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A DEVELOPMENT PLAN FOR

EXCLUSIVE EVENTS AT DISNEYLAND PARIS WITH A TARGETED FOCUS ON

HNWI IN RUSSIA, KAZAKHSTAN AND AZERBAIJAN

By:    

ATTANAYAKE  Lahiru  BUENAVENTURA  Chlyde  

WILKINSON  Emma  YI  Ni      

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CONTENTS

EXECUTIVE SUMMARY ...................................................... 3

1.0 INTRODUCTION ........................................................... 4

2.0 MARKET ANALYSIS ..................................................... 5 2.1 RUSSIA ............................................................................................................................. 5 2.2 KAZAKHSTAN ................................................................................................................ 10 2.3 AZERBAIJAN ................................................................................................................. 12

3.0 CULTURE ANALYSIS .................................................. 16 3.1 DISNEYLAND PARIS AS A DESTINATION .................................................................. 16 3.2 SYNERGIES .................................................................................................................... 18

4.0 SWOT ........................................................................ 21

5.0 ACTION PLAN ............................................................ 22 5.1 EVENTS SHOWING LOW POTENTIAL ......................................................................... 22 5.2 PRODUCTS TO DELIVER .............................................................................................. 24

5.2.1 WEDDINGS .............................................................................................................. 24 5.2.2 BACHELORETTE PARTIES .................................................................................... 29 5.2.3 DEBUTANTE BALL .................................................................................................. 30 5.2.4 GRADUATION .......................................................................................................... 33 5.2.5 BAR/BAT MITZVAH ................................................................................................. 35

5.3 KEY SUCCESS FACTORS ............................................................................................ 37 5.4 HOW TO REACH THE TARGET MARKET .................................................................... 41

5.4.1 LUXURY FAIRS ....................................................................................................... 41 5.4.2 SILVER RAIN RADIO ............................................................................................... 42 5.4.3 LUXURY EVENT AGENCIES .................................................................................. 42 5.4.4 WEDDINGS .............................................................................................................. 43 5.4.5 DEBUTANTE ............................................................................................................ 44 5.4.6 GRADUATION .......................................................................................................... 44

5.5 PRESENTING AND DELIVERING THE PRODUCTS .................................................... 45 5.5.1 TOOLS TO CAPTIVATE THE MARKET .................................................................. 45 5.5.2 PROPOSAL PRESENTATION TO CLIENTS ........................................................... 48

6.0 RECOMMENDATION ................................................... 51

7.0 CONCLUSION ............................................................ 54

8.0 APPENDIX ................................................................. 56 8.1 APPENDIX 1 ................................................................................................................... 56 8.2 TRANSCRIPT 1 .............................................................................................................. 58 8.3 TRANSCRIPT 2 .............................................................................................................. 60 8.4 TRANSCRIPT 3 .............................................................................................................. 62 8.5 TRANSCRIPT 4 .............................................................................................................. 65

9.0 REFERENCES ............................................................ 68

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EXECUTIVE SUMMARY This report investigates the HNWI markets in Russia, Kazakhstan and Azerbaijan as potential target markets for Disney Business Solutions Exclusive Events. The market research shows that Russia is a booming HNWI market, with over 160,000 HNWI recorded in Russia in 2014 and a predicted growth of 45.7% between 2014 – 2019. Kazakhstan and Azerbaijan have much smaller HNWI communities, with 6,680 HNWI and 5,500 HNWI respectively. Furthermore, evidence was collected for the trend of lavish parties in Russia, including destination events. No such evidence could be found for Kazakhstan and Azerbaijan’s HNWI. Therefore, the development plan presented in this report is dedicated to the Russian HNWI community, as Kazakhstan and Azerbaijan show much less potential. Russian HNWI show interest in all things luxury: cars, yachts, diamonds and exclusive destinations. Russian HNWI also show an affinity for France and Paris, notably the royal splendour and luxury fashion items. Their top expectations are: quality, exclusivity, uniqueness, VIP status, personalisation and privacy. The event that shows the most potential as a destination event for Russian HNWI is weddings, with examples being given in the report of Russian HNWI hosting their lavish wedding celebrations outside of Russia. Furthermore, potential is also evidenced for debutante balls, graduation parties, bachelorette parties and bar/bat mitzvahs (due to 25% of Russian HNWI being Jewish) as exclusive events that Russian HNWI show interest in hosting as lavish destination events. In order to penetrate the market, it is recommended that Disney Business Solutions use several channels. These include luxury events agencies, globally renowned wedding planners, luxury B2B and B2C fairs hosted in Moscow annually, debutante ball organisers and Silver Rain Radio events. Research suggests that the key factors necessary to succeed include trust from the client, ensuring an exclusive/private event, the client’s affinity to Disney, strong relationships with access channels, positive word of mouth and strong communication between Disney Business Solutions and the target market. In order to succeed in communicating clearly and thus creating trust, Disney Business Solutions must use creative techniques to communicate the offerings, especially using video in order to establish emotional connections and avoid language barrier problems that many Russian HNWI experience due to their lack of English or French skills. The report concludes that by using the correct access channels, by meeting – and surpassing - Russian HNWIs expectations and continually considering the key factors, exclusive events at Disneyland Paris have huge success potential with the Russian HNWI market.

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1.0 INTRODUCTION This report will provide research into the Hight Net Worth Individual markets in Russia, Kazakhstan and Azerbaijan. A ‘high net worth individual’ is defined as someone who has over $1 million in investible assets (Shields, 2012). This should be distinguished from ‘affluent’ people, who may be deemed ‘rich’ but may not meet the $1 million mark. A further category called ‘ultra high net worth individuals’ (UHNWI) refers to individuals with a net worth of more than $30 million (Pow, 2016). Using the research carried out into these target markets, a development plan will be created in order to establish which exclusive events would have the highest success rates in these markets, what access channels to use in order to penetrate the market and how to deliver the products to best match the market’s expectations. This report will provide detailed insights into the profile of the HNWI, their interests and expectations, their tendencies towards ‘destination events’, their current event trends and the best channels available in order to reach the HNWI. Furthermore, insights will be provided into how Disneyland Paris can match these expectations and tendencies with their offerings of exclusive events, in order to successfully establish themselves as a destination venue within the Russian HNWI market. At the end of the development plan, clear and detailed recommendations will be given as to how Disney Business Solutions can successfully target and penetrate this market, as well as providing what factors must be considered in order for the development plan to succeed.

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2.0 MARKET ANALYSIS The first section of this report will summarise the key demographics of Russia, Kazakhstan and Azerbaijan in order to ascertain whether these countries make good target markets for private events at Disneyland Paris. Based on the findings (see below), it is recommended that only Russia is pursued as a target market. Research suggests that whilst Kazakhstan and Azerbaijan have growing HNWI populations, this population remains relatively small. Furthermore, no proof has been found that destination events are a trend in these countries, which is important proof needed in order to support the idea that these countries’ HNWI would be open to hosting their private events in Disneyland Paris. Contrastingly, Russia has one of the world’s leading HNWI populations who often spend large amounts of money on private events, including destination events (see case studies later in report).

Key factors of a good market for DLP Russia Kazakhstan Azerbaijan

Large HNWI population þ (160,000)

ý (6,680)

ý (5,500)

Increasing number of HNWI þ þ þ

Spend money on lavish private events þ þ ý

Trend for destination events þ ý ý

Each of these countries will be individually examined and evidence will be provided in order to support the above recommendation.

2.1 RUSSIA WHERE? The target country for the exclusive events discussed in this report is Russia. This is a country with many wealthy residents, representing the second biggest net worth in the world for billionaires after the USA in 2013 (Forbes, 2013) and third biggest in 2016 ($282.6bn), following the USA ($2,399bn) and China ($593bn) (see figure 1) (Forbes, 2016). Moscow is home to the largest proportion of Russia’s UHNWI (64%), with substantial HNWI communities also present in St Petersburg, Yekaterinburg, Novosibirsk,

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Kazan and Kemerovo. However, these cities each represent a much lower percentage of UHNWI than Moscow (Companies and Markets Research, 2012). Figure 1.

(Forbes, 2016) Furthermore, many newly-rich Russian HNWI are moving abroad. London is a particularly popular choice, even being referred to as ‘Londongrad’. In 2012, it was estimated that approximately 150,000 Russian expats live in London (Nicholas, 2014), with over 1,000 of them being Russian millionaires (Companies and Markets Research, 2012). According to Knight Frank, Russians were first on the list of foreign buyers of London homes with a worth of more than £1 million in 2013 (Nicholas, 2014).

WHO? Statistics In 2014, 160,877 HNWI were recorded to live in Russia. This is predicted to increase to over 230,000 HNWI by 2019, and Russian HNWI wealth has been predicted to grow by 45.7% from 2014 to 2019 (Wealth Insight, 2015). As stated above, the majority of these HNWI and UHNWI live in Moscow. In 2015, Moscow was home to 76,100 millionaires, 7,570 multi-millionaires and 3,457 UHNWI. This number of UHNWI in Moscow is set to increase by 73% by 2025. However, St Petersburg looks set to be an upcoming residential area for UHNWI. Currently home to 14,300 millionaires, 960 multi-millionaires and 438 UHNWI, this city is clearly less popular among Russia’s rich than Moscow. However, the number of UHNWI in St Petersburg

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is predicted to increase by 80% by 2025, indicating that this city may also be becoming a popular choice for Russia’s millionaires and billionaires. This predicted increase in UHNWI in Moscow and St Petersburg is much higher than other European cities including Warsaw (64%), Oslo (31%), Madrid (15%), Zurich (11%), London (31%), Vienna (26%) and Paris (14%) (Knight Frank, 2017). This suggests that many newly-rich people reside in Russia, whose fortune will continue to increase, therefore making Russia an ideal target for exclusive events. Based on this data, it is recommended that Moscow and St Petersburg will be the focus points for DLP when reaching Russian HNWI. Profile Russian HNWI tend to be younger than more established markets such as in Western Europe or the US. On average, Russia’s wealthy are approximately 15 years younger than their counterparts in the UK, USA and Germany with an average age of 49 years old for Russian UHNWI. This is a stark contrast to France’s UHNWI, who have an average age of 74 years old (Forbes, 2011). Furthermore, the large majority of HNWI in Russia are male (98%) and are self-made, meaning that they created their own wealth rather than inheriting it; a very different situation to in France, where only 33% are self-made (Forbes, 2011). This means that Russian HNWI have a strong sense of entrepreneurship, especially given that the majority have received degree-level education (Yusufov, 2015) and 93% work full-time (Forbes, 2011). Russia’s principal religion is Russian Orthodox (75% of the general population) (Master Russian, 2015), with only 50 of Russia’s 5,000 religious organisations belonging to Judaism. However, approximately 25% of Russia’s HNWI are Jewish (Eichner, 2014) with a large Jewish community residing in Moscow (The Embassy of the Russian Federation to the United Kingdom of Great Britain and Northern Ireland, 2017), contrasting to the fact that only 1% of the overall population of Russia is Jewish (Master Russian, 2015). WHAT? Needs According to research, Russian HNWI are incredibly status-driven and are extremely aware of how others perceive them. They need to feel successful, and be perceived as successful by others (Ksenofontova, 2013). As discussed above, the majority of the HNWI in Russia work full-time and therefore lead busy lives, which has been described as “very intense: meetings from the morning, solving pressing problems, negotiations” (Ksenofontova, 2013). Thus, they like to spend their free time by

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indulging themselves and their family in a world of “powerful emotions and unknown experiences” (Ksenofontova, 2013). Family plays an important role; in their free time, Russia’s HNWI like to enjoy time with their family and friends (Ksenofontova, 2013). The most frequent family gatherings among Russian HNWI are for events such a birthdays and weddings, closely followed by holidays, including religious celebrations (see figure 2) (Yusufov, 2015). Figure 2.

