Generation Z consulting for Champagne Krug
Published on 08 March 2021 by NEOMA
- MSc International Luxury Management
The students of NEOMA MSc International Luxury Management (IMLux) programme had the opportunity to work on a very topical assignment for the legendary champagne house Krug (LVMH group).
IMLux enjoys a privileged relationship with Krug, thanks to which Margareth (Maggie) Henriquez, Krug’s dynamic CEO, is well acquainted with the specificities and strengths of the programme. So, she was extremely keen on getting input from IMLux students, both very international and belonging to Generation Z.
Generation Z, a critical target audience for all luxury companies
Maggie Henriquez therefore wanted the students to study three specific subjects: Gen Z’s perception of the luxury industry in general, Gen Z’s perception of the champagne sector, and Gen Z’s expectations with regard to sustainable development. Each group presented its work and recommendations to her. She then shared it with her Krug managers so as to assist the champagne house reflect on its communication and marketing strategies. Asked for her impressions about the overall project, Maggie Henriquez described it as “a fantastic experience. The subjects were all very important to the house, and to my immense surprise the presentations and results were impressive: the approach, the quality, the content, the structure, the presentation, the creativity, the maturity, and the relevancy of the recommendations. I was extremely impressed with the teamwork, the depth of the research, and the time dedicated to build the answers. The results, especially for the two groups who made recommendations, delivered amazing insights to the house. A great bravo to the school, the program and student!”
The strong multicultural character of IMLux students, as they come from nearly 20 different countries, made their point of view even more interesting for Krug which has a strong presence on the international market. Working on a real problematic and directly with the CEO of a prestigious brand, was a wonderful opportunity for the students. In the words of Marie-Charlotte Gourlet, an ex-PGE and IMLux student, “Having the chance to exchange with such an inspiring woman like Maggie Henriquez on champagne and luxury was a truly unique experience.” Adds Bianca Frizzoni, from Italy, “I felt a strong emotional connection between Margaret Henriquez, and the students. We shared with her our personal luxury experiences and she seemed to be very fascinated and interested in younger generations’ conception of luxury.”