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Business Daily

Business Daily meets: Niccolo Ricci

Dec 15, 2023
17:28
Snipd AI
Niccolo Ricci, CEO of Stefano Ricci, discusses the luxury fashion industry and the challenges of balancing craftsmanship with mass production. He shares insights into the emotional connection with customers and highlights their success in China. The podcast also explores shopping tips, family succession, and the motivation behind running a family business.
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Podcast summary created with Snipd AI

Quick takeaways

  • Stefano Ricci's success lies in prioritizing quality over quantity and maintaining traditional craftsmanship.
  • Despite economic challenges, Stefano Ricci saw a remarkable 44% increase by focusing on value and long-term investment for their clients.

Deep dives

The World of Stefano Ricci: Luxury Suits for the Elite

Nicolo Ricci, CEO of Stefano Ricci, discusses their exclusive luxury suit brand for the rich and famous. The brand, founded over 50 years ago, specializes in made-to-measure suits, shirts, and accessories. Ricci emphasizes the importance of always dressing impeccably and proudly wears his own brand daily. The company has expanded globally, with 78 boutiques in top cities, thanks to Nicolo's focus on efficient operations and understanding the expectations of retailers. Ricci highlights the distinction between real luxury and aspirational luxury, emphasizing quality over quantity. He also stresses the importance of maintaining traditional craftsmanship and training new artisans for the future.

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