MUSCAT: The third annual Condé Nast International Luxury Conference opened on Wednesday in Muscat, examining the thought-provoking concept of Mindful Luxury.
Oman has a deep connection to luxury and trade, having been involved in the luxury goods industry for more than 1000 years with its roots in the trading of frankincense, otherwise known as olibanum.
Today, at the heart of the new silk route being mapped, Sayyid Badr
Bin Hamad al busaidy, Secretary-General of the Ministry of Foreign Affairs, spoke of the noble goal of connecting cultures, bringing people together through trade and cultural exchange.
He spoke of an open trading nation, acknowledging its openness to trade has helped reinforce culture tolerance, mutual respect, authentic hospitality and friendship, fed by a thirst for connecting continents and cultures.
Elie Saab highlighted the changing global world, making it easier for the younger generation to succeed today with the assistance of social media and technology. “Every talent can find his place if he has the right product,” going on to say “couture is having a renaissance — I believe women always like to be unique when she has an very important occasion and especially now, when we have a big demand from young people for haute couture, another level of luxury”.
Futurist Sophie Hackford discussed mindfulness in the digital universe, painted a vision of a future through the virtual reality lens, predicting a time when emotions will inevitably be an increasingly important part of the digital world, warning we need to be “mindful as to what we’re moving into and not sleepwalk into the future”.
Economist Dr Philippa Malmgren, author of Interpreting Signals, suggested three bold tenets; Mexico will be the ‘next China’, inflation will affect us all, and the markets are set to get much stronger, in spite of reports suggesting the opposite.
Rhea Saran, Editor of Condé Nast Traveller Middle East, explored the balance of the luxury industry as it moves from material to immaterial, the move from product to experience, and how we can adapt to the changing consumer needs, as they no longer simply want to be sold something but want to be a part of it.
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