Chair of Strategy and Marketing

Prof. Fassnacht at the 10th Focus Wine Test Awards Ceremony

Talk on the topic "What does luxury mean for us nowadays"

At the 10th FOCUS Wine Test Awards Ceremony, which took place on April 26, 2021 in Rust, Prof. Dr. Martin Fassnacht was invited to a panel to discuss on the topic "Experience, taste, re-evaluate - what luxury means to us today". As part of this event, Prof. Fassnacht gave an exciting interview to Mr. Jörg H. Rohleder (Deputy Editor-in-Chief of FOCUS). The pandemic has made us aware of how valuable common experiences out in nature and vacations in local regions are. Good food, cooking on one's own stove, the right wine glass - organic products, luxury kitchen appliances and tasteful interiors are more in demand than ever before. In this context, Prof. Fassnacht was on hand to answer Mr. Rohleder's questions. Among other questions, Prof. Fassnacht was asked whether there is a formula for luxury and what role aspects such as exclusivity and availability play. "From my point of view, there are no secret formulas, but there are aspects that are particularly important today as well as for the future. Overall, luxury brands need to work on craftsmanship, invest in sustainability, and they also need to work more on brand experience in order to be successful in the long term," said Prof. Fassnacht.

Due to the current situation, the individual program points were largely broadcast digitally. Watch the recorded version of the panels and the awards ceremony here.