Columbia Business School and Parsons School of Design Students Develop Innovative Strategies for Leading Luxury Goods Companies

NEW YORK, Dec. 11 /PRNewswire/ -- From forward-looking concepts for the Chanel shopping experience in 2012 to a luxury internet site for Bulgari, students from Columbia Business School and Parsons The New School of Design recently marked a semester-long seminar in which teams examined case studies to develop concepts for some of the world's leading luxury goods companies. The course, "Design and Marketing of Luxury Goods," featured projects for Faber-Castell, Lladro, LVMH Perfumes and Cosmetics, and Saks Fifth Avenue, in addition to Bulgari and Chanel.

The class functions as an incubator for new ideas for participating companies, not solely for product development but also for enhancing their customer base. This year's projects included increasing brand visibility in the U.S. for Faber-Castell; developing new products to promote the new Saks Fifth Avenue logo; enhancing Lladro's image among young, affluent consumers, including new product concepts; creating new fragrance concepts for a younger consumer base for LVMH Perfumes and Cosmetics; a luxury internet site for Bulgari; and developing "Chanel 2012" -- a concept for the luxury shopping experience in 2012.

"The goal of this course is to teach students how design and marketing work together as integral parts of the product development process, and how communication and collaboration across disciplines play into the success of a company," said Amir Ziv, Vice Dean of Columbia Business School. "This is a terrific opportunity for our students to learn from real-world experience, and to gain insight into the design process from a leading design school."

Project teams combined Columbia business students with Parsons design and management, integrated design, communication design, product design, and fashion marketing and fashion design students, who worked closely with executives from the participating companies to develop their strategies and concepts. The course is designed and led by Ketty Maisonrouge, an adjunct professor at Columbia Business School and President of the Luxury Education Foundation, and taught together with Parsons full-time faculty Carlos Teixeira and Assistant Professor Heico Wesselius. "Now in its 13th year, the Luxury Education Foundation developed this program to provide business and design students the rare opportunity to interact with top executives in the luxury goods industry and learn the inner workings of product development," said Barbara Cirvka, Chair of the Luxury Education Foundation and Division President for Fashion, Watches and Jewelry for Chanel, Inc.

"This collaborative program demonstrates Parsons commitment to providing our students with an understanding of the application of design in business strategy and new product development," said Tim Marshall, Dean of Parsons. "As the importance of design thinking in the business world is more widely recognized, an increasing number of companies are turning to Parsons graduates with an expertise in this area. This is one of the reasons that our Design and Management Bachelor's program has experienced tremendous growth."

"By creating a challenging environment for students, participating companies provide firsthand experience in the development, creation and marketing of new concepts and product lines -- in short, the professional skills needed to succeed in careers in the luxury industry," said Bob Chavez, President and CEO of Hermes USA, and Treasurer of the Luxury Education Foundation. "In turn, we're happy to share our experience and expertise to support the students and to encourage talent and creativity in the marketplace."

Columbia Business School

Widely admired for its global and cutting-edge curriculum, Columbia Business School is one of the leading business schools in the world. In addition to its renowned MBA program, Columbia Business School offers the prestigious Executive MBA (EMBA) and non-degree Executive Education programs. The School's faculty comprises internationally respected professors and includes Joseph Stiglitz, a recipient of the Nobel Prize in Economics. For further information, visit http://www.gsb.columbia.edu.

Parsons The New School for Design

Recently named one of the top design schools for creative talent by BusinessWeek, Parsons The New School for Design is one of the most prestigious and comprehensive degree-granting colleges of art and design in the nation. Parsons BBA in Design and Management blends traditional business courses with those emphasizing the strategic importance of design thinking in product innovation, sustainable business models, and business creation. Parsons has a long history of engaging leading corporations to develop design solutions for real-world business challenges, including Samsung, Siemens, Daimler AG and Microsoft. For more information, visit http://www.parsons.newschool.edu

The Luxury Education Foundation

Launched in December of 2004, the Luxury Education Foundation is a tax-exempt not-for-profit organization focusing its efforts on educational programs such as developing and sponsoring the interdisciplinary course "Design and Marketing of Luxury Products" while partnering with Columbia Business School and Parsons the New School for Design.