seems to be able to answer them yet. We are in uncertain
around 3.2bn Euros of investments. Those numbers don’t
times where trust is hard to find, even if it’s a vital element
reach the 7bn Euros invested in the UK, but figures are
to make plans in the long term. Luckily, some businesses are
progressing, beating the previous year’s record (2.3bn Euros in
successfully launching across the Channel. We will pay close
2017). The market is structuring and strengthening. It attracts
attention to every move British start-ups will make, as we are
increasingly more foreign investors, taking Emmanuel Macron
well aware that they will reflect the impact of Brexit on the
at his word about his ambition to transform France into a
European ecosystem. I
'Start-up Nation.' What are the plans for Maddyness in 2019?
• Launch: 2012
This year is important for Maddyness. We are launching two
• Readers per month: 650,000
new projects in audio visual and events with Maddyness Event and Maddyness Studio. We will also establish our media outside France. Our internationalisation is a crucial step for 24 - info - summer 2019
• Community: 66% between ages 30 and 45
SME NE WS – BUSINE S S WOR LD
Qwil Messenger selected for Fin-tech accelerator
Q
wil Messenger, the secure and compliant client chat platform, was selected by the Investment Association to join the second cohort of FinTech firms joining
Velocity, a six-month accelerator programme for and backed by the buy-side and asset management industry. Following a rigorous selection process, with more than fifty applicants, the advisory panel selected five leading FinTech firms due to their innovative solutions, which aim to increase business efficiency and enhance customer experience across an asset manager’s operations. The Investment Association's 250 members manage £7.7tr of assets and the asset management industry supports 100,000 jobs across the UK. I
Club@ Sopra Steria The European leader in digital transformation partnered with the French Chamber to deliver the first Club@ of 2019 for ambitious start-up businesses
A
t an event hosted in Sopra Steria’s
and Sopra Steria, provided demonstra-
the perfect summer cocktails with a
Holborn DigiLab, start-up founders
tions of their head-set technology.
selection of tonics matched with their
and entrepreneurs had the opportunity
The
evening
also
featured
a
to meet with the company’s innovations
presentation by Sopra Steria AI Ethics
team and to hear about Sopra Steria’s
Lead Ben Gilburt, who set out the
'on-boarding' process. James Aitman
company’s commitment to promoting
and Sanjeev Talwar, directors of the AI
the critical importance of ethics in AI –
and machine learning start-up JifJaff,
quoting from unlikely sources, such as
presented their story of partnering with
the American rapper Childish Gambino
the tech giant.
who sang that men make ‘machines
Their key piece of advice? Perseverance. Reflecting back on their expe-
who want what they decide,’ to highlight gender disparities in the AI field.
rience, Aitman and Talwar counselled
As leaders in ‘Tech for Good,’
assembled guests that signing deals
Sopra Steria has also been active in
with major players can be complex and
the growing movement of supplying
protracted. But the pay-offs are evident
cutting-edge tech solutions of the
for young start-ups looking for growth
public good, specifically in providing
opportunities and access to new client
digital expertise and specialist advice
networks.
to the Ben Kinsella Trust, the anti-knife
Holocare, a Norwegian VR solution
signature Theodore Pictish Gin. I
crime charity.
with telemedicine applications, estab-
The Chamber would like to thank
lished in March 2017 by The Interven-
Sopra Steria for their hospitality and
tion Centre at Oslo University Hospital
Greenwood
Distillers
for
suppling
info
- summer 2019 - 25
Brown Shipley wins WealthBriefing award
W
ealth managers Brown Shipley were awarded Best UK Private Bank – Credit Provider at the WealthBriefing European Awards 2019. This showcased the best providers in global private banking wealth management. The awards are designed to recognise companies, teams and individuals deemed to have ‘demonstrated innovation and excellence during 2018.’ I
French Morning London awards Best Baguette London 2019 to Maison Puget
Ponant takes delivery of new ship Le Bougainville
T
P
he Best Baguette Competition held its first edition in London. More than 300 bread lovers attended the French
brunch organised by French Morning London at the Huckster
onant successfully took delivery of Le Bougainville, the third vessel in its exceptional Ponant Explorers series, on
schedule. It is fitted with a multi-sensory underwater salon
in Paddington. Maison Puget won two awards, including the
allowing guests to discover and experience the underwater
Jury prize, and Paul Rhodes Bakery who won a prize from the
world. The ship left Sovik in Norway in April and is currently
public. The official jury included David Johnson, Start-up Lab
sailing to Spain to start her maiden cruise in Malaga. She was
Manager of the French Chamber. .I
officially inaugurated in June. I
High-growth entrepreneurs club Home Grown launches in London
H
ome Grown, the new club for high growth entrepreneurs, has launched. The club, backed by the Home House Collection, is dedicated to helping businesses grow, combining all the benefits of a members’ club with a carefully curated bespoke events programme and networking opportunities. Home Grown runs a number of events throughout the year. I
mycoocoon awarded for light solutions innovation
T
he wellbeing agency mycoocoon has received the Leading Innovators of Therapeutic Architectural Light Solutions - Europe award by Build Sustainable Building Awards. They worked with leading chromotherapists, aromatherapists and nutritionists, to create a holistic healing solution for the 21st Century. I
Greenwood Distillers launches new spirits portfolio
G
reenwood Distillers has announced the launch of a spirits portfolio from its home in Ardross in the Northern Highlands. Taking residence in a £18m new
distillery, Greenwood Distillers will launch seven products in the UK market in 2019, with the aim of expanding to export markets including France, Japan and the United States by 2020. Theodore Gin, the company’s first brand, launched in February 2019. I
26 - info - summer 2019
SME PROFILE – BUSINE S S WOR LD
Organic design Orchid Creation is a creative agency based in eight cities across the world, with fifty employees representing thriteen nationalities. INFO speaks with its UK Director, Tafika Ramiaramanana
Tell us a bit about how Orchid Creation works? Orchid works in its very own particular way. We are a group of roughly fifty individuals spread across more than eight locations. We have six offices and some of our colleagues work full-time from home. This means we are able to work around the clock, making us extremely flexible when working with tight deadlines. Around 70 percent of the team is creative and production staff. We’ve got creative directors leading incredible work delivered by our full suite design team, from 2D illustration to 3D design and motion graphics. The other 30 percent are business staff, mainly client management and recently a growing brand and communications strategy department. We all work in a very organic way. We are what is known as a flat organisation, with very little hierarchy and zero bureaucracy. Leaving all this behind allows us to be agile and
We are what is known as a flat organisation, with very little hierarchy and zero bureaucracy. Leaving all this behind allows us to be agile and to spend our time on what really matters
to spend our time on what really matters. How are companies changing in how they want to How do you manage a small yet global team?
communicate their brands?
Our aim has always been to create a truly global company
More and more brands understand the importance of
without losing the local perspective. Because of that, we rely
investing in branding and communications, and every time
on locals rather than expats when building our teams
they come to us, they know a bit more about what they are
around the world. Most of our clients prefer to work with a
after. Most want creative ideas that can make them stand out
global company that understands them at a local level, from
amongst the competition and attract their target audience. It
language to the social nuances that only someone born and
is our role to find those ideas and to make sure that they are
raised there would know.
also compliant with the brand’s existing visual language, tone
We cannot deny that the long distances and time differences between us can be a bit challenging at times.
of voice and positioning. We’ve also noticed that lately, social media, and Instagram
However, it also brings something extremely valuable which
in particular, have become a very powerful channel for brands
is great diversity, both in our core and applied to everything
to connect with their audience. We have seen an increase in
we do.
requests for social media campaigns, such as what we did for
In terms of how we keep track at a functional level, we
Benefit Cosmetics or Google Indie Games.
avoid big meetings whenever possible, and instead try to be always in touch via Slack. Together with Google Hangouts,
What did you learn from working with a tech giant like
these are our only internal communication tools. Emails are
Google?
only used with clients and suppliers.
Google taught us about the importance of being flexible and learning quickly in order to keep up with their requests. We
What led to your decision to expand to the UK? What are
started by beautifying their decks and quickly moved on to
your priorities in the market?
becoming their creative and strategic partner.
The UK is the door to the world and the HQ of business,
The other important thing we learned from working with
finance and tech in the region, so it was an obvious choice to
them is to believe in ourselves. It gave us a lot of confidence
open an office there. Our priorities are to first be known by
to see that such a giant company relied on us when seeking
our global clients like Google and Snapchat as a key partner in
creative advice. They trusted us and empowered us to push
EMEA, and to be inspired by the eclecticism and creativity of
boundaries and surprise them on each project we do
the city.
with them. I
info
- summer 2019 - 27
E DUC ATION – NE WS
Democracy in action for EIFA International School London On 19 June, students from EIFA visited the French National Assembly as the guests of the French Minister of Education, Jean-Michel Blanquer, and the Assembly President, Richard Ferrand. The students had taken part in a competition to put forward a law relating to internet safety and their proposal was selected as one of the four finalists, out of 896 entries. During their visit to the National Assembly, the children attended debates featuring senior members of the government including the French Prime Minister, Edouard Philippe. I
HEC Paris and partners explore the future of space economy
Toulouse Business School (TBS) has AACSB accreditation renewed
ArianeGroup, an Airbus–Safran joint venture, joined a
TBS has achieved the renewal of AACSB (Association to
collaborative platform set up by the European Space Agency
Advance Collegiate Schools of Business) accreditation for
(ESA) and leading business school, HEC Paris, with the aim to
the next 5 years, for the 4th time in a row. The American
explore scenarios for the future of the space economy over
institution assesses business schools according to the
the next three decades and to anticipate new solutions for
highest international quality standards. I
space transport vehicles. I
NEOMA Business School opens its campuses to art NEOMA Business School will host two art exhibitions organised in association with the school's students. In Reims, several contemporary and singular works combining a diversity of materials by the sculptor Mauro Corda will be exhibited. The Rouen campus will be decorated by a range of charicatures in India ink by the street artist Charles Leval, who is better known as Levalet. I
Grenoble Ecole de Management students benefit from experiential learning Grenoble Ecole de Management MSc in Fashion Design & Luxury Management students travelled to Milan this year on a residency study. The students chose to analyse the Italian luxury food industry with a focus on sustainability. As part of their research they investigated the Milan initiative Too Good to Go, as well as other projects launched by Michelin-starred chef Massimo Bottura. I
EDHEC organises the first business school hackathon True to its innovative mindset, EDHEC Business School organised the first business school hackathon at VivaTech, the major innovation and start-up event held at Paris-Porte de Versailles in May. More than 60 participants competed in a challenge focused on helping youngsters make their first career choices. I
28 - info - summer 2019
R E PORT S & R E SE ARCH – BUSINE S S WOR LD
A selection of research papers and reports produced by Chamber member companies and partners
Deloitte: Global Powers of Luxury Goods 2019 Global Powers of Luxury Goods 2019 provides a detailed outlook of the Luxury sector, examining the 100 largest luxury goods companies worldwide. The report notes that despite the economic slowdown in various parts of the world, the luxury sector remains positive and keeps its strong performance. Amongst the key trends emerging, the clothing and footwear companies were dominant in the market, representing the highest number of companies. The report also shows that the cosmetics and fragrances market has witnessed the biggest luxury sales growth. Global Powers of Luxury Goods - 2019 Available at: https://bit.ly/2xc2Adg
House of Commons: Fixing Fashion: clothing consumption and sustainability The report issued by the Environmental Audit Committee of the House of Commons denunciates the bad practices of the fashion industry (fast fashion, labour, environmental impact…) The economic model is still too focused on cost reduction and profit maximisation at the expense of social and environmental preoccupations. The Committee recognises that ‘Fashion shouldn’t cost the earth.’ A new economic model is needed to drive a more sustainable future for this sector. Exciting and innovative sustainable initiatives already exist, and recommendations by the House of Commons to the Government are advancing towards this goal. Fixing Fashion - February 2019 Available at: https://bit.ly/2T2a8vI
Boston Consulting Group (with Sustainable Apparel Coalition and Global Fashion Agenda): Pulse of the Fashion Industry The key finding of the 2019 Pulse Score is that the Fashion industry has again improved its social and environmental performance in the past year, but at a slower rate than the previous years. Despite the improvements made, the report highlights that the fashion industry is far from sustainable. There is hope, as the environmental, ethical and social challenges are not only threats but also value creation opportunities. However, industry actors have to move faster and implement changes quicker if they want to achieve United Nations Sustainable Development Goals and meet Paris Agreement targets. Pulse of the Fashion Industry - May 2019 Available at: https://bit.ly/2ZipTOq
info
- summer 2019 - 29
30 - info - summer 2019
O
n 13 June 2019, the French Chamber of Great Britain held the London Luxury Think Tank at Spring Studios, organised
in partnership with Walpole and the United Nations Office for Partnerships. It marked the second edition of the event, which was established in 2017 as a platform for high-level engagement on topical issues between leaders, pioneers and disruptors from across the luxury sector. This year, the theme of sustainability was at the core of the event, with the question ‘What makes luxury sustainable’ driving an agenda of talks, discussions and debates about the challenges and successes of an industry in transition. We were especially honoured to welcome the United Nations Office for Partnerships as official partner to help promote the Sustainable Development Goals (SDGs) and consider their application across the industry. As you will read in this twenty-page FOCUS section, which includes reports from the event and new insight from Chamber partners and members, luxury brands are increasingly adopting sustainable business practices, while others are embarking on creative projects to connect with ethically-minded consumers. To focus on specific trends, articles and interviews will also explore the sub-themes of reuse and recycling, sustainable production, and marketing and communication strategies, among many others. Together with thought leadership from industry leaders, and new ideas from innovative start-ups, we hope that this issue will be a useful addendum to the event, and above all stimulating for you and your business. I
info
- summer 2019 - 31
Photography by Joana Saramago
LONDON LUXURY THINK TANK
13 June 2019
Spring Studios
Panels, speakers and pictures on: www.LondonLuxuryThinkTank.co.uk Co-organiser
Main sponsor
Supporting sponsor
Host partner
Media partners
info
- summer 2019 - 33
The new SUSTAINABLE CONSUMERS Recent research by PwC, official sponsor of the London Luxury Think Tank, reveals the scale of the problem facing the luxury sector in its sustainable transition. Customer and Retail Analytics Director Megan Higgins and UK Retail Lead Sue Rissbrook provide context and insight
T
he electrification of luxury vehicles, the sustainable
items of clothing made each year will be disposed. Strikingly,
sourcing of precious materials and the move to
the amount of clothing bought has doubled in the last fifteen
renewable energy sources are just some of the challenges
years, while the number of times an item is worn has declined
underway in a luxury industry grappling with its transition to more sustainable supply chains and business models. The scale of the problem is coming into ever greater focus,
by 20 percent.
NEW TRENDS
with recent PwC research showing that the fashion industry
At the same time, the industry has signalled its intent to
alone contributes ten percent of global greenhouse gas
change, with a focus on sustainable and cruelty-free materials,
emissions, more than those emitted by all international flights
low emissions, ethics and transparency among other areas of
and maritime shipping combined.
activity, showing that sustainability has grown beyond a level of
It takes 2,700 litres of water to produce the cotton needed to make a single t-shirt, equivalent to 10,800 glasses of water, and up to 95 percent of the textiles that are landfilled each year could be recycled, but are not.
mere awareness, becoming a genuine strategic factor for the development of brands. PwC research demonstrates a rise in an influential cohort of consumers focused on sustainability, with nearly half of
On the consumer side, 38 percent of millennial shoppers
consumers saying they would change their habits to reduce
have bought half of the clothes they own within the past year
their impact on the environment. Forty-eight percent of
– with estimates showing that 40 percent of the 100 billion
millennials say they have chosen, or stopped using, a product
34 - info - summer 2019
THE SUS TAINABLE E VOLUTION OF LUXURY – FOCUS
PwC research demonstrates a rise in an influential cohort of consumers focused on sustainability, with nearly half of consumers saying they would change their habits to reduce their impact on the environment because of the environmental reputation of its manufacturer.
percent), London (54 percent) and Tokyo (49 percent).
This has not gone unnoticed in the industry, where there
There are also ethical expectations of companies, and
has been an 83 percent increase in editorial mentions of the
within companies from their staff. Ninety percent of Generation
term ‘sustainable fashion brands’ from 2017 to 2018.
