INSEAD Global Luxury Forum was held on November 16 at the Intercontinental Paris Le Grand Hotel. This must-attend event gathered more than 300 luxury professionals around conferences focusing on the future of luxury. An opportunity for us to listen the inspiring speech of Jean-Claude Biver.
By Claire et Hélène
For the 3rd edition of the INSEAD Global Luxury Forum, Jean-Claude Biver came to share his vision of innovation management in luxury.
The 70-years-old boss, who recently stepped down as President of the LVMH Watchmaking Division, to become non-executive chairman of the watch division, delivered a lively speech. An opportunity to get the key to his 45-years-old successful career in the watch sector.
Innovation: guaranteed success
“Luxury is the perfect example of the alliance between tradition and innovation“, according to Jean-Claude Biver. “But above all, you have to know how to identify the right moment to innovate.”
“In luxury, there is a real need for innovation, not only for the product, it would be too easy, but on each level of business organization.”
According to the leader who helped Blancpain, Omega, TAG Heuer or Hublot, innovation requires a lot of courage. It is therefore necessary to take the risk of being criticized, to accept that people do not necessarily adhere to your actions or ideas. Social and family pressure encourage us to seek perfection, not to make mistakes. And in a professional environment, the fear of reprisals can make us lose courage. The businessman invited the audience to regain confidence and not to be afraid to “go wrong”. According to him, it is necessary to learn from our failures to achieve success: “To learn, you must first be curious“.
Why is it crucial to question ourselves for succeeding
Among the different tips disclosed by Jean-Claude Biver for succeeding in our professional career: the suspicion. It is natural to make mistakes, but we must know how to take advantage and not to start over, especially in luxury. Another important point: sharing our mistakes with our team can help us learn from them, grow and move forward.
He adds: “I learn every day, that’s what I like my job and it keeps me young.”
Mr. Biver confirms that even at the top of the hierarchy, we must always learn and seek to become better, to take nothing for granted: “When you’re up, keep climbing! ”
His inspiring speech can be found in his book on leadership published this year, Jean-Claude Biver: The Wizzard of Watchmaking by Orell Füssli. He reveals how he surpassed himself and makes companies successful. Among the chapters of the book, there are issues that he holds dear: “Passion makes everything possible“, “How to surround yourself and know who to listen to” or “accept failure and learn from each mistake”. A book which gives the keys of a participative management to put in all the hands of the entrepreneurs and the curious ones who wish to learn and to improve professionally. A lesson from the one who has recently been rewarded by the Special Jury Award for his career during the 18th Geneva Watchmaking Grand Prix (GPHG).
