Desirability is the new Margin - from Paris 🇫🇷

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Desirability Is the New Margin is the podcast where luxury, culture, and business strategy converge. Broadcasting from Paris, each episode unpacks the hidden forces shaping global taste, from LVMH and Hermès to Vogue and Nike. Seasoned voices in culture and strategy go beyond quarterly results to explore why desirability, not scale, is the new driver of growth, power, and cultural capital. With insights drawn from boardrooms, runways, and culture, this is essential listening for executives, investors, and decision-makers who want to understand how narrative, myth, storytelling and soft power are redefining business in the 21st century.

  1. The Last Mile of Culture: Bezos, Vogue, and the Biggest Power Grab of the Decade

    16 AUG

    The Last Mile of Culture: Bezos, Vogue, and the Biggest Power Grab of the Decade

    What happens when the man who mastered the last mile of commerce sets his sights on the last mile of culture? In this episode, we unpack Jeff Bezos’s rumored bid for Condé Nast and Vogue, not as a trophy purchase, but as what Marc Abergel, luxury executive from Paris, calls “the biggest cultural power grab of the decade.” Through the lens of Abergel’s "After Anna: Bezos’ Quest to Redefine Taste, will Luxury Surrender or Rebel?" article, we trace how Vogue has long acted as a cultural nation, defining desire for over a century, and why its potential merger with Amazon’s infrastructure could redraw the boundaries of influence. What’s at stake is nothing less than sovereignty over taste itself. Luxury Maisons: LVMH, Chanel, Hermès, face a stark choice: remain tenants in Bezos’s empire of desire, or reclaim their role as sovereign cultural nations. We explore Abergel’s proposed Sovereign Stack: Embassies, Rituals, Sacred Texts, and Diplomats; as luxury’s blueprint for survival in this looming Cold war for culture. This isn’t just about media or fashion. It’s about whether myth-making, the last true luxury, remains in the hands of Maisons and Brands, or gets folded into Bezos’s algorithmic canon. “Bezos isn’t buying Vogue for its balance sheet. He wants to command the very channel through which meaning itself is delivered, one-click desirability.”“Vogue has acted as a sovereign cultural nation, dictating taste and status for generations.”“If Bezos owns the authority to define desirability, luxury Maisons risk becoming mere vendors inside someone else’s cultural nation of taste, negotiating from occupied territory.”“The canon is the moat. Cultural assets, magazines, archives, foundations - are immune to algorithmic decay.”“In an age where AI can generate taste on demand, human-led myth-making may be the last true luxury.”

    15 min
  2. The Cultural Nation Strikes Back: LVMH Turned Soft Numbers into a Sovereignty Play

    27 JUL

    The Cultural Nation Strikes Back: LVMH Turned Soft Numbers into a Sovereignty Play

    What happens when the world’s largest luxury group posts a soft quarter, yet its stock rallies? In this episode, we unpack Marc Abergel’s provocative article: The Cultural Nation Strikes Back, exploring how LVMH flipped weak financials into a flex of cultural statecraft. From Versailles with a ticker symbol to Olympic myth-making and quiet luxury diplomacy, this isn’t just about handbags: it’s about heritage, narrative power, and the sovereign currency of desire. We break down LVMH’s cultural sovereignty plays over the last few months (Dior, Moët Hennessy Private, the Olympics, and Sephora), and explain why the market might be waking up to a new valuation paradigm: one where legacy outperforms virality, and storytelling is the strategy. If cultural capital is the new margin, LVMH may already be the world’s most powerful organization. “It wasn’t a retreat. It was a sovereignty move.” On how LVMH’s Q2 results weren’t a dip, but a strategic investment in cultural dominance.“Versailles with a ticker symbol: where heritage commands.” Abergel’s thesis in one bold line.“LVMH doesn’t follow eras. It defies them.” Reframing time, relevance, and taste as levers of power.“Cultural Sovereignty is the new margin.” A new KPI for luxury: not just profit, but narrative control.“While others make noise, LVMH is defining taste.” On why quiet luxury, myth, and legacy trump trend-chasing.

