#2 - Lanita Layton, FMR Managing Director at HUGO BOSS

Join us on this week's episode of the Slice of Retail podcast, hosted by Jared S. Taylor! Our Guest: Lanita Layton, FMR Managing Director at HUGO BOSS.

What you’ll get out of this episode:

Luxury Retail Evolution: Lanita Layton shares her experiences with HUGO BOSS and Berks, leading major transformations in the luxury retail space.
Omnichannel Retail Strategy: She emphasizes the importance of a seamless customer experience across all channels, predicting the rise of customer experience officers.
Exclusivity in Digital Expansion: Layton explores maintaining luxury brand exclusivity while expanding online, discussing the nuances of customer data analysis.
Luxury Storytelling & Personalization: The role of storytelling and hyper-personalization in luxury, with a spotlight on brands like Brunello Cuccinelli.
Breaking into Luxury Retail: Advice for students aspiring to enter the luxury retail industry, including the value of curiosity and strategic internships.

Introduction

In this episode of the Slice Real Estate Podcast, host Jared Taylor sits down with Lanita Layton, an expert in luxury retail transformation, to explore the intricacies of the luxury market and how it is evolving. From HUGO BOSS to Berks, Lanita has driven significant changes and today shares her insights into the future of luxury retail, omnichannel strategies, and the power of storytelling.

Transforming Luxury Retail

Lanita Layton has led significant transformations at major luxury brands like HUGO BOSS and Berks. At HUGO BOSS, she faced the challenge of shifting a predominantly wholesale model into a retail-focused, omni-channel brand. By employing strong communication and change management, she guided the team through this transition, ultimately creating a more retail-centric model while maintaining the luxury brand's integrity.

The Importance of Omnichannel Retailing

Lanita highlights the growing role of omnichannel retailing, particularly in luxury. In a post-COVID world, where many expected online sales to continue rising, luxury retail has seen a resurgence of physical store demand. According to Lanita, luxury customers crave tactile experiences, and creating an online experience comparable to in-store shopping remains a challenge for luxury brands.

One of her predictions for the future is the rise of Chief Customer Experience Officers. This shift indicates the increasing importance of connecting every touchpoint—be it in-store, online, or marketing—into a cohesive brand experience.

Maintaining Exclusivity in the Digital Age

As luxury brands expand their digital presence, they face the challenge of maintaining exclusivity. Lanita explains how brands monitor customer purchasing behaviors to protect the brand image, avoiding situations where products might end up on the gray market. Brands must dig deep into data to ensure customers are purchasing for personal use rather than resale.

The Power of Storytelling in Luxury Retail

One of the most crucial elements of luxury branding is storytelling, and no brand does this better than Brunello Cuccinelli. Lanita shares how this brand has crafted a narrative that blends luxury with philosophy, culture, and sustainability. From the history of its cashmere sweaters to its deep connection to the Italian lifestyle, Brunello Cuccinelli exemplifies the power of storytelling in creating a compelling luxury brand.

According to Lanita, storytelling isn’t just about selling a product—it's about selling a lifestyle and creating a connection that resonates with the customer on a deeper level.

Advice for Aspiring Luxury Retail Professionals

For students looking to break into luxury retail, Lanita advises patience and curiosity. She encourages students to research companies that align with their values and to seek out internships, particularly those offered through schools and industry programs.

Lanita stresses the importance of doing your homework and finding a company culture that resonates with you. Whether it’s through paid internships or entry-level positions, immersing yourself in the industry is key to understanding what excites you and finding your path in luxury retail.

Lanita Layton's insights offer a masterclass in the evolving world of luxury retail. From navigating omnichannel strategies to maintaining exclusivity in the digital age, her wealth of experience serves as a valuable guide for anyone interested in the luxury sector.