(Yusufov, 2015) Interests Russian HNWI are interested in showing their wealth, and are a glaring example of a ‘status-seeking’ population. Wealth inequality in Russia is extremely high, meaning that a large proportion of the country’s wealth is in the hands of a small group of the population. This creates a very specific target market for luxury goods, and this group tend to buy extremely expensive luxury goods, without any regard for the price (Godart and Kulikova, 2014). Gijrath, the founder of The Millionaire Fair (to be discussed later in the report) states that Russians “madly love spending money” and are the biggest spenders in comparison to HNWI in Shanghai, Cannes and

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Amsterdam (Kaufmann, Vrontis and Manakova, 2012). This could be an explanation for the infamously extravagant lifestyle of Russian HNWI, who typically enjoy luxury yachts, cars, diamonds, private jets and exclusive destinations such as Monaco (Kaufmann, Vrontis and Manakova, 2012). In particular, one-off pieces are incredibly popular among Russian HNWI, due to their exclusivity and individuality. “The most sought after products were those “ones of a kind” or as parts of limited collections, manufactured by worldwide known craftsmen and made of precious and unique materials. That is why the demand for vintage luxury products was activated in Russia” (Strategia and Sviluppo Consultants, 2015). There is also a visible trend among HNWI in Russia towards property purchase, with particular interest in properties in London, England. For some, this may simply be an investment, but other newly-rich HNWI are interested in relocating to London (as discussed earlier) due to its reputation as a city of class and style (Moss, 2014). Interestingly, often “nostalgia plays an important role for luxury consumption among Russian wealthy people” (Ksenofontova, 2013). There is a longing for time lost, in particular for royal splendour. However, they also display a high interest in the knowledge of other cultures (Ksenofontova, 2013). Expectations Quality is an important expectation of Russian HNWI for luxury events. “According to luxury tourism specialists, high quality standards and top services offered is what describes luxury tourism best of all; thus, this is what their customers expect the most” (Ksenofontova, 2013). Research shows that other principal expectations of Russian HNWI are exclusivity, uniqueness and an expensive price (Ksenofontova, 2013). Furthermore, they have expressed the expectation of a VIP status and a high level of personalisation; they “would like to get a greater level of privacy and custom-tailored products and services” (Ksenofontova, 2013: p47) RECOMMENDATIONS Based on the research provided above, it is clear that Russia is not only home to a large population of HNWI, but also that this population will continue to grow in the coming decade. Given that Russian HNWI tend to be younger than their peers in other countries, this increases the number opportunities for private events with Russian HNWI clientele as they tend to still be in their late 40s, therefore they may also have millennial or generation Z children. Furthermore, the key interests and expectations of Russia’s HNWI have been identified, all of which are achievable at Disneyland Paris. Therefore, it is recommended that Disney Business Solutions target Russian HNWI as potential clientele for their exclusive events.

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2.2 KAZAKHSTAN WHERE? Another potential target country that will be discussed in this essay is Kazakhstan. Kazakhstan is a Central Asian state, whose capital city is now Astana, which had a population of approximately 759,000 in 2015 (U.S. Department of State, 2017). Previously the capital was Almaty, the country’s biggest city (Fraser, 2017) which had a population of 1.5 million in 2015, almost double the population of Kazakhstan’s capital (U.S. Department of State, 2017). Kazakhstan is a majority Muslim country (70%), with an economy that is larger than most other Central Asian states due to the country’s vast natural resources. (Cia.gov, 2017) Current GDP is $184.4 Billion (Worldbank.org, 2017), with a per capita income of $10,510 in 2015 (Knight Frank, 2016). Many people who live in Kazakhstan originate from elsewhere, such as Russia (23.7% in 2009) or Ukraine (2.1% in 2009) (U.S. Department of State, 2017). The official language is Kazakh, however Russian is often used in everyday business and is understood by approximately 94.4% of the population according to 2009 data (U.S. Department of State, 2017). WHO? The World Wealth Report 2016 states that in 2015, Kazakhstan was home to 6,200 millionaires, 480 multi-millionaires, 207 UHNWI ($30m+), 27 centa-millionaires and 3 billionaires (Knight Frank, 2017). The number of UHNWI in Kazakhstan is rapidly increasing; between 2005 to 2015, this increased by 270% and it is set to keep increasing by a further 80% by 2025 (Knight Frank, 2017). According to research carried out in 2014, Kazakhstan’s 50 richest inhabitants have a combined wealth of $23.3 billion (Tengiri News, 2017). As can be seen in Figure 3, this is substantially smaller than their counterparts in neighbouring Russia. Based on the profiles of the 50 richest people in Kazakhstan, it can be estimated that the majority of the HNWI are men (approximately 90%), with an age range of 32 to 67 years old. The majority are Muslim, with a few identifying as Russian Orthodox (Visual.ly,2017) and they tend to live in the country’s biggest city, Almaty (Forbes.com, 2017).

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Figure 3.

(Visual.ly,2017) WHAT? The interests of Kazakhstan’s HNWI include expensive jewellery, luxury spas (EurasiaNet.org, 2017), and travelling around the world (Holiday, 2017). These interests are often displayed for peers and for the rest of the world to see, especially through social media when it comes to the millennials, in order to show their wealth (Holiday, 2017). Nowadays, Kazakhstan’s HNWI are spending more to ensure that they have the best event possible, especially for weddings. There is a trend to have the most famous singers in the world perform at their weddings, such as at the wedding of the Nazarbayev family who paid $3 million for their wedding entertainment, including performances from Kanye West (BuzzFeed, 2017). RECOMMENDATIONS Whilst a potential HNWI market exists in Kazakhstan, it is evidently much smaller than that of Russia. As discussed above, Kazakhstan’s HNWI are starting to spend a large amount of money in order to host the most extravagant events, but this is a relatively new phenomenon. Furthermore, no evidence has been found to suggest that the HNWI are interested in organising ‘destination events’, unlike in Russia where we witness the emerging trend of ‘destination weddings’. Therefore, it may be

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too soon to target Kazakhstan’s HNWI at the present time. In the future, we may see a trend for destination events emerge in Kazakhstan (for example in 5 or 10 years), when the HNWI start to follow the trends currently taking place in Russia, which would be the time to think about Kazakhstan as a potential target market for DLP exclusive events.

2.3 AZERBAIJAN WHERE?

Azerbaijan, with Baku as the capital city, is the largest country in the Caucasus region located at the crossroads of Western Asia and Eastern Europe. The religions present are: Muslim 96.9% (predominantly Shia), Christian 3%, other 0.1, unaffiliated (CIA, 2016).

The Gross Domestic Product (GDP) of Azerbaijan was worth 53.05 billion US dollars in 2015. They contribute 0.09 percent GDP value in the world economy (Trading Economics, 2017). According to the forecast of the Azerbaijan’s deputy minister of economy, Sevinj Hasanova, the growth rate of Azerbaijan’s GDP is projected at over 2 percent per year for the next three years.

WHO?

As the New World Wealth reports, Azerbaijan achieved a staggering 444% growth in the population of UNHWI since 2005. The number of millionaires (have wealth of more than $1 million) increased from 1,000 up to 5,500 people. In 2015, there were approximately 240 multi-millionaires in Azerbaijan, increasing from only 10 back in 2005 (Hay, 2016).

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Figure 4.

(Knight Frank, 2017) Come 2025, Knight Frank predicts that the number of millionaires will further rise up to 9,500. The multi-millionaires will be 410, ultra millionaires will be 148, and lastly, there will be 17 centa-millionaires (Hay, 2016). WHAT? Looking at the luxury market of Azerbaijan, its estimated total value in 2012 was 120 million euro (excluding hotels) and projected growth rate was just under 5% for 2013 (Petchu, 2014). In general, the ultra-rich Azeris, commonly under 50, are very status oriented and this affects the type of clothes they buy, the car they drive and their holiday destination (Laurus Consultancy, 2017). They regard aspects such as spending time with friends & family, having good quality food and drink, keeping fit and healthy, and having time to relax as top priorities (TMI Consultancy, 2017). Azeri visitors are prepared to pay for a wide range of services, but expect high standards in return (Laurus Consultancy, 2017). During travels, they spend on average 1,000 Euro a day on accommodation and prefer exclusive service in

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everything - chauffeur-driven cars, personal shoppers and guides (Laurus Consultancy, 2017). Common luxury travellers in Azerbaijan are young and active businessmen, with an average age of 40. The majority of them live in Baku. They go abroad a few times a year, with family and friends (TMI Consultancy, 2017). The wealthy elite of the country look for beach holidays and luxury breaks. Seaside destinations are by far the most popular among Azeris, this is followed by city breaks and touring holidays (Laurus Consultancy, 2017). Favorite destinations are islands such as Maldives and Bali (TMI Consultancy, 2017). According to the survey conducted by United Nations Development Program (UNDP), “Tourism Development Project”, France is also one of the most popular outbound destinations for Azerbaijani tourists. It was reported to be “because of French architecture and strong culture which attract people to visit” (TMI Consultancy, 2017). As British Ambassador Peter Bateman said, “The country was isolated for so long under the Soviet Union, but now has clear aspirations to enjoy the good things of life, including western art and culture” (Adam, 2017). Travelers from Azerbaijan will not expect you to speak their language but will prefer to have Azeri, Russian or Turkish speaking guides for sightseeing tours and highly appreciate having detailed itineraries and guides in Azeri or Russian (Laurus Consultancy, 2017). Most agencies in Azerbaijan prefer the information in Russian wherever possible, even if you just translate a flyer which sits inside your brochure, it will be appreciated. Knowledge of English amongst agents ranges from excellent to non-existent but there is nearly always somebody in the office who can speak English. (Laurus Consultancy, 2017) CASE STUDIES There are a number of popular festivities in Azerbaijan. However, most, if not all, of them are very traditional and religious and are celebrated within the country. “Azerbaijan is a country holding its centuries-old national traditions sacred. Traditions accompany Azerbaijanis from the moment of their birth: wooing, birth of children, feasts, harvesting and many other. Besides, many traditions of Azerbaijan are incarnated in hospitality, culture, folk beliefs, national clothes, national festivals and entertainments” (Advantour, 2017). Novrus holiday is the most festive Azeri celebration. It is the New Year counterpart in the country and symbolizes winter's end and the advent of spring (Jafarova, 2013).

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Other popular celebrations are Victory Day, International Baku Jazz Festival, Ramadan, and the Day of Sacrifice.

One isolated case is a report on Azeri billionaire, Farhad Ahmedov. He owns the largest yacht yet to travel and throws lavish New Year parties in St. Barths (Karimli, 2017).

RECOMMENDATIONS

In terms of private parties, there were almost no records of lavish or extravagant celebrations found, and especially no proof of destination events. With this, it can be concluded that Azerbaijan might not be ready for destination events yet.

There was also no comprehensive study found on the behaviour and specific characteristics of Azeri HNWI. Should Disneyland Paris wish to pursue this market, working with a research agency is needed to acquire an in-depth knowledge.

However, it could be interesting to note that most of the top millionaires have dual citizenship in either Russia or Turkey and are based on these countries (Turan, 2010). Furthermore, Azeri Report says that three of the wealthiest people in Russia are Azeris (Azeri Report, 2010).

All research considered, it is suggested to focus on penetrating the Russian market. Through this, DLP might be able to tap not only Russian nationals, but also the HNWI Azeris who are residing in Russia.

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3.0 CULTURE ANALYSIS

3.1 DISNEYLAND PARIS AS A DESTINATION Whilst it has been established that Russia is a viable market for Disney Business Solutions to target due to the HNWI population extravagant parties and destination events, this does not necessarily mean that they would be attracted to the idea of hosting their event at Disneyland Paris. The following section of the report proves Russia’s long-standing love of France, the attraction of Paris and why in particular Disneyland Paris is an attractive option for Russian HNWI. Paris is renowned for being a city that is chic and full of elegance. It is enjoyed by UHNWI from around the world, who listed it as the 7th most important city in the world in both 2015 and 2016 (see Figure 5), coming in as second most important city in Europe after London (Knight Frank, 2017). This report will state why Paris is a viable choice for Russian HNWI when deciding on an event destination. Figure 5.

(Knight Frank, 2017)

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Traditionally, Russia’s wealthy have had a love for France for centuries. During the 18th century, Peter the Great requires all of his aristocrats to wear European clothes, which led to the arrival in Russia of the best Parisian tailors. Over time, France “with its taste for fashion and luxury became a role model for the Russian nobility” and Russian nobility would order their clothes from Paris. This taste for all things French continued, with Russian nobility learning French as a second language at birth (Godart and Kulikova, 2014). Nowadays, this attraction towards all things French can still be observed among Russia’s HNWI. Research shows that France is still considered as having the best luxury products available, with Russian’s choosing the French luxury brands Dior, Hermes and Louis Vuitton over their British and Italian counterparts, Burberry and Prada (Godart and Kulikova, 2014). Furthermore, perfume and wine from France are perceived by Russian HNWI to be among the best in the world (Gerasimenko, Ochkovskaya and Rybalko, 2013). Driven by their love of France, many Russians now own second homes there. One particularly popular destination is the Cote d’Azur, which according to a luxury events planner in Monaco, could be “because of the climate” (transcript 1), or due to the luxury lifestyle enjoyed on the Cote d’Azur, given that Russian HNWI tend to have a lust for anything luxurious (transcript 4). However, Paris is also frequented by many HNWI who have a permanent or second home there, with a high of 9,480 in Paris in 2016 (Knight Frank, 2017). The most popular month for HNWI in Paris is May, whilst the least popular month is February (see figure 6) (Knight Frank, 2017). All of the luxury events organisers interviewed during this research agreed that their Russian clientele would be interested in organising their events in Paris, due to it’s reputation as a lavish and extravagant location (transcript 4). It is clear that Russian HNWI have a strong affinity for France and would be interested in hosting their event in Paris, but what in particular would attract them to Disneyland Paris? Firstly, Disney is an almost universally known brand in Russia, with 97% of Russians showing awareness to the brand and Russians of all ages showing an emotional connection with Disney. Furthermore, 55% Russians have a positive opinion of the park itself, with it being listed as one of the top 5 in the world due to its iconic reputation (appendix 1). More importantly, Disneyland Paris is one of the only venues in Paris who can succeed in matching Russian HNWIs expectations that have been stated above. These will be discussed in detail in the following section.

