Federico Foti, Brand Director at Trussardi, Gives Guest Lecture to Professor Paganini's International Marketing Class
On March 2, Professor Paganini’s MKT 330 – International Marketing class welcomed Federico Foti, Brand Director at Trussardi. The event was sponsored by the John Cabot University Institute for Entrepreneurship and students from Professor Michèle Favorite‘s BUS 220 – Business Communications also attended.
Federico Foti’s extensive background in the fashion industry provided students with insight on the history of the company and its goal to spread the Made-in-Italy brand around the world.
Although fashion itself is present in our everyday life in the way we dress, fashion as big business began only 40 years ago and has become one of the richest industries in the world. Fashion or “haute couture” first entered society in the form of luxury items only available to a small segment of the population. Clothes were largely viewed as a basic, general product. It was not until the 70’s that fashion became more democratic, spreading to a wider market.
Nicola Trussardi was one of the first to interpret and take advantage of this evolution. Trussardi opened in 1911 as a high quality leather glove producer. At the end of the 60’s, Nicola predicted the expansion of the middle class and created a complete line of leather-made products. He was also one of the very first Italian managers to value the importance of a logo, not only for marketing reasons but also to depict the identity of a company throughout the years.
Heritage remains a big component of the Trussardi culture. Although Trussardi currently owns three different labels and distinct lines, its success lies in the capability to portray a unique look in all of the merchandising, through communication, high quality and focus on the Made-in-Italy aspect. Once the public is able to recognize the name, Federico explained, then the company can start creating the lifestyle concept, offering a complete range of products.
At the end of the lecture, Federico emphasized the significance of technological evolution in the fashion industry. He explained that, while standard advertising is still very important, the advent of web platforms has changed the approach of the final consumer, affecting purchasing habits. In fact, according to Google research, 74% of Italian customers consult the Internet before buying a luxury product. Understanding the connection between the digital and offline commerce is fundamental to being successful in the luxury fashion industry.
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