In this engaging interview, Adam Banfield, the North American president and CEO of Baccarat, shares his career journey, personal passions, and insights into the evolving luxury industry. From his early days in a ski shop to managing one of the world's premier crystal brands, Banfield highlights the importance of soft skills, leadership qualities, and meaningful experiences. He discusses how the luxury sector has transformed over the years, emphasizing its growth during the pandemic and its future trajectory towards offering refuge in an increasingly connected world.

Banfield begins by reflecting on his first job at a ski and snowboard shop, where he learned that even seemingly minor tasks can hold great significance when approached with enthusiasm. This mindset has carried through his career, shaping his approach to management and leadership. He emphasizes the critical role of empathy and consistency in effective leadership, contrasting it with unpredictable management styles that create unnecessary stress.

A pivotal moment in his life came from advice given by his grandfather, who instilled in him the belief that if a task is worth doing, it should be done properly. This philosophy continues to guide him both personally and professionally. Discussing the evolution of the luxury market, Banfield notes its unprecedented growth during the pandemic, driven by factors such as deferred student loans and government subsidies. However, he predicts a recalibration back to more sustainable growth rates, with luxury bifurcating between timeless appeal and trend-driven allure.

His passion for luxury is reignited by projects like "Honing the Human Edge," authored by his friend Ed Mady, which delves into the essence of luxury hospitality. Banfield recounts a memorable lunch with renowned French chef Alain Ducasse, an experience marked by genuine hospitality and warmth. When preparing for significant meetings, Banfield relies heavily on thorough preparation, understanding his audience, and anticipating various scenarios.

On his days off, Banfield enjoys active pursuits with his family, such as running or golfing, or relaxing with wine alongside his wife. His definition of luxury centers on making people feel valued, whether through products or experiences. For Banfield, there's no greater indulgence than hearing Baccarat glasses clink together in celebration, symbolizing moments of joy and connection.

Adam Banfield's reflections underscore the intricate blend of personal values, professional acumen, and industry foresight necessary to thrive in the luxury sector. His emphasis on creating meaningful connections and delivering exceptional experiences resonates deeply, highlighting the enduring allure of luxury in an ever-changing world.