At HEC Paris, It's Just Another Day In The Life Of An MBA

HEC Paris MBA students enter the dining room on their trek to Veuve Clicquot

HOW TO MAINTAIN A LUXURY, PREMIUM-PRICED BRAND ON HUGE VOLUMES

The company’s biggest marketing challenge, according to Troussier, is “to get the drink out of celebrations and into a drink when you have nothing to celebrate.” The brand’s positioning is its heritage and quality while it’s marketing is witty and light-hearted as evidenced by some of the more innovative packaging for its wines. As the person charged with helping to develop the Asia Pacific market, which accounts for 20% of the brand’s value, Troussier is trying to get more of China’s citizens eager to drink champagne. That is no easy task for the company which sells less than 60,000 bottles of champagne in the market.

During a Q&A session with the MBA students, Wang asks him how the company is able to maintain its luxury image while producing champagne at such huge volumes. More typically, she notes, scarcity is an important perception to preserve premium margins in luxury goods. Troussier brings her back to the brand’s value proposition, its history, the story of Madame Clicquot herself, the insistence on quality, and the fact that Veuve Clicquot’s marketing is not stuffy or traditional.

Then, there is the lavish nearly three-hour dinner in the formal dining room of La Maison du Marc under a massive crystal chandelier, surrounded by frescoes depicting life in Champagne. It’s a slice of business that few MBAs anywhere would ever get to experience. In fact, visits here are reserved exclusively for family or friends, family, and business associates of the brand. The meal is accompanied by a selection of several premium champagnes, including Veuve Clicquot Extra Brut Extra Old, Vintage Rosé 2008, and La Grande Dame Brut 2008.

It’s a heady experience. But then again, it’s just another day in the life of an MBA student at HEC Paris.