LuxuryLab Innovation Forum | Source: LuxuryLab

NEW YORK, United States — On Friday, BoF attended the LuxuryLab Innovation Forum, a half-day conference hosted by Scott Galloway, associate professor at NYU’s Stern School of Business and founder of LuxuryLab, a think tank that attracted attention earlier this autumn with a report ranking luxury brands by their “Digital IQ.”

Billed as TED for the luxury business with “high-velocity presentations,” the forum may have felt a bit unfocused at times, but from the stream of speakers, three important themes emerged.

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Digital IQ Ranking 2009 | Source: LuxuryLab

NEW YORK, United States — In the first-ever ‘Digital IQ’ ranking of the top luxury fashion brands’ digital competence, Louis Vuitton has come out on top, followed closely by Ralph Lauren. Both are ranked as ‘genius’ in the wide-ranging qualitative and quantitative study which covers 109 brands across the luxury spectrum, not just fashion. The study was authored by Scott Galloway, Clinical Associate Professor at NYU’s Stern School and Founder of LuxuryLab, a thinktank with a focus on luxury and new media.

“2009 represented a tipping point concerning the importance of digital competence in the luxury industry,” says Galloway. “While the industry grappled with double-digit revenue declines, traffic to luxury brand sites increased an average of 61 percent. With this study, we’ve devised a metric these companies can use to benchmark specific features of their digital competence against their competitors, and highlight which area each firm stands to gain the greatest return on incremental investment in digital.”

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