Z consumers feel that companies have a responsibility to
Amongst the consumer cohort, higher income earners
address environmental and social issues.
and 18-24-year-olds are the most supportive of sustainable
Employees and consumers alike want to engage with
fashion. Nearly 70 percent of these consumers are willing to
businesses that align themselves with social values, such as
pay a premium for a sustainable product.
sustainability and local production. Millennials, in particular
A regional analysis shows that this trend is highest in
are consciously making purchases around sustainable and
Shanghai, where 90 percent of the demographic espoused
environmentally packaged brands and products. I
these values, followed by Hong Kong (71 percent), New York (55
source: LLTT presentation by Megan Higgins
SUSTAINABLE RETAIL PwC insights show that the consumer is becoming more ethical and informed on the high street and online. ‘We might call it the Blue Planet effect,’ says Sue Rissbrook, Retail Lead, PwC. ‘People are changing their shopping habits. There is also a strong focus on plastic.’ Another effect has been a decrease in shopping habits more broadly, where some shoppers want more personalisation and are buying statement pieces, rather than in bulk. According to Rissbrook, the luxury industry in this context has an important role to play, trialling
and offering innovative solutions such as re-sale of stock, and the use of sustainable fabrics. ‘There is an important education piece to these changes, as the consumer needs to fundamentally understand the difference between cotton and other fabrics, including what is now being called sustainable cotton.’ Rissbrook points to the Stella McCartney brand as a best-in-class example of sustainable innovation and leadership in the sector. There is also an important focus on how companies and brands report their sustainability initiatives and results. PwC
analysis of reporting in FTSE 250 companies found that there was significant room for improvement in impact reporting, with only 22 percent of companies clearly showing the link between their impact and their purpose in their reporting. With attention being paid to initiatives across a range of impacts, including supply chain, energy consumption and water consumption, the ability for companies to tell the story behind their targets, facts and figures, will be crucial for business in the years ahead. I
info
- summer 2019 - 35
Redefining LUXURY RETAIL Matter of Form, the international design and technology firm, provides a snapshot of a luxury industry in transition and explores the rise in conscious consumerism
S
ustainability once hovered like a buzzword on the
goods market in 2025.
fringes of fashion’s collective consciousness. A passing
Global fashion search engine, Lyst, reported a forty-seven
micro-trend, perhaps, briefly illuminated in the fashion
percent increase in searches for ‘vegan leather’ and ‘organic
press, only to be cast aside for next season’s collection when
cotton’ in their latest report, which analyses data from 80 million
no longer in vogue.
shoppers, 100 million searches, five million products and 120
Fashion as a whole has, historically, not been lauded for its
countries. The company predicts that in 2020, ten percent of
ethical practices. But that is a simplistic view of the industry.
all fashion purchases on Lyst will be made with sustainability
Fashion history provides a fascinating reflection of the state of
in mind.
the world and its cultural issues in every era. And as social and
The top-selling sustainable product? Stella McCartney’s
environmental causes fast become the defining issues of our
collaboration with Adidas, the first ever vegetarian Stan Smith
time, the runway reacts accordingly.
trainer. Stella McCartney has led the way in sustainability for
Maria Grazia Chiuri, the first female creative director at Dior, house
has
transformed
from
feminine
the to
some time, founding her eponymous brand on cruelty-free methods and
feminist with unapologetically
of
outspoken
alternative
slogans
and
of
production
pioneering new
the
use
technology
and
materials
to
knowing references. At Chanel,
limit environmental impact.
brides wear the trousers (down
In December at COP24 in
the catwalk): a not-so-subtle
Poland, she announced the
metaphor for the societal shift
UN Fashion Industry Charter
inspired by the rise of feminism
for Climate Action, in a bid to
and movements like #metoo.
address the urgent measures
And now, we are seeing a
needed
definitive shift in attitudes to
change.
sustainability: this is no passing trend. It’s a cultural movement.
to
limit
climate
It is a given that a luxury brand should fulfil expectations of
LUXURY BRANDS ARE LISTENING
quality, exclusivity, craftsmanship, and customer experience.
No longer can retailers solely rely on the weight of heritage or
But now they need to take an active stance on social and
even traditional craftsmanship for brand equity. A brand’s stance
environmental issues in order to meet the demands of
on issues can affect desirability, too. This is a fundamentally
increasingly purpose-driven consumers.
new relationship between company and consumer – purchase
The fashion industry is one of the most environmentally damaging industries globally. This does not sit well with today’s conscious consumer.
SUPPLY AND DEMAND Has this demand for sustainability affected the demand for
is premised on a brand’s willingness to live by its values, operate with purpose, and if necessary, make the leap into activism. In 2018, Burberry, Versace, Chanel and Maison Margiela all banned fur from their collections. In September, The British Fashion Council announced that London Fashion Week would be completely fur-free for the first time.
luxury? Bain & Company research indicates five percent real-
Fashion conglomerates LVMH and Kering have adopted
term growth in 2018. While retail luxury outlets are downsizing,
newly formed sustainability strategies while L’Oreal has its
the accessible luxury market is growing, particularly in China,
ambitious ‘zero deforestation’ policy in its supply chain.
which is expected to account for forty-six percent of the luxury
It’s not just limited to fashion: the luxury hospitality market
Nine in ten Generation Z consumers believe companies have a responsibility to address environmental and social issues 36 - info - summer 2019
© Stella McCartney - World of Sustainability
THE SUS TAINABLE E VOLUTION OF LUXURY – FOCUS
In a digital world, consumers can easily track the supply chain of goods and independently determine the validity of eco-conscious claims is thinking green, too. Hotels such as Six Senses and 1 Hotels
Though the heralding of sustainability or environmentalism
now consider everything from an environmentally conscious
is somewhat less political, brands are now subject to very
point of view, from the building materials of the hotel itself right
public, intrusive analysis. In the digital, fast-globalising world
down to the ingredients in the toiletries and menus.
we inhabit, consumers can very easily track the supply chain of
Part of this new era of authenticity has been a reformation of business culture that starts from within. 1 Hotels, for example,
particular goods and independently determine – and expose – the validity of an ‘eco-conscious brand.’
offers staff paid time off to volunteer in environmental advocacy
‘In the past, what we’ve seen is a lot of sustainable
and public education activities. Meaningful internal brand
campaigns that were quite surface level,’ says Future
culture has become an essential validation tool with regard to
Laboratory’s Foresight Editor Ruth Marshall-Johnson. ‘There
external brand messaging. Raconteur highlighted how sixty-six
was a lot of lip service being paid to this idea. Sometimes it
percent of customers said great culture attracts them to buy
didn’t go far enough and it certainly hadn’t been built into
from certain brands over others, beyond price and quality.
the lifecycle of a product. What we’re starting to see is more
Businesses are therefore looking internally to seek mutually reinforced visions of purpose and culture – something we at
companies looking at ensuring the whole process of making a product and getting it to the consumer is sustainable.’
Matter Of Form are particularly passionate about. Employees
The digital world we now inhabit has made us into a more
are unified and inspired by a common sense of purpose and
cause-oriented community than ever before. Brands are now
identity. Less a standardised 9-5 working life, brands offer a
forced to be accountable and transparent, which presents
lifestyle to both employees and customers – a reflection of the
the opportunity to have more meaningful and constructive
convergence of the way we live and work.
relationships with their customers. In turn, consumers demand
A BALANCING ACT
a collective sense of purpose, beyond mere profit margins. As climate change reaches crisis point and government
It is worth remembering that socially-conscious branding is
action is negligible, consumers are taking matters into their
a fine line to tread: one that risks exploiting social issues for
own hands. In such a crowded marketplace, it’s the brands
corporate benefit and blatant hypocrisy. In today’s highly
that lead with integrity, consistently innovate, and best
contentious political climate, brands must be authentic. Pepsi
communicate their ethical and environmentally-conscious
learned the hard way following their disastrous attempt to
values to audiences that will shape conversation and cement
piggyback the Black Lives Matter movement in 2017.
customer loyalty. I
info
- summer 2019 - 37
A positive MESSAGE for positive FASHION The British Fashion Council’s ‘Positive Fashion’ initiative encourages a sustainable stance in the sector
T
he UK government announced an update on the Climate Change Act the day before the London Luxury Think Tank (LLTT), with the aim to cut greenhouse gases to
zero by 2050. The LLTT’s final key note speech by Caroline Rush, CEO of the British Fashion Council (BFC), reflects on the enormity of
this climate change emergency and the need for all levels to prove their involvement in the world of fashion.
THE IMPACT OF FASHION Rush highlights that the fashion and textile industry has the unenviable title of being the second largest polluting industry. To improve, Rush says that ‘sustainability cannot be on the periphery. It has to be embedded in business thinking, from product development right the way to the consumer.’ Rush says that there is a strong impetus to act amongst British brands. In the past three years, the failure rates of businesses have declined and the Council has seen more of those businesses grow in a sustainable way. However, larger companies are faced with the challenge of not knowing where to start, says Rush. To offset this obstacle, the BFC brings together stakeholders across the sector, through its ‘Positive Fashion’ initiative. From education to the global luxury brands themselves and business advisors, all aim to share knowledge, especially with younger businesses. ‘This is the opportunity to corral the industry to come together to have a collective voice,
Sustainability […] has to be embedded in business thinking, from product development right the way to the consumer
to share that knowledge, to put aside competitive differences and to make sure that we’re all moving in the right direction to
themselves, designers need to have better access to
make a change,’ says Rush.
sustainable materials, to counter the depletion of natural
The Positive Fashion programme encompasses three main
resources in the world. At the other end of the process,
pillars: people, focusing on diversity, inclusion, and access;
wastage needs to be minimised, from packaging and hangers,
craftsmanship and community; and sustainability and ethics.
to overstock and unsaleable returns.
Rush emphasises the latter. ‘We need to hit that net carbon
AI and data analysis can help us to monitor the supply
neutral target, set by the government, to then create long-term
chain and to manufacture smartly. According to Rush, new
value for the businesses,’ she says.
businesses are already aiming to be sustainable from the
CHANGING PRACTICES
start. For bigger businesses, she says it is harder to get the transparency in the supply chain, but all companies have to
Sustainability can be influenced by many factors. Energy usage
start somewhere.
is one. ‘For the last couple of years, we’ve been building a
Rush says that all businesses should aim to define their
campaign with Vivienne Westwood around looking to switch
brand purpose with sustainability and positive fashion in
to green energy,’ says Rush. ‘Think about your energy usage.
mind. ‘This needs to be embedded into the business, it needs
Encourage your suppliers and partners to do the same.’
to be authentic, it needs to be measurable and it needs to
The supply chain features heavily in her narrative. The
be something that you’re willing to stand behind for the long
luxury industry is global and growing. When transporting
term,’ she says. A positive message on which to close the
goods and people, efficiency is crucial. Similarly, for materials
Think Tank. I SL
38 - info - summer 2019
THE SUS TAINABLE E VOLUTION OF LUXURY – FOCUS
Slow FASHION INFO speaks with model and fashion influencer Doina Ciobanu about the demand for fast fashion and how the industry should act more sustainably How are approaches to education changing? This is amongst the trickiest of questions. Like any global business-to-consumer industry, it works in a circular manner where its sustainability, or lack of it, starts at sourcing and production, and ends with the consumer, who has the responsibility to consume responsibly. Supply and demand rests in our hands. But as long as we expect fast, cheap and disposable products, the fashion industry is going to cater to that demand. The problem is that more than 99 percent of people globally are purchasing mass-produced goods from fast-fashion retailers. It would be exciting to see fast-fashion retailers improve their supply chain and production. They will always have a far bigger impact on the environment than all the small manufacturers or luxury fashion houses combined. What brands do you think are setting the best example in the industry? In the past few years I have seen the bright side of fashion and it’s been such a beautiful and hopeful experience. Companies like Bottle Top are giving us a completely new angle of fashion accessories by using bottle tops in a very Paco Rabanne kind of way. The AYA label are making swimwear out of recycled fishing nets. Isko, a Turkish denim supplier, are pushing for new technologies in denim production by reducing water and harmful substance usage. What is the role for influencers like yourself? I look at today’s new era of online voices as a phenomenal
The future of sustainable fashion should be exclusive, but not based on wealth and archaic social hierarchies, rather it should be based on production quantity. Haute couture should serve as the production and sales model for slower fashion
moment in history, democracy and freedom of speech. However, I think that the voice that you have is empowered by people – whether you’re an actor, singer, politician or fashion
for slower fashion. Having said that, the presence of ‘stock
influencer – and it comes with enormous responsibility.
destruction’ still horrifies me and I can’t believe governments
When widespread global communities are looking at you
haven’t imposed penalties. I truly hope that can change soon.
for inspiration, you simply cannot miss the opportunity to bring awareness to social and political issues. Maybe I’m just a
You have been a vocal advocate to reduce plastic usage.
desperate idealist, but I strongly believe that we can do so much
What role can the fashion industry play in this transition?
good if we use our influence for good.
A massive one. The fashion industry, along with music, entertainment and sports, have a massive audience on social
Haute couture is traditionally associated with exclusivity,
media and in the press. Having this extra exposure really gives
and brands often destroy stock to maintain their scarcity –
a phenomenal platform to speak about important issues and
are these practices at odds with a sustainable future?
spread awareness, either as a company or as a public individual.
Haute couture by its nature is not unsustainable, because it
That’s why I am always eager to encourage my friends and
is bespoke and usually has a very ethical work force behind
acquaintances to discover the world, self-educate and stand
it. On whether scarcity and exclusivity are incompatible with
for something publicly. It doesn’t have to be plastic reduction
sustainability, absolutely not. The future of sustainable fashion
specifically, it can be ocean pollution, renewable energy, or
should be exclusive, but not based on wealth and archaic social
consumerism. If you’re not also using your platform for good,
hierarchies, rather it should be based on production quantity.
you’re just letting it go to waste, and we simply cannot afford
Haute couture should serve as the production and sales model
that with the environmental crisis we are facing. I
info
- summer 2019 - 39
A role for LUXURY in the SUSTAINABLE future The UN Sustainable Development Goals provide a blueprint for luxury brands to engage on a global scale, says Robert Skinner, Executive Director of the United Nations Office for Partnerships
T
he seventeen Sustainable Development Goals (SDGs) set
customers, especially younger customers and clients, in addition
by the United Nations in its 2015 call for emergency action
wanting to do the right thing.
on climate change and an end to world poverty and hunger
His work can be complicated by the soft touch required
by 2030, among other ambitious targets aimed at reducing global
to get some brands and companies onboard. ‘We don’t try
inequalities and creating a more sustainable future for all.
to be disruptive or directive,’ says Skinner, recognising that
Having been adopted by 193 member states of the UN, the private sector now has a key role to play in this transition, and
organisations are going to be responsive to what their consumers and clients are looking for.’
the luxury industry in particular has both a need to transform its
Skinner opens the conversation with CEOs and CMOs across
business practices and the ability to reach out to others through
sectors with the same pitch. He presents them with the menu
its traditional soft power and ability to shape trends.
of the seventeen SDGs, which for example include affordable
‘We know that the luxury industry is leading tastemakers and
and clean energy, clean water, and access to work and economic
influencers,’ says Robert Skinner, Executive Director of the UN’s
development, to gauge where in the business (and with whom)
Office for Partnerships and the point-man for the adoption of the
they might achieve buy-in and change.
SDGs in business and industry. ‘If we can get the industry or a
‘We start from that point and. depending on how they
significant portion of the industry to take up the goals and the
respond. our Office for Partnerships is able to link them up with
framework to drive other businesses, then we feel that we are
the right part of the UN and the right part of governments or
reaching a pretty broad population.’
regions,’ says Skinner. He notes that businesses he speaks with
This means raising awareness, first and foremost. And with
often have geographic priorities, whether they are trying to open
the five-year mark next year, Skinner feels that progress has been
in new markets or trying to improve their practices or image in
made, but change and adoption needs to accelerate if the goals
specific regional contexts.
are going to be met.
GREEN SHOOTS Skinner’s office is regularly contacted by companies expressing an interest in the SDGs, driven principally by a demand from their 40 - info - summer 2019
‘We are always happy when we can drive resources, but we are also looking for more companies to bring their expertise, their interest, and their awareness-raising around the goals, in addition to potentially giving resources to support these programmes.’
THE SUS TAINABLE E VOLUTION OF LUXURY – FOCUS
We are looking for more companies to bring their expertise, interest, and awareness-raising around the goals, in addition to potentially giving resources to support these programmes
BUSINESS ETHICS
thirteen: ‘Climate Action.’)
Skinner says that the ‘true key’ of the goals is to reduce inequalities.
‘That’s the beauty of the goals,’ says Skinner. ‘They are all
At its core, the SDGs are an ethical paradigm which includes, in the
connected.’ He notes that it is about the circular economy and
context of the luxury sector, sustainable production and energy
making sure that we are managing the waste from industries,
consumption, and crucially also employment practices such as
which have an impact on many of the SDGs.
the treatment of employees, gender equality, health of workers, working conditions and labour standards.
CONNECT AND COLLABORATE
In an industry which has traditionally been a poor performer
Skinner’s office is working with partners across the fashion
in terms of sustainability, there has been a dissonance between
industry, including a number of companies actively working in the
ideas of suitability and inherent characteristics of luxury goods
area of sustainable fashion, where collaboration has been key to
such as scarcity, exclusivity, high cost, and impact on communities
success.
in terms of resources and labour standards.
