The President of Traveller Made, Quentin Desurmont, is uniting the best European bespoke travel designers, in order to capture the Ultra High Net Worth market. According to Boston Consulting Group, an estimated $1 trillion of the $1.8 trillion spent on luxuries in 2013 was for services. BCG senior partner Antonella Mei-Pochtler said that “luxury is shifting rapidly from having to being”. This quote that explains, in other words, consumers are moving from owning a luxury product to experiencing a luxury.
BCG’s research concludes that approximately €460 billion was spent on an incomparable travel adventures. The new interpretation of luxury is taking industries to stake even more ate quality, ambition… and price.
From travelling to space to dive into the deep ocean looking for Titanic, or perhaps spending $1.5 million to visit all 962 UNESCO World Heritage Sites over two years, this is the way luxury is shifting. Despite the opportunities, European bespoke travel market is still largely fragmented and under-leveraged, according to Desurmont. Even with some players emerging in Europe, determined to bring Luxury Travel services to Ultra High Net Worth Individuals (UHNWI’s), they’re still a bit small and disorganized. “For both these reasons we have created Traveller Made. Inspired by the American Consortia that has achieved amazing success by uniting the world’s premier travel providers and helped each member agency realise its market potential”, says Desurmont.
But Traveller Made isn’t as its competitors and it has 2 ambitions: promote the best travel players in Europe amongst UHNW clients and organize an ecosystem of the luxury travel partners worldwide. The goal is to be a real seal of quality, a burst of confidence, answering the market need. After matching demand with offer, the best travel designers will do the rest, making their business grow and trying to strengthen their teams in order to shape tomorrow’s European luxury travel industry.
The UHNW travel market in Europe could grow by ten or twenty times in the next ten years. The UHNW’s clients want different experiences, even to provide a moment of great happiness to their families. The great discover to Desurmont will be to know if big luxury goods brands such as Louis Vuitton, Gucci, Cartier or Hermès will start to invest in this business, adapting their long marketed in their advertising campaigns to this new lifestyle.
If you were a UHNW’s client, what would be your first experience?