MBA Luxury Brand Management and MBA Perfume & Cosmetics Management students from IFA Paris participated in the Cosmetic Valley challenge organized with LVMH Group during the last Cosmetic 360 fair! “Their performance were of remarkable quality since one of the IFA Paris team, led by Natacha Flores, won the special “Coup de Coeur” award”, Jean-Baptiste Andreani, Managing Director of Paris’ campus reported. This award was presented by LVMH Secretary General.
Cosmetic Valley is a French competitiveness cluster spreading from Tours to Rouen, Orleans, Chartres and Versailles which includes 800 companies from the industry and 1/10th of the cosmetics and beauty products sold worldwide! The objective of the Cosmetic Valley 2017 Challenge was, according to the organizers, to “create innovative solutions and services in order to digitalize a sensorial customer journey.” Therefore, the teams taking part in this challenge were not only coming from Luxury Management and Marketing schools but IT students as well were able to manage the technicity of such a project. For the participating students, the Cosmetic Valley Challenge was a great opportunity to meet LVMH’s teams while awakening their desire for innovation and entrepreneurship!
For Albane Forestier, Academic Director of IFA Paris, “The Cosmetic Valley Challenge allows the students to be confronted to work realities in a professional context and answers any customer’s demands. Thanks to a mentoring system, this approach is part of a constructive educational frame which allows students to understand by themselves how a project rises and develops and experiment it from A to Z.”
“The LVMH Challenge was an interesting experience to see how one can function under pressure. Vanessa Feiber, a student participating in the challenge confirmed: Under the title "Reveal your perceptions" we had 48h to create a sensorial marketing plan for the online market of the LVMH Group. My team focused on digitalizing "the in-store swatching experience to find the ideal foundation shade online" and won the second prize with the name "Coup de Coeur". We had the opportunity to meet the people working behind the LVMH facade which helped us refine our ideas and plans. Since we specialized our presentation on makeup, we got helpful support from the MakeUpForEver team. In addition we got to know students from other schools in and around Paris as well as the chance to extend our business network.”
For Lutho Vusa, another student from IFA Paris, who enjoyed “the meeting of minds from students of different disciplines and schools working together to bring ideas to life as well as interacting with industry experts.” An outstanding moment for him was “to have François Demachy, Perfumer Creator, the "nose" at Parfums Christian Dior listening to us and also sharing his expertise with our group.”
“Participating at the Cosmetic Valley and LVMH Challenge / Hackathon was a very intense, exciting and rewarding experience, adds Linda Tarvida from Lithuania. I found it amazing how in less than 2 days we could get from a top-line concepts / ideas to forming teams and being ready to present our well fledged projects to the jury. This often times also included a dedicated prototype for the digital / tech part of that consumer offering. Working together with students from different specialties and schools, collaborating with tutors from LVMH and having tight and strict deadlines to present our work all contributed to a learning experience close to the real-life professional situations if we were to ideate a start-up kind of concept development within a well-structured company. Last but not least, it was lots of fun!”