Digital Social Hour - Episode: Secrets to Scaling a Global Luxury Business | Dimitry Toukhcher DSH #1363

Release Date: May 5, 2025

In this compelling episode of Digital Social Hour, host Sean Kelly engages in an insightful dialogue with Dimitry Toukhcher, the visionary behind LG FG Fashion House. The conversation delves deep into the intricacies of building and scaling a global luxury business, exploring Dimitry’s unique approach, personal experiences, and the psychological underpinnings that drive customer loyalty and business success.

1. Bridging Traditional and Online Luxury Retail

Dimitry Toukhcher opens the discussion by addressing the gap between traditional brick-and-mortar luxury retailers and online platforms. He explains how affluent customers prioritize convenience and personalized service, which traditional stores often fail to provide.

[00:37] Dimitry: "There’s actually a gap in the market between traditional retailers and online retailers. Affluent audiences pay to have their time needs solved. They want things fast and convenient."

He highlights the challenges luxury brands face in online selling, citing examples like Nordstrom and Burberry, which struggle to deliver the bespoke service demanded by high-end clients.

2. Direct Sales and Personalized Service

Dimitry introduces LG FG Fashion House as a direct sales company where tailors provide personalized services by visiting clients' homes and offices globally. This approach addresses the shortcomings of online luxury sales by offering the high-touch service that wealthy customers expect.

[01:35] Dimitry: "We’re a direct sales company. Our tailors come to our clients in their homes and offices around the world."

3. Building a High-End Clientele

Sean commends the impressive roster of clients, including Ozzy Osbourne, Tommy Fury, Jordan Peterson, Eddie Hall, and Greg Duchett. Dimitry shares a humorous anecdote about meeting Greg during a flight to Saudi Arabia for a boxing match.

[02:32] Dimitry: "That sounds insane. Yeah, collapsed lung is one of the most painful things."

This story underscores the resilience and dedication of their clients, epitomizing the brand’s commitment to excellence.

4. The Importance of Quality and Subtle Status Cues

The conversation shifts to the discernment of quality in suits. Dimitry emphasizes that women are particularly adept at identifying the subtle cues of quality and status in men's attire, which reinforces the brand's focus on producing high-end, meticulously crafted suits.

[04:14] Dimitry: "Women have a different sense not only for clothing but just like status in general."

5. Customer Loyalty and the Psychology Behind It

Dimitry reveals that 80% of LG FG Fashion House’s revenue comes from repeat customers. He attributes this loyalty to the inherent trust and commitment men have towards their preferred service providers.

[08:27] Dimitry: "Men are surprisingly sticky consumers. They’re very loyal."

This insight highlights the importance of building strong, trust-based relationships with clients to sustain long-term business growth.

6. Personal Development and Integrity in Business

Both hosts discuss the significance of integrity and character in business. Dimitry shares his journey of overcoming jealousy and resentment from his university days by consciously reframing his mindset to respect and learn from those ahead of him.

[24:53] Dimitry: "I would really intentionally mentally conditioned myself to adore and respect people that were ahead of me."

He underscores that maintaining integrity and keeping promises are fundamental to building a reputable and trustworthy brand.

7. Scaling the Company Organically

Dimitry recounts how LG FG Fashion House expanded to 26 countries organically, driven by employees’ personal aspirations rather than a pre-defined strategy. This organic growth allowed the company to adapt naturally to different markets.

[17:12] Dimitry: "We opened an office in Hong Kong and it became our best office, just like that."

8. Execution Over Strategy

A pivotal point in the conversation is the emphasis on execution over strategy. Dimitry asserts that while strategies are important, the ability to execute effectively determines the success of a business.

[19:39] Dimitry: "Execution is way more important than strategy."

9. Overcoming Personal Challenges and Transformation

Dimitry reflects on his personal transformation from a university student struggling socially to a confident business leader. He attributes this change to his decision to step out of his comfort zone by selling door-to-door, which honed his communication skills and built his discipline.

[22:30] Dimitry: "It gave me control over my environment."

This segment offers inspiration for listeners on the importance of personal growth and adaptability in achieving professional success.

10. Networking and the Power of Associations

The duo discusses the critical role of networking in scaling a business. Dimitry shares experiences of meeting influential clients and leveraging these relationships to enhance brand visibility.

[29:50] Dimitry: "They’ll walk through a wall if they have to. They’re absolutely infallible."

11. Future Plans and Balancing Business with Family

Towards the end, Dimitry expresses excitement about expanding his team and balancing business growth with family life. He emphasizes the importance of hiring dedicated salespeople to meet increasing demand and maintain the brand’s high standards.

[35:01] Dimitry: "I’m really excited to hire more people to impact people's lives."

12. Closing Thoughts: Investing in Relationships and Personal Integrity

In conclusion, Dimitry and Sean reinforce the idea that success stems from building strong relationships, maintaining integrity, and continuously executing on one’s vision. They encourage listeners to invest in themselves and their networks to achieve sustainable success.

Notable Quotes with Timestamps

• Dimitry (00:37): "Affluent audiences pay to have their time needs solved. They want things fast and convenient."
• Dimitry (01:35): "We’re a direct sales company. Our tailors come to our clients in their homes and offices around the world."
• Dimitry (04:14): "Women have a different sense not only for clothing but just like status in general."
• Dimitry (08:27): "Men are surprisingly sticky consumers. They’re very loyal."
• Dimitry (19:39): "Execution is way more important than strategy."
• Dimitry (24:53): "I would really intentionally mentally conditioned myself to adore and respect people that were ahead of me."
• Dimitry (35:01): "I’m really excited to hire more people to impact people's lives."

Key Takeaways

1. Personalized Service is Crucial: In the luxury market, providing personalized and convenient services can bridge the gap between traditional retail and online shopping, catering to the specific needs of affluent clients.

2. Customer Loyalty is Powerful: Building trust and maintaining integrity fosters strong customer loyalty, which is essential for sustained revenue growth.

3. Execute with Integrity: While having a strategy is important, the ability to execute consistently and with integrity is what truly drives business success.

4. Networking and Relationships Matter: Establishing and nurturing relationships with influential clients and partners can significantly enhance brand visibility and open doors to new opportunities.

5. Personal Growth Fuels Professional Success: Overcoming personal challenges and continuously developing one’s skills are integral to leading a successful business.

6. Balancing Business with Personal Life: Achieving a balance between expanding a business and nurturing personal relationships, such as family, contributes to long-term fulfillment and stability.

Conclusion

This episode of Digital Social Hour offers a deep dive into the strategies and philosophies that underpin the success of a global luxury business. Dimitry Toukhcher’s experiences and insights provide valuable lessons on customer loyalty, personal development, execution, and the importance of integrity in business. Whether you're an aspiring entrepreneur or simply interested in the dynamics of luxury markets, this conversation is both enlightening and inspiring.

For more insights and to explore opportunities with LG FG Fashion House, visit their website lgfgfashion.com and follow their journey toward redefining luxury retail.