He points to the recently launched Fashion Industry Charter
But this too is changing. Skinner notes improvements
for Climate Change, which has a target of 30 percent reduction
underway in the fashion industry, where SDG number twelve,
in emissions by 2030 and the end goal of achieving net-zero
‘Responsible Consumption,’ reflects a conversation about reuse,
emissions by 2050. A growing number of signatories include
recycling and reuse, and challenges brands to manage their stock
Nike, Adidas and the Kering Group. ‘We are seeing that a lot of
and production in a responsible way. Packaging and the use of
those companies are saying: We have to work with other actors
plastics is also an important area to address in the industry’s
of the industry,’ says Skinner. ‘Companies that are leading on
practices, as too much plastic is destroying life underwater and
sustainability say that they are going to bring the rest of the
on land and contributing to climate change. (That’s SDG number
industry along with them.’ I
info
- summer 2019 - 41
The age of RESALE James Harford-Tyrer, Founder of Cudoni, a digital platform for selling pre-owned luxury goods, explains the bourgeoning trends in second-hand sales
W
e live in an age where concern for the Earth’s health has never been
greater; with an ever-larger number of people relying on an ever-decreasing number of resources. It’s against this backdrop, then, that we see a new age
Gone are the days where one could (and should) purchase an item, only to discard it a few months later, without a second thought
of luxury goods emerging – an age of
Cudoni team place the customer at the core of everything we do. The success of the Cudoni service stems from this philosophy of putting the customer first in every step of the journey. We have recognised that our clients don’t want the hassle of resale, so we’ve designed a process to make
resale. Gone are the days where one
selling your unwanted luxury goods
could (and should) purchase an item,
accuracy. After all, a successful start-
easier than ever before, and through
only to discard it a few months later,
up can’t simply live in the present, as
our concierge system we do all the work
without a second thought.
an agent of change, it has to be able
for you, while you sit back and relax.
to measure consumer behaviour five,
No photography, no listing, no guessing
these shifts in the consumer zeitgeist
ten and twenty years into the future.
value, no negotiations, no packaging,
when I was a twelve-year-old boy,
Whilst my team are concerned with the
no shipments, and importantly, nothing
selling others’ unwanted goods from
present, it is my role to ensure that our
at all to worry about. On the other
my parent’s garage. Back then, the
vision for the future is clear.
side of the equation, it means we can
Admittedly, I had little foresight of
opportunity was purely to assist busy
This isn’t to suggest that our path
guarantee to our buyers that they’ll
people in selling their unwanted
has always been obvious, and, as
receive the fastest dispatch and delivery,
possessions for the purposes of
everyone in the industry knows, the
highest quality, and most importantly,
decluttering and financial return. It was
world of luxury goods presents its own
our seal of approval on authenticity.
only really when I left my previous role
interesting and unusual challenges. We
in finance that it became abundantly
treat each item that passes through
sector to operate and scale in as
clear that, beyond recovering space and
our hands, whether it be an Hermès
a business, but we take immense
monetary value from luxury products,
Birkin bag, or a Patek Philippe watch,
pleasure in pioneering a more circular
resale and reuse served an even greater
with the same reverence of its former
economy. By reusing these items, we
purpose in preserving our planet’s
owner, and the same excitement of
keep those old memories alive, and
future.
its future one as well. This is the single
allow new ones to flourish. It brings
greatest challenge presented by the
each one of us together through the
companies announce their interest in
world of luxury goods. These are often
strands of our collective stories. It
this space with almost daily regularity,
lifelong objects of emotion and desire;
is undeniable that reutilisation is a
I’m pleased that we were able to
unique vessels of our memories and
fantastic thing for our planet, and
assess the future landscape with such
our passions, and are exactly why the
our future. I
Looking back now, as new
Illustrations: www.cudoni.com
42 - info - summer 2019
Resale is undeniably a challenging
THE SUS TAINABLE E VOLUTION OF LUXURY – FOCUS
How to build a SUSTAINABLE BRAND Elvis & Kresse have been rescuing raw materials and transforming them into luxury lifestyle accessories since 2005. Here their co-founder Kresse Wesling provides a blueprint for sustainable businesses
SOLVE AN ACTUAL, CRISIS- LEVEL PROBLEM Most entrepreneurs consider themselves to be problem solvers. They roll-out ideas that make life easier, more entertaining, healthier, or safer. But this is 2019, you can’t avoid the climate crisis, the biodiversity crisis, or global social inequalities. If you are building a sustainable brand, you absolutely must be engaged with the big problems and if you need inspiration, the UN Sustainable Development Goals (SDGs) are a good place to start. We didn’t set Elvis & Kresse up to create a luxury goods brand, our sole reason for starting the business was to rescue London’s damaged, decommissioned fire-hoses and keep them from languishing in landfill. For reference, by mounting this rescue and working in an ethical and sustainable manner we are tackling the following SDGs: Decent Work and Economic Growth (number 8), Industry, Innovation and Infrastructure (9), and Responsible Consumption and Production (12).
FOCUS ON MULTIPLE POSITIVE OBJECTIVES You also have to remember that you can’t solve a big problem sustainably if your solution causes other problems. It isn’t enough to just rescue and reuse material (like we do with fire hoses), we are a certified Social Enterprise and a founding UK B Corp. We are a living wage employer, we use renewable energy, we make all our own packaging from reclaimed materials, we offer apprenticeships, we donate 50 percent of our profits to charity. I serve on the board of Keep Britain Tidy (an amazing waste-related charity), and we only take business decisions if we
We only take business decisions if we think the outcome will make the world better for other people’s grandchildren, and we never feel like we are done
think the outcome will make the world better for other people’s grandchildren, and we never feel like we are done. This is a
a team, their activities and the goods or services they provide.
journey. We can always do more and be better.
There are a lot of companies whose brand or identity is more
LOVE YOUR PROBLEM
sustainable than their actual work. This kind of disconnect is essentially a lie. Don’t do that.
Be an expert at your problem and be totally committed to
We rescue materials, transform them into beautiful products
it. Remember that the solution might change over time. By
and donate half of our profits to charity. The authenticity of our
remaining wedded to fire-hoses we never fail to have an
brand is that we deliver, every day, on these promises. We don’t
impact. By being experts in our waste materials, we can adapt
need a marketing strategy; the truth is interesting enough.
our business over time while continuing to solve our chosen problems and deliver real change.
BE GENUINE Remember that a brand is meant to stand for something, so
Last year our donations created three scholarships for female solar engineers at Barefoot College. Through the design, manufacture and sale of accessories, we transformed around 3000kg of leather that would otherwise go to landfill into three scholarships.
stand for something and then deliver. A brand isn’t a stunning
When the choice is between creating three tonnes of waste
logo or a catchy strapline. It is the recognisable manifestation of
or creating scholarships, we all know which is the right choice. I
info
- summer 2019 - 43
The COLOUR connection INFO speaks with ValĂŠrie Corcias, CEO and Co-Founder of the health and design agency mycoocoon, who set up a relaxation area and led meditation sessions at the London Luxury Think Tank
A twenty-minute power nap in our Coocoon Pods is equivalent to two hours of sleep
Describe the concept behind your
emotional, psychological and spiritual
employees and clients. Investing in
wellbeing space at the LLTT.
level. With mycoocoon, we are recreating
mental, physical and emotional health
Our mission is to make a real difference
the effects that you get when you are
will help create a happier, healthier
by
connected with nature.
workforce.
being
'Human
to
Human,'
as
Our
vision
is
that
all
in the hastag #H2H. Through our
The colour light immersions are
workplaces and hospitality sectors will
colour consultancy, we aim to reduce
designed for specific needs: jet lag,
provide the mycoocoon solution for their
substantially
seasonal
employees or clients.
stress,
levels
increase
of
their
employees’
disease,
stress,
balance.
productivity,
We install colour light cabins to allow
enhance team building, and reinforce
people to rest and we also design multi-
Tell us a bit about your experience at
connection between the company and
sensorial workshops and journeys to
the LLTT
its employees. A twenty-minute power
generate links through colour for clients.
The attendees enjoyed their spectrum
nap in our Coocoon Pods is equivalent to two hours of sleep.
meditation at the beginning of the What is your advice to employers in
conference, as well as the proposition
terms of their workspaces?
to have a moment of relaxation during
How does immersive colour help us
We encourage more and more large
the day in the bespoke area we set up.
relax and unwind?
companies to invest in the well-being
Our goal was for them to feel the power
It brings wellness to people with an
and mental health of their employees.
of colour. I
active lifestyle thanks to the energy that
Companies have to allow for budgets
colour transmits. It heals you on an
to set up well-being spaces for their
44 - info - summer 2019
THE SUS TAINABLE E VOLUTION OF LUXURY – FOCUS
RETHINKING aftercare Prolonging the life of our wardrobes can have an immediate impact on the environmental cost of the fashion industry. Mathilde Blanc, co-founder of the eco-dry cleaners Blanc, speaks with Marie Koziol of INFO magazine
T
he longer we wear our clothes the
clothes. This is instead of traditional
change in the consumption behaviours,
better. So says Mathilde Blanc, of
dry cleaning, which she says 'is neither
via a rise of the second-hand, vintage
the natural dry-cleaner BLANC,
dry nor clean,' because it uses a toxic
and rental markets, is led by customers,
who cites recent figures showing that in
liquid called PERC (perchloroethylene,
especially among the younger
the UK we throw away 300,000 tonnes
derived from petroleum) that stays in
generations.
of clothes every single year – preferring
the garments’ fibres long after they have
fast fashion and frequent purchases
supposedly been cleaned.
rather than making use of the clothes we already own.
At BLANC, sustainability also
BLANC’s message is hitting a chord with this new generation of customers who are keen not to take
includes smaller everyday actions, such
anything for granted anymore and to
as choosing energy efficient washing
‘check the label’. ‘We’re really focused
of clothing by nine months will reduce
machines, or promoting their values
on giving people solutions to live
its carbon and water footprint by
not only to their customers, but also to
more sustainably and there is a lot
twenty-to-thrity percent,’ says Blanc,
their staff throughout the supply chain.
to talk about and a lot to do,’ says
whose business is part of a revolution in
‘We are also working on our processes
Blanc. The brand also organises brand
aftercare and sustainable values.
so most of the packaging we use is
collaborations, talks and workshops that
reusable or recyclable (or both!). We
help promote BLANC’s focus on quality
need to wear our clothes for longer, but
are not there yet, but we are moving
and sustainability.
we also need to care for them in more
as far away from plastic as possible,
eco-friendly ways. Thirty-six percent of
which is tough in our industry because
DISPOSAL
the environmental impact of clothes
alternatives often do not exist yet as
Blanc firmly believes that people should
happens at the consumer-use stage –
they do in other industries like food or
be helped to make their wardrobes last
meaning the way we wash and dry at
beauty,’ she adds.
longer. But when it comes time to part
‘Prolonging the lifespan of a piece
According to Blanc, not only do we
home, as well as our use of traditional
Blanc notes that customer mindsets
with a garment, there is now a raft of
dry-cleaning services, which mostly
are evolving, and whilst quality and
sustainable options for customers to
use toxic and harmful chemicals when
results will always be people’s primary
choose from. They can resell clothes
cleaning clothing.
consideration, customers are more and
on a number of established and newly-
more interested to hear about BLANC’s
launched second-hand platforms or opt
sustainable and ethical ethos, willing to
for a more traditional route and donate
‘Within the aftercare industry, things are
make the switch and ready to spread
to charities.
starting to change and we’re pushing
the word.
‘Frankly, once you’ve looked at what
ECO- MINDSET hard to go further. The dry-cleaning
‘People care about toxicity in their
incineration does to the environment
industry must evolve,’ says Blanc. Her
environment, and they do want their
and what landfills look like, you’ll try not
brand of cleaning only uses water and
clothes to last longer, especially when
to put any textiles in the bin at all,’ says
biodegradable detergents to clean
they have invested in quality pieces’. The
Blanc. ‘To be honest with you, I can’t remember doing it for years.’ The slow, but global recognition that the fashion industry is generating an environmental problem of epic proportions has created opportunities for businesses with a focus on sustainability. ‘We’re helping customers to take care of their wardrobes and make their clothes last longer,’ says Blanc. ‘That’s sustainable in itself because one of the biggest problems that the fashion industry needs to face is that it produces too many clothes. Our mission is to shift the focus on
From L. to R.: Ludovic and Mathilde Blanc
quality over quantity.’ I MK
info
- summer 2019 - 45
Lab vs Mine? A debate between two imporant players in the jewellery industry, De Beers and Swarovski, presented observations on ethics and sustainability
T
he debate around lab vs. mined diamonds has been
seven times less impactful on the environment than natural,
ongoing since the technology to synthesise the stones
but there are other conflicting reports. Cue confusion in the
arose in the 1950s.
marketplace.
Stephen Lussier, Executive Vice President Marketing at De
Lovegrove argues that it is easier to switch to clean energy
Beers, and Dax Lovegrove, Global Vice President Corporate
in a lab than in a mine. Lussier counters that diamond-bearing
Sustainability & Social Responsibility of Swarovski, debated the
rock Kimberlite has the potential to capture carbon, meaning
merits of each structure.
a chance to become not just carbon neutral, but carbon
De Beers is renowned for the mining of natural diamonds;
negative in mining. He also explains that labs cannot easily run
Swarovski for growing synthetic crystals. However, their
on renewable energy as the manufacturing process requires
allegiances cut.
are
Swarovski
announced jewellery
a
not
clear
a continuous power input,
recently range
with
with no variations.
of
Lussier
natural
also
to
the
diamonds. De Beers has
a
sustainable
used
synthetic
points
creation
of post-
diamonds
diamond future for the
in industrial processes for
mining locations through
decades.
conservation.
Advances now mean that
conserves
De
six
Beers
hectares
lab diamonds have the same
of land for every hectare
chemical composition and
disturbed
carbon structure as mined
Lovegrove, however, says
diamonds. They have similar
that
optics. In a passing, visual
offsets
comparison they would be
massively in recent years,
indistinguishable.
mining still risks irreversible
The question as to which
while have
mining.
biodiversity improved
damage to sensitive eco-
is better remains to be answered. As Lussier notes, their benefits differ.
by
systems. The ethics of the processes are also of key importance.
Lussier explains that natural diamonds are finite due
Natural mining has long had negative connotations due to
to their long and non-replicable creation process. They are
conflict diamonds. Lussier clarifies that, although twenty years
therefore more expensive, with an inherent preciousness due
ago around four percent of diamonds produced were linked to
to their rarity. Their value endures and increases over time, as
these regions, there is now peace in those areas.
they become scarcer.
Lussier also emphasises the vast human commitments in
Lab diamonds can be mass produced. Costs are therefore
the mining industry, which benefit developing countries. He
lower, and will decrease further as technology advances. Due
cites the 77,000 people employed worldwide by the industry,
to their cheaper production costs, synthetic diamonds can
often at up to 65 percent above the living wage for skilled jobs.
be used in more creative ways, from drilling holes to creating
Net benefits are $16Bn per year, 60 percent of which is injected
different coloured stones.
back into the local communities.
But Lovegrove dismisses the ‘real or not real’ debate
Lussier and Lovegrove therefore both highlight the
as ‘irrelevant’. The question should be: responsible or not
importance of traceability for the two types of diamond. If
responsible?
the source and supply chain are not clearly defined, this can
SUSTAINABILIT Y, RESPONSIBILIT Y AND ETHICS Lovegrove says that reports on the environmental impact of each are mixed. A recent study reported that lab diamonds are
46 - info - summer 2019
influence the trust of consumers. Conscious customers want to know the ‘real deal’. In this vein, Lovegrove counsels ‘radical transparency.' As with diamonds, it seems the question of clarity for consumers is of the utmost importance. I SL
THE SUS TAINABLE E VOLUTION OF LUXURY – FOCUS
DIAMONDS under the loupe Trends in experiential luxury and coloured diamonds are leading a market segment operating under ethical guidelines, says Alessandro Borruso, Head of Sales for Sotheby’s Diamonds, Europe
T
o see a diamond under ten times magnification – such as with a standard jeweller’s loupe – is to enter a completely new world. Delicate angles are refracted and inclusions
invisible to the naked eye come into focus, giving the stone its unique character – and a set of distinguishing marks that experts use to differentiate specific gems. This is luxury 300 million years in the making – with the oldest diamond deposits believed to be more than three billion years old. ‘What you are seeing is the finger-print of the stone,’ says Alessandro Borruso, former geologist and Head of Sales, Sotheby’s Diamonds, Europe. It is the information which is included on the stone’s ‘passport,’ a set of documents which set out the stone’s provenance and unique characteristics. Borruso,
who
conducts
diamond
masterclasses
for
Sotheby’s around the world, says that ethical sourcing is frequently asked about by prospective buyers, closely followed by queries about the investment potential of the stones. He believes that questions about sourcing are also related to the rise in experiential luxury – a broader trend in the luxury segment often described as ‘being’ rather than ‘owning.' ‘Clients want to know the story behind the diamond, of course to make sure that it is ethically sourced, but also because they want to understand the rarity on a geological level and the craftsmanship that goes into taking the raw material and turning it into an object of pure beauty,’ says Borruso. ‘They want a unique piece and a unique story to tell.’ Sotheby’s Diamonds operates in partnership with Diacore, world-leading specialists in sourcing, cutting and polishing
Clients want to know the story behind the diamond to make sure that it is ethically sourced, but also to understand the craftsmanship that goes into taking the raw material and turning into an object of pure beauty
extraordinary diamonds. Renowned within the industry, their artisan cutters have sculpted some of the finest diamonds ever to appear on the market.