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Figure 6.

(Knight Frank, 2017)

3.2 SYNERGIES In order to successfully attract Russian HNWI to host their private events at Disneyland Paris, it is important to ensure that the key expectations of Russian HNWI for their events are matched by Disneyland Paris’ offering. This section of the report will outline how Disneyland Paris can succeed in fulfilling the expectations of Russian HNWI through their offering. As discussed in a previous section, Russian HNWI have expressed six key expectations. Figure 7 (below) displays these principal six expectations and Disneyland Paris’ key matching points: Figure 7.

Russian HNWI Expectation Disneyland Paris Offering

Quality Disney brand

Exclusivity Limited number of custom-tailored events take place in DLP

Uniqueness Hosting a private event at DLP

VIP Status Exclusivity + Uniqueness

Personalisation “Anything is possible”

Privacy Privatisation of park areas

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The first important expectation for Russian HNWI is quality. This means that the standards should be of a high quality, and top services should be offered. Firstly, the Disney brand in itself represents quality. Disneyland Paris is celebrating it’s 25th birthday this year, showing that it has been a place where dreams come true for many years. Furthermore, it is a trusted and respected brand all over the world, with values that people feel connected with and appreciate. Secondly, Disney Business Solutions offers top VIP services to its clients in order to match the client’s needs, including premier class catering, 5* hotel suites, VIP access and much more. Another expectation of Russia’s HNWI for their events is exclusivity. Hosting a private event at Disneyland Paris certainly is exclusive! Firstly, a very limited number of private events can take place in Disneyland Paris each year, meaning that the clients would be one of a select few people to host their event there. Secondly, each of the events are tailor-made to the client’s needs, therefore it is highly likely that an event with the same demands, themes, etc as the client’s has never happened at Disneyland Paris before - a truly exclusive event! Furthermore, Disneyland/world resorts are the only locations in the world where you can be joined at your event by the official Disney characters including Mickey and his friends, and hosting an event at Disneyland Paris offers clients the opportunity to privatise an area of the park (or even the entire park outside of park opening hours), which is a privilege that not many people in the world have the opportunity to experience. Whilst at Disneyland Paris, clients will also have exclusive access within the resort, including staying in the ‘Castle Club’ in Disneyland’s 5* hotel. Russian HNWI also expect uniqueness in their events. Hosting a private event at Disneyland Paris is unique in itself; it’s something that their peers will not have previously done. But that’s not all, as the events themselves are also each unique in their own way. As each event is tailored to the client’s needs, this customisation makes it unique from any other event. As mentioned above, the customisation can include having Disney characters at the event, or privatising parts of the park itself, which are just two examples of the uniqueness of events at Disneyland Paris! The combination of this exclusivity and uniqueness ensure that the clients are treated as true VIPs throughout their time at Disneyland Paris. This matches one of their most important expectations, to have the VIP status. As discussed earlier, both having a VIP status and showing to others their status is highly important for Russian HNWI, therefore Disney Business Solutions can also offer several other exclusive perks to ensure that not only are the clients happy with their event, but they also feel like VIPs throughout their stay at Disneyland Paris. These include suites in the ‘Castle Club’ at Disneyland Hotel*****, VIP tour guides through the park (including queue jump for attractions), a VIP day trip to Paris, private spa treatments at Disneyland Hotel’s Spa and privatisation of restaurants or areas according to the clients desires.

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As mentioned in each of the sections above, the private events that take place at Disneyland Paris are all tailored to the clients needs. This shows how Disneyland Paris is an ideal venue for Russian HNWI, who put personalisation as one of their top expectations. The event can be personalised in so many ways, from venue selection, to theme, to decoration, to catering, to even having characters at the event - anything is possible! Finally, Russian HNWI also expect privacy at their event. This is certainly possible, as Disney Business Solutions offers the possibility to privatise areas in the parks, hotels, restaurants, or even the park itself outside of opening hours. This means that the guests can enjoy their party knowing that only the invited attendees will be there. Furthermore, Disneyland Paris is very secure, with security points upon all entrances, and extra security can also be arranged for the clients if they wish. Thanks to Disney Business Solutions’ offer of custom-tailored, exclusive events at Disneyland Paris that are personalised to suit the client’s needs, it is evident that hosting a private event at Disneyland Paris would certainly fulfill - if not surpass - the expectations of Russian HNWI clientele.

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4.0 SWOT

STRENGTHS • Power of Disney brand • Creating lasting memories • Expertise in events • Ability to personalize events • Exclusivity and uniqueness • Strong reputation of France in Russia

for its luxury, food, wine and culture • Strong historical ties exist between

France and Russia • High-end wedding services providers

in Paris (international designers, caterers, florists)

• The French wedding theme trend

WEAKNESSES • Low awareness of Disneyland Paris as

an event destination in Russia • Potential lack of emotional ties with

Disney from Russians • No contact within Russian HNWI

market • Language barrier problems • No Russian speaking representative • Park restrictions (e.g. privatisation

during park opening hours, fire safety policies, etc)

OPPORTUNITIES • Increase in ‘destination

weddings/parties’ among Russian HNWI

• Russian HNWI huge spending on weddings & parties

• Russian events have many guests • Celebrations last for several days • Generation Y & Z’s strong affinity with

Disney = high success of the ‘youth events’

• Disney representative in Russia

THREATS • Word of Mouth is difficult to influence • Russian HNWI are secretive, do not

trust easily • Russian HNWI demand may be under

or overestimated • Once one DLP wedding has been

done, idea of ‘exclusivity’ might be lost • Accessibility of DBS services to the

affluent • Weather (HNWI choose Cote D’Azur

for a reason)

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5.0 ACTION PLAN

5.1 EVENTS SHOWING LOW POTENTIAL Whilst many events are popular celebrations in Russia, this does not necessarily mean that these should be promoted for HNWI to celebrate at Disneyland Paris. Several of these big celebrations are known for being celebrated within Russia itself, not abroad, whilst other celebrations are less popular in Russia than in Western Europe. In this report, recommendations will be made on which events not to focus on, as well as which events to promote. Whilst the information provided in this section of the report related to Russian culture and traditions is generalised to the Russian population as a whole, Russia’s HNWI who have grown up in Russia will often respect the same traditions, as they have been instilled in them from a young age and it is part of the Russian culture for all status groups. No research found supported that Russian HNWI follow different trends for these events, such as destination events. Therefore, the events that are not recommended are listed below with details supporting this recommendation. New Year Whilst New Year is arguably the most important holiday on the Russian calendar, it is known as a “time for relaxing” (School of Russian and Asian Studies, 2015). The main celebrations take place on December 31, however the common tradition is to listen to the Kremlin bells chime and toast with family as the bells chime. This puts importance on being in Russia, to either hear the bells in Moscow or on the tv. New year is normally a week-long celebration, however the rest of the week is considered a relaxing week. In the cities there are military processions and light celebrations, but otherwise it is a time to spend with family in the lead up to Christmas on January 7th (School of Russian and Asian Studies, 2015). Christmas The Russian Orthodox church recognises January 7th as the day Jesus was born. Some Russians do not even celebrate Christmas at all, and for those who do, it is reserved as exclusively a religious holiday. Most families celebrate with a family dinner and by attending church, however very few families give gifts, showing that it is far from the Western traditions. This week from New Year to Christmas is a time for tradition and family (School of Russian and Asian Studies, 2015).

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Engagement to be married Traditionally, engagements in Russia are very different to in western countries. A man asks a woman to marry him, but that is all - no ring, no celebration (Women Russia, 2017). This is still very much the status quo for Russians, however Russian HNWI may follow the western trends of giving rings and even of having celebrations. Even so, no cases have been found of any Russian HNWI celebrating their engagements with lavish parties, especially abroad. Birthdays In many European countries, 18 years old is an important birthday to celebrate as it is the time someone is considered an adult. In the USA, this big celebration takes place at 21 years old, when people are legally able to do things such as drink alcohol. Traditionally, these birthdays trigger large celebrations with family and friends. However, in Russia, these are not important birthdays. It appears that there are no clearly defined important birthdays in Russia; Victoria, a Disney representative in Russia, stated that the important birthdays according to her are 1, 5, 7, 16 and 25 years old (Appendix 1), whereas Tatiana from the Russian Cultural Centre in Paris stated that the important birthdays are those every decade (10, 20, 30, etc) (Transcript 3). Therefore, it can be concluded that whilst birthdays are celebrated, there are no specific birthdays that are incredibly important life celebrations for all Russians. Furthermore, very little evidence has been found of destination birthday parties as a trend among Russian HNWI. The only exception that has been found is the birthday of Russian billionaire Andrei Melnichenko’s wife, which was celebrated in Britain and cost $2 million for the entertainment alone (What It Costs, 2016). Despite the fact that destination birthday parties are uncommon, Disneyland Paris could target Russian HNWI for birthday events, however there is no specific age to target, therefore it would be more of a general birthday event proposition rather than something tailored to one specific life celebration. Russian traditional holidays Research showed that the Victory Day is an important celebration in Russia. This takes place on May 9 and celebrates the end of World War II. It is typically celebrated by parades, fireworks, concerts, and dinner with family. However, this is a celebration that must take place in Russia: “it’s very in-country celebration, we won’t travel to celebrate it” (appendix 1). Similarly, Maslenitsa is an important celebration in Russia. This is a full week of celebrations, and is sometimes referred to as Russian Orthodox’s version of ‘Mardi Gras’. However, the celebrations seem far from those carried out for Mardi Gras. The typical celebrations consist of blinis being baked and eaten throughout the week, music, bonfires and snow fights (School of Russian and Asian Studies, 2015).

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This does not appear to be a time for lavish parties, but rather a time to eat and enjoy the celebration in a relaxed atmosphere with family.

5.2 PRODUCTS TO DELIVER

5.2.1 WEDDINGS Based on the research, it is evident that wedding is the biggest celebration in the life of an ultra-rich Russian. The case studies show that the celebration is always lavish, attended by hundreds of guests, and stretches up to a couple of days. It further shows that Russian HNWI are willing to shell-out huge amount of money to please their guests and show-off their wealth through this life celebration. Moreover, civil wedding is the most popular ceremony as opposed to religious rituals. Russians were also found to have a strong affinity and high regard to French culture. This affinity is seen through the family's’ choice of decor, couture designers, and venue/location. Last but definitely not the least, the study reveals that the Russian market is open to destination weddings. As seen in one of the case studies, France is one of the top choices of Russians for the most important day of their lives. FACTS According to a report by the Financial times, about one million couples in Russia get married per year. Recently, it has seen growth in many luxury wedding services providers as they try to meet more sophisticated demands from ultra-rich Russians (Gorst, 2012). Traditionally, a Russian wedding happens in ZAGS (Zapis Aktov Grazhdanskogo Sostoyaniya) or the local civil registry office. The ceremony in ZAGS is similar to what happens at a civil ceremony in the West. After the ceremony, the wedding party would tour historic sites such as the local second world war memorial in a procession of cars to take photos. They then proceed to a restaurant for a banquet (Schultze, 2000). Nowadays, church marriage is slowly gaining popularity again. However, this kind of ceremony in Russia still doES not have official status and the church requires a civil marriage certificate to arrange the ceremony for the couple. Hence, civil wedding is still the most common choice. (Schultze, 2000) Russian weddings commonly last for two days and festivities continue up to a week with food and alcohol constantly on tap (Schultze, 2000). Ksenia Samoilenko, who runs a boutique events planning agency in Moscow, says that “Russians like to eat and drink a lot. It’s important that the table is laden.” They are very particular to presentation and details that reflects on custom-made silverware, embroidered napkins and lavish decor all de rigueur, the report continues (Gorst, 2012).

