Recently in Las Vegas, hundreds of top watch and jewelry brands came together for the JCK and Couture exhibitions. It is an annual event that brings thousands of retailers and press to Sin City. One of the highlights this year was the introduction by the Couture Show of the new CoutureTime exhibition. That show was held in the ballrooms of Encore Resort, attached to the Wynn resort where the Couture show takes place. To celebrate the inauguration of CoutureTime, Steve Wynn took center stage as the keynote speaker at an opening breakfast. There, he talked about being in the luxury business, how to find and train employees and more.
For a full look at his plans for Las Vegas Wynn and Encore properties, take a look at our Perfect Timing column on Forbes.com. However, Wynn also spoke at length about the luxury jewelry and watch industries — even quipping that the new CoutureTime show was like a new baby to a long marriage. In fact, the Couture Show was the first group to occupy all of the ballroom space at the Wynn when it was first completed, and now, the CoutureTime exhibition is the first to take up all of the Encore ballroom space, as well.
Wynn’s 30-minute speech encompassed his view on how jewelers and resorts are in the same business, his advise on hiring, and how luxury is more about the experience for the customer than it is for the product and pricing. He pointed to waiters and service staff in the back of the room and noted that the key to success is hiring people-lovers to being with.
“We spend more time on finding the right person before we even worry about the training,” said Wynn. ” Keeping customers is about the experience, and the employees control the culture and temperature of the business. We recruit our people for personality first and foremost. After that, anyone can learn the job.This is what you need to do in a luxury business, look for people who will like being there every day.”
Wynn also said that jewelry is a luxury experience from the minute a person opts to buy a piece of jewelry or a fine timepiece, through the buying process and long after. He noted that since customers always have a choice, retailers have to continually offer service, and remarkable products.