Did you know Francois Kress is speaking atTNW Conferencethis summer?
Check out the full list of speakershere.
Louis Vuitton, Fendi, Bulgari, Prada, Carolina Herrera, Miu Miu.
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But looks, in this case, are deceiving.
There, its dont listen to your customers, they dont know what they want.
So for me, that was a complete shift.
I think like everything in life, there is a middle point, right?
We could bring a little more finesse into tech.
Thats cool, and you’re able to make nice little projects that way.
But youre never going to build greatness out of solving practical problems.
The attractiveness of a product goes way beyond the functionality of the product, he tells us.
We are too young, the category is still too young, he says.
There are a lot of subconscious signs that you send in luxury that overall build the dream.
Everything in luxury is overdone, look at the stores, they are just perfect.
So we spent time perfecting the gear.
The launching price was 490 dollars, in a market where most wearables set you back around 300.
We were widely criticized for that, to be honest.
As an unknown entity, its hard to start at that price.
But we decided to do it anyway, he says.
Obviously, there was a reasoning behind the price point.
There is a psychological barrier to price in general that you could never go up in price, right?
If you start low just for the sake of moving merchandise, you will stay there, he says.
But theres more to it than just keeping margins up.
Its like when you go to the shrink, we all know that paying is part of the therapy.
I think the price is part of the reflection of the seriousness of the product within limits, obviously.
Since we are in the mental wellness field, service is difficult sometimes.
We have been praised a lot for that, thats super important.
