{
  "id": 14750555,
  "title": "Olivier Nicolay: \"Las firmas que perduran son las que logran expandirse sin perder su ADN\"",
  "url": "https://urgent.news/2026/10/15/olivier-nicolay-las-firmas-que-perduran-son-las-que-logran-expandirse",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-15T17:28:41.000Z",
  "source": {
    "name": "Expansion ES",
    "slug": "expansion-es",
    "url": "https://www.expansion.com/luxury-forum/2026/10/15/6ad1011ae5fdeae8308b45a3.html"
  },
  "original_language": "es",
  "account": "Olivier Nicolay, a former Chanel executive, discusses the enduring success of luxury brands and their ability to expand without losing their core identity. Over three decades in the luxury industry, Nicolay served as regional president for Chanel in multiple countries, shaping the global strategy of the company. Today, he presides over the Dispensaire Français in London and is an associate professor at ESCP business school in Madrid and London. He also advises various companies.\n\nNicolay identifies two distinct activities in the luxury industry: product creation and construction of identity, and management of the secondary market. While creating products and building brand identity are crucial, ignoring the secondary market is no longer an option. The secondary market is gaining relevance in the coming years, according to Nicolay, who delivers a presentation at the EXPANSION Luxury Forum in collaboration with Circle Fortuny and Fuera de Serie, with support from Puig, Santander, DILS Lucas Fox, Radisson Hotel Group, and McKinsey & Company.\n\nNicolay highlights a shift in priorities among younger generations, who are increasingly interested in experiences over accumulating possessions. He recalls a conversation with his son in New York that made him realize how priorities have changed. The younger generation travels frequently and encounters the same stores in different cities, such as Chicago, Paris, London, and New York. They no longer feel the need to buy something in each destination to prove they have been there.\n\nFor him, this trend forces luxury brands to redefine their value proposition. The brands now have the opportunity to offer much more than just products. Imagine a client arriving in a city for an important dinner and finding a selection of clothing, accessories, and services tailored to their needs. The value now lies not in the possession of the product, but in the unique experience surrounding it. The exclusive nature of luxury is no longer about having more things, but about receiving exceptional and personalized attention.\n\nHowever, this evolution coexists with a seemingly contradictory reality: long queues still form outside some of the most coveted boutiques in the world. Nicolay admits that it's a challenging balance. Luxury brands strive to create desire and exclusivity, but at the same time, they must ensure a consistent experience aligned with the values of luxury. Behind these queues, there are various reasons, such as demand exceeding the capacity of the stores, limited production, or a strategy of scarcity. However, excessive waiting can damage the experience. Another increasingly relevant factor is the secondary market.\n\nNot all buyers seek the same objective. Some purchase products to enjoy them, while others do so with the intention of reselling them. This dynamic puts pressure on certain references and contributes to the formation of waiting lists and queues. The challenge is to maintain exclusivity without compromising the quality of service. Nicolay concludes that the real challenge lies in preserving exclusivity without sacrificing the quality of service.",
  "summary": "El ex directivo de Chanel reflexiona sobre la segunda mano, las falsificaciones, la energía creativa y otros fenómenos que capta en los alumnos de la escuela de negocios ESCP en la que ejerce como docente. Leer",
  "key_points": [
    "Olivier Nicolay discusses luxury brands' ability to expand without losing core identity",
    "Secondary market gaining relevance in luxury industry",
    "Younger generations prioritize experiences over possessions"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}