Since we have announced that we are going to give a new content to the luxury segment, located directly above the premium segment, and rename it to excellence segment, we have had many discussions about this topic and we have introduced the term excellence into our work. To be honest, we were expecting to face criticism and contradiction, because a globally operating industry is tying its fate to the word luxury. But it turned out to be different. Instead of criticism and contradiction we received affirmation and many requests to rethink and newly position product and market strategies based on the term excellence.

A study in regard to the future outlook of luxury, originated by the auditing firm KPMG, comes to the conclusion that “luxury is no longer a safe harbor, neither national nor international”. The study confirms in all respects our point of view, that luxury could be getting a new meaning. That instead of the industrial luxury, a value is moving once again, which is going to be a new kind of luxury due to its uniqueness. An absolute luxury which one could afford but one could not buy. For instance the luxury time. The luxury to drink a sip of pure, fresh spring water. The luxury to find or have a place in the world where one could find absolute quiet.

And if we are so lucky to be able to buy a simple yet excellently handcrafted masterstroke, instead of an industrially produced luxury wristwatch, then we have taken the step from life-style to life-culture. And we made our way back to where our happiness cannot be endangered or destroyed by financial and economic crises.

Of course we were also caught up in what was going on around us. We have always called upon our family heritage and history, which dates back almost 400 years, which resulted in a self-concept that lets us view and evaluate many things differently. However, we also developed and implemented strategies where luxury played a major role in the satisfaction of wishes and dreams of the people. We are glad to have corrected our view of the market and are now able to build values that are going to fit into this changed world.

The 50 year exceptional period is more than just an exchange of words or a small step away from the crisis. It is a component for new strategies.