From: Retail, Luxury & Consumer Club
Date: May 24, 2012
Subject: Announcing the winner of the Innovation in Luxury Business Plan Competition
London Business School and Walpole announce the winner of the first annual
Innovation in Luxury business plan competition
London Business School and Walpole, the organisation that represents the British luxury industry, in association with leading law firm Charles Russell, are delighted to announce the team from 2nd Life as the winners of the 2012 Innovation in Luxury Business Plan Competition.
Led by Loic Charles-Artigues, MBA2013, 2nd Life is a company that will redesign, manufacture and distribute unique high-end goods, created from second hand products. Artists and craftsmen will bring to life top quality pieces which have a strong emotional value from handbags to jewellery, fashion accessories, leather goods, home decoration and furniture. The reinvented products will be beautifully designed, contemporary and functional. Additional team members include Nicolas Vincente, MBA2013, and Loic’s partner, Marianne Charles-Artigues.
As the leader of his team, Loic will receive a business support package worth in excess of £10,000 comprised of specialist legal support provided by competition sponsor Charles Russell and a tailored and unprecedented three-month mentorship programme with Harrods to help develop 2nd Life.
The judging was conducted by a panel of industry experts, luxury executives, investors and London Business School professors including Stephen Alden, CEO of The Maybourne Group; Julia Carrick, CEO of Walpole; Edward Craig, Partner at Charles Russell; Martin de Heaver, CEO of the de Heaver Group; Mark Henderson, Chairman of Savile Row Bespoke; Jamie MacLeod, Barry Asset Management; Jeff Skinner, Executive Director, Deloitte Institute of Innovation and Entrepreneurship at London Business School; Linda Tipping, Marketing Director at Theo Fennell; Michael Ward, Managing Director of Harrods; and student representative Peter Lewin, co-President of the Retail & Luxury Goods Club at London Business School. Ben Elliot, Founding Director of Quintessentially, also acted as a mentor for the applicants. (Attached photo of the award presentation, from left to right, Peter Lewin, co-President of the LBS Retail & Luxury Goods Club; Julia Carrick, CEO of Walpole; Edward Craig, Partner of Charles Russell; Nicolas Vincente, MBA2013; Marianne Charles-Artigues; Loic Charles-Artigues, MBA2013; Professors Sir Andrew Likierman, Dean of London Business School; Mark Henderson, Chairman of Savile Row Bespoke and Director of Walpole).
Loic and the 2nd Life team won amidst staunch competition. Nearly 30 applications from students and alumni across all London Business School programmes and graduating classes were whittled down to 12 entrants, all of whom had the opportunity to benefit from direct mentorship from executives within the Walpole community. With 12 final business plan submissions, the competition came to a strong finish. Applicants were judged on the quality of their business concept and articulation of the innovation, which included market, strategic or technological innovation that could be demonstrated as new or evolutionary for the luxury industry.
Loic later commented on the value of the overall experience:
“The competition was a unique opportunity to get professional feedback on our concept, an open door on the luxury business and a great push towards entrepreneurship. The mentorship session between rounds 1 and 2 was supportive and insightful.”
Judge Jeff Skinner, Executive Director, Deloitte Institute of Innovation and Entrepreneurship at London Business School, said:
“This was a wonderful initiative. The originality and the quality of the ideas presented by the students was inspiring, and many of these ideas have the potential to become strong businesses given the time and resources to develop them. And that was what this competition was about – the opportunity for some of the world’s finest young business minds to explore innovative business ideas in an industry that they find compelling.”
Julia Carrick, CEO of Walpole, commented:
“The standard of entrants to this competition has been extremely high and choosing an overall winner has been difficult but the submissions have demonstrated a wealth of creativity and innovation which will undoubtedly have significant impact on the future of the luxury industry.”
Speaking at the awards ceremony, the Dean of London Business School, Professor Sir Andrew Likierman, said:
“The Retail and Luxury Goods Club worked closely with Walpole and members of our faculty to put the competition together. This is a great example of the value our student clubs add to our community. Activities such as this add richness and diversity to the School community and foster closer links with the business community.”
Additional details on London Business School can be found at www.london.edu, on the Retail and Luxury Goods Club at London Business School at clubs.london.edu/rlg; and on Walpole at www.thewalpole.co.uk
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