COLOUR TRENDS
at Sotheby’s New York headquarters as part of a world tour for clients. According to Borruso, not only are coloured diamonds
Sotheby's Diamonds was founded in 2005 by Patti Wong,
extremely rare, but they also have seen a massive increase in
Chairman of Sotheby’s Asia, and has salons in London, Hong
interest from customers looking for one-of-a-kind pieces. There
Kong and New York and exhibits its collection around the
are naturally occurring examples with hues of yellow, pink,
world. Recent highlights include the sale of the rarest white
red and green. A recent study by the Fancy Colour Research
diamond ever to come to the market – a 102.34 carat stone
Foundation (FCRF), which promotes fair-trade, ethical standards
known as the world’s largest round, 'd' colour, flawless diamond
and transparency in the coloured diamond trade, found that
– and a recent collaboration with London-based, Brazilian-bred
sales in yellow diamonds have increased by 81 percent in the
jewellery designer, Lily Gabriella.
past ten years. Rose coloured diamonds increased by 177
Lily Gabriella's collection includes ornate rings and earrings
percent in the same time frame.
created using naturally-occurring yellow-coloured diamonds.
‘At the end of the day, diamonds are an emotional
Her nine one-of-a-kind creations, under the name Ode to
investment,’ says Borruso, who worked with the artist Damien
Yellow, were unveiled in February at Sotheby’s Diamonds retail
Hirst on his iconic diamond-encrusted skull. ‘When you start to
space in London, and six of the jewels were recently on display
learn about them, you can see that no diamond is alike.’ I
info
- summer 2019 - 47
Starting sustainably:
Sustainable Start-Up Award 2019 Five start-ups pitched to three Jury and 200 audience members to convince them of the merit of their companies at the LLTT 2019
F
rom 18 applicants, the shortlisted start-ups were
website. In this way, brands sell sustainability with styles,
whittled down to five. On the day of the London
which increases ROI.
Luxury Think Tank, this final selection had five
minutes each to present their solution to a live audience
• Nineteenth Amendment, presented by Amanda
and the jury of 13 people. The three co-presidents of the
Curtis, Co-founder & CEO. Nineteenth Amendment uses
jury had the time to pose one question to each start-up,
localised production and machine learning to disrupt a
before conferring privately for one hour with their fellow
traditional manufacturing. Their scalable and sustainable
jury members. During this time, votes also poured in
production platform requires no inventory, shortens
from the audience members via the specially created app
manufacturing time, and creates a transparent luxury
of the LLTT. Both the public vote and the jury members
experience for consumers.
concluded that the winner of the inaugural 2019 Start-Up Award was HURR Collective.
• Reflaunt, presented by Felix Winckler , Co-
Caroline Rush CBE, member of the Jury and Chief
Founder & CEO Reflaunt is a technology that promotes
Executive of the British Fashion Council, explained that the
circular economy by connecting brands with the secondary
potential of the HURR solution to incite a move away from
market. The technology allows customers of brands to
fast fashion is an admirable aim, well suiting the LLTT’s
resell, donate or recycle their past purchases directly from
central theme of Sustainable Luxury.
the e-commerce site of the brand or the retailer.
Thanks to all the start-ups who applied and presented, and best of luck for the future!
• Sana Jardin, presented by Amy Christiansen SiAhmed, Founder & CEO. Sana Jardin is an award-winning
RUNNERS UP:
sustainable luxury fragrance house that was created as a
• FavourUp, presented by Andre Wang, Chief
vehicle for social change to empower Moroccan women
Executive Officer. FavourUp helps ethical fashion brands
through flower recycling. Its alternative business model
communicate sustainability through influencer content
illustrates that luxury commerce can create social impact
across all touchpoints, especially on the e-commerce
through the upcycling of waste product. I
PRIZES FOR THE WINNER • A two-hour workshop to discover over 5,000 materials with a lower environmental impact (Kindly offered by The Sustainable Angle) • A place on a six-month mentoring programme (Kindly offered by Momentom 8) • A day of digital training selected from a variety of modules and access to 100 hours of pro-bono product design work (Kindly offered by Matter of Form) • The opportunity to be considered as a speaker at a relevant future event at the United Nations headquarters (Kindly offered by the United Nations Office for Partnerships) • Participation in three events, to be selected from Walpole’s exciting programme of masterclasses, dinners and workshops, and visibility throughout the Walpole’s 24,000 strong luxury community (Kindly offered by Walpole) • A Corporate membership (Kindly offered by the French Chamber of Great Britain)
48 - info - spring 2019
Winner Sustainable Start-up Award –
HURR Collective INFO magazine speaks with Victoria Prew, Co-Founder & CEO of HURR Collective, winner of the Sustainable Start-Up Award
H
URR Collective won the inaugural Sustainable Start-Up Award, to end the London Luxury Think Tank on a celebratory note. Out of the field of five
shortlisted candidates, HURR stood out with an interesting and innovative concept, getting to the heart of the sustainability theme. HURR positions itself as the Airbnb of Fashion, to allow women to make money from the pieces they already own, and also rent designer items for a fraction of the retail price. Victoria Prew, Co-Founder & CEO, says that the rise of the sharing economy and its impact on our day to day lives led to the company’s creation. The concept of sustainability was another crucial element in its inception. ‘As one of the world’s most polluting industries, I really believed fashion was the next big industry that was ripe for disruption,’ she says. A solution was therefore required to mitigate against this pollution, which is inherent to the production process for textiles. And what better way than to avoid this process than by reusing existing materials. ‘Extending the lifespan of your clothes is one of the best things you can do to
Extending the lifespan of your clothes is one of the best things you can do to reduce the environmental impact of your wardrobe
reduce the environmental impact of your wardrobe,’ says Prew. As a peer-to-peer marketplace, HURR allows consumers
virtual wardrobe that’s both affordable and accessible. In
to monetise their wardrobe by renting out pieces. They
order to do this, she aims to change the way millennials
also partner with the UK charity providing convenient ways
consume fashion.
to reuse your clothes, TRAID, on their 23% campaign. This
This vision can only be realised by ensuring a trustworthy
has the aim of advancing the United Nations’ Sustainable
service. ‘As a tech company, we’re really focused on
Development Goal Number 12, ensuring sustainable
ensuring that it’s safe and secure to rent your wardrobe,’
consumption and production. ‘It's estimated that 23
says Prew. ‘Trust is at our core, so we’ve worked hard from
percent of Londoners' wardrobes are unworn [so the
day one to ensure the vetting and review processes are
initiative has the] aim to put 123 million items of unworn
right to build a trusted and like-minded community.’
clothes back into use,’ says Prew.
Prew will now use her win of the Sustainable Start-
At the same time, HURR users join a community of
Up Award as a stepping stone to build on the contacts
forward-thinking people who believe renting makes both
made at the Think Tank to develop the business. ‘It was
economic and environmental sense. A large part of this
great to network with individuals across the luxury and
community comprises millennials, a generation with
sustainability sectors and we're thrilled to have won!’ says
greater awareness of sustainable issues.
Prew. ‘I believe that collaboration is key within the start-
‘Our target market is aware of the impact of fast fashion,
up world. It was an honour to win the award, and we're
and prizes "access” over “ownership”,’ says Prew. Her vision
busy developing new relationships, exploring potential
is of a world where renting is the norm, with an unlimited
partnerships and following up on leads from the event.’ I
info
- summer 2019 - 49
CULTURE – WHAT'S ON A SELECTION OF RECOMMENDED CULTURAL EVENTS
BA RB I C A N, LO N D O N
© The Pollock-Krasner Foundation, Courtesy the Jewish Museum, New York
© The Pollock Krasner Foundation. © 2018. Digital Image Museum Associates LACMAArt
Lee Krasner : Living Colour
Left: Lee Krasner Self-portrait (c.1882) Right: Desert Moon (1952), Los Angeles County Museum of Art (LACMA)
‘I like a canvas to breathe and be alive. Be alive is the point.’ Lee Krasner The Barbican Art Gallery presents the first retrospective in Europe for over 50 years of American artist Lee Krasner (1908 – 1984). One of the pioneers of Abstract Expressionism, Krasner made work reflecting the feeling of possibility and experiment in New York in the post-war period. Lee Krasner: Living Colour features nearly 100 works – many on show in the UK for the first time – from across her 50-year career, and tells the story of a formidable artist whose importance has often been eclipsed by her marriage to Jackson Pollock. I 30 May – 1 September 2019 – Tickets available from £15
D ES I G N M USEU M , LO N D O N Stanley Kubrick: The Exhibition The Design Museum, London celebrates the work of one of the greatest filmmakers of the 20th century. For the 20th anniversary of Stanley Kubrick’s death, the Design Museum celebrated the work of one of the greatest filmmakers of the 20th century. The exhibition explores his unique command of the whole creative design process of film making, Commenting the exhibition, Steven Spielberg said : ‘to all film lovers and filmmakers, if you want to understand and experience how Stanley Kubrick created these unforgettable worlds don’t miss this wonderful exhibition at the Design Museum in London.’ I 26 April – 15 September 2019 – Tickets available from £16 Right: Stanley Kubrick and Jack Nicholson on the set of The Shining.
50 - info - summer 2019
© Warner Bros. Entertainment Inc.
from story teller to director to editor.
WHAT ' S ON – CULTUR E
K ENS I N GTO N PA L AC E, LO N D O N Kensington Palace celebrates 200th anniversary of Queen Victoria’s birth To mark the 200th anniversary of the birth of Queen Victoria at Kensington Palace, this summer, its picturesque Sunken Garden will bloom with a special display created by Historic Royal Palaces gardeners. Visitors to the gardens will be treated to a rich colour palate of deep mauves, reds and oranges, all influenced by Victorian interiors, and reflective of the colours the young princess would have been surrounded by. Meanwhile, inside the palace, two new displays will be unveiled on 24 May, which would have been the monarch’s 200th birthday. The suite of rooms she and her mother occupied will © Historic Royal Palaces/Richard Lea-Hair
be reimagined in an evocative and family-friendly exploration of life at Kensington in Victoria: A Royal Childhood, while a new exhibition entitled Victoria: Woman and Crown will consider the private woman behind the public monarch, and re-examine her later life and legacy. I From 24 May – Tickets available from £17.50
CH ATSWO RT H H O US E, D ERBYSH I RE The Dog: a Celebration at Chatsworth Man’s best friend will take centre stage at Chatsworth during
of exceptional works from artists such as Constable, Stubbs,
2019 as the Cavendish family celebrate their love of dogs over
Gainsborough and Landseer sitting alongside contemporary
the centuries as part of an action-packed new season of events,
pieces by David Hockney, Lucian Freud, Jeff Koons, Antony
activities and exhibitions.
Gormley and Elisabeth Frink. I 23 March – 6 October 2019 – Tickets available from £13
© Jonty Wilde
© Scott Merrylees
The Dog: A Celebration at Chatsworth is a new exhibition
Left: Ben Long's scaffolding dog sculpture (2019) with Chatsworth house and canal pond Right: Greyhound with her two puppies suckling by Joseph Gott
info
- summer 2019 - 51
WO RL D M USEU M , L IVERP O O L Astronomy Photographer of the Year
© üukasz Sujka
A half century on from the moon landing, visitors to Liverpool’s World Museum this spring are invited to experience an Earth’s-eyeview of the universe in the exhibition, Astronomy Photographer of the Year. It features 100 awe-inspiring photographs that include the winners and shortlisted images from the 2018 competition. The competition is organised by the Royal Observatory Greenwich. In 2018, more than 4,200 entries from amateur and professional photographers from 91 countries were received. Images selected for the exhibition feature a mesmerising mosaic of the Great Orion and the Running Man Nebula; a magical scene of an Aurora Borealis exploding over the south coast of Iceland and a solar transit of the International Space Station between the massive sunspots AR 12674 and AR 12673. I 3 May – 1 September 2019 – Free entrance AR 2665 and Quiescent Prominence
N AT I O N A L M USEU M O F SCOT L A N D, ED I N BU RG H Wild and Majestic: Romantic Visions of Scotland This major exhibition at the National Museum of Scotland will tell
Wild and Majestic: Romantic Visions of Scotland spans the
the fascinating story of how tartan, bagpipes and rugged, wild
period from the final defeat of the Jacobites at the Battle of
landscapes became established as enduring, internationally
Culloden in 1746 to the death of Queen Victoria in 1901. Over
recognised symbols of Scottish identity and how Scotland
300 objects will be on display, drawn from the collections of
became established in the popular imagination as a land of
National Museums Scotland and 38 lenders across the UK. I
wilderness, heroism and history.
26 June – 10 November 2019 – Tickets available from £10
Left: Pompeo Battoni, Col William Gordon of Fyvie, 1766, credit National Trust for Scotland, Fyvie Castle Right: John Knox, Landscape with Tourists at Loch Katrine, oil on canvas, 1815, credit National Galleries of Scotland
52 - info - summer 2019
BOOK S – LIFE S T YLE
THESE BOOKS, RECENTLY PUBLISHED IN ENGLISH, WERE SELECTED BY THE FRENCH INSTITUTE IN THE UK
DISORIENTAL
ANIMALIA
by Négar
by Jean-Baptiste
Djavadi Published by Europa Editions Translated by Tina Kover Original title: Désorientale
Del Amo
Published by Fitzcarraldo Translated by Frank Original title: Règne
Wynne animal
In the waiting room of a Parisian fertility clinic, Kimiâ Sadr is faced
Peopled with nightmarish, earthy characters such as the genetrix,
by the resurfacing of forgotten memories of her life in Iran. From
Animalia follows a family of peasants for four generations,
her grandmother’s birth in a late 19th-century harem to fleeing
through the 20th century, as their family exploitation becomes
the Shah’s police at the age of 10 and escaping to Paris, the
an intensive pig farm as they face animal brutality, the two world
narration intertwines personal memories and the historical facts
wars, economic disasters and the pressure of capitalism. Del
of political turmoil, reuniting in the figure of this 25-year-old punk
Amo portrays the cruelty of man, his desire to conquer nature
rocker. By focusing on her closest relationships, she explores the
and to subdue others through violence, with a graphic prose
theme of integration to another culture, and recreation of her
reflecting the aggression it describes. I
identity. I
THE CRACKS IN OUR ARMOR
A NAIL, A ROSE
by Anna
by Madeleine
Bourdouxhe Press Translated by Faith Evans Original title: Un clou, une rose
Gavalda Published by Europa Editions Translated by Alison Anderson Original title: Fendre l’armure
Published by Pushkin
In this collection of short stories in the first person, the reader is
Along the pages of seven short stories, Bourdouxhe lifts the
invited to step in the intimate universe of a variety of colourful,
veil and explores snippets of the conflicted inner lives of seven
broken, momentary protagonists. From putting one’s dog to
ordinary women. One of them experiences the pain of heartbreak,
sleep as a strange coping mechanism to facing alcoholism or
only to find herself both the idol and the victim of a stranger, madly
attempting to break free from one’s stifling, military milieu, the
in love with her. Another borrows her mistress’s expensive clothes
collection is filled with tales of suffering and salvation. Gavalda’s
to rise above her condition as a maid, only to realise that what she
characters are solitary, lost creatures, depicted with great
is really looking for is to grow closer to that same woman, who
tenderness, and whose complex situations are both touching
haunts her fantasies. I
and humbling. I
info
- summer 2019 - 53
MANOLO BL AHNIK
AT T H E WA L L AC E CO L L EC T I O N A unique retrospective of the fashion icon’s work is underway at the famed London gallery
H
is shoes are icons of women’s
Alongside the exhibition, a series of
fashion, and for the first time,
panel talks explore the themes which
pieces from the private archives
permeate Manolo Blahnik’s designs and
of Manolo Blahnik will be on display at
the works contained within the Wallace
a major retrospective of his work at the
Collection.
Wallace Collection in London.
The alignment between footwear
When you are wearing his shoes, you are wearing a work of art 1968, when he worked at the Zapata
An Enquiring Mind: Manolo Blahnik at
and art has been central to the approach
fashion
the Wallace Collection is set among the
Blahnik has employed in his more than
photographer for The Sunday Times
masterpieces of the gallery’s permanent
45-year career as one of the most
newspaper.
holdings, famed for their collection of
influential figures in the fashion industry.
