With a string of exciting career moves, from launching his own boutique to Gucci to Barneys, CMO of Sotheby's International Realty Kevin Thompson has very quickly become a mastermind at luxury brand reinvention.
This global luxury real estate brand associated with the iconic 275-year-old Sotheby's auction house, went from $4 billion in sales in 2014 to $112 billion in 2018, serving 72 countries with close to 23,000 agents. So when Kevin came in, his role was to step on the gas and pioneer the future with digital disruption knocking on their door, amidst the largest intergenerational transfer of wealth ever – somewhere in the neighborhood of $24 trillion that will pass to millennials.
Didn’t think of millennials as a Sotheby’s customer? Well, that was the first thing Kevin uncovered in his initial research. 65% of the people who visit their website globally are between the ages of 18 and 44. From a digital perspective, their use of technology and channels is fundamentally different from the past, as is the type of content they are looking for, when and why – shifting from print catalogs of homes to a lifestyle inspiration channel. With that, Kevin has been hard at work building new engagement models, new channels, new ways of extending the Sotheby’s brand, transforming real estate into an entertainment platform.
Tune in to hear more on how Kevin is leveraging his vast experience with luxury brand psychology and transformation in this latest episode of CMO Moves.