    16 min
  3. LVMH Was Never a Conglomerate: It’s a Cultural Nation

    22 JUL

    LVMH Was Never a Conglomerate: It’s a Cultural Nation

    In this powerful episode of The Deep Dive, Marc Abergel, luxury executive based in Paris, reframes the entire conversation around LVMH. Against a wave of criticism painting the group as a bloated, overstretched conglomerate, most notably Bloomberg’s June 2025 piece. Abergel offers a sharp, compelling counter-narrative: LVMH is not a conglomerate in crisis; it is a cultural nation by design. Bernard Arnault is positioned not as a CEO struggling with scale, but as a maestro of meaning, orchestrating a federation of Maisons with cultural stewardship, not corporate consolidation. Through this lens, Fendi, Sephora, Tiffany, Loro Piana, and even Rimowa emerge not as scattered assets, but as curated instruments in a long-term symphony of desire. The podcast argues that LVMH’s true moat isn’t market share or real estate, it's narrative control. Each Maison is positioned as a cultural force, not a commodity. The so-called “succession drama” described by Bloomberg becomes, in Abergel’s view, a generational design: five heirs anchoring a republic of savoir-faire, not battling for a crown. The episode challenges luxury leaders to rethink value creation, not in terms of quarterly earnings or digital scale, but through the emotional ROI of legacy, story, and reverence. What if the next great luxury innovation isn’t product, but cultural sovereignty. “LVMH was never a conglomerate, it’s a federation of cultural institutions, stewarded with creativity and long-term conviction.”“What Bloomberg sees as bloat, Abergel sees as orchestration, sometimes messy, always intentional.”“Arnault isn’t managing a portfolio, he’s curating desire.”“The true advantage of LVMH isn’t property or products. It’s narrative control.”“You’re not witnessing a monarchy in crisis, you’re witnessing a republic of culture and savoir-faire preparing for its next era.”

    15 min
  4. Dior’s Billion Views: A Warning for Luxury.

    9 JUL

    Dior’s Billion Views: A Warning for Luxury.

    What if the most impressive fashion stat of the year: Dior Men’s Summer 2026 film hitting ONE BILLION views isn't a victory, but a strategic red flag? In this provocative episode, Marc Abergel, luxury executive based in Paris, unpacks why mass visibility might be eroding the very thing that makes luxury… luxury. Through his concept of cultural sovereignty, Abergel argues that the race for virality dilutes the aura, mystique, and reverence that historically made luxury Maisons like Dior, Vuitton, Chanel, Rolex or Hermès, truly desirable. Referencing Jonathan Anderson’s beautifully choreographed runway as a "ritual of intimacy", the episode explores the tension between authorship and algorithms, scale and meaning, speed and sequence. Abergel proposes a new paradigm for luxury storytelling: one that goes vertical, not viral: beginning with the most loyal clients in sacred, intimate spaces before broadcasting to the world. From fashion to tech to art, this is a blueprint for reclaiming narrative control in a noisy, flattened digital world. “The billion views weren’t the objective. They were the echo of a cultural shift.”“Luxury at its best is about story revealed, not dumped. Whispered to the few before it echoes to the many.”“We’ve mistaken views for relevance, and scale for success.”“If you buy Dior at Dior, you should watch Dior at Dior.”“The future isn’t more reach. It’s deeper resonance.”"LVMH and its peers have the means to outsmart Big Tech's algorithm"Read us at http://marcinparis.substack.com

    13 min
  5. After Anna: The Succession Blueprint for Vogue

    3 JUL

    After Anna: The Succession Blueprint for Vogue

    What happens when the most influential figure in modern fashion steps down? Drawing on insights from Marc Abergel's article, we explore why Anna Wintour’s eventual departure from Vogue is not a mere editorial change: it’s a civilizational moment. We dive deep into the symbolic, strategic, and mythic dimensions of succession at Vogue. More than just a magazine, Vogue is portrayed as a Ministry of Culture, an institution responsible for shaping collective taste, aspiration, and style. The podcast breaks down the four essential powers required for Vogue's next editor-in-chief and examines eight potential successors, not merely as candidates but as archetypes, each representing a radically different future for fashion and culture. They are: Ava Duvernay, Edward Enninful, Ruth E. Carter, Phoebe Philo, Michaela Coel, Pharrell Williams, Kim Jones and Daniel Roseberry. For leaders across the luxury and media industries, this episode offers a rare lens on how cultural authority is crafted, maintained, and potentially lost. "This isn’t just a vacancy. It’s a vacuum — a sudden stillness in the cultural stratosphere.""The next editor-in-chief has to preside, not just post. Without that gravity, even beautiful images become content clutter.""Vogue's next leader isn’t just an editor — they are a Minister of Cultural Affairs.""In a world fighting for attention, sometimes silence is the loudest form of authorship.""We don’t just need a new Anna. We need the next sovereign of style."