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Further, it says that the cake is highly important in Russian weddings. They treat it as the most important item after the bride’s dress. It is common in high society Russian weddings for the cake to be brought into the party by “a procession of waiters in a blaze of firecrackers.” This is one of the most awaited parts of the celebration (Gorst, 2012). In terms of timing, a study shows that demands in this market is subject to seasonal fluctuations. Market players say that the summer period makes up to 60% of all weddings. Next in popularity among newlyweds are in September to October. Least demanded is winter where only 10% prefer to get married at this time (Tihomirov, 2007). Top rated dates are the City Day (depending on which city) and symbolic dates such as 08.08.08 and 07.07.07 (Tihomirov, 2007). Meanwhile, Financial Times points out that customer relations with rich Russians require careful handling, as “they are not trusting and tend to take secrecy to extremes.” Clients attend cake planning sessions and other pre-wedding consultations without giving out their last names (Gorst, 2012).

TRENDS As Russians get richer and more modern, they are now following western methods of celebrations that are very elaborate, unique, and painstakingly planned. The children of Russian oligarchs are now the generation who are in the right age to marry. They are modern, well-traveled, and dream of sophisticated weddings that will set them apart from the crowd (Gorst, 2012). A study on the Russian wedding market reveals that more and more Russian couples are choosing to celebrate their wedding outside Russia (Kozlova, 2014). Some top Russian wedding theme trends are as follows (Kozlova, 2014): 1. Traditional 2. Historic 3. Russian 4. French Furthermore, based on the conducted research (see case studies below), here are details that are noticeably common among luxury Russian weddings:

1. Over the top flower decor 2. International couture gown designer 3. Extremely expensive wine (can be French) 4. International/ A-list singer or performer 5. Very expensive jewelry 6. Multiple tiered cakes 7. Caviar

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8. Highly customized souvenir for guests

CASE STUDIES Wide media coverage on ultra-rich Russian weddings reveal how truly invested the families are on this celebration. As said in RichRussians.com, “Russian weddings are glitzy and glamorous – one trying to outdo the next.” The following case studies show that Russian HNWI are willing to spend whatever it takes to have the most extravagant wedding possible. Case Study #1 (Forbes Europe, 2016) WHO: Said Gutseriev (Russian) and Khadija Uzhakhivz (Russian) PRICE: USD 1 billion WHERE: Safisa Restaurant, Moscow FEATURES:

• $1 million bridal gown by Elie Saab especially imported from Paris. • Entertainment from Jennifer Lopez, Enrique Iglesias, Sting and French singer

Patricia Kaas • Nine-tier cake • Fresh flowers that blanketed both the facade and interior of the venue • Flashy diamond jewelry worn by the bride • 900 guests

PLANNER: Sarah Haywood Case Study #2 (Stewart, 2016) WHO: Anastasia Fuks (Russian) and Moussad Abdelhafid (Libyan) PRICE: N/A WHERE: Saint Jean Cap Ferrat, Cote d’Azur FEATURES:

• The villa where the ceremony was held was photographed bedecked by flowers

• 10-ft tall cake • Flashy diamond ring • Gown by Zuhair Murad

PLANNER: N/A Case Study #3 (Barns, 2016) WHO: Madina Shokirova (Russian) and Sador PRICE: N/A WHERE: Radisson Royal Congress Park, Moscow

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FEATURES: • The fancy reception featured fresh flowers that covered the entire ballroom • It was reported that the entertainment cost half a million US dollars • The 10-ft cake cost another half a million USD • Ralph & Russo wedding dress reported to cost $650,000.

PLANNER: N/A CAKE DESIGNER: Renat Agzamov Case Study #4 (Luxury Weddings, 2016) WHO: Sargis Karapetyan (Russian) and Salome Kintsurashvili (Armenian) PRICE: USD 2 million WHERE: Safisa Restaurant, Moscow FEATURES

• $35,000 Elie Saab gown • Jewelry worth $200,000 • 19ft tall cake • Floor to ceiling floral decor • Magical forest inside with real flowers • Maroon 5 played at the wedding • 500 guests

PLANNER: Stefanie Heller, a German event and wedding planner based in Dubai. She has done weddings all over the world since 2006. Case Study #5 (Kavanagh, 2016) WHO: Victoria Sardarov (Russian) and Anton Antonov PRICE: Around 10 million Euros WHERE: Zofin Palace, Prague FEATURES:

• Entertainment from Robbie Williams and Elton John • Elaborate floral decor said to be brought from France

PLANNER: N/A Case Study #6 (Frivolette Magazine, 2017) WHO: Elina Bazhaev (Chechen) and Ali Khan PRICE: N/A WHERE: Le Louis XV, Monte Carlo FEATURES:

• 310 000 euro wedding dress by Zuhair Murad PLANNER: N/A Case Study #7 (Frivolette Magazine, 2017)

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WHO: Maryam Bazhaev (Chechen) and Magomed Erihanov (Chechen) PRICE: N/A WHERE: Safisa Restaurant, Moscow FEATURES:

• Restaurant hall was filled with floral arrangements • Entertainment by Chechen singer Makka Mezhiev and Makka Sagaipov,

Dagestan Artist Rinat Karimov, the group "A-Studio" and the star of the show "The Voice" Sharif Umkhanov.

• 200 guests PLANNER: N/A WHY HOST WEDDINGS The most important finding in the study is that Russians are indeed open to destination weddings. With this follows the great opportunities that Russian HNWI weddings are always lavish, attended by no less than a hundred guests, can extend up to a week, and are allotted with a huge budget. The common wedding rituals being civil and not religious makes it perfect for Disney customization. There are no stringent restrictions as to what Disney can offer and there are also no religious affiliations that should be worried about. Because of the Russian’s affinity and high regard to French culture, this makes them the perfect market for any French agency that offers wedding services. Furthermore, Paris, being home to some of the world’s top designers, agencies, and other wedding services related companies who are the preferred suppliers of the Russian HNWI, puts Disneyland in the perfect location. DISNEY OFFERING As mentioned, the most popular marriage rite is through a civil ceremony. But should a future client be a Russian Orthodox, there is now a recently-opened Russian Orthodox Church in Paris where couples can conduct their ritualistic ceremony followed by a reception in the park. It is also possible for the couple to have the civil ceremony in Russia or whichever location they prefer, then hold the celebration in Disneyland. As the generation of Russians who are getting married nowadays are younger, they tend to have a stronger affinity to the brand. The regard for a Disney wedding or fairy tale is expected to be more relatable and recognizable to these modern couples. Hence, it is the perfect time for Disney Business Solutions to penetrate this market.

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5.2.2 BACHELORETTE PARTIES While researching on the wedding market, one case study stood out and sparked the potential for tapping bachelorette parties. It revealed how the bride spent her bachelorette party in Spain (Markovinovic, 2016). The fact that international media picked this up and published about it, it has now reached the radar of the other Russian HNWI. With this, it is believed that once one person from the same league creates a huge buzz, others will follow. It is possible that other Russian HNWI might follow this trend, making it a highly interesting market for Disney Business Solutions. FACTS Discussed in detail in the wedding section, the daughter of Russian billionaire Shokirova had an extremely lavish celebration in Moscow last 2016. The highlights of the event include the bride’s 860,000 euro gown, the 630,000 euro entertainment, the 10-tier cake, and the over-the-top flower decor. Huffington Post reported that Madina Shokirova spent her bachelorette party in the Spanish resort town of Marbella prior to the wedding. She reportedly flew in with all her friends on a private jet (Markovinovic, 2016). WHY HOST BACHELORETTE PARTIES Despite being briefly discussed, this opens up the potential of bachelorette parties being an offering of Disney Business Solutions. As discussed in the weddings section, there is a trend in bringing these celebrations abroad and this has the possibility to trickle down to the bachelorette parties as well. And again, the publicity of the abovementioned case study could possibly strengthen the trend in destination bachelorette parties. In case Disney Business Solutions encounter a couple that chooses not to do a wedding in Disneyland, it can still take advantage of this market through the bachelorette parties. As women tend to have more affinity to the fairy tale experience in Disney, celebrating the bride’s bachelorette party in the park could be the next best thing to make a Disney happy ending come true. TREND The specific case study mentioned above shows how a destination bachelorette celebration can be a possible trend. The research reveals a potential on this market but it is suggested for Disney Business Solutions to conduct further investigation to confirm whether there is a strong demand for this event.

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DISNEY OFFERING To give recommendation on how Disney Business Solutions can introduce this to the Russian HNWI, detailed below are services that DLP can put together and offer as a package. Potential package options:

• Spa day at Disneyland’s 5* hotel including treatments (massage, facial, etc) • Exclusive VIP trip to Paris including private chauffeur and car (limo/saloon),

personalised tour route based on clients’ interests, guide, etc • VIP tour of the parks, including VIP ride access (without queues) • Dinner in a privatised location of bachelorette’s choosing (tower of terror,

cinderella castle, haunted house, one of the many restaurants) • Castle club suites as accommodation, decorated to the bachelorette’s

choosing (balloons, arrival gifts, flowers, etc).

5.2.3 DEBUTANTE BALL Studying the debutante balls, it has been found out how much time, money, energy, and effort Russians put preparing for this event. It is a highlight of Russian elite calendar worldwide. As it gathers aristocrats, businessmen, diplomats and other important people worldwide, it is the perfect venue to make contact with the Russian HNWI from all over the world and not just from Russia. To take advantage of this rich opportunity, it is suggested for Disney Business solutions to be a partner of the event (discussed below) or to create its own “International Debutante Ball” to gather debutantes worldwide in Disneyland Paris.

FACTS Debutante ball is a tradition that started in the early 19th century among European and Russian aristocracy. It is a symbolic evening of introducing ladies who have ‘come of age’ from upper class or aristocratic families into society. (Richardson, 2016)In 1917, the celebration stopped due to a revolution in which Tsar Nicholas and his family were executed. The tradition started up again in post-Communist Russia in 1990s. (Richardson, 2016) In today’s Debutante Balls, there is a more modern approach “claiming to offer a ‘friendly social context’ in which young men and women from across the globe can ‘form lasting friendships’”. (Richardson, 2016) According to the organizer of the Russian Ball in London, Dr Elisabeth Smagin-Melloni, the event answers to the increasing demand for what she calls ‘a taste of Russian history and culture and a feeling of togetherness’. (Richardson, 2016)

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There are a number of Russian Debutante Balls held every year in different countries. The section below will further explain the detail of each festivity. CASE STUDIES Case Study #1 (Genova, 2016) WHAT: Russian Debutante Ball, London WHO:

• Debutantes are from London • Guests are elite from all over the world • The Ball has strict rules that state that debutante dancers must be under

25, and most of the girls must have degrees from top universities with the ability to speak several languages. All must have a good job or be studying, and be able to answer questions on the spot about their country’s history or literature. (Cummings, 2016)

• From hundreds of applicants, only 60 pairs are chosen to dance in front of who pay up to 1000 euros just to witness. (Genova, 2016)

WHERE: Grosvenor House, A JW Marriott hotel , London WHEN: November, annually FEATURES:

• World class performances from artists like prima ballerina, Maria Yakovleva, orchestras, musicians, etc...

• 800 exclusive guests of Russian celebrities and royalty • Gourmet food

PRICE: • £ 590 Super VIP

£ 450 VIP £ 290 Business

(Russia Link, 2016) ORGANIZER: The event is organised by Dr Elisabeth Smagin-Melloni of ESM Event Management. For the past twelve years, the company has been staging extravagant balls in Europe and Russia PHOTOGRAPHER: Martin Parr - Time Magazine The annual event, whose patron is Princess Olga Andreevna Romanoff - a descendant of the last Tsar of Russia, Nicholas II - is a chance for New Money to rub shoulders with aristocracy and for Russia’s elite to mingle and make contacts. (Genova, 2016) Case Study #2 (Tatler Magazine Ball, 2015)

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WHAT: Tatler Debutante Ball WHO: 12 young heiress of the most influential and famous Russians WHERE: Pilar Hall, House of Unions, Moscow WHEN: November/ October, annually FEATURES:

• Private ceremonial dinner at Bolshoy • Gowns by the world’s leading fashion brands • Chanel Fine Jewelry accessories • The debutants arrived to the ball in elegant Bentleys • Performance from Russia’s National Philharmonic Orchestra and other world

renowned artists PRICE: N/A ORGANIZER: Tatler Magazine Case Study #3 (Venskibal, 2016) WHAT: Viennese Ball WHO: 140 couples of young debutants from eight countries WHERE: Gostiny Dvor, Moscow WHEN: May, annually FEATURES:

• Largest ball of Russia • Entertainment from philharmonic and jazz orchestras, and world classical

artists • Guests of the Ball are representatives of the international business and

cultural communities, politicians, diplomats, artists of Russian, Austria and other countries

PRICE: N/A ORGANIZER: LLC TRENDS All the aforementioned balls are famous for their debutantes who wear elegant ball gowns from international designers. The most popular choices are the following: Elie Saab Haute Couture, Valentino, Chanel, Yanina Haute Couture, Dior Haute Couture, and Vera Wang (Genova, 2016). Another detail that cannot be missed are the gourmet food served. “Their taste is rich, in both senses of the word, with a feast of caviar, confit of duck, Portland crab, slow-cooked Welsh lamb and chocolate and marmalade dessert” (Genova, 2016). Caviar is definitely a staple dish, also including French champagne and vodka during a glitzy reception (Russian Art and Culture, 2016).