‘He knows the collection well,’ said
18th Century Old Master paintings,
His choice to showcase never-
Dr Xavier Bray, Director of the Wallace
furniture and decorative objects. The
before-seen pieces, as well as some
Collection, who was first introduced
exhibition is a unique juxtaposition of
of his concept illustrations, is not a
to Blahnik in 2018. ‘That’s what draws
iconic pieces of contemporary fashion
coincidence. He has been visiting the
Manolo to the Wallace, the high quality
and the art which adorns the gallery.
gallery since he moved to London in
of hand-made objects and their sense as
and
later
as
a
© David Hughes
© The Wallace Collection
boutique,
54 - info - summer 2019
© The Wallace Collection
An Enquiring Mind - Manolo Blahnik at the Wallace Collection © The Wallace Collection
FE ATUR E – CULTUR E
Wallace, the son of the 4th Marquess. It
An Enquiring Mind: Manolo Blahnik
Bray and his team were given carte
was bequeathed to the British nation
at the Wallace Collection from 10
blanche to select 150 shoes for the
by Sir Richard's widow, Lady Wallace,
June – 1 September / free entry
exhibition and immediately began to
in 1897. I
luxury items.’
make aesthetic connections with the works of art in their gallery. A shoe with an organic foliage concept was associated with the work of Francois Boucher, a French 18th Century painter in the Rococo-style. The gold and brass which adorns certain shoes fits naturally with the bronze inlays of the gallery's 18th Century furniture. According to Bray, it is the first art gallery to interconnect Manolo’s shoes with other objects – which he sees as a natural extension of Manolo’s artistic approach. ‘At the end of the day, when you are OLVIDA © Manolo Blahnik
wearing his shoes, you are wearing a work of art,’ said Bray. The Wallace Collection is a national museum which displays the wonderful works of art collected in the eighteenth and nineteenth centuries by the first four Marquesses of Hertford and Sir Richard
info
- summer 2019 - 55
LIFE S T YLE – WINE
ROSÉ ON THE RISE Wine Story Can Bordeaux Rosé reach the heights of its more popular counterparts from the region?
A
ccording to Jérôme Pernot, Head of Marketing for the
relaunch campaign last year is en route to becoming the star
Provence vineyard Chateau Leoube, the local rosé is
of Bordeaux Rosé, wining many awards and breaking sales
growing in popularity and appeal – a project fifteen years in the
records in the US market. The brand is owned by Tom Sullivan,
making.
a successful American entrepreneur, who also owns Chateaux
‘It has been a long process to educate the consumer that rosé isn’t just a cheap, sweet wine to drink during the summer,’
in Bordeaux, Gaby in Canon-Fronsac, Du Parc in Saint-Emilion Grand Cru and Moya in Castillon Cotes de Bordeaux.
he said in the recent interview in Drink Business magazine. ‘We
The organically farmed Château Auguste is a 74-acre
need to get the message out that many rosés are made using
Bordeaux Superieur estate, located in the Right Bank region
the highest quality standards and
of Bordeaux within the Entre-
not with leftover juice or grapes.’
Deux-Mers
Last year, exports of Provence
enchanting
appellation. name
The
Entre-Deux-
wines surged, exceeding 54 million
Mers – translated as ‘between
bottles, with a value reaching
two seas’ – refers to the Garonne
£210m. In 10 years, exports have
and Dordogne rivers that form
grown six-fold. A decade ago, only
the boundaries of this triangular
eleven percent of Provence wines
region. For thousands of years,
were exported.
the two rivers have deposited
In the UK, rosé accounted for
sand and gravel, building up a sub
seven percent of sales in 2017
rock of limestone. Given the fertile
– compared with 52 percent for
landscape,
white wines and 41 percent for
first to plant vineyards here, with
red. However, value sales of rose
monks later developing the area
are growing faster (+5%) than
during the Middle Ages.
volume (+4%) – a trend that has continued for the past five years. The premium rosé market centres
around
three
Romans
were
the
The wine has been described as ‘crisp and refreshing, with flavours
of
Watermelon
and
key
strawberries.' Others have noted
consumer profiles: those for whom
its vivid pale pink with mineral-
the ‘brand’ is rosé; those who buy
accented strawberry, red currant
according to their familiarity; and
and tangerine scents. This wine
those wanting a significant step up
could pair with many dishes such
in quality. Provence and its high-
as lobster, seared salmon or tuna,
end brands, such as the trendy
and meat dishes such a turkey. It
Whispering Angels, and Brad Pitt and Angelina Jolie’s estate
would work equally well with pasta and risotto, paella, Japanese
Miraval, are two popular choices with wine drinkers.
fish dishes, or as salads and vegetarian dishes.
The commercial success of paler pinks has greatly
The Provence Rosé has a longer aromatic persistence than
influenced other wine-producing regions. ‘The grand cru of rosé
its more famous counterparts, without using any wood-aging,
is Provence, and the Languedoc, Rhône, Loire and Bordeaux
keeping it as natural as possible. As the wines continue to
are changing the style of their rosés to match the expectations
establish themselves in foreign markets, they represent great
of the market,’ says the Bordeaux winemaker Mathieu Crosnier.
value for money and are just what many consumers are looking for in a cool summer wine. I Thibault Lavergne
One newcomer is Chateau Auguste, which after a successful
TO ORDER THE ABOVE-MENTIONED WINES AND OTHERS, CONTACT: E: thibault@winestory.co.uk T: +44 (0)7921 770 691 W: www.winestory.co.uk
56 - info - summer 2019
MEMBERSHIP OFFER
15 months’ membership for the price of 12
Join the most active business network in the UK
We are offering an additional three months’ membership to any new Patron or Corporate members who sign up before 30 September 2019. The same offer is available to any existing Active or Corporate members who wish to upgrade their membership.
For more information, please contact the membership team on membership@ccfgb.co.uk
www.frenchchamber.co.uk
OUR MEMBERS INCLUDE: ACCOR HOTELS, AIRBUS, AIR FRANCE, ALSTOM, AXA, BOSTON CONSULTING GROUP, BNP PARIBAS, BOUYGUES, BRITTANY FERRIES, CARTIER, CBRE, CREDIT AGRICOLE, DASSAULT SYSTÈMES, EASYJET, EDF, EUROSTAR, GROUPE RENAULT, HYATT HOTELS, JC DECAUX, L’OCCITANE, L’ORÉAL, LOUIS VUITTON, LVMH, MCKINSEY &CO, MICROSOFT FOR START-UPS, PAUL UK, PUBLICIS UK, RATP, SANOFI, SCHNEIDER ELECTRIC, SOCIÉTÉ GÉNÉRALE, THALES, TIFFANY & CO, TOTAL, VEOLIA, VINCI CONSTRUCTION, VIVENDI.
AT THE CHAMBER
Have a great summer!
W
e are pleased to present this special issue of the
Chamber’s Brexit Forum, Katherine Bennett CBE, Senior
magazine, which builds on the success of the
Vice President of Airbus, Mike Hughes, Zone President UK &
second edition of the London Luxury Think Tank,
Ireland of Schneider Electric, and Guillaume Bazard, Consul
in partnership with Walpole and the United Nations Office for Partnerships held this year at Spring Studios. With more
Général de France. We will look to develop our activities further after the
than 240 attendees and 30 inspirational speakers taking part
summer, following a review of our Working Groups which are
in a day of panels, debates, keynotes and networking, the
not only focused on developing services around Brexit and
event succeeded in underlining the urgent need to move to
how we can better accompany our member companies in this
sustainable business practices, and showcased innovative
context, but also on digital UX for our members, on values and
approaches across the luxury industry. (Reports from the
corporate purpose, and even more importantly, on always
conference begin on page 30.)
bringing more value for money to our members by analysing
This issue also follows on from our Annual General Meeting in June, where we had the chance to reflect back on 2018 – a challenging year yet one where we registered many
their needs and adapting our current offer. Finally, I would like to congratulate Fabienne Viala who was elected as President of the French Chamber and to
successes, including our Retail Conference, the launch of
Fabrice Bernhard, co-founder and CTO of Theodo, who was
LeBridge, and a good financial result despite the uncertainty
appointed by the Board to succeed Stephen Burgin as Deputy
linked to Brexit.
President. We are the first French Chamber abroad to appoint
Indeed, Brexit continues to be an important focus of our
a start-up founder as DP, thus sending a strong message to
activities. We have increased our efforts to share information
the growing number of start-ups and SMEs on this side of the
and best-practice across the membership, from the Brexit
Channel. I would like to thank Stephen for his support to the
pages in this magazine, to Forums & Clubs dedicated to
Chamber over the years, and for stepping in to lead the team
Brexit, to a series of dinners and events like the recent debate
in my absence last year.
we hosted at L’Institut Francais with Dominic Grieve QC MP, Neil Sherlock, Senior Advisor to PwC and Chair of the French 58 - info - summer 2019
Let me conclude by wishing you a pleasant and restful summer break. I FG
NE WS – AT THE CHAMBE R
French Chamber of Great Britain wins innovation award for LEBRIDGE18
F
lorence Gomez, Managing Director of the French Chamber, accepted the Prix Innovation 2019 award at the annual conference of the Directors of French Foreign Chambers in Paris. The award recognised the Chamber’s innovation in launching LEBRIDGE, an event and networking platform connecting large corporates with start-ups to generate business. There are plans to export the concept to other French Chamber’s internationally, demonstrating our position as a pioneering Chamber committed to responding our members’ needs and embracing new ways of working. Event organiser and Start-up Lab Manager, David Johnson, credited the success of the inaugural LEBRIDGE18 to a collaborative and open approach to working with partners and strong branding in line with the values of the event. ‘To bring together thirteen corporations and more than forty start-ups was a huge success and we were thrilled at the response from our members at the event. With this award, we are delighted with the international interest it received, and we remain committed to bringing together a team to deliver an even better LEBRIDGE this year.’ LEBRIDGE19 will take place in winter 2019, with returning event co-organising partners Early Metrics and Microsoft for Startups already on board. I
Fabrice Bernhard appointed as Deputy President of the French Chamber of Great Britain
T
he French Chamber has announced the election of Fabrice Bernhard as its new Deputy President at the French Chamber’s Annual General Meeting on Thursday 20 June 2019. He will bring his entrepreneurial and digital native experience to support the continuing success of the Chamber. Bernhard is a graduate of the École Polytechnique and a seasoned entrepreneur. He co-founded the web and mobile development company Theodo in 2009. Last year, the company registered €30m in revenue, and it is regularly ranked as one of the best start-ups to work for in France. The company is now in the process of international expansion, employing more than 40 people in the UK, and having launched an office in New York at the beginning of the year. I
The Chamber welcomes Marie Protat as Head of Communications and Digital Transformation
M
arie Protat is a specialist in Digital Marketing and Communications with experience in France, Argentina and the UK, and holds a Master’s degree in Marketing, Communications and Business Strategy. Prior to joining the Chamber, she worked in the arts sector for contemporary art galleries and for four years with the artist Damien Hirst’s company Science (UK). She is looking forward to tackling the challenge of the Chamber’s ongoing digital transformation, as well as working with the network and Chamber members. She can be reached at mprotat@ccfgb.co.uk. I
info
- summer 2019 - 59
ANNUAL GENERAL MEETING – 20 JUNE
From Heritage to Innovation The Chamber AGM was a chance to celebrate the successes of the team in 2018
T
he Annual General Meeting of the
which took place after the meeting.
French Chamber of Great Britain
Florence Gomez, Managing
welcomed 109 new companies to the dynamic membership network.
was held at the law firm Reed Smith,
Director, delivered a presentation on
offering stunning views of the city from
the performance of the Chamber in
135th anniversary and launched the very
the 32nd floor of their London offices.
2018, and highlighted areas of priority
successful LeBridge, bringing together
for 2019. Despite challenges and the
blue chips and start-ups to generate
Viala, opened the proceedings by
impact of Brexit on our activity, the
dialogue, cooperation and business
welcoming Chamber members and
Chamber recorded another successful
links.
staff. She announced that the agenda
year of operation.
Chamber President Fabienne
of the French Ambassador, Jean-Pierre
Her remarks included thanking the
In 2018, the Chamber celebrated its
The Chamber launched a new website, which is easier to use and more
Jouyet, had changed and that he would
Directors of the Board for their support
graphically impactful. Members can now
unfortunately not be able to join the
over this time, and specifically Steve
access a dedicated ‘lounge’ where they
meeting as planned.
Burgin for leading the Chamber in her
can update their contact details and
absence. She also thanked her team for
preferences, connect with each other,
their excellent work.
benefit from member offers and access
She thanked Jean-Christophe Donnellier, Minister Counsellor for Economic and Financial Affairs, who
Nicholas Ribollet, Partner of Mazars
all Chamber services.
delivered a speech on behalf of the
and French Chamber Treasurer,
Embassy. Ms Viala also acknowledged
reported on the financial performance
Chamber activities – especially
and thanked Rosie Gorman, Head of
of the Chamber.
sponsorship and advertising – however
Protocol at the French Embassy, for her attendance. Finally, she thanked Reed Smith and
Financial performance and activities
Brexit did have an impact on
it managed to expand business support services, which assisted a total of 234 French SMEs and start-ups in their
Peter Alfandary for kindly hosting the
The meeting heard that the Chamber
UK set-up and recruitment needs,
AGM for the 10th consecutive year and
recorded a turnover of +£2,278k and
accountancy and payroll outsourcing
for sponsoring the cocktail reception
pre-tax profits of £53K in 2018, and it
services. This clearly demonstrates that
60 - info - summer 2019
ANNUAL GE NE R AL ME E TING – AT THE CHAMBE R
Brexit did have an impact on Chamber activities - especially on sponsorship and advertising - however it managed to expand business support services, which assisted a total of 234 French SMEs and start-ups in their UK set-up and recruitment needs
French companies continue to cross
Brexit, on Digital UX for our members,
fast-growing digital consultancy Theodo
the Channel as they feel it is more
on values and corporate purpose,
as the new Deputy President. Bernhard
important than ever to have a foot in
and on always bringing more value for
succeeds Stephen Burgin, Former Vice
both countries.
money for members by analysing their
President of Alstom, who delivered a
needs and adapting our current offer.
farewell speech at the event.
2019 outlook
To help with these objectives, new
Peter Alfandary, Senior Vice
Reports included the forecast that 2019
functionalities will be developed on
President of the Chamber, led the
will not be an easy year, as the new date
our website: online registration to
votes on the board members. There
for a potential Brexit outcome is now
events and Forum and Club sessions
were six vacancies on the board, which
31 October, thus prolonging the current
with automatic calendar updates;
were all filled. These include Fabienne
period of uncertainty.
online payment; accessing CVs and
Viala, Chairman of Bouygues, Katherine
job offers as well as a new informative
Bennett CBE, Senior Vice President
more prudence. According to the
Brexit section with FAQs, and the latest
of Airbus, Fabrice Bernhard CTO of
Chamber’s Brexit Survey (March 2019),
information and useful links.
Theodo, Bénédicte Duval, General
In such periods, companies show
42.4 percent of companies polled said
2019 also marks the 40th
Manager of Air France-KLM, and Hugo
that they had extra costs as a result of
anniversary of INFO magazine. The
Fry, Managing Director of Sanofi UK.
Brexit. Also, 60 percent said that one
much-loved magazine of the Chamber
Three existing board members were
of the main disruptive factors are the
will be adapted to a quarterly format
re-elected including, Helena Kavanagh,
access to skilled and unskilled labour,
with an increased digital presence, and
Managing Director at JC Decaux, Olivier
followed by 26 percent saying that it’s
regular editions on critical business
Morel, Partner of Cripps Pemberton
the shifts in the value of sterling.
issues will be published seasonally.
