Panel: The Transparency Paradox — Day 1, Ravensbourne

Luxury has historically evolved in response to broader societal, cultural, and economic dynamics (Kapferer & Bastien, 2012). Its value has rested on a delicate balance between innovation, economic significance, and emotional resonance. Today, this equilibrium is under unprecedented pressure.

In an age shaped by AI-generated design, counterfeit culture, algorithm-driven consumption, and growing ethical scrutiny, luxury confronts a profound crisis of authenticity. This crisis is not necessarily technological; it is deeply human and increasingly consumer-driven. As expectations shift, both industry stakeholders and audiences no longer accept symbolic narratives alone. Instead, they demand proof-based luxury—verified craftsmanship, traceable provenance, and substantiated value—alongside or in place of signal-based luxury traditionally built on aspirational imagery, heritage storytelling, and exclusivity signalling.

This shift shows that the construction and recognition of truth in luxury are undergoing a deep transformation: from what is presented to what can be verified, and from what is seen to what is understood. As transparency becomes institutionalised—through mechanisms such as digital product passports (Petrik et al., 2026)—luxury is entering a new temporal phase. Its legitimacy is moving from heritage-based narratives (past) to data-driven verification (present) and toward consumer-defined meaning (future).

This transformation introduces a central paradox: if luxury exposes everything—every supply chain, every artisan’s hand—does it risk becoming a mere expensive commodity? Or does radical transparency reveal a deeper form of value: the uniquely human element that no algorithm can replicate?

Thus, luxury is shifting from visibility to literacy. However, this democratisation of information also creates new forms of exclusivity: the ability to interpret that information, which demands a certain level of education and cultural understanding that not everyone possesses. In this context, luxury’s gatekeeping mechanisms may shift from economic to intellectual and cultural capital.

This panel brings together leading voices in luxury strategies, value chain transparency, sustainability, and business model innovation to explore the following:

· How luxury brands navigate the tension between mystique and transparency

· Whether verification systems enhance or diminish luxury’s emotional power

· What new forms of authenticity emerge when consumers become co-creators of meaning?

· How emerging technologies (blockchain, AI, DPPs) reshape luxury’s truth claims

· Whether the industry can reconcile proof with wonder—and who ultimately defines what counts as truth.

Dr Dusica Lehmann is a Swiss-based luxury strategist and researcher whose work explores
one of the most compelling questions facing luxury today: how can brands preserve
desirability and exclusivity while embracing a future built on transparency and verifiable
accountability?
Originally trained as an economist, she brings more than two decades of professional
experience spanning consulting, international development, and economic projects. She
entered the luxury sector through the luxury watch segment. What began with the Swiss
watch industry became a broader exploration of how value is created, protected, and
communicated throughout the luxury value chain.
Today, she speaks and moderates internationally, bringing together executives, entrepreneurs,
researchers, and creatives to explore the ideas shaping the future of luxury through informed
dialogue and interdisciplinary perspectives.

Born in Switzerland in 1985 into a family of merchants with a keen eye for fine objects — his father a coffee trader, his mother an antique dealer — Olivier Gaud grew up near Geneva, on the shores of Lake Geneva.
After studying commodities trading at the Haute École de Gestion, he discovered his true passion for watchmaking around age 20, shaped by a pivotal encounter with Philippe Cantin. He spent over seven years at Christie’s, first as a viewing assistant before being promoted to head of the viewing assistants’ team, and at Apple, all while training every Tuesday evening at Philippe Cantin’s workshop, where Cantin taught him everything about the craft. 
In 2016, a family milestone took him to London to join Cartier, before he returned to Geneva to work at Vacheron Constantin’s international after-sales service, then at Cartier as coordinator for the Swiss market. 
In 2021, he founded OLIGO, his own eco-conscious watch brand known for its signature floating-hands effect. He also collaborates with Olivier and Dominique Vaucher on TAOS, an independent brand project centered on Métiers d’Art, officially launched in March 2024.

Nathalie Morrison is the founder of Astrea, a luxury jewellery house redefining fine jewellery for a new generation through innovation, exceptional craftsmanship, and sustainability. Passionate about modern luxury, she is committed to honouring the heritage of diamonds while embracing progressive values and responsible practices.

Before founding Astrea, Nathalie built a distinguished career in finance, holding senior roles at Coutts & Co. and Lazard. She later established two successful wealth management businesses, both acquired by private equity, earning recognition as an accomplished entrepreneur and business leader.

Her time in Saint-Émilion, where she was involved in winemaking, deepened her appreciation for heritage, craftsmanship, and excellence. A dedicated philanthropist, she has long supported Sumbandila, a South African educational charity, championing the transformative power of education.

At the heart of her vision is a belief that luxury should have purpose, empowering women, fostering meaningful connections, and creating a lasting legacy inspired by her four children.

Danièla Dufour is a French-Swiss watchmaker of Cameroonian heritage, working alongside her
father, Philippe Dufour, a leading figure in independent fine watchmaking. At Philippe Dufour
SA, she works at the bench through an artisanal approach combining the finest tools, machines
and expertise developed across generations, selecting the best that each decade has contributed
to watchmaking.
As a member of the Académie du Grand Prix d’Horlogerie de Genève, she represents a new
generation committed to preserving traditional craftsmanship while reflecting on the future of
haute horlogerie.
She is also Director and Treasurer of the Philippe & Elisabeth Dufour Foundation. Established
in autumn 2023, the Foundation leads at least thirteen projects internationally and organises a
biennial charity watch auction with the PHILLIPS auction house. Its work spans healthcare,
new-generation prosthetics, protected living solutions for older people, humanitarian support,
education, and the transmission of artisanal watchmaking expertise.