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WHY HOST DEBUTANTE BALLS Based on the case studies, it is evident that Russian HNWI’s spend a lot of time and effort to prepare for debutante balls. This goes not only for the debutante themselves but the attendees or the guests as well. This shows their value for lavish socialization. Similarly, it is expected of the Russian HNWI to exert the same efforts should Disney Business Solutions conduct its own version of the ball. Moreover, big elite-Russian gatherings are the best venues to make contact with the HNWI. In the mentioned debutante balls, Russians all over the world gather, and not just the ones from Russia. Penetrating these events will allow Disney Business Solutions to be in contact with HNWI Russians worldwide. Lastly, Disney fairy tale stories are popularly known for including balls in the plot. Hence, there is already an immediate association of the debutante ball to the Disney brand. With this, Disney Business Solutions is in the perfect position to either be a part of the said Russian balls in one way or another, or for Disney Business Solutions to create its own version of the ball.

DISNEY OFFERING The research clearly proves that balls are a huge part of the lives of the Russian elite. They are conducted in different cities which shows that it is an event that is open for new destinations. To bring the extravagant celebration to a higher notch, it is suggested to create an International Russian Debutante Ball in Disneyland Paris where Russian debutantes from all over the world can meet each other in a much more magical and grander evening with the Disney touch. This is the perfect way to offer wider networking possibilities to the Russian elite as it is revealed in the report to be the core value behind the festivity. As with the mentioned case studies, various Russian personalities will also be invited to grace the event. It is also ideal for Disneyland Paris to participate in the balls may it be as a partner, attendee, co-organizer, entertainment provider, or sponsor.

5.2.4 GRADUATION The research reveals that Russians give exceptional importance to high school graduations. It is widely and hugely celebrated all over the country in both schools and by the families of the graduates. The event branches out into two major celebrations - a school-initiated graduation ball and private celebrations per family. The suggested aim is for Disney Business Solutions to entice the Russian market, whether it is the school or the families, to extend their celebrations in Disneyland.

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FACTS AND TRENDS There are not many countries that celebrate students’ graduation as splendid and spectacular as Russia. The Last Bell Day, which usually falls on May 25, is a symbolic event for the end of the academic year. It is very distinctly known for the girl students who wear Soviet-style school uniform with white aprons and white bows in the hair - a traditional uniform dating back to the 1800’s (Kelly, 2007). A bell is rung to signal that school is finally over for the graduates. Many students take this opportunity to have one last party with their friends before departing for the next stage in their lives (Choukline, 2012). After the official ceremonies at the school, graduation parties divide into two parts - a graduation ball and a private celebration with the families of the students (Sadler, 2013). “Every detail of the event is thought and prepared in advance. Preparation begins almost half a year before the party date. A lot of attention is paid to the girls’ outfits which in many cases remind wedding dresses, or are perhaps even more luxurious. Girls spend ages (and thousands of rubles) buying their graduation dresses”, Sadler adds. This was echoed by a Russian professor at the Russian Cultural Centre in Paris (Transcript 3). According to her, parents work together forming a committee that plans the whole celebration. They book the location, decoration, and all the other details. She also reaffirmed that private family celebrations are held separately after the school festivities. WHY HOST GRADUATION PARTIES Despite not finding media coverage on any luxurious graduation party by a wealthy Russian family, there is a potential on this specific celebration. The fact that Russians give a huge importance to this life event can mean that Russian HNWI might be open to spending money to throw a lavish party for any graduating member of the family. It is therefore suggested for this event to be further explored. Additional interviews will be useful to confirm interest from Russian families. Lastly, it is proposed for this celebration to be included in Disney’s offering for this market. DISNEY OFFERING There are two suggested products that Disney can offer to the graduation market. First, Disney Business Solutions can conduct the school-organised graduation ball/celebrations at Disneyland Paris. As all schools definitely have a school-initiated celebration, Disney Business Solutions can approach the school or the

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organizing committee to entice them to hold the event in Disneyland. The idea is to capitalize on a themed event by offering an extension of the school ball and bring it to Disney. Themed parties and VIP tours for the class can be organized. It is a great way for the students to bond together before the next chapter of their lives. Secondly, the families are also a target. A private celebration in the park can be offered. On top of the event that will be organized and other special services that will be provided, a nice Disney touch that can be added is an encounter with Mickey in graduation cap and gown, and a Disney Last Bell certificate.

5.2.5 BAR/BAT MITZVAH Due to modernity, bar and bat mitzvah celebrations were found out to be more festive than ever. Especially for the young girls, the event is now more of an elaborate party than traditional or ritualistic. It has been found out that a lot of Jewish families now are not affiliated with any synagogue, hence, the birth of destination bar mitzvahs. This life event is perfect to target since the celebrants are children who are most likely at the peak of their affinity to the Disney brand. Lastly, 25% of Russia’s HNWI are Jewish, making it a highly interesting market for Disney Business Solutions. FACTS One of the best-known customs of the Jewish people is that of Bar/Bat Mitzvah. This is a symbolic ceremony that initiates boys and girls into adolescence. At the age of 13, a Jewish boy would participate in the Sabbath synagogue service for his initiation. A more modern adaptation gives Jewish girls the same honor, usually aged 12, since it is presumed that they mature more quickly than their male counterparts (Kazdan, 2010). During the ceremony, the boy or girl is prepared to lead a significant part of the synagogue service symbolic of his or her responsibility as a mature individual (Kazdan, 2010). Often, the synagogue service is followed by a reception or party in honour of the new Bar/Bat Mitzvah (Kazdan, 2010). Today, Jewish families devote significant amount of time, money, and mental energy into this celebration (Shoham, 2016). This event has turned into an elaborate birthday celebration with a very festive atmosphere. The modern bar mitzvah preserves the old form of visiting a synagogue. By contrast, Jewish mainstream marks a girl’s bat mitzvah only with an elaborate birthday party with no accompanying rituals (Shoham, 2016). TRENDS

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Nowadays, it is important to point out that there is a growing number of families who are unaffiliated with any synagogue and have nowhere specific to celebrate when their children turn 12 or 13 (Meiser, 2013). “Synagogue membership is down nationally, but the idea of a bar and bat mitzvah is something that families still cling to,” said Rabbi Jamie Korngold, owner of Adventure Rabbi, a Boulder, Colorado-based program that provides destination bar mitzvah opportunities (Meiser, 2013). With this springs the trend of “destination” bar and bat mitzvahs, where families celebrate outside their synagogues and home communities. While Israel remains the top choice for a destination bar mitzvah, teenagers today also choose to have their ceremonies in places as diverse as a Costa Rican rainforest and a ski slope in Aspen (Meiser, 2013). “Destination bar mitzvahs are along the same idea of the destination weddings,” said Ellen Paderson, the owner of Bar Mitzvah Vacations, a travel agency that helps plans alternative bar mitzvah experiences (Meiser, 2013). Furthermore, the trend of destination bar mitzvah was confirmed through an interview with Pulp Events Monaco, a luxury events agency based in Monaco (See: Transcript 2). According to one of its event planners, they have already organized a lot of bar mitzvahs from Russian clients. According to her, the rituals are done in a synagogue followed by a celebration in a different venue in Monaco. She confirmed that these celebrations are very luxurious. CASE STUDIES Case Study #1 (History.com, 2005) WHO: Daughter of David H. Brooks, CEO of DHB Industries PRICE: USD 10 million WHERE: Rainbow Room, New York city. FEATURES:

• Entertainment from Aerosmith, 50 cent, and Kenny G • Guests were reportedly given gift bags containing upwards of $1,000 in

personal electronics, including digital cameras. Case Study #2 (McCormack, 2014) WHO: Julian Kemper, grandson of former MGM Mogul Kirk Kerkorian PRICE: USD 450,000 WHERE: Beverly Hills Hotel, Los Angeles, USA FEATURES:

• James Bond-themed Bar Mitzvah • Iggy Azalea and Nick Jonas both performed at the bash

WHY HOST BAR/BAT MITZVAHS

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One strong reason why bar mitzvah is chosen to be part of the offering is that as mentioned in the demographics analysis section of this report, approximately 25% of Russia’s HNWI are Jewish. Traditionally, this has been a big celebration for all Jewish families. But since destination bar mitzvahs emerged as a trend, it is now a strong target market for Disney Business Solutions. Finally, the confirmation from Pulp Events of the destination bar mitzvah trend being followed by their Russian clients is a huge motivation for Disney Business Solutions to tap into this emerging market. DISNEY OFFERING The celebrants of bar/ bat mitzvahs being 12 and 13 year-olds make them the perfect target market for a Disney celebration. If a family should choose to still do the ritualistic ceremony in a synagogue, there are a number of it established in Paris. Disney Business Solutions can then offer to organize the event in the park. The bat mitzvahs for girls being more celebratory in nature rather than ritualistic is possibly the best event for Disney to offer. Since this is also for the young Jewish girls, it might be easier to entice them to come to Disney for the celebration. Finally, one of the case studies revealed that it had a James Bond themed celebration. This opens up the potential of creating themed bar mitzvahs in Disney which is ideal with all the themes that Disney can offer.

5.3 KEY SUCCESS FACTORS Several factors exist that could influence the success, or failure, of the private events of Russian HNWI at Disneyland Paris. Disney Business Solutions must ensure that these factors are controlled throughout the market development and implementation stages, as well as throughout the events themselves, in order to establish a positive reputation within the Russian HNWI market and thus succeed in building a client base there. These key success factors include trust, ensuring an exclusive/private event, affinity to Disney, strong relationships with agencies, word of mouth and communication. In this section of the report, these factors will be detailed and recommendations on how to control them will be provided. TRUST Russians, especially HNWI, have a reputation for being distrustful. According to the Financial Times, as clients they need careful handling, as “they are not trusting”

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(Gorst, 2012). This means that trust is a key issue, as Disney Business Solutions needs to work to build their trust in order to ensure that the client commits to hosting an event at Disneyland Paris and is fully satisfied with their experience. Trust can be built in several ways:

• Making partnerships with respected agencies in Russia, therefore reassuring the Russian clients that Disneyland Paris is a reliable and sure option

• Assuring the clients that the event is a top priority and is being fully managed • Showing commitment to the client through time dedicated to them,

communication, presentation of the proposals and meetings at the client’s needs, all to create shared experiences and therefore emotional bonds.

• Inviting the clients for an exclusive stay at Disneyland Paris during the negotiation stages, and giving them a truly personalised VIP experience. As previously mentioned, Russian HNWI love to be treated like VIPs, love exclusivity and love personalisation. Therefore, they can be given a Castle Club suite for their stay in the 5* hotel, be invited to lunch by their event representative at Disney Business Solutions at Disneyland Paris’ top restaurant, receive a VIP tour of the parks and receive personalised gifts/details throughout their stay. However, it must be noted that even though they enjoy personalisation, this must be done using the information provided by them; they may take offense if they receive personalised aspects of the stay that clearly shows that they have been the subject of research beforehand. Whilst the VIP status and exclusivity should be lavish, the personalisation should be subtle.