Greenish, Olivier Nicolay, General
Further to the Strategy Board meeting in January 2019, four working
Election results
groups have been put in place. They will
The meeting saw the election of Fabrice
focus on developing services around
Bernhard, CTO and co-Founder of the
Manager of Chanel UK & Ireland, and Simone Rossi, CEO of EDF Energy. I
info
- summer 2019 - 61
for anglo-french business er of commerce in great britain
may / june 2012 www.ccfgb.co.uk
&
LUXURY
In a year when the Chamber hosted its second edition of the London Luxury Think Tank, here we reflect on the past coverage of the luxury sector in the pages of the INFO. Luxury French brands have been and continue to be an important segment of the membership, showcasing the best in French design and elegance, and our insight and editorial content has reflected a sophisticated view of the industry
Luxury goes from strength to strength
L
I N F O the magazine for anglo-french business french chamber of commerce in great britain
uxury is the exception that proves the rule. So opens a Focus section which details
a booming luxury industry at a time when the average consumer was cutting back on his or her spending. The articles and interviews that followed credited this success to a mix of factors: the influx of new Chinese money, depressed stock markets, and growing disparities of wealth leading to new consumer spending and demands. I
issue
es with
Lucia van der Post defines luxury
laduree celebrates 150th anniversary
cess story
the new french government
edf championing the olympics
n, MD of Hermès UK
de Castellane
may / june 2012 www.ccfgb.co.uk
in this issue 5 minutes with
Lucia van der Post defines luxury
laduree celebrates 150th anniversary
the success story
the new french government
edf championing the olympics
Thierry Outin, MD of Hermès UK
of Cordelia de Castellane
INFO May/June 2012
covers2.indd 1-2
62 - info - summer 2019
23/05/2012 08:48:04
23/05/2012 08:48:04
1979 2019
Christian Dior’s fashion strategy
T
his issue quotes from fashion icon Christian Dior, who once had ambitions of being an architect: ‘Strictness of
construction, precision of cut, and the quality of execution are the features which made us stand out from the ordinary.’ With the quality of the garment second only to the creative inspiration behind it – described as ‘the purity of line, style and design’ – the article notes that each purchase of a Dior garment must be understood as an investment. I
INFO September/October 1983
Luxury Brands standing out
G
avin Mensah-Coker, former Trends Planner at Publicis, is cited in this issue saying that consumer confidence,
travel uncertainty, and changes in design and meaning were the key challenges faced by the luxury sector. Pitfalls for established brands include associating too closely with fashion rather than timelessness, such as when football hooligans start wearing Burberry caps. While the ‘symbiosis between luxury and fake’ was causing people to question whether a Louis Vuitton bag is real. He noted that: ‘Luxury is still the most obvious expression of what you don’t need. However, mass elitism has moved us on to decadence.’ I
INFO January/February 2004
info
- summer 2019 - 63
AT THE CHAMBE R - BUSINE S S CE NTE R
THE BUSINESS CENTRE: A SPRINGBOARD INTO THE UK Aimed at French Start-ups, entrepreneurs and SMEs that are developing their businesses in the UK, the French Chamber’s 20-desk Business Centre is currently home to 11 companies. Meet Agathe Montagnon, Account manager, Empreinte Signs Ltd
Agathe Montagnon, Account manager, EMPREINTE SIGNS LTD
Could you tell us more about Empreinte Signs? We are a sign company specialising in heritage, public realm and architectural schemes. We handle all stages of the manufacturing process and technical development for customised signage, from design to delivery. We support public realm and design of all outdoor and indoor signage projects, helping to showcase historic and natural heritage sites. We use our fabrication facilities which include natural ceramic signage and specialist steel fabrication. We are skilled and experienced in all printing techniques. Actually, we have built our reputation on our ability to reproduce any visual on enamelled lava stone, including famous painter’s Artwork, like the French impressionist painter Monet. What makes you specific as a signage company? We use Lavastone, a natural stone extracted from the French quarries in Volvic (vulcanos). This high-end product, derived from ancestral know-how, is one of the jewels of French craftsmanship. We were awarded with the ‘Living Heritage Company’ label by the French government in 2017. We are proud to have a very skilled and experienced team, composed of production experts, product designers, graphic designers, architects, screen-print operatives, assemblers. To achieve very-high standards, we are ISO 14001 (environment) and ISO 9001 (quality management system) certified. Why did your company decide to come to the UK? We have been manufacturing signage for UK projects for about 10 years now, and our historic clients are satisfied with our know-how. We work with enamelled lavastone known across the UK, because it’s the most durable and eco-friendly material that we recommend for interpretation heritage trails. Also, it is a huge challenge for us as the UK is known worldwide as a very creative and vibrant place with lots of designers that we want to meet! We have therefore decided to set up a local subsidiary, Empreinte Signs Ltd. What is the current challenge here in the UK? Our challenge now is to be known as a signage reference across the UK by designers and landscape architects interested in high quality signage. To achieve this goal, we have recently joined the Association for Heritage Interpretation and the Sign and Design Society. At the moment, we are very excited to see our current interpretation projects that are expected to spring up in a few months in Berwick Upon Tweed and Catterick. I Agathe Montagnon agathe@empreinte-signs.co.uk www.empreinte-sign.com/uk
To find out more about the Chamber’s Business Centre, please contact Sophie Bosc, Business Consultancy Project Manager, sbosc@ccfgb.co.uk or 0207 092 6628
64 - info - summer 2019
NEW MEMBERS 1 NEW PATRON MEMBER
RATP DEV UK – Passenger Land Transport
Represented by CATHERINE CHARDON, MANAGING DIRECTOR The trading name for our London Bus operations, RATP Dev London, operates bus services in and around the capital on behalf of Transport for London. Private Hire and Commercial Services as well as Council route contracts complete the make-up of our core business. Drawing on the knowledge of our historical past and the expertise of our parent company RATP Dev, we are confident in our ability and committed to achieving our vision of becoming ‘London’s number one bus operator’. Employing over 3,500 people, we maintain a fleet of some 1200 buses and are responsible for carrying 249 million passengers each year on 97 bus routes across the London network. Our services operate from eleven operational garages. www.ratpdev.co.uk
7 NEW CORPORATE MEMBERS
BRIOCHE PASQUIER UK A French Family Bakery since 1936 Represented by Olivier Ripoche, Managing Director Brioche Pasquier started in 1936 with Gabriel Pasquier’s bakery in Les Cerqueux, France. Over the years we have developed our Brioche, Pâtisserie, and Biscotte ranges. Today, we operate across 7 countries, 3 continents, and 18 factories with over 3,500 employees. We have over 40 years of experience and pride ourselves on offering delicious, traditional and innovative french bakery products. www.briochepasquier.co.uk EIFA – INTERNATIONAL SCHOOL OF LONDON Independent school 18 months to 18 years Represented by Françoise Zurbach, Head of School EIFA School is a French and English International school located in the heart of Marylebone. Eifa prides itself to be the only school in the UK to teach all core subjects in two languages – French and English from 21 months to 17 years old in an environment small enough for individual attention. Eifa creatively combines the rigorous academic approach of the French curriculum with the breadth and excitement of the English one. EIFA is unique in its scope, its ambition and its relevance to today’s global child. eifaschool.com HURR COLLECTIVE Wardrobe Rental Platform Represented by Victoria Prew, Co-Founder & CEO HURR Collective is the UK’s first peer-to-peer wardrobe rental platform. The invite-only community allows forward-thinking women to share their designer clothes and accessories. www.hurrcollective.com MADDYNESS Leading magazine in French start-ups and innovation Represented by Louis Carle, CEO Our team of journalists have chronicled the growing start-up scene in Europe and now every week thousands of readers from Europe, and the rest of the world, use Maddyness to be informed on many topics such as the technology business, start-ups, innovative ideas and more prospective stories about the future of mankind. www.maddyness.com
info
- summer 2019 - 65
NICHOLAS KIRKWOOD Luxury Shoe Brand Represented by Nina Zukanovic, Managing Director Challenging the conventions of luxury footwear, British designer Nicholas Kirkwood is recognised as one of this generation's leading talents. He launched his eponymous collection in Spring 2005 challenging the conventions of women's luxury footwear. To date, he has gained much critical acclaim for his spirited collections, which feature a blend of genres subverting the relationship between tradition and modernity. www.nicholaskirkwood.com RATIONAL FOREIGN EXCHANGE French Payment Institution and Currency Exchange Represented by Rajesh Agrawal, Chairman and Deputy Mayor of London for Business and Enterprise A global foreign exchange and international payments company committed to providing our clients with payment solutions and great exchange rates. RationalFX is a leading international payments provider, having processed over £10bn since 2005 to more than 200 countries for 180,000 clients. RationalFX is authorised by the FCA and prides itself on secure, bank-beating rates, either over the phone or online 24/7. www.rationalfx.fr RIMILIA HOLDINGS LTD AI-driven financial software solutions provider Represented by Phil Coombs, Account Director Rimilia simplifies the complex with Intelligence finance software that enable customers to get paid on time and control their cashflow and cash collection in real-time. Our software solutions use sophisticated analytics and artificial intelligence (AI) to predict customer payment behaviour and easily match and reconcile payments, removing the uncertainty of cash collection. www.rimilia.com SERGE BETSEN CONSULTING LTD Consulting, Teambuilding, Workshop, Conference, Wellbeing Represented by Serge Betsen, Director www.sergebetsen.net
26 NEW ACTIVE MEMBERS
ACTUALISE Search & Selection – Retained Executive Search for the Insurance sector - www.actualise-search.com Represented by Nicolas Ladoucette, General Manager Bann’Up Services – Advertising for outdoor points of sale - www.bachup.fr Represented by Jean-Olivier Billès, Managing Director BKL – Chartered accountants and tax advisers - www.bkl.co.uk Represented by Julie Sanchez, Tax Assistant Bleu Comme Gris Limited – Luxury clothing and accessories lines for children - www.bleucommegris.com Represented by Stephane Marrapodi, Managing Director Brown Shipley – Private Banking and Wealth Management - brownshipley.com Represented by Stanislas Sintive, Client Senior Manager International Equinor UK Limited – Energy - www.equinor.com Represented by Laurent Poncet, Leader Strategy
66 - info - summer 2019
NE W ME MBE R S – AT THE CHAMBE R
FavourUp – Influencer Content Intelligence for CSR Communication - favourup.com Represented by Veronica Chang, CMO Go Demand Ltd – Lead & Demand Generation - www.go-demand.co.uk Represented by Stephane West, Managing Director Ksubaka – Technology, AI, Retail Solutions, Business Solutions - ksubaka.com Represented by Antoine Paul, Sales Director Laudescher – Manufacturer Timber acoustic cladding panels - www.laudescher.com Represented by Anne-Laure Dubourg, UK Country Manager Margo UK – Technology company helping with experts - www.margo-group.com Represented by Justin Paty, Head of Sales & BD Matter of Form Group – Category-leading brand strategy, experience design and digital transformation www.matterofform.com Represented by Emma Blackmore, Group Marketing Director Nineteenth Amendment – Platform for on-demand, quick turn apparel manufacturing - www.nineteethamendment.com Represented by Amanda Curtis, CEO & Co-Founder Reflaunt – Resell technology - www.reflaunt.com Represented by Felix Winckler, CCO RMM Conseil Limited – Consulting & Business Development Jewelry and Watches Represented by Romain Milaret, Director Sana Jardin Limited – The World’s First Socially Conscious Luxury Fragance House - www.sanajardin.com Represented by Rolando Zabban, Managing Director Santander – Banking - Corporate & Commercial - www.santandercb.co.uk Represented by Priscilla Hernandez, France & Belgium Alliances Director Sessùn – Womens wear, shoes and accessories conception and distribution - www.sessun.com Represented by Christelle Martino, CFO SGK Inc. – Worldwide Leader in Pack & Content Development - www.sgkinc.com Represented by Margot Jaremczuk, Business Development Director Step Concept – Manufacturing and sale of access steps and ramps for vehicles - www.stepconcept.com Represented by Olivier Anet, Director Teach on Mars – Next-Generation Workplace Learning Software Publisher - www.teachonmars.com Represented by Pierre Peigné, General Manager UK & Group Corp Devs The Instant Group – Global flexible workspace specialists - www.theinstantgroup.com Represented by Edward Harbison, Corporate Marketing Manager The Resilience Institute – Training and consulting services in team and organisational resilience www.resilience-institute-europe.com Represented by Thierry Moschetti, Partner U-Need Consulting – IT & Digital Consulting Company - www.u-need-consulting.com Represented by Paul Marta de Andrade, Chief Executive Officer UK Vivien & Associés – Legal services - ww.va-fr.com Represented by Simon Salter, Partner WorldFirst – International Payments Provider - www.worldfirst.com Represented by James Read, Team Lead and Senior Partnership Sales info
- summer 2019 - 67
DIGITAL TRANSFORMATION AND INNOVATION FORUM
Elevate your brand through employee advocacy
Sponsored by
The latest Digital Transformation & Innovation Forum session highlighted the importance of the role employees play in maintaining a company’s online reputation and image
I
n a world where everyone and
dedicated EA programme organises
talk about the brand and be part of the
everything is connected, brands
the process to ensure employees are
business growth in a tangible way.
need to adapt their strategy to their
sharing a consistent message and
consumers' new expectations, providing
story to the audience, while tracking its
advocacy programme optimises and
them with a customised and authentic
success to continually improve.
strengthens their personal branding,
experience built on trust. 'Employee
For employees, being part of an
while offering them useful digital
advocacy' is one way to address this
EA Programme benefits
shift and one which uses a company’s
There are benefits to brands and
channels like LinkedIn will increase as an
most valuable asset: its people.
to the employees involved. For
expert in their field, actively sharing not
brands, EA improves the brand
only branded content but also articles
JIN Digital Influence, and Clara
image and reinforces its e-reputation
about their personal skills, strengths
Mathurin, Senior Communications
by humanising the brand through
and interests.
Officer, Bouygues Construction,
authentic communication in a more
presented their expertise and
cost-effective way than many other
Mistakes to avoid
experience on the topic. The session
forms of marketing. Content shared by
It is important not to make the
was chaired by Fabrice Bernhard, CTO
employees receives eight times more
programme mandatory and, while
and Co-Founder, Theodo.
engagement than content shared by
incentivising ambassadors can be
brand channels, according to trend
successful, don’t put too much
watcher Social Media Today.
emphasis on it. EA is a two-value
Amanda Tran, Managing Director,
What is employee advocacy? Amanda Tran explains that employee
By sharing positive affirmations
training. Their visibility on professional
proposition based on volunteering and
advocacy (EA) is the practice of
about the company they work for,
should be motivational, not competitive.
encouraging employees to share
employees can also attract new talent to
Don’t stifle creativity in the process. EA
engaging content related to the
the business. Companies will also find
is all about trust, so allow employees to
company, industry and expertise to
retention rates and motivation increases
write their own content. I
their own social network. Building a
when employees are empowered to
How to implement an EA programme – 8-step guide 1. Define goals and KPIs: what are you trying to achieve and how do you measure success? 2. Select the EA ownership team 3. Audit internal resources: choose ambassadors and check current activity and knowledge of social media? 4. Build an editorial strategy: branded and curated content 5. Implement a tool to centralise content and measure success 6. Train ambassadors 7. Animate the community with regular meetups, conference calls and IRL meetings (lunch & learn, breakfast, incentives program) 8. Measure the impact, learn, improve
68 - info - summer 2019
DIGITAL TRANSFORMATION AND INNOVATION FORUM
Artificial Intelligence: Does it exist?
Sponsored by
The recent meeting of the Digital Transformation & Innovation Forum debated the existence of true Artificial Intelligence
T
he Merriam-Webster dictionary defines artificial intelligence (AI) as ‘the capability of a machine to imitate intelligent
human behaviour.’ This leaves wide scope for interpretation, as discussed by speakers at the latest Digital Transformation and Innovation Forum. Co-Chaired by Christophe Chazot, Managing Director at HSBC, and Fabrice Bernhard, Founder of Theodo, the session heard from Terence Tse, Co-Founder of Nexus FrontierTech and Professor at ESCP Europe Business School, and Clément Walter, PhD, Sicara.
The simple answer Terence Tse opened the session, with a direct response to the title question: does AI exist? He claims that it does not. He explains that currently machines learn from the user’s previous actions, and then uses this to guess the user’s future intentions. An example of this is predictive texting.
and processes. These need to be mapped to understand the individual tasks. Without this clarity, the system may not function as required or as effectively as would be otherwise possible. Delegating tasks to an AI system means a transfer of authority and decision-making prerogative. This risk must be weighed in light of how much control the human would wish to retain in any given scenario, according to Tse. Regardless of this relinquished control, the human is still
AI can only achieve narrow set objectives and tasks. It
required in the process. Inputs and outputs of the AI system
cannot strategise as this would involve complex layers of
should be monitored and checked frequently. If everything is
decision-making. As such, the machine guesses the appropriate
delegated to the AI, errors could creep in. Equally, the data or
next step. Tse concludes that this is therefore not intelligence.
input itself should be carefully considered to further mitigate
Implementing AI Tse uses this information to inform and define steps to follow when implementing an AI system.
against mistakes. Quantity should not be the primary concern. Inputting the right data is the key. Tse highlights that full integration of AI requires buy-in from the top. In order to ensure this outcome, he suggests aiming
The limited strategising capabilities of AI mean narrow-
for ‘low-hanging fruit.' The focus should be on projects that are
mindedness is a virtue, says Tse. Precision is required to define
easy to accomplish, with a clearly defined outcome. The return
what you want the AI to do, and what you are trying to achieve.
on investment would be easier to assess. Projects aiming
He explains that this is not possible without a full
to cut costs rather than expand revenue would adhere to
understanding of your own company’s capabilities, workflows
this principle. I
Sicara and an AI case study Sicara focuses on creating ‘real AI for real businesses.’ Their expertise centres on image recognition solutions. Dr Clément Walter, Sicara, spoke on its application to streamline workflows in the food industry, primarily through automating canteen payment processes. Clients enter the restaurant, fill their tray, and then pay. At payment, their food is scanned so they are billed correctly. There are a number of inputs to be considered in this scenario, for creating an AI interface. To ensure a faster time to production, a pragmatic approach must be taken. For example, a limited selection of foods recognisable by the algorithm can be filtered through a second till. AI can thus focus on incremental gains to grow the area of action for the AI system as more data is aggregated.
info
- summer 2019 - 69
RETAIL FORUM
GDPR: 12 months on
Sponsored by
Richard Nicholas, Partner, Technology, Data and Digital Business law at Browne Jacobson, reflects on GDPR coming into force in the UK over the past year
A
recent meeting of the Retail Forum welcomed Richard Nicholas, Partner at Browne Jacobson, as its guest
speaker. The session was held at Browne Jacobsen’s London offices, and was co-chaired by Alain Harfouche, General Manager of L’Occitane, and Catherine Palmer, General Counsel and HR Director of Joseph. This session covered some of the areas that have been clarified by case law, as well as some of the practical issues that Nicholas’ team have dealt with, working with retailers and business in different sectors. Nicholas reported that some common queries are not obvious results of GDPR, but rather side-effects of the legislation that have an impact on technology, business, retailers and cross-border trade. There was a time when GDPR was often spoken about,
There is precedent in terms of Vicarious Liability of
particularly in the press, but the issue has moved off the media
companies, notably in the case of the high street grocery chain
agenda. However, it has been keeping many law firms busy,
Morrisons vs. Various Claimants. Banking details, addresses
with Nicholas and his team having worked with more than one
and personal information of employees were leaked online by a
hundred businesses on their GDPR compliance alone.
former employee. Although Morrison’s did not carry out the leak
There are five key areas to consider, when reviewing the
and had trained its employees in GDPR, they were nonetheless
impact since GDPR was launched on 25 May 2018. These
held responsible, demonstrating that greater safeguards of
are: contracts, fines and compensations, vicarious liability,
data and insurance are necessary.
customers databases, and Brexit.
