8/13/2019 Monaco as Luxury Brand - Nelly Maccario

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Luxury sector seminar Monaco as a Luxury Brand IUM

Nelly MACCARIO | Guillaume ROSEs seminar

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Individual assignment

Luxury sector seminar

Speaker: Guillaume ROSE

Luxury secor seminar

Monaco as a luxury brand

Nelly Maccario

Exchange student

MSc LUX

Retail & hospitality

Academic year: 2013/2014

8/13/2019 Monaco as Luxury Brand - Nelly Maccario

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Luxury sector seminar Monaco as a Luxury Brand IUM

Nelly MACCARIO | Guillaume ROSEs seminar

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This seminar was presented by Guillaume ROSE, the President of the Monaco Tourist

Authority. Fist, the presentation of the state was made. Indeed, Monaco is the most densely

populated country in the world and the world's second-smallest independent country with a

population of just more than 35 000 inhabitants and an area of 2 square kilometers. It has

more millionaires per capita than any other country in the world and it is the smallest French-speaking country in the world. It is also the city where he has more cameras per square meter.

Key dates:

1297 = Monaco is ruled by the Grimaldi dynasty 1524 = independence of the city 1863 = creation of SBM

1864 = opening of the Casino & the Hotel de Paris 1866 = creation of Monte Carlo 1868 = creation of the railways 1911 = Monaco became a constitutional monarchy 1949 = Prince Rainier III came to power 1962 = creation of the Constitution of Monaco 1982 = death of Princess Grace

1993 = Monaco is part of the United Nations 2005 = death of Prince Rainier III

Monaco is a state very luxurious and famous for the glamourside. This is the best place for

hospitality and event management. The brand image of Monaco is based on Glamour, and it

means security, wealthy people. And of course, a business place. Many conferences are

organized in the Grimaldi Forum and Monaco host 700 international events per year. For

example the very famous Yacht show, The Monte Carlo International Whisky conference, the

Grand Prix of Monaco, other exhibitions and concerts, ballets, operas, theatre and sport

competitions.

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Luxury sector seminar Monaco as a Luxury Brand IUM

Nelly MACCARIO | Guillaume ROSEs seminar

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The most important company in Monaco is the Socit des Bains de Mer (SBM). It is

controlled by the Monegasque State; create, first of all, to ensure the development of the

district of Monte Carlo, by creating the Opra de Monte-Carlo, the Casino de Monte-Carlo

and the Hotel de Paris. Today, the company manages the principality of many assets in the

upscale hotel and leisure. With the creation of SBM resort, Monte Carlo being a real brandand became a dream. Plus, everyone can say Monte Carlo (Russian, Italians).

Casino de Monte Carlo Sun casino Caf de Paris

With the Airport, Monaco is now open to Europe and to the entire world. 25 % of the

economy is made because of the tourism. It is important to note that Prince Rainier is very

active on the international scene and try to develop ethical & environment concerns.

Key datas

- Monaco is 75% leisure- 25 % mice = meetings, events- 7 million day visitors/year- 300 000 cruise passengers / year- 36 % of workers are French- Monaco have only 4/5 stars Hotels

The Monaco image trying to get more serious in recent year (harmful glamorousside of the

country). So, Monaco set up a campaign to reinforce it image as a serious country (there is not

only the Casino in Monaco). This campaign increases the business aspect of Monaco.