Trust is arguably the most important success factor, as without this the clients could cancel their event at Disneyland Paris which would not only lose that custom, but create bad word of mouth among the Russian HNWI community. ENSURING AN EXCLUSIVE, PRIVATE EXPERIENCE As previously discussed, factors such as exclusivity, uniqueness and privacy are principal expectations of Russian HNWI. This success factor goes hand in hand with trust; the clients need assurance that their expectations are being met and the exclusivity and privacy of the event must be high priorities throughout the event planning and execution. Disney Business Solutions can control this factor by:

• Establishing the needs and expectations of the client early in the planning process and reviewing the expectations periodically

• Ensuring that privacy is respected, not only in the event itself but in surrounding areas. For example, privatising a restaurant may not be enough if the public are walking around right outside, so the area around may also need to be privatised. Also, if the event is taking place in a hotel, an entire floor of the hotel may need to be privatised in order to ensure the client is fully satisfied with the privacy of their event

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This factor is related to going above and beyond the client’s expectations. Post-event, this dedication to ensuring an exclusive, private event should work in Disney Business Solution’s favour as positive word of mouth will be created by the satisfied clients. AFFINITY TO DISNEY AND DISNEYLAND PARIS This factor affects the success of the market development from the beginning. Whilst research shows that Russians have a strong affinity to Disney, which has been confirmed by Disney’s representative in Russia (see appendix 1), this is never certain until strategies have been put in place to infiltrate the market. The main threat here could be the awareness of Disneyland Paris as a location for private events and the possibility of different locations within Disneyland Paris, therefore threatening the credibility of Disneyland Paris as a venue for an exclusive event, even if the affinity for the Disney brand is strong. This factor will increase in chance of success through the methods of reaching the market (as discussed previously), including luxury fairs, partnerships with luxury events agencies used by Russian HNWI and establishing relationships with suppliers admired by Russian HNWI. Furthermore, increased exposure to the Disney brand in Russia in the few months leading up to the implementation of the market development plan could remind Russian’s of their affinity for Disney and therefore increase interest in Disneyland Paris as a venue once market infiltration begins. STRONG RELATIONSHIPS WITH LUXURY AGENCIES The relationships built with luxury agencies used by Russian HNWI could influence the success of the market development and thus the number of potential clients. If relationships go sour, the agencies will negatively represent Disneyland Paris, whereas a strong relationship could ensure that agencies will promote Disneyland Paris as a venue to their HNWI clientele. In order to control this factor, Disney Business Solutions could:

• Ensure that partnerships are made with the correct agencies (luxury, HNWI clientele, custom in Russia, often organise events abroad/not only in Russia).

• Provide incentives to the agencies, such as individual exclusive days at Disneyland Paris. Rather than inviting agencies to a press day, which could make them feel like just another statistic rather than a valued partner, Disney Business Solutions could invite each agency for their own VIP day, without any other agencies present. This ensures that the agency feels like their relationship is important, and values Disney Business Solutions as a partner. The VIP day could include a tour of the parks, dinner at the resorts top restaurant, and a night in a Castle Club suite. Personalisations can also be included throughout the day to include the agency’s logo, for example within the suite, to show commitment.

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Similarly, when targeting HNWI for weddings through suppliers (e.g. bridal gown designers), these suppliers should also be impressed in order to positively promote Disneyland Paris. The incentives used here will be created based on each individual suppliers needs, interests and expectations, which can be established once contact has been made. WORD OF MOUTH As previously discussed, the majority of promotion among HNWI is via word of mouth. This means that this is a very influential factor; negative word of mouth from a Russian HNWI with many contacts would destroy Disneyland Paris’ reputation within that target market. This is also a very difficult factor to control, however Disney Business Solutions can try to do this through assuring that the events that they do for Russian HNWI clients not only meet expectations, but surpass them. Furthermore, the partnerships with the correct reputable agencies and image given of Disneyland Paris as a venue for private events at the luxury fairs also influences word of mouth. Through these opportunities to reach the Russian HNWI market, Disney Business Solutions can create positive word of mouth that should then increase potential clientele and reinforce Disneyland Paris’ reputation. COMMUNICATION Language barriers may be a factor influencing the success of both gaining and retaining Russian HNWI clientele. Many Russian HNWI may not speak French or English, or may not feel that they have a sufficient level to efficiently communicate their needs and expectations enough to host an event in France. Disney Business Solutions can try to control this factor by:

• Using visual experiences rather than spoken/written language where possible (see later section on how to deliver and present products)

• Ensure a translator is available for meetings with clients who wish to have one present, who fully understands the Disney brand and the values of Disney Business Solutions

Through making the clients feel comfortable with the communication, Disney Business Solutions will build a stronger relationship and show dedication and commitment to the clients, therefore increasing positive word of mouth about Disneyland Paris as a good venue for destination events and adding to Disneyland Paris’ reputation of being an accommodating place where all dreams can come true - regardless of nationality or language.

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5.4 HOW TO REACH THE TARGET MARKET In order to successfully attract the right clients (HNWI) to host their private events at Disneyland Paris, Disney Business Solutions must use the correct access channels in order to establish their name in the Russian luxury market. The recommended access channels for events in general are luxury fairs (B2B and B2C), Silver Rain radio and luxury events agencies that have a high reputation among Russian HNWI. For weddings, it is recommended that wedding planners and suppliers (such as bridal gown designers) are used, and for debutante balls, it is recommended that the ball organisation committee are contacted directly. In this section of the report, details of each of these access channels will be provided with justification of their beneficial role.

5.4.1 LUXURY FAIRS As the previously-discussed research shows, Russian HNWI generally enjoy showing their wealth in order to acquire a desired social status. One way in which the HNWI and UHNWI in Moscow show their wealth is through the attendance of luxury fairs, which are reserved exclusively for Russia’s most wealthy and where they can purchase luxury products. The most exclusive of the luxury fairs is The Millionaire Fair. This fair was started in 2005 by Dutch group Gijrath Media, who also host shows in Amsterdam, Cannes, Dubai and Shanghai (Millionaire Fair, 2007). It is held in Moscow every year (normally in October/November), and entrance is invitation-only, with a strict dress-code in place (Affluence Avenue, 2013). Products on offer for purchase tend to include luxury cars, diamond-encrusted watches, helicopters, even the possibility to purchase a private island (BBC News, 2006). Another well-known industry fair that takes place annually in Moscow is The Luxury Travel Mart, a B2B fair which hosts the best representatives in the industry who attend the event to showcase their luxury services and products in the hope of establishing partnerships with companies working with VIP clients. « Companies that participate in the Luxury Travel Mart include five-star hotels and resorts, elite car companies, cruise and yacht charter companies, private jet charters, DMC and luxury operators. Most of the best-known brands in the luxury travel industry have participated and continue to participate in LTM each year. » (Luxury Travel Mart, 2017). Both the B2C fairs such as The Millionaire Fair and the B2B fairs such as The Luxury Travel Mart are interesting opportunities for Disney Business Solutions to showcase their offerings in order to reach the Russian market. Many Russian HNWI still rely on

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agencies to organise their travels and events for them, especially the older generation, but this is also still common among the younger generation who want to ensure that they are going to the right places and who may not speak strong enough English to organise their plans themselves (Ksenofontova, 2013). Therefore, attending The Luxury Travel Mart would be incredibly beneficial for Disney Business Solutions in order to make partnerships with luxury agencies in Russia that often work with Russia’s HNWI. Furthermore, attending an exclusive invitation-only B2C event such as The Millionaire Fair would provide Disney Business Solutions with the opportunity to showcase their offerings directly to the HNWI. Both of these fairs would be ways to generate positive word of mouth among the Russian HNWI community and to establish some control of the type of word of mouth that is created, through the exclusivity of these fairs. By attending both of these events, Disney Business Solutions would establish themselves both within Moscow’s top luxury agencies and also with the HNWI themselves, in order to maximise their target market reach to encompass all types of HNWI consumer.

5.4.2 SILVER RAIN RADIO Silver Rain is an informational and entertaining radio station based in Moscow, Russia, that targets “a wealthy audience” (Silver Rain, 2017). It has been operating for over 18 years is Moscow, and is now available in more than 100 cities. The typical listener is 30-45 years old, with a successful job and classed as ‘wealthy’ (therefore both affluent and HNWI individuals). Silver Rain has 523,000 listeners daily, and is well-known as being the radio station for Russia’s rich (Silver Rain, 2017). Whilst the radio station does play advertisements from companies, we do not recommend that Disney Business Solutions play advertisements on the radio, as this will be heard by over 500,000 people each day, meaning that affluent people (who are not HNWI) will also hear it and this will take away the ‘exclusivity’ of the events. Rather, Disney Business Solutions could attend some of Silver Rain’s events, such as their annual “Silver Galosh” awards ceremony or the radio’s annual birthday celebrations at Le Meridien Moscow Country Club (Silver Rain, 2017). Through such appearances, initial awareness and interest in Disneyland Paris as a destination for exclusive events will be created, without broadcasting events to a mass audience and thus losing the exclusivity, and these events would be potential locations to make key contacts within the luxury event industry in Russia.

5.4.3 LUXURY EVENT AGENCIES Whilst Disney Business Solutions could make some useful contacts at the luxury fairs, it would also be beneficial to create awareness (and potentially partnerships) with premier luxury events agencies used by Russian HNWI. This means that when a Russian HNWI hires a luxury event agency to create their private event, the

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agency can propose the idea of an exclusive event at Disneyland Paris. Some luxury events agencies used by Russian HNWI around the world include:

• M Premiere: Created by a Russian man, this luxury events agency is based in Dubai but organises VIP private events all over the world. With over 20 years experience, they have organised numerous weddings, balls and other private celebrations for HNWI (M Premiere, 2017).

• Naan Event Agency: Event and wedding planners, this agency has planned events all over the world for many years and has featured in many respected publications, including The Diamond Guide (Naan Agency, 2017).

• Luxuria Events: A French agency with offices in Monaco, Cannes, Nice, St Tropez and Courcheval, they plan luxury private events and target Russian HNWI among their clientele (Luxuria, 2017)

• Life Plus: With offices in Paris, Monaco, London and Lausanne, this event agency offers luxurious private events to HNWI. They have a Project Manager that is dedicated solely to the Russian market (Life Plus, 2017).

• JG Events: A French agency that has organised some of the most prestigious celebrations during the past decade for HNWI, royalty and celebrities in many locations including Paris, Moscow, London, Los Angeles, St Barths and the Cote d’Azur (JG Events, 2016).

5.4.4 WEDDINGS Based on the study, it has been proven that wedding is currently the most profitable sector of Russian private events. Hence, it is suggested for Disney Business Solutions to highly invest on penetrating this market. To help Disney Business Solutions reach out to the Russian wedding market, discussed below are possible contact points. The following suggestions can also be applicable to the bachelorette parties as they are the same market. The first contact point is through the bridal gown designers. This is because several names standout among the chosen designers of the Russian HNWI. Also, some of them have established offices in Paris allowing easier contact. The top two favorite designers are Elie Saab and Zuhair Murad. They are both Lebanese designers and have shops in Paris. The most expensive gown reported was $1 million by Elie Saab for the Gutseriev bride (Forbes Europe, 2016). Other favorites are Alessandra Rich, Vera Wang, Valentino, and Chanel Haute Couture. Secondly, it is suggested for Disney Business Solutions to approach wedding or event planners. Two renowned planners to the stars are Sarah Haywood and Stefanie Heller. Haywood is based in the United Kingdom and has organized some of the most expensive weddings in England and Europe. Her clients include royalty, pop stars, and Fortune 500 list members (Brinded, 2015).

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Meanwhile, Heller heads a Dubai-based agency called Jam Wedding Planner. She has done weddings and events for high-end clients and well-known companies from all over the world since 2006 all over the U.A.E (Jam Wedding Planner, 2017). The most noticeable trend in all the Russian HNWI weddings are the over-the-top flower decor. Most of the reports say that the flowers used in some of the weddings are imported from France. However, no article revealed the name of the supplier. Based on research, these luxury florists are not widely publicized as they exclusively cater to the elite. It is suggested for DLP to work with the planners and organizers to reach out to these highly exclusive suppliers.

5.4.5 DEBUTANTE Based on the case studies, Debutante Ball is another life celebration that is significant to Russian HNWIs. It has a very rich history and tradition and families spend a lot of money to prepare for this event. To tap this market, it is suggested for Disney Business Solutions to contact the organizers of the Top 3 Russian Debutante Balls as discussed previously in this study. The famous Russian Debutante Ball in London reaches out to the Russian elite in the United Kingdom. It is anticipated by the Russian HNWI community there and attended by the most distinguished guests. Dr Elisabeth Smagin-Melloni, an expert in the industry, is the organizer of the annual event. She is the founder of ESM Event Management which has been staging extravagant balls in Europe and Russia for the past 12 years. (“The Russian Debutante Ball in London”, 2016) Another famous Debutante Ball is organized by the Tatler Magazine. Now on its 6th installment, the Tatler Debutante Ball gathers the most influential and famous Russians. Taking part in the event is a great opportunity for DLP to get in contact with the elite Russians. DLP can get in touch with Conde Nast or Tatler Russia. Lastly, the Viennese Debutante Ball in Moscow is the largest ball in Russia. To discuss opportunities in this event, Disney Business Solutions can contact its Russia-based organizer LLC.