In terms of databases, there is a direct impact on email
Contracts are relatively easy to deal, compared with than
marketing to consumers and buying lists of consumer
other areas. There are key distinctions that need to be made
names is getting more difficult to do. Privacy and Electronic
between ‘data controllers’ and ‘data processors,’ with additional
Communications
working needed to be included in contracts which pose some
communications and give people privacy rights. However GDPR
practical challenges. In order to have access to data after
legislation changed the ‘consent’ value. People who consent
collection, a company needs to have ‘data controller’ status – if
must know where their data is going and who is going to send it.
Regulations
(PECR)
regulate
electronic
this is not possible, the data holder has the legal title of 'data
In the context of no deal Brexit, the UK would be considered
processor.' Contracts can stipulate when data is returned to its
a ‘third country,’ and therefore any data transfers to the UK
owner or deleted from a database.
will be considered as transfers outside the EU. In this scenario,
To date, there have been no fines imposed under the UK
there do not appear to be serious issues for transfers to the UK
jurisdiction. However, within the policy arena there has been
from the EU; however, the situation is less clear on transfers
a shift from looking at fines as a penalty to looking at fines as
from the UK to the EU, and appropriate safeguards must be
compensation.
integrated into contracts. I
Top tips • Be clear on the role of data processors vs controllers • ICO penalties are a potential threat, but civil claims are more significant • Get insurance, even if you are doing everything right • Before buying a marketing database, make sure you can use it
70 - info - summer 2019
CONSUMER BRANDS FORUM
Current & future consumer trends A recent meeting of the Consumer Brands Forum explored key trends and drivers in the sector
T
he latest session of the Consumer Brands Forum welcomed guest
health, convenience and regimes.
revolutions in the frozen food category,
There are three big disruptions
with new entrants Daily Harvest, String
speakers Chris Hayward, Head of
for the market going forward: the rise
Roots and an acquisition of Sweet Earth
UK Business Development at Kantar
and rise of sustainability, natural and
by industry giant Danone, all geared to
Worldpanel UK, and Christine Milan,
local; technology and personalisation;
re-conceptualising frozen food for the
Head of Strategy at Publicis UK. The
health and well-being. These lead to the
foodie generation.
session was chaired by Geoff Skingsley,
conclusions that consumer shifts mean
Chairman of L’Oréal UK.
that environmental concerns are higher
major trend, as brands tap into artificial
Chris Hayward of Kantar Worldpanel
Personalised nutrition is also a
up their agenda; the use of technology
intelligence, big data and social media
UK delivered a presentation on Shopper
in FMCG manifests itself most in the
trends to create healthier, ultra-tailored
Disruptions: The Shifts shaping the UK
growth of ecommerce; and health is top
choices for consumers, from test to
FMCG market. Hayward showed that
of mind for all consumers – whether by
table.
UK households have two big themes
choice or by design.
influencing how they choose to spend
Christine Milan of Publicis UK
Users of the Nestlé Wellness Ambassador programme send
their money in 2019. The cost of
delivered a presentation on The
pictures of their food via the Line
housing and associated utilities (bills,
Dynamics of Beauty and what they can
app and receive lifestyle change
etc.) has risen from 22 percent of their
teach us. Her presentation included
recommendations and specially
disposable income 10 years ago.
an exploration of major evolutions
formulated supplements in return.
in the industry, including a move
The program reportedly costs USD
fashion and eating out all come under
from purchase and use to ongoing
600 annually for capsules that make
increased pressure as discretionary
engagement with brands, and this
nutrient-rich teas, smoothies and other
spend is reined back. His research
includes a shift from transaction to
products such as vitamin-fortified
shows that shoppers don’t really
interactions and standardisation to
snacks.
care about Brexit, but they do care
personalisation.
When confidence is lower, holidays,
about what they hear and see, which
Brand experience has replaced
In an effort to promote wellness and deepen relationships with
influences their purchasing. Brexit
brand recognition and the price and
consumers, brands are also moving
factors which contributed to changed
value of a product is beginning to take a
beyond their products to offer services
behaviour include inflation, consumer
back seat to the life outcomes that the
and experiences that encourage self-
confidence, contracted growth. However
product bestows on consumers.
reflection.
changes of greater magnitude were independent of Brexit and include
Milan highlighted three case studies in the food and drink space, including
The German supermarket chain Lidl hosted a series of 2018 summer pop-ups in Ireland, encouraging young people to speak openly about mental health issues. In addition to open discussions, the programme included events designed to promote mental well-being, such as laughter yoga, meditation and sing- along socials. I
Three big disruptions in the market: The rise and rise of sustainability, natural and local; Technology and personalisation; Health and Wellbeing info
- summer 2019 - 71
CLIMATE CHANGE & SUSTAINABILITY FORUM
ETS: the European Union Emissions Trading System
Sponsored by
A recent meeting of the Climate Change & Sustainability Forum explored the EU ETS and sustainable finance
T
he session was held at Library, the private members club
general framework is an attempt to coordinate governments’
in London’s West End, and welcomed speakers Giulia
action to internalise externalities associated with greenhouse
Pavan, Postdoctoral Research Fellow, Toulouse School of Economics, Laetitia Girolami-Boyer, Sustainable Finance
gas emissions (GHG). The European Union Emission Trading System is a cap-
Director, BNP Paribas CIB, and John Rosai, Head of European
and-trade scheme for GHG emission allowances. Regulated
Energy Trading, BNP Paribas. The meeting was chaired by
plants receive EU Allowance Units (EUA) tradable across plants
Nidhi Baiswar, Head of Sustainable Design, Bouygues UK,
in all countries participating to the scheme.
and Jean-Philippe Verdier, Founding Partner, Verdier & Co. Corporate Advisory.
In terms of current economic theory, it has been suggested that allocation systems do not affect market outcome. Classical theory states the market-economy fails to deal with pollution. Economic theory also shows that market-based instruments equalize the marginal cost of abatement. Market forces shift CO2 emissions to high-cost plants, which is more efficient because CO2 damages are global.
ETS phases John Rosai, BNP Paribas delivered a presentation outlining the phases of the EU ETS. Phase 1, from 2005-07, piloted the project, with almost all EUAs were allocated for free, based on historical emission levels. The System was massively oversupplied and a collapse in prices to zero occurred at the end of phase 1. Tighter emission caps were imposed in Phase 2 (2008-
Sustainability financing
12) by reducing the total volume of EUAs by 6.5 percent, and
Laetitia Girolami-Boyer, BNP Paribas, delivered a brief
stricter penalties for non-compliance were imposed. The
presentation on BNP Paribas’ sustainability-linked business
financial crisis in 2008 reduced industrial activity and emissions
loans. Green loans are a growth area since 2017, now
from EU countries, this combined with the additional credits
representing a market of roughly $60bn.
led to a collapse of EUA prices from €30/tonne to less than
The loans are not a green bond or ‘green financing’ in the traditional sense. They are business loans, small or large,
€10/tonne. The main challenge in the current phase 3 (2013-20) is
linked to a suitability agenda of the borrowing individual/
the large surplus of EUAs transferred from phase 2, which led
company. If the company out-preforms, it gets a better
to an average EUA price of €3/tonne to €8/tonne. Phase 4 is
re-payment rate; if it under-performs, it can have higher
scheduled to take place in 2021-2030. Brexit and UK allocation
premiums.
are unclear – especially what this means for Phase 4 transition.
Rating agencies, including Standard & Poor’s, are working
According to Rosai, current market drivers for reducing
on a rating system linked sustainability loans. The loans
emissions are policies, followed by supply-side drivers like caps
represent a growth area for investors.
on EUA allocations and auctions and demand-side drivers like
EU ETS Giulia Pavan, Toulouse School of Economics, gave a
weather, fuel switching (gas/coal), utility behaviours and macroeconomic factors. Current market trends include a market size of nearly 1bn Euros of allowances every day. I
presentation on the Economic Effect of the EU ETS. The
Current market drivers for reducing emissions are policies, followed by supply-side drivers like caps on EUA allocations and auctions, and demand-side drivers like weather, fuel switching, and utility behaviour 72 - info - summer 2019
FINANCE FORUM
Digitalisation of finance functions
Sponsored by
The Finance Forum heard about the potential application of machine learning to different
T
he digital transformation of the finance function can
For example, in auditing investment funds, AI can be used
alleviate the workload of the human, allowing redistribution
to highlight discrepancies and therefore detect errors in
of human capital to value added activities. Participants at the most recent Finance Forum discovered
different scenarios. Recommendation algorithms can suggest explanations for each discrepancy.
how, through presentations by Théo Alves Da Costa, Senior
The interface between the AI and the human then becomes
Data Scientist, Ekimetrics UK, and Phil Coombs, Account
important. The results need to be easily visualised and
Director, Rimilia Holdings Ltd. The session was co-chaired
understood by someone other than a data scientist. As with a
by John Peachey, Managing Director - CFO Global Markets,
black box, it’s risky to input data for machine learning with no
HSBC, and David Strong, Digital Practice Director - Cloud
understanding as to what’s inside.
Transformation, Sopra Steria.
AI 2.0
Al these elements combine in order to create a roadmap towards a data science approach in finance functions.
Théo Alves Da Costa outlines the evolution of Artificial
Credit and Collections
Intelligence (AI). It began with rule-based learning: the
Phil Coombs, Rimilia Holdings Ltd, highlights a second example.
programmer writes the rules for the machine to follow. This has
While AI has been applied to order management, customer
progressed to learned rules, where little input is required from
billing and cash applications, credit and collections has
the programmer. The machine is provided with the data and
untapped potential.
extrapolates its own rules.
By analysing the past payment behaviour of clients, cash
That is not to say that the machine stands alone. It still
flow can be better controlled by focusing attentions on late
requires human input. The human feeds the machine with
payments, and reducing aged debt. Potential problems can be
relevant data and then monitors the output. In order to
predicted in advance. The human no longer has to be reactive,
ascertain the relevant inputs, the business first needs to
but can be proactive. This overall streamlining can lead to a
understand where the human adds value. Not everything needs
better distribution of resources, specifically human capital,
to be automated.
where people can move to value-added functions.
AI in finance
who to contact and when, rather than annoying customers
Alves Da Costa explains that, to create a fully understood
unnecessarily. Similarly, by understanding the payment
system, all stakeholders must be consulted. The finance expert
habits of customers, credit can be applied according to past
should explain the accounting rules to know what the AI has
performance. This can lead to more sales with those who are
to solve. The data scientist is required to input this expertise
proven to be prompt payers, rather than restricting their credit
into the algorithm. IT expertise is necessary to connect the data
access leading to transferrals to competitors.
sources and automate the process, before the industrialisation phase, to check feasibility. The finance expert can then monitor
It can directly benefit customer interactions, by specifying
Continuous learning from past experience has never been easier nor more beneficial. I
the output from the algorithms. info
- summer 2019 - 73
LUXURY CLUB
New look at Thomas Pink Luxury Club members learned how CEO Christopher Zanardi-Landi is bringing the iconic British shirt brand back to its former glory
L
uxury Club members were treated
each responsible for one intricate part
to an exclusive tour of Thomas Pink’s
of a shirt’s assembly. The final quality-
new atelier in South London, offering
check is conducted in the manner of
bespoke shirts for men and women.
traditional tailoring, by pinning the shirt
The guided tour and presentation was
up under two spoons for inspection.
led by CEO Christopher Zanardi-Landi,
The light and modern space is
accompanied by Tom Meggle, chair of
a world away from the picture one
the Chamber’s Luxury Club.
might have of an apparel workshop.
Once a ubiquitous discount highstreet
shirt
brand,
Zanardi-Landi spoke proudly about
Zanardi-Landi
the company’s commitment to reward
explained how he and his team are
skilled labour, and is one of few in the
rebranding the shirt-maker as more
trade who offer full-time contracts to
upmarket – where the days of ‘four
their floor staff, rather than the typical
shirts for £100’ are being replaced by
zero hours contract.
finer quality and a higher price point.
Zanardi-Landi took on Pink in 2017,
Founded in 1987, the brand was said
after stints for LVMH brands in Paris,
to be named after 18th-century London
Rome and Asia. It was the challenge
tailor Thomas Pink – though research by Zanardi-Landi’s team was not able to verify the claim. Its first shop in Chelsea became a fashion hotspot, with early clients including Hugh Grant, John F Kennedy Jr. and Elle Macpherson. LVMH purchased 70 percent of the company for roughly £41.6m in 1999 and, after the rapidly expanding brand was caught up in a period of competitive discounting, it is now being brought into alignment with the luxury associations of
Once a ubiquitous discount highstreet shirt brand, Zanardi-Landi explained how he and his team are rebranding the shirt-maker as more upmarket – where the days of ‘four shirts for £100’ are being replaced by finer quality and a higher price point
that he was hungry to take on – the revitalisation of a once iconic British fashion brand, from the ground up. He anticipates that the brand will lose a proportion of its traditional customer-base, but is confident that some will stay with them, even at the higher price point. He also anticipates that the brand will appeal to new consumers from an untapped market of
younger,
fashion
and
quality-
conscious consumers in the dress shirt
the business. According to Zanardi-Landi the re-brand is top to
space. Their offering is split between business smart, business
bottom: the logo, stores, packaging, labelling and brand imagery
casual and evening wear. It retains its distinct British sensibility,
have all been overhauled.
while acknowledging the changes in the way men and women
The tour included the bespoke shirt-making assembly line, a series of sewing machines, where skilled seamstresses were
74 - info - summer 2019
dress today. I
FORTHCOMING FORUMS & CLUBS By application only
5
Sept 09.00 -11.00
10 Sept
18.00 - 21.00
10 Sept
08.30 - 10.30
CLIMATE CHANGE & SUSTAINABILIT Y FORUM SPONSORED BY TOULOUSE SCHOOL OF ECONOMICS
Site visit: Legrand Electric
WOMEN’S BUSINESS CLUB Cocktail at Reed Smith office’s Guest speakers: Mx Pips Bunce, Director, Global Markets Technology Core Engineering – Strategic Programs, Credit Suisse
CLIMATE CHANGE & SUSTAINABILIT Y FORUM ‘Selling the sustainability business case SPONSORED BY TOULOUSE SCHOOL OF ECONOMICS
17 Sept
CONSUMER BR ANDS FORUM Plastics & packaging
08.30 - 10.30
18
BREXIT FORUM SPONSORED BY ESCP EUROPE BUSINESS SCHOOL
Sept
08.30 - 10.30
19 Sept
FINANCE FORUM 'Future of retail banking' SPONSORED BY ECONOCOM
08.30 - 10.00
Guest speaker: James Robey, Vice President, Global Head of Environmental Sustainability, Capgemini
12 Sept
08.30 - 10.30
RETAIL FORUM Retailers & Digitisation, best friends or opponents? IN PARTNERSHIP WITH ALIBABA CLOUD UK AND KSUBAKA
Venue: Alibaba Cloud UK
Most sessions take place at the French Chamber unless otherwise indicated. For more information, please contact: Ophélie Martinel at: forumsandclubs@ccfgb.co.uk or 0207 092 6634
info
- summer 2019 - 75
BREAKFAST WITH BARRETT WEST – 2 MAY
Innovation & sustainability in luxury jewellery Members gathered at Hotel Café Royale to hear how Barrett West, VP and Managing Director of Tiffany & Co., is moving with the times
O
n 2 May, the Pompadour Ballroom at the famed Hotel Café Royale
offered a grander setting than the norm for breakfast. Corinthian pilasters and mirrored panels with gilded frames surrounded the 60 guests who were treated to delicious pastries and fresh
People want the reassurance of the big brand, but they don’t necessarily want to feel that they are buying the same as everyone else
Consumers also demand sustainable products.
This
goes
beyond
the
packaging choices made to ‘the voice that we have and the power that we have around that voice to raise awareness of critical issues,’ says West. ‘We believe that we are leading the jewellery industry
juice before settling in to hear from the guest speaker of the event title.
A sustainable voice
in the right direction.’
platform to think about the future.’