    17 min
  6. Directed by Anderson, Dior’s Cultural Comeback. Dior's debut reimagines fashion as authorship: cinematic, symbolic, choreographed and scripted with cultural intent

    29 JUN

    Directed by Anderson, Dior’s Cultural Comeback. Dior's debut reimagines fashion as authorship: cinematic, symbolic, choreographed and scripted with cultural intent

    In this episode, we unpack an analysis by Marc Abergel, luxury executive from Paris to discuss how Jonathan Anderson’s arrival at Dior Men isn’t just a change in creative direction, it’s a cinematic coup. With his debut collection, Anderson reframes Dior not as a heritage brand but as a storytelling studio, capable of choreographing emotional gravity, visual drama, and global relevance.We explore how his approach taps into luxury’s deeper mission: to not just make fashion, but to shape cultural mythologies. If LVMH made Dior global, Anderson might make it eternal. “Anderson doesn’t design clothes. He directs scenes.”“This wasn’t a runway. It was a cinematic portal: Paris turned into a dreamscape.”“Dior’s comeback isn’t about louder logos. It’s about reclaiming cultural authorship.”“Luxury brands don’t just need storytellers. They need myth-makers. Anderson gets that.”“Where most brands chase the algorithm, Dior under Anderson is chasing emotional resonance.” Title: Directed by Anderson, Dior’s Cultural Comeback. Dior's debut reimagines fashion as authorship: cinematic, symbolic, choreographed and scripted with cultural intent LVMH DIOR ANDERSON

    14 min
  7. After Anna : How Vogue Can Remain The Custodian of Style In The Next Era

    28 JUN

    After Anna : How Vogue Can Remain The Custodian of Style In The Next Era

    What happens when the most powerful woman in fashion steps down?In this episode, we deep-dive into Marc Abergel's analysis and unpack the cultural vacuum left by Anna Wintour’s departure from Vogue, and what’s truly at stake: not just a job, but the role of custodian of global style.Who will inherit the crown - and should anyone? We explore the symbolic weight of Vogue’s top seat, the rise of decentralized tastemaking, and why the next editor must move beyond red carpets and cover shoots to reclaim narrative sovereignty in the algorithm age. It's not just fashion, it’s power, perception, and who gets to define the world’s aesthetic compass. “Anna wasn’t just editing a magazine, she was editing the culture.”“The question isn’t who’s next. It’s what Vogue should be next.”“If platforms own the distribution, Vogue must own the desire.”“The editor-in-chief role is no longer about taste, it’s about sovereignty.”“Whoever steps in must know: you’re not just dressing celebrities, you’re dressing civilization.”

    12 min
  8. How F1 Transformed from Sport to Cultural Force through Storytelling, Digital Sovereignty and Smart Partnerships

    15 JUN

    How F1 Transformed from Sport to Cultural Force through Storytelling, Digital Sovereignty and Smart Partnerships

    What made Formula 1 go from elite motorsport to global entertainment juggernaut? In just under 11 minutes, this episode unpacks F1’s explosive growth: driven not by faster cars, but by smarter storytelling. From Netflix’s Drive to Survive to high-octane brand partnerships with giants like Disney, LEGO, Louis Vuitton, Tag, Moet, LVMH - F1 has reinvented itself as a cultural property, rivalling the NFL and NBA in reach and relevance. We explore how the sport has become a masterclass in narrative branding, content-driven fan engagement, and entertainment-led expansion - what we call Cultural Sovereignty. Whether you're a marketer, brand leader, or just a culture geek, this is your pit stop for insight. “Formula 1 didn’t just get louder, it got smarter.”“Drive to Survive didn’t change the sport. It revealed the drama that was always there.”“F1 is no longer just a race, it’s a serialized global narrative with brand partners as co-authors.”“The partnership with Netflix wasn’t just media, it was myth-making.”“What F1 teaches us is that performance alone doesn’t create value, storytelling does.”

    11 min
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About

Desirability Is the New Margin is the podcast where luxury, culture, and business strategy converge. Broadcasting from Paris, each episode unpacks the hidden forces shaping global taste, from LVMH and Hermès to Vogue and Nike. Seasoned voices in culture and strategy go beyond quarterly results to explore why desirability, not scale, is the new driver of growth, power, and cultural capital. With insights drawn from boardrooms, runways, and culture, this is essential listening for executives, investors, and decision-makers who want to understand how narrative, myth, storytelling and soft power are redefining business in the 21st century.

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