LEADERSHIP LESSONS FROM THE HEIGHT OF FASHIONORGANIZATIONAL LEADERSHIP

Background

Weber began his career in high-end retailing at Phillips-Van Heusen Corporation.

He later became the president, board member and CEO.

He later joined the French luxury brands group in 2006 as Chairman and CEO of Donna Karan

In 2014 he lead the growth of Donna Karan and DKNY brands in China/India

He now is starting a new chapter by entering the world of entrepreneurship

“Its not how far you fall; it’s how high you bounce back”-Mark Weber

How to be a great leader in Fashion?

It is important to understand people and how they think

In order to be a great leader in the fashion world you must know what’s going on in the world

It is important to understand finances In order to sell consumer products, you need to

understand the environment

STEP 1: ”You have to develop a broad base skills and knowledge”-Weber

Models of Leadership

Trait theories of leadership: represent the qualities that will tend to be associated with leaders and that will result in success in leadership activities

Style Theories

Style theories represent the leaders that have particular behavioral “styles” that make them more or less effective leaders.

Understanding the “Want it, Need it” concept

STEP 2: Its important to learn how the consumer think, luxury consumers are very affluent.

It’s important for the luxury fashion world to continue to redefine itself to create a new demand for something

Consumers will always continue to buy luxury items if its always something new to purchase, this idea apply to the the wanna-be luxury client

“They continue to consume what they think they need but really only want” -Weber

“We are really selling dreams”-Weber

The image of the brand is important because you are creating a dream through the image.

You are appealing to people who want and can afford the brand, you are also appealing to people who will save to buy luxury items.

You have to be able to deliver what the consumer want.

Contingency Theory

In the contingency theory model it states that there is not a best style for leadership, but instead it is based on a leader’s effectiveness on the situation.

Mark Weber: Transactional Leadership

Transactional leadership: refers to the relationship in which there is an exchange of some sort between leaders and followers

Mark Weber connects to this form of leadership because as the head of a major fashion company he exchange the promise to deliver good fashion items with hopes that consumers will buy them

Transactional Leadership

The Transactional Leadership model focus on leaders and followers, It also focus on the task

EX. The Fashion World focus on who is leading the fashion industry and the consumers

Transformational Leadership

Intellectual Stimulation Individualized Consideration Inspirational Motivation Idealized Influence

Transformational Leadership

Intellectual Stimulation= When the leader encourage followers to explore new ways of doing things

Individualized Consideration= When the leader offer support and encouragement to followers

Transformational Leadership

Inspirational Motivation: Help followers experience the same passion and motivation to fulfil goals

Idealized Influence: Serve as a role model Followers trust and Respect them

The brand must be protected at all costs

STEP 3: PROTECT THE BRAND You cant take things out of a product to get to a price

point because it will destroy the image of the brand which will affect the revenue the brand will earn.

“Your Level of execution must be unlike anything else”-Weber

STEP 4: Your creativity must inspire people, so they would find interest in your brand

Brands That Exemplify Weber Steps:

Louis Vuitton Dior Ralph Lauren

The Positive Affect Luxury Fashion has on the world

In countries like Vietnam and parts of eastern Europe the clothing manufacturing labor costs are favorable

The luxury fashion industry has increased transparency into global labor practices

The luxury fashion industry is the first to develop industry in third world countries

“Don’t work for a toxic company”-Weber

STEP 5: It’s important to find a company that fit you and your leadership skills.

Find a company where you can advance, work with people who you can learn from.

Go the extra mile to do what others aren’t doing Remember its not about you, its about other

people.

QUESTIONS????

If the luxury industry decide to lower the prices for their products, Will the brands remain popular?

What will happen to the “sweat shops” if the fashion industry lower the prices of their goods?

Works Cited

Karabell,S (2015,February 06).Leadership Lessons from the Height of Fashion

http://www.forbes.com/sites/shelliekarabell/2015/02/06/leadership-lessons-from-the-lap-of-luxury/#70253b472b90