NC State GLAM Program Shines at Annual Luxury Summit in NYC
NC State’s Global Luxury and Management (GLAM) Program recently sponsored the third annual Italy-America Chamber of Commerce Luxury Summit that was held on Nov. 19 in New York City. The university was represented by Cara Fratto, a GLAM faculty member, and Bob Shullman, a GLAM industry board advisory member, who spoke among other experts on a panel.
Fratto and Shullman discussed how the luxury industry has been transitioning causing the need for businesses to self-disrupt to remain relevant. Fratto believes that creating a modernized appeal will open a transparent, sustainable and authentic path to consumers.
“Luxury has evolved so much over the past decade,” said Fratto. “What heritage brands used to rely on for marketing no longer works anymore. It used to be that we bought a brand because generations before bought that brand and it had heritage and history. And what we’re finding is that a lot of these brands can no longer rely on the traditional ways of marketing.”