Look beyond the luxury industry. A few decades ago, people predicted that the internet boom would destroy traditional publishing houses, newspapers, magazines and books. They still make good money today. Alternatively, take the music industry. MP3 music files have become most important for the industry and are only a problem for traditional music publishers, which did not adapt fast enough to the new demands.

We can also transfer this pattern to our industry. Traditional retail channels will still be required to build brand awareness along with innovative online channels. The most important thing for any brand is to remain flexible, stay abreast of trends and adapt quickly to new requirements and standards.

For many years, the luxury industry presented itself in an opulent, lavish and pompous way. Those times are long gone and we are seeing a shift in customer expectations. People nowadays demand authenticity, sustainability and no furore. Demonstrative luxury is a dead duck. For Porsche Design it never existed. As the world of luxury changes, our products and brand will take the spotlight.

In our ideal Porsche Design world, the whole object has to be considered within its functionality, with form and function taking equal significance. One does not work without the other. In saying this though, one also doesn't follow the other. A truly good product has to fulfil both aspects in order to become a long-term success: aesthetics and function.

To focus on our heritage. From 2003 to 2007, the company tried to position itself as a 'men only' brand. However, back in 1977 the initial sketch of our legendary aviator shades had been drafted on a female face. Women's watches and accessories followed. Just think of the legendary sports shield which has become iconic because Yoko Ono wore them all the time. Therefore, in 2010 we decided to again offer Porsche Design to our female customers, with products dedicated solely to their purposes and style.