Mr. Alexander Kraft, Chairman & CEO of Sotheby’s International Realty, France-Monaco, came to the university on October 1, 2009, to address the combined MLUX and MBA Luxury Pathway groups.
After touching upon the evolution of the Sotheby’s brand, Mr. Kraft described in detail his strategy in launching and rapidly grow the Sotheby’s International Realty brand in France.
In elaborating on the integrated and farsighted marketing, franchising, branding, and service strategies used, Mr. Kraft provided a unique insight into how to create and grow a luxury brand in a difficult and competitive market.
He also described the various challenges and obstacles faced and how, in the space of only five years, Sotheby’s International Realty France-Monaco soared from five franchises to close to 50, and is now the strongest player in the French luxury real estate market.
It is also the second most successful Sotheby’s International Realty operation after the US.
As further validation of the success of Mr. Kraft’s strategy, in 2009 Sotheby’s International Realty France Monaco won the European Business of the Year Award, which recognizes excellence, best practice and innovation amongst firms
in the European business community.