Barrett West, Vice President
As
such,
things
have
evolved,
Over the years, Tiffany & Co. have
– Managing Director, UK & Ireland,
reflecting
new
stopped using coral, protected a site in
Tiffany & Co, was introduced by
generations. ‘When I joined Tiffany, 80%
Alaska from mining, and committed to
Florence Gomez, Managing Director of
of our spend was traditional media,’
achieving zero net emissions by 2050.
the French Chamber. Gomez highlighted
says West. ‘Today over 60% of our
The brand has a political voice, placing
the importance of sustainability and the
spend is digital. So, it’s been a complete
adverts urging Mr Trump and the
concept of responsibility for Tiffany &
transformation in 7 years.’
government to stay in the Paris Climate
Co. and their core business practises.
the
expectations
of
Similarly, this generation requires
Accord.
Continuing in this vein, West
more personalisation. ‘People want the
The jeweller also has complete
presented on ‘The Pioneering Next
reassurance of the big brand, but they
control over the provenance of its
Generation Luxury Jeweller’.
don’t necessarily want to feel that they
diamonds. They are the only luxury
are buying the same as everyone else,’
jewellers that can state the source of
says West.
each; all processes are kept in house
Innovating then and now Tiffany & Co. has a long history,
A new Tiffany store addresses this
after purchase of the rough diamond.
established in 1837. ‘We created [the
requirement.
the
The importance of sustainability to
Tiffany engagement ring] in 1886 and
importance of its location, in the cool,
the brand was highlighted early on to
we haven’t changed it since,’ says West.
fresh, dynamic environment of Covent
West. ‘When the CEO of the company
‘Today, it looks as fresh and as modern
Garden.
is asking you about your thoughts on
as it did then, and I think that’s a very
a
and
sustainability in your interview, that tells
good example of the vision and foresight
engraving and embossing services which
you something about the company,’ he
of the company.’
can be personalised by inputting designs
says I SL
Despite this, West says ‘we should not dwell on the past but use it as a 76 - info - summer 2019
The
perfume
into ipads.
West
store vending
emphasises
has
introduced
machine,
E VE NT S – AT THE CHAMBE R
SEMINAR WITH AUREXIA - 9 APRIL
Mitigating credit risk with AI At this evening cocktail sponsored by Aurexia, participants learnt about the potential of AI in finance and for credit risk management
T
he business value of Artificial Intelligence (AI) in banking will
that this maturity is linked to the company’s ability to process
reach $300bn by 2030, according to a 2019 report by tech
structured (standardised) and unstructured (no pre-defined
information provider, IHS Markit. With companies clamouring for
format) data. The finance sector is already well advanced in the
an ever smaller slice of the pie as its use becomes widespread,
collation of structured data but unstructured data still faces
the implementation of AI must be astute.
cultural and regulatory restrictions.
At the Sofitel Hotel, 35 participants from across the
Originally, AI was used to solve repetitive activities through
financial sector gathered to hear the differing perspectives and
the use of robotics. This has since evolved to include an element
approaches of speakers: Pierre Cabannes, Head of Finance
of anticipation: mitigating risk with strong calculation power and
& Insurance Sector, Sinequa; Ulf Clerwall, Senior Manager,
predictive algorithms. This improves the information outputted.
Aurexia; and Gauthier Rousselet, Credit Risk Management,
It is therefore not difficult to present a strong business case,
Credit Agricole CIB, with discussions expertly moderated by
as managers are well aware of the opportunities and the costs
Janos Barberis, Head of Entrepreneurship, CFTE.
involved. They are also aware of the threats raised by taking no action; they understand how their competitors may take
Tech and finance
advantage of the tech.
Janos Barberis, Head of Entrepreneurship, explains that the Financial Crisis of 2008 created a divergence in the way that
The human behind the machine
technology was applied and used. Technology aimed to drive
Ulf Clerwall, Senior Manager at Aurexia, highlights the
efficiencies in Western countries but to reform financial markets
importance of the human in developing, implementing and
in Asia. Now these opposing elements are converging.
monitoring any AI programme in business.
The focus falls on being digital first as the time to reach
Research has shown that 120 analysts collate data based
critical mass grows shorter. For traditional banks, it took nearly
around credit risk for 3 out of 5 working days, leaving only 2 days
100 years to create economies of scale. For financial tech
to analyse said data. AI can therefore address this time deficit,
companies, there is now only a 5 year cycle.
overcoming limitations to a human’s processing capabilities.
The business case for AI
edict ‘Garbage in, garbage out’ – the quality of the output
Barberis reflects that, with AI, public understanding of the
from AI analysis depends on the quality of the data inputted.
technology is based around its limited functionality from when
The human is necessary to teach the machine the language of
it was launched in the mainstream, rather than how it has
finance and the dialect of credit risk. They can also recognise the
advanced since. There is a lack of maturity in mindset which
nuances of how to teach the AI to adapt to individual institutions
needs to be overcome in order to create value.
and their cultures I
But the human must still be involved. Clerwall states the
Gauthier Rousselet, Credit Risk Management, argues
Sinequa’s solution for cognizant AI Big data isn’t helpful on its own, but information is important. Humans have the ability to work manually to interpret data, finding the meaning and transforming this to information. But this solution cannot scale. AI can help to grow this by packaging 3 elements: • Collecting and connecting data • Understanding the business value of the data • Filtering data to recognise patterns and trends which can then the sent to a presentation layer in a clear and concise format
Source: Pierre Cabannes, Head of Finance & Insurance Sector, Sinequa info
- summer 2019 - 77
JARDIN BLANC AT RHS CHELSEA FLOWER SHOW – 23 MAY
A treat for the senses
I
n a peaceful corner of the famed RHS Chelsea Flower Show
nestles Jardin Blanc. More than a restaurant, the show’s
official hospitality partner offers a treat for the senses. The live music and a live cooking station, interspersed amongst spectacular floral displays and sculptures, created an immersive experience for the guests. Accompanied by thematic botanical cocktails, forty Patron representatives of the Chamber networked in the presence of Raymond Blanc OBE himself. Alongside the exclusive space in the Jardin Blanc, guests enjoyed a relaxed evening of exploration amidst the various and exquisitely designed gardens weaving through the grounds of the Royal Hospital Chelsea. The second edition of this exclusive Patron event even saw the sunshine make an appearance. Serendipitous for an outdoor themed evening. The Chamber would like to thank Raymond and his team for their warm welcome. I SL
DÎNER DES CHEFS AT BELMOND LE MANOIR AUX QUAT'SAISONS – 4 JUNE
Seasonality and sustainability
A
beautiful 15th century manor nestled amongst meticulously manicured gardens in the heart of Oxfordshire welcomed
fifty French Chamber members for the latest edition of the Diner des Chefs. The Chef of the title was Raymond Blanc OBE, at the 2 Michelin-starred Belmond le Manoir aux Quat'Saisons. This long-standing partnership has endured for a reason. The ambience, menu and welcome of Chef Blanc combine to leave a lasting impression on attendees, many of whom return
year on year. The evening opened with a caviar tasting kindly provided by Petrossian, as is traditional for this annual gathering. This led to the main event: the 5-course meal envisaged by Blanc. The fresh Spring produce used reflected Blanc’s commitment to sourcing seasonally and sustainably, a topic on which he spoke with passion on the evening. Opening with Le Pistou, a garden vegetable soup with fresh basil, this was followed by L’Agnolotti or Goat cheese agnolotti, with tomato essence. The main course: L’Agneau, with Dorset Lamb, Jersey royals, and garden vegetables. Each dish was accompanied by a complementary red or white wine, kindly provided by Château Olivier. A selection of French and British cheese was then enjoyed before the dessert of La Fraise, ‘A theme on strawberry’. Guests enjoyed the final moments in these tranquil and elegant surroundings participating in a Q&A session with Blanc, before heading back to the buzz of the City. Thank you to Raymond and his team for their long-term support of this anticipated event. I SL
78 - info - summer 2019
E VE NT S – AT THE CHAMBE R
HENRY MOORE: THE HELMET HEADS – 19 JUNE
Armour and sculptures
H
enry Moore was a cultural pioneer, with works symbolising post-war modernism particularly
through the sculptural format. The ‘Henry Moore: The Helmet Heads’ exhibition is the first to explore the great twentieth-century British sculptor’s fascination with armour. Eric Ellul, Senior Partner at BCG and Trustee of the
Wallace Collection, gave an introductory speech to start proceedings. Fifteen Patron members of the Chamber were then not only treated to an exclusive viewing of the pieces on display, but were led by Toby Capwell, cocurator of the exhibition. Capwell presented the collection, detailing the history of and inspiration behind the sculptures, drawings, maquettes and sketches. This included the role of the armour and helmets held at the Wallace Collection, displayed alongside the sculptures, in influencing his ideas and creations. Following the tour, Patron members gathered in the covered courtyard to enjoy a breakfast and networking session, all before the start of the work day. No chinks in the armour of this particular event. The French Chamber would like to thank The Wallace Collection for welcoming members to their renowned cultural space for this exclusive morning event. I SL
LONDON PHILHARMONIC ORCHESTRA – 10 APRIL
Bankside views and a live performance
T
wenty-five Patron members came together at the Southbank
quality of the sound and the acoustics cannot be matched
Centre for an evening concert based around a selection of
unless attending a live performance.
French Classics, played by the inimitable London Philharmonic Orchestra.
Guests then experienced this first-hand, with a programme including Debussy Iberia from Images, Saint-Saëns Piano Concert
The evening started with a cocktail reception, with beautiful
No.5 (Egyptian), Ravel Mother Goose Suite, and Debussy La Mer,
views on the Thames, the London Eye and the Festival Pier.
conducted by Edward Gardner. Pianist Stephen Hough was the
During the reception and prior to the concert, Timothy Walker
star of the show, wowing the audience with his elaborate and
AM, Chief Executive and Artistic Director of the Orchestra,
passionate performance.
greeted the guests and gave a short speech. He commented on the digitalisation of music, enabling classical music to reach a wide audience, particularly younger
Overall, a rarefied combination of eminent musicians and illustrious compositions. The Chamber extends its thanks to the LPO for their performance and welcome. I SL
people. However, he believes people are missing out as the
info
- summer 2019 - 79
AT THE CHAMBE R – E VE NTS
RENDEZ-VOUS CHEZ EOL GROUP – 16 APRIL
PA CLUB AT HYATT REGENCY LONDON - 4 MAY
French furniture fun
Prime location with a prime namesake
A
t the heart of the Clerkenwell design cluster, EOL Group’s showroom is well located to display its office furniture
collections. The relaxed and modern space filled with stylish furnishings greeted guests attending the latest Rendez-vous chez event on 16 April. For the modern office, the design of the workspace can be essential to the wellbeing and engagement of employees. EOL’s collections provide a visually appealing yet practical solution to this business conundrum. With products made in France, the event provided a platform to present their heritage, style and high-quality materials. Participants tested the furniture throughout the evening, whether seated in the lounge areas or standing at the heightadjustable desks. An informal and friendly atmosphere reigned; the important role of furnishings and design in creating an amenable workplace ambience in action. I
T
he Hyatt Regency London – The Churchill styles itself, as its
RENDEZ-VOUS CHEZ BELL & ROSS – 14 MAY
Military precision in timepiece design
I
name suggests, after the appreciation for craftsmanship
and British tailoring of wartime Prime Minister and oft-cited greatest Briton of all time, Winston Churchill. However, it balances this traditional slant with modern touches for a streamlined customer experience.
n the prestigious passageway of the Burlington Arcade
Fifteen PAs from amongst the Chamber’s member base
nestles Bell & Ross, a watchmaking boutique which offers an
gathered to experience these elements for themselves. From
experience to its customers rather than a simple transaction.
the food and drink, to a tour of the bedrooms and meeting
Twenty-five Chamber members discovered the intimate
rooms, they sampled all the hotel has to offer. One lucky PA
space in an evening of networking amongst the latest watch
won a £50 voucher to use at the hotel’s Montagu Kitchen and
collections. Ladurée delicacies accompanied the discussions
all left equipped with ideas for a corporate venue.
and featured in goody bags, handed to participants at the end of the evening.
Thanks to the Hyatt Regency London – the Churchill for their warm welcome. I
For a final treat, attendees were privy to an exclusive preview of a future collection, months before public release. Inspired by the history of aviation, each of the brand’s timepieces meets specifications of military precision, originally envisaged through a collaboration between watch designers and aeronautical control panel specialists. The end of the event came quickly but time flies when you’re having fun. An appropriate sentiment amongst these flight inspired timepieces. I
RENDEZ VOUS CHEZ THE MANDEVILLE HOTEL – 6 JUNE
Mandeville at Marylebone
O
n 6th June, twenty-five members of the Chamber gathered for the month’s Rendez-Vous Chez… at The
Mandeville Hotel. Located just off the main thoroughfare in Marylebone, it adroitly balances its busy central London location with boutique hotel qualities. For business travellers, and for the odd Chamber gathering, the hotel is located only a short distance from the bustling Marylebone station. The perfect setting for a spot of afterwork networking. Participants enjoyed canapés, and the summery FrancoBritish combination of Champagne and Pimms, as well as private tours of the hotel. The lucky winner of the prize draw will also have the chance to return to partake in an afternoon tea in the associated restaurant. I
80 - info - summer 2019
FORTHCOMING EVENTS
10 July
18.30 - 21.00
SUMMER CHAMPAGNE RECEPTION At Serpentine Galleries, Kensington Gardens, London W2 3XA £50+VAT per person, £80+VAT special price for two - Open to all members
Sponsor
Champagne partner
Partner
Join us at The Serpentine Gallery and its elegant surroundings in Hyde Park to welcome the summer in London. This is the perfect opportunity to network with up to 200 participants from a wide range of sectors while sipping prestigious Champagne and enjoying delicious treats. For further information, contact Leïla Hafez at: lhafez@ccfgb.co.uk or 020 7092 6644
19 Sept
18.00 - 20.30
MEMBER 2 MEMBER COCKTAIL & EXHIBITION At The French Residence, 11 Kensington Palace Gardens, Kensington, London W8 4QP Early bird: £30+VAT individual ticket, £50+VAT special price for two Open to all members
Host
Join us for our largest Cocktail & Exhibition of the year: 18 exhibitors and 170 participants in 2018! With the chance to book a stand space, this is a unique opportunity to present your products and services to the French Chamber’s network. Or choose to attend and discover more about your fellow members! This is the 20 th edition of this much loved event. For further information, contact Suzanne Lycett at: slycett@ccfgb.co.uk or 020 7092 6651
30 Sept
PRIVATE TOUR OF THE PRIVATE COLLECTION At The Wallace Collection, Hertford House, Manchester Square, London W1U 3BN Open to Patron Member Main Representatives. By invitation only
Partner
18.30 - 20.30
The exhibition will be led by Dr Xavier Bray, Director of the Wallace Collection. Among the Collection’s treasures are an outstanding array of eighteenth-century French art, many important seventeenth and nineteenth-century paintings, medieval and Renaissance works of art and one of the finest collections of princely arms and armour in Britain For further information, contact Lauriane Véron at: lveron@ccfgb.co.uk or 020 7092 6670
info
- summer 2019 - 81
3 Oct
08.00 - 10.00
SEMINAR WITH EDF ENERGY At Sofitel St James, 6 Waterloo Pl, St. James's, London SW1Y 4AN Free of charge Open to all members More information coming soon… For further information, contact Leïla Hafez at: lhafez@ccfgb.co.uk or 020 7092 6644
8 Oct
19.00 - 23.00
ANNUAL GALA DINNER At The Landmark London, 222 Marylebone Road, London NW1 6JQ Individual: £190+VAT, Table of 10: £1,800+VAT, Table of 12: £2,090+VAT Open to all members
Ga a ANNUALGAL ADINNER2019 Guest of honour: John Allan CBE, President of the CBI, Chairman of Tesco plc Attended by over 400 senior executives of the Franco-British business community, our Annual Gala Dinner is the French Chamber’s flagship event. It features: • A champagne reception • A gourmet dinner with fine French wines • Live entertainment • A silent auction in aid of Humanity & Inclusion, whose mission is to help disabled and vulnerable people to help meet their basic needs, improve their living conditions and promote respect for their dignity and fundamental rights • And other surprises... For further information, contact Leïla Hafez at: lhafez@ccfgb.co.uk or 020 7092 6644 For sponsorship opportunities, contact Lauriane Véron at: lveron@ccfgb.co.uk or 020 7092 6670 Gold sponsor
82 - info - summer 2019
Silver sponsors
Charity partner
Champagne partner
Patron Members of the French Chamber in Great Britain
Celebrity doesn’t always sell A positive review on social media is almost twice as influential as celebrity endorsement
32%
Positive reviews read on social media
29%
Inspired to purchase from social media
28%
Offers/promotion shared by others
17%
Endorsement from an influencer/celebrity
What else is important to shoppers in 2019? Check out the results of our Global Consumer Insights Survey pwc.com/consumerinsights
Source: Global Consumer Insights Survey 2019
This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors. Š 2019 PricewaterhouseCoopers LLP. All rights reserved. PwC refers to the UK member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. 190604-094147-CH-OS