I stumbled upon Business of Fashion podcast episode where Imran Ahmed interviewed Leena Nair, Chanel’s current Chief Executive Officer (CEO). She is the first Asian female CEO of the French luxury brand. I start studying about her background, forte, and how she succeeded to where she is today. I am intrigued to see that Leena’s appointment sparks some doubts in the luxury sector and especially Fortune 500 companies. Why? Because she is one of those leaders who make the impossibles possible.
Financial Times published about a third of FTSE 100 CEOs have previously served as CFOs, up from 21 per cent in 2019. This seems like Chief Financial Officer (CFO) is usually the next in line for CEO position. Leena Nair, on the other hand had 3 decades of esteemed Human Resource leadership and management experiences at Unilever. Someone whose forte isn’t Finance makes me think if Chanel has chosen to be more people-centric than profit-centric organisation. Not surprising possibility considering Chanel products are essentially handmade where craftsmanship and human story-telling are the heart of their business.
Luxury industry has always been known for its heritage, snobbishness, rigidity, timeless, uniqueness and introversion. A complete polarity from the Fast Moving Consumer Goods (FMCG) industry. For Leena who comes from FMCG background, the luxury industry is a different ball game altogether. Or is there a possibility she is expected to bring a whole new perspective into Chanel world? Perhaps Chanel aspires to be a more approachable brand in the future?
“Only 1 in 25 of CEOs in Britain’s largest publicly listed companies are women” according to Skynews. The headline itself is self-explanatory. Gender and race equality debate are still on-going as we speak let alone the minor female representation in CEO positions. Leena, the first Asian female CEO for one of the top 3 luxury brands in the world has of course raised many eyebrows. What could be Chanel’s agenda? Is it a strategic move to showcase inclusiveness or an approach to change Asian perception towards the brand? Perhaps the brand truly shares the same sustainability vision as Leena.
Why is it important to know? Because the above which seemed far-reaching in the past are possible today. Leena has made the impossibles possible. This means for ambitious working class women like me and younger female generation have hope to dream big. It is also not too late for luxury enthusiasts to set foot in the luxury world just because they come from a completely different world. More importantly, I do not have to be a CFO to be a CEO.
Photo by Randy Tarampi