5.4.6 GRADUATION Russians celebrate graduation like no one else in the world. There are festivities all over the country and it is celebrated by each city, school, and family. It is that time of the year when the parents form a special committee to organize a ball for the graduates. Afterwards, each family privately celebrates the milestone of the

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graduate. According to our interviews, both the graduation ball and private party are very festive and extravagant. It has a huge potential for developing into a destination event. Here, it is suggested for Disney Business Solutions to invite the schools to have an extension of their celebration in Disneyland and for the families to do as well. To penetrate this market, Disney Business Solutions can contact the top private schools in Russia, where Russia’s HNWI send their children, in order to discuss the potential of the school hosting their graduation ball at Disneyland Paris. Meanwhile, reaching the Russian HNWI families can be done through the luxury agencies discussed earlier.

5.5 PRESENTING AND DELIVERING THE PRODUCTS In order to maintain the exclusivity of hosting an event at Disneyland Paris, the products/services proposed in this report must be presented both to the partners (e.g. luxury agencies), to the HNWI population and to potential clients in a personalised, imaginative way. It is not recommended to use mainstream forms of promotional material such as radio or television advertisements (as discussed in previous section), as this could give the potential clients the impression that Disney Business Solutions are targeting the mass public, which then negatively impacts the reputation of exclusivity for HNWI. Different forms of product presentation will be suggested in this report, divided into potential tools to captivate the market and proposal presentations for prospective clients.

5.5.1 TOOLS TO CAPTIVATE THE MARKET Before the client comes the promotion and captivation of the target market’s interest. As previously discussed, this can be done through fairs, luxury agencies or suppliers. The following suggestions are to be used through the access channels in order to captivate the market. VIDEO BROCHURE Video brochures are perfect tools to distribute as promotion at the luxury fairs, or to post as they are lightweight, compact and inexpensive to produce. They consist of a two-page open out brochure, with a LED screen on the inside right-hand page which can play a 2-minute video (see figure 8). This video should showcase Disneyland Paris as a destination venue, as well as what is possible for an exclusive event at Disneyland Paris, keeping in mind the expectations and lavish interests of Russian HNWI.

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Figure 8.

(pinterest.com) VIDEO TRINKET BOX Alternatively, for agencies that are sought-after partners, Disney Business Solutions could go one-step further than a video brochure, and send (by mail) a video trinket box to each of the agencies (see figure 9). The outside of this box can be customised and once opened, it will reveal a LED screen that will play the video (as described above), and a short ‘once upon a time’ story that highlights Disneyland Paris’ key strengths as a destination venue for exclusive events (see figure 10). Underneath the fairytale story, the box may also contain smaller promotional materials or exclusive ‘treats’ for the agency. The benefit of the video trinket box over the video brochure is that it is much more exclusive and less common. This means that the agencies will remember this promotional material over others that they receive, and should feel a sense of exclusivity and VIP status with this promotional tool. This will create a positive image among the agencies of Disneyland Paris as a

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destination venue, and will add to the magic perception of hosting a private event at Disneyland Paris. More importantly, a video speaks a thousand words, therefore the video can connect with the viewer on an emotional level without any language necessary. After all, Disney Business Solution’s slogan is ‘Turning events into emotions’. Figure 9.

(pinterest.com) Figure 10.

(pinterest.com)

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5.5.2 PROPOSAL PRESENTATION TO CLIENTS Once the target is interested in hosting their event at Disneyland Paris, they expect to continue to be impressed by Disney Business Solutions. This can be done through the presentation of the event proposal, created based on the expressed interests and expectations of the prospective clients, in order to establish a relationship between the clients and Disney on an emotional level. The following are unique, potential ways to present the event proposal to clients in order to establish this emotional connection. PERSONALISED FAIRYTALE BOOK Whether the private event is a wedding, a debutante ball or a graduation ceremony, all of these events can be portrayed in a fairytale story. Many females of all ages dream of being a princess, especially a Disney princess, whether they’re 14 or 40 years old. The client can be transported into their fairytale event through a traditional fairytale book, personalised to their event (see figures 11 and 12). The fairytale book will tell the story of their event, giving the clients the opportunity to visualise their event and dream of the possibilities. This is the purpose of fairytale books, after all: to make the reader dream! This presentation will make the clients connect on an emotional level with hosting their event at Disney, sparking desire to host their event at Disneyland Paris creating loyalty to Disneyland. This fairytale book could even be written in Russian (by a certified translator), in order to maximise the emotional connection felt by the potential clients. Figure 11.

(pinterest.com)

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Figure 12.

(pinterest.com) CRYSTAL BALL Who wouldn’t want to look into the future and see the event of their dreams? This is possible with the crystal ball! Potential clients are invited to look into Disney Business Solution’s crystal ball (see figure 13) and view what their private event would look like at Disneyland Paris (see figure 14). This will be achieved through projecting a video into the ball (technology that Disneyland Paris already has on display at its Haunted House attraction), so that when the potential clients look into the ball they will see a short video, personalised to their event, showcasing what the event could look like. Whether they see themselves riding into their debutante ball at the Princess Castle on a horse and carriage, or picture their graduation party surrounded by their favourite characters, they are sure to be impressed by this unique presentation. This matches Russian HNWI’s expectations as it is exclusive, unique, personalised and will make them feel like a VIP. Furthermore, as language is once again not an issue here as it is a video rather than discourse in French or English, the potential clients can truly connect emotionally to the proposed event.

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Figure 13.

(pinterest.com) Figure 14.

(pinterest.com) Disney Business Solutions’ continuous creativity throughout the promotion and client proposals will constantly add to the emotional relationship felt between Disney and both the agencies and clients, satisfying Disney Business Solutions’ slogan: Turning Events into Emotion.

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6.0 RECOMMENDATION Below are the key recommendations on how to develop the Russian HNWI market, which events hold the most probability of success and the key factors to ensure success within this market. TARGET MARKET: Penetrate Russian market, re-examine Kazakhstan in 5-10 years, consider rich Azeris living in Russia. The research reveals that Russia is one of the world’s top countries with the most number of HNWI. Is it also important to note that their wealth is expected to grow even more by 45.7% from 2014 to 2019. It is suggested for Disney Business Solutions to penetrate this market as the Russian HNWI population were found out to invest huge amount of money on private celebrations. Strengthening this motivation is the fact that these events were proven to be celebrated all over the world, revealing a destination events trend present among the Russian HNWI. Meanwhile, research on Kazakhstan shows several similarities of its HNWI population to the behaviour of the Russian market. They tend to follow the trends in Russia, however, their current events industry is behind by a couple of years. It was found out that they do spend money on celebration but do not bring these events abroad. There is no destination events trend yet. It is therefore suggested for Disney Business Solutions to re-examine the state of the market in Kazakhstan and its HNWI population behavior in the next 5-10 years. They have a huge potential to follow the Russian trends, therefore, they might be a viable market in the future. Lastly, the study shows that Azerbaijan’s HNWI population are highly attached to its religion and culture. This reflects in their life celebrations which are very traditional, accompanied by a lot of local customs, and are done within the country. They show no interest in doing their events abroad in the near future. However, it is important to note that some Azeri HNWI have dual Russian citizenship and actually live there. Upon targeting the Russian HNWI market, Disney Business Solutions might be able to tap into this small Azeri population at the same time. Hence, it is suggested for Disney Business Solutions to focus on penetrating the Russian market with an open eye for the Azeri market that might be present. Living in Russia and actually being Russian citizens as well, this small Azeri HNWI market have more potential on following the Russian destination events trends as compared to the HNWI living back in Azerbaijan.

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CLIENT EXPECTATIONS: Fulfil top 6 expectations of the Russian HNWI clients when proposing and creating events: Quality, Exclusivity, Uniqueness, VIP Status, Personalisation, Privacy. To successfully attract Russian HNWI to host their private events at Disneyland Paris, it is recommended for Disney Business Solutions to fulfil the expectations of the clients. The top six expectations of the Russian HNWI were identified in this research and these should be used as a guide when creating the proposals or organizing the event itself. These are Quality, Exclusivity, Uniqueness, VIP Status, Personalisation, Privacy. What Disney Business Solutions can do to match these expectations are explained in detail in the Synergies section. If these suggestions will be considered, there is a high potential to fulfill - if not surpass - the expectations of Russian HNWI clientele. PRODUCTS TO OFFER: Offer weddings, bachelorette parties, debutante balls, graduation parties, and bar/bat mitzvahs. Based on the study, there are two sectors of the private events industry in Russia where the HNWI spend the most money on. First are the wedding events which include wedding itself and bachelorette parties. Secondly, youth events which are divided into graduation parties, debutante balls, and bar/bat mitzvahs. It is recommended for Disney Business Solutions to focus on these products as these have been proven to be following the destination events trend. Other solid factors why these should be offered are they can be themed events, gather hundreds of guests, demand for French touch, and are generally in line with Disney’s brand and values. PRODUCTS NOT TO OFFER: Place less priority on the following events: New Year, Christmas, Wedding Engagement, Birthdays, Russian traditional holidays. There has been no sufficient proof found that Russian HNWI follow or apply the destination events trend on these celebrations. Whilst it is true that these celebrations can be big and festive, they are known for being celebrated within Russia itself, not abroad. Hence, serving no to low business interest to Disney Business Solutions. KEY SUCCESS FACTORS: Carefully follow the enumerated factors during market development and implementation stage to ensure success in client base-building and the event itself.

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Studying the demographics and behaviour of the Russian HNWI market, several factors have been determined which could make or break a deal with them - with trust being the most important. The other factors are ensuring an exclusive/private event, affinity to Disney, strong relationships with agencies, word of mouth and communication. Successfully building and developing the target market base is heavily dependent on whether Disney Business Solutions will be able to observe the abovementioned factors. It is suggested for these factors to be carefully followed. Otherwise, there is a possibility of generating bad word of mouth, threatening the credibility of Disneyland Paris, agencies negatively representing Disneyland Paris, and miscommunication.

HOW TO REACH THE MARKET: Contact and connect with luxury fairs, silver rain radio, luxury agencies, luxury suppliers, and ball organizers. The research reveals that it is difficult to reach the Russian HNWI directly. They tend to be secretive, do not easily trust, and are not comfortable communicating in a foreign language. Hence, the role of a middle man between them and Disney Business Solution is extremely vital. To penetrate the Russian HNWI market, it is recommended for the following access channels to be utilized: luxury fairs, silver rain radio, luxury agencies, luxury suppliers, and ball organizers. These suggested contact points provide the perfect venue for building the network of Russian HNWI with Disney Business Solutions.

HOW TO PRESENT TO THE CLIENTS: Use innovative and visual presentation tools to establish emotional connection and avoid mainstream promotion. As mentioned in the earlier part of this research, many Russian HNWI may not speak French or English, or may not feel that they have a sufficient level to efficiently communicate their needs. Hence, language barrier poses a huge challenge. With this, several tools are recommended to surpass this difficulty. These are Video brochure, Video trinket box, Personalised fairytale book, and Crystal Ball. Each is individually described in the How to Present/ Deliver section. The main reason why these specific tools are chosen is because these capture the emotions of the clients without the need for words. For example, the video can connect with the potential client on an emotional level without any language necessary. These tools are very visual and unique which are sure to establish a positive perception of the DIsney services with the clients.

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7.0 CONCLUSION This research was aimed to create a development plan for exclusive events at Disneyland Paris with a targeted focus on high net worth individuals (HNWI) in Russia, Kazakhstan and Azerbaijan. In conclusion, Russian HNWI follow the destination events trend and it is therefore highly recommended to penetrate this market. Additionally, it was found out that their wealth continues to grow and a large part of this wealth is invested on private celebrations. HNWI in Kazakhstan show a tendency of copying the trends present in Russia. With this, there is a huge potential of destination events trend spreading in this market too. It can be concluded that Kazakhstan is not ready for bringing their celebrations abroad yet but it might be fruitful in the long run to re-examine its potential in the next 5-10 years. Meanwhile, private celebration by the Azeri people are usually very cultural, religious, or ritualistic. They express no interest in doing their events abroad in the near future. However it is noteworthy that several HNWI live in Russia or has a dual Russian citizenship. In this case, penetrating the Russian market could also be reaching out to the Azeri HNWI at the same time. In studying Paris’ status as a destination of choice by the Russian HNWI, it has been proven that Russia has a long-standing love of France. Historically, they have developed a high regard for French fashion and luxury since the 18th century. This affinity to French culture continues today. In the wedding section of this study, French themed celebrations and French suppliers are highly demanded. This is mainly because the Russian HNWI perceive French brands and products as luxurious and extravagant. It is therefore concluded that Paris is a top destination pick of the Russian HNWI. With the positive reputation of its location, Disneyland Paris can enjoy a huge advantage as compared to its neighbouring cities or countries. This research also discovered the top six expectations of the Russian HNWI clientele in terms of services they subscribe to. The study shows that Disney Business Solutions has all the resources and capabilities to match, if not surpass, the listed expectations of the clients. Top Disney offerings that will fulfil those expectations are Disney brand itself, limited number of exclusive events held at Disneyland Paris, ability to organize customized private event in Disneyland Paris, ability to adjust to any requests by working under the idea that “anything is possible”, and lastly, the ability to privatize sections of the park just for the clients.

