Rolls-Royce Motor Cars CEO Chris Brownridge Talks New NYC Private Office
Sep 25, 2024
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Chris Brownridge, CEO of Rolls-Royce Motor Cars, shares insights on the brand's new private office in NYC, designed to create 'individual masterpieces' for luxury clients. He discusses the shift towards bespoke vehicle sales over volume, enhancing client experiences through direct designer interactions. Brownridge also delves into global luxury demand, especially in China, and the challenges faced with the all-electric Spectre model. The evolution of luxury preferences and the dedication to bespoke craftsmanship are key themes he highlights.
Rolls-Royce's strategy focuses on increasing profitability by offering bespoke models through private offices for personalized client engagement.
Despite market fluctuations, the brand remains dedicated to enhancing its offerings and responding to the demands of ultra-high-net-worth individuals.
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Rolls-Royce's Strategy for Luxury Margins
Rolls-Royce aims to increase margins by focusing on high-priced bespoke models rather than simply selling more cars. The establishment of private offices, including one in New York City, allows high-net-worth clients to engage directly with design teams for personalized vehicles. Positive client feedback indicates that this approach resonates well with their target audience, as seen in Shanghai, where the private office led to over 200 client engagements in its first six months. This strategy emphasizes creating unique experiences while enhancing profitability.
Continued Demand for Bespoke Luxury Vehicles
The luxury car market, particularly in China, shows signs of fluctuating demand, but Rolls-Royce remains committed to its bespoke model approach. Despite challenges in some regions, the company continues to see growth in engagement with ultra-high-net-worth individuals. This evolving client base is pushing Rolls-Royce to expand its facilities and production capabilities to accommodate more personalized requests. The brand's strategy involves not just enhancing its offerings but also ensuring that every vehicle remains a masterpiece tailored to individual client tastes.
Rolls-Royce Motor Cars CEO Chris Brownridge talks their new private office for designing "individual masterpieces" with Bloomberg's Matt Miller, Sonali Basak, and Katie Greifeld.