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Based on the case studies, it is undeniable that Russian HNWI wedding is the most viable exclusive event that Disney Business Solutions could tap. This celebration is heavily invested upon by the involved families. They exert a lot of time, energy, and most especially money, to make sure that they outdo the events of their peer and the whole world. Other important life celebrations for them are graduation and debutante balls, with a new trend for bachelorette parties, and additionally bar/bat mitzvahs for the Jewish community. It can be concluded that weddings is the biggest market for destination events among Russian HNWI. Lastly, there is a huge opportunity to bring debutante balls in Disneyland Paris. Trends in this market include being extremely extravagant, attended by hundreds of guests, and most importantly, held in different European cities. It is recommended for Disney Business Solutions to create its own International Russian Ball that will gather debutantes from all over the world. This is expected to be a huge success as Russian HNWI like to expand their network as much as possible, and many reside in London. To conclude, the Russian HNWI market shows huge potential for Disneyland Paris in terms of hosting exclusive events, especially the above-mentioned. Through using the correct access channels and meeting the Russian HNWIs expectations, Disneyland Paris can build a renowned reputation as a premier destination venue among Russia’s HNWI community.

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8.0 APPENDIX

8.1 APPENDIX 1 Email interview with Victoria Yakusheva, a Disney employee in Russia. Question: What is the perception of Disney in Russia? Answer: In brief, perception of Disney in Russia is great, brand is being built (and made locally relevant) for last 10 years. Is Disney a brand that resonates with people of all ages in Russia, or principally only with millennials? It absolutely resonates with all ages. In Western European countries such as France and the UK, many people feel a strong emotional connection with Disney. Do you think this is the same for Russians? it’s absolutely same (if not bigger) emotional connection with Disney in Russia.

§ Nearly universal Disney awareness in Russia - 97% § 55% have positive opinion about Parks (among aware of Disney), growing –

top 5 in the world: iconic, best part, dream come true What birthdays are important in Russia? 0-1-5-7-16-25 y.o. What specific attributes do HNWI look for when planning/ organizing an event? The most important thing usually is they want to feel themselves special/VIP/no-one else could have it (language is very important) + coverage of this events\special guests\even extraordinary budgets. Apart from previous, common denominators don’t really exist – it has to be tailor made – sometimes lux, sometimes discreet - somebody would like to fly over by helicopter above parks/some travel in carriage with horses in parks/some be served by Princesses in the room. Do these celebrations sometimes last for days? Or just one day? Wedding can be 2 days, all others are within a day, but if people travel to celebrate it can be 3-4 days.

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Are graduations (when finishing school at the age of 18) largely celebrated in Russia? How is this usually celebrated? Graduation from school 16-17 y.o. (now even from kindergarden 6-7) around end-May are important and largerly celebrated – could be good opportunity to come to DLP… afterwards. Have to take into account, that HNWI send their kids to study\graduate abroad. Is the Victory Parade/ Celebration always a big thing yearly? Do Russians create their own private parties for this day? Victory Parade/ Celebration is a big thing yearly, Russians celebrate with families, but it’s very in-country celebration – we won’t travel to celebrate it, expect any celebrations outside the country.

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8.2 TRANSCRIPT 1 Telephone Interview with Charlene, who works at Life Plus, a luxury events agency in Monaco. Emma: So, my main focus is on private events, and in particular for the Russian market. Being based in Monaco, do you have many Russian clientele? Charlene: I don’t know what you mean by ‘many’, but we have more, like, 2 years ago, and now we have some clients still. E: Okay, and they come for private events like birthdays or weddings? What kind of events do they come for? C: Yeah it’s more for private events. E: And the most popular is…..weddings? C: I would say weddings and parties. E: Right, general parties. C: Yeah. E: Okay. And within those – I’m sure it’s the wealthy Russians who come to Monaco to celebrate things like weddings – do you see many trends in the things that they look for in their parties and their weddings? C: I didn’t get this one. E: Do you see any trends…any ‘tendance’? C: Oh trends. Okay…not really. I would say they like flowers, and they like shiny stuff….but I don’t see other trends right now. Yeah maybe, like last year we had a Gatsby party. E: Okay. So they prefer luxurious events rather than discreet events? C: Yeah. It was more classier for this kind of parties. E: And so the events that they have, do they prefer to have more modest events or do they prefer to show their wealth?

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C: I would say it really depends on the person. E: Okay. So within the Russian clientele you have both? C: Yeah it depends on their personality and whether they live in Monaco or not. Just what they are, really. E: Do many of the Russian people come from Russia especially for this event? Or do most of them live in Monaco? C: Most of them either live here or have a house in the Cote d’Azur. E: Okay, right. Why do you think the Russian people are attracted to the Cote d’Azur? C: I think maybe first because of the climate. I think also Monaco really promotes the city around the world. The government is going to some events in Russia…it promotes really the country. So I think it’s also that they know it well. E: Right. Do you think they’re also interested in other cities in France like Paris? Or principally just Monaco? C: That’s a good question, because I’m not going so often in Paris, so I don’t really know if they’re going there.

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8.3 TRANSCRIPT 2 Telephone interview with Emily from Pulp Events Monaco. Chlyde: Have you had any Russian clients? Emily: Yes. What would you say are the events that you do for them? It depends. It depends on the Russian clients. From your previous events, what have you already done for them? Birthday, mostly birthday. Or party. Or we organized also travel. Have you organized any weddings for them? Weddings? Yes. Have you noticed any trends or unique requests from these Russian clients? They ask for everything. Could you give an example? Like, they ask for the venue, for the catering, the flowers, the decoration, they ask for everything. Would you say that they like very luxurious, extravagant events? Or very discreet and intimate? Most of the time it's very luxury events. But they want it at the same time to be discreet. Which part of the event would you say they spend a lot of money on? I don't know. Everything is expensive here. Have you had any requests for Bar Mitzvah celebration? Yes, we have a lot.

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Have you had any Russian clients for this? Yes. We have a lot of clients from Russia. In this Bar Mitzvah celebration, would you say that it is very luxurious, traditional, or discreet? Very luxurious. For the ceremony, do they do it in the synagogue or on your event venue? It depends. Mostly in the synagogue. But for the celebration, they do it on a different venue? Yes. What kind of other events do you do for your Russian clients? For example, formula 1. Or we rent a yacht. Do your Russian clients from Russia itself or are they from Monaco? It depends. We have some clients who are from Russia. But mostly, they come from Monaco. These clients, are they from upper class or are they the millionaires and billionaires? Millionaires mostly. Do you think they would be interested in creating their events in Paris or London or any other location? Yes, they really could ask for that.

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8.4 TRANSCRIPT 3

Telephone interview with Tatiana, a Russian professor at the Russian Cultural Centre in Paris. Emma: So, you talked about the end of school…you said that there is a special day for the end of school? Tatiana: End of classes, yes. E: What is this day called? T: The Last Bell. E: Is it a big celebration? T: Yes yes yes. It is throughout all the schools, without exception, and it’s a celebration called ‘the last bell’, for students in their last year of high school. E: Okay. And after, is there a ceremony? T: It’s not a ceremony; each school does something in their own way. There is normally a party, students prepare a concert or something like that. E: The families also celebrate this? T: That’s after the exams. E: Ah okay, after the exams – in June? T: Yes at the end of the exams, at the end of June, after the students take their final exams – equivalent to the BAC. After, they have a ball – an ‘end of school ball’. E: And this ball is organised by the student’s family? T: The families finance it. E: Is it organised by a committee? T: Yes, the parents committee. They book the location, they buy the flowers, they reserve the tables, etc. E: And after, each family has their own individual party?

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T: Of course! Each family does as they want. E: And did you say before that there aren’t any special birthdays in Russia, such as 18 and 21 years old in England? T: No, those birthdays aren’t big parties. It is the round numbers that we celebrate: 20, 30, etc. which are much more important for us. E: Okay. T: 21 we never celebrate, it’s not special. E: Okay. You also explained that the main religion in Russia is Russian Orthodox? T: Yes, orthodox. E: That’s the religion for the majority of the population? T: Yes. E: Is the new Russian Orthodox Church open in Paris now? T: Yes its open. E: Do lots of people go there? T: Yes, lots. But actually there are quite a lot of French people. They are curious, they want to see what is happening inside, etc. But they aren’t loyal. They go in, go out, in, out, etc. But there are lots of people there. E: Okay. And in Russia, is it important to host weddings in a church? T: The couple decide. If they’re orthodox, of course they go to the church. But it’s not obligatory. The civil ceremony at the Town Hall is compulsory. E: Like in France? T: Yes, like in France. So if you want to have your wedding service at the church, you have to already be officially married at the Town Hall. E: After the ceremony, is it normal to have a big celebration? Or does it depend on the family?

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T: After the ceremony? E: Yes. T: Of course, it’s a big party! Marriage is always a big party, like everywhere. E: Yes, but now in certain places such as France, it is becoming more normal to have a small party just with close family, not a big party. T: Yes, I’m married to a French man, there was only a dozen people at the wedding here. E: Is it like this in Russia? T: No, it’s not like that in Russia. For me, this was my 2nd wedding. In Russia, maybe it’s also discreet for the 2nd wedding. E: But a 1st wedding in Russia is normally a big celebration? T: Yes, a big party. A big celebration, also the parents from each side finance it….if they can finance a huge party with nice cars, flowers, all of these things then they do. If they cant afford it then they don’t. E: Okay. Last question, if you think about Russian families with lots of money, based on what you have seen, do they normally have discreet parties or is it always luxury? T: Always luxury. They like to celebrate abroad, in Vienna, Paris, etc. They like to go over the top, with the most chic restaurants, etc. But that’s only the very rich people. They’re another E: I imagine that weddings for rich families are also more luxury? T: From what I see on tv, for example, an opera singer got married to another singer – I saw a report on tv – and it was huge: real horse and carriage, it’s another world. They celebrated the wedding in Vienna. E: Okay. Thank you very much.

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8.5 TRANSCRIPT 4 Telephone interview with Virginia from Monte Carlo Societe des Bain de Mer Chlyde: What are the common events that you do for Russian clients? Virginia: I would say, individual stay, individual reservation. Do you also do private events like weddings? Yes it happens. Would you say that this is a common request that you get? Yes. What are the unique trends or requests that they ask in terms of planning the wedding? No, not special. For example, do they like flowers or do they like anything very shiny? Yes, a lot of flowers and regarding the food, everything, all the meals at the same time in the center of the table. Which part of the event do they mostly spend on? I would say decoration and drinks. Have you had any very special or unique requests? I remember a very very big venue which is usually for 400 people, and there were only 35 people. What occupied the rest of the space? Decoration. And very very big table for 35 table. Do your Russian clients come from Russia or do they live in Monaco? No, they live in Russia usually.

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Could you tell me how much they usually spend on events? No, I wouldn't be able to tell you but A LOT of money. Big big. And would you say these are upper class or the big millionaires? Big millionaires. Have you had any requests for Bar Mitzvah celebrations? Yes we do. Do you have any Russian clients for this or what nationality do they come from? Israel. In terms of celebrations, are they luxurious or do they still like the traditional or very discreet celebration? Very traditional which is not always easy for us because of the *inaudible* But for their ceremony, do they do it on the event space and not the synagogue? Usually in the event venue. Based on my previous research, more and more people do the ceremony in these destinations and not in synagogues anymore. Would you say that this is a trend? Yes, I would say so. But you haven't had any Russian clients for Bar Mitzvah? Uhm, maybe yes. But it’s not very significant? Yes. Do you think they only like Monaco that’s why they go to you or these clients are also interested maybe in Paris or London?

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I would say Paris can. London, yes. May I ask why? Do you know the characteristics that they look for? Yes, their reputation I think. The reputation of the location? I think so. Is it because they do like very lavish and very extravagant location? Yes. Yes. Do you only do mainly weddings for Russia or have you done any.. for example, graduation, bachelorette parties, or birthdays? Birthday, yes. Graduation, I don't remember. For bachelorette? Not too much. Not too many.

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