Off the Cuff: A Q&A with Baccarat’s Adam Banfield

May 9, 2025

Adam Banfield is president and CEO of Baccarat North America

“Off the Cuff” is a Q&A series from Luxury Daily exploring the career paths, current projects and next steps of those shaping the world’s best luxury brands.

The interviews feature a Proust-style twist, allowing readers to get to know industry leaders on a personal level. This edition features Adam Banfield, North American president and CEO of French crystal maker Baccarat.

In this Q&A, Mr. Banfield discusses early lessons from, and current-day love of, skiing, an extended real-life lunch with a culinary legend and the joy of a perfect toast.

Here is the dialogue:

What was your first job ever? What did it teach you?
Working part-time in a ski and snowboard shop while in college.

This taught me that there is importance in even the most menial tasks, like putting away and organizing rental boots. I took great pride in doing the job well because I loved where I was, what I was part of and the skiing industry as a whole – and I still do.

Which skills have been critical to your success? Did you gain these skills within or outside of the workplace?
I’ve found some of the most valuable skills are soft skills, like empathy and being able to manage stress. I appreciate having had managers that were consistent in their approach and demeanor.

I’ve had mercurial bosses whose management style was inconsistent, where you wouldn’t know what you’d get on any particular day, which just added an unnecessary layer of anxiety and which I found to be counterproductive. This style of leadership, I think, is both selfish and short-sighted.

What is the best piece of advice you’ve ever received?
My grandfather was a carpenter by trade and a big father figure in my life. As a kid I used to love watching him in his workshop, admiring how well-organized it was and how everything had its place.

He would always say, “If a job is worth doing at all, it’s worth doing properly.” I’ve carried that with me my whole life.

How has your field changed since you started out in luxury, and what do you think your industry will look like in a decade?
The luxury industry experienced unprecedented growth during COVID-19. Deferred student loans, government subsidies, low interest rates, etc. all lead to high levels of disposable income, especially here in the U.S. The global industry has grown at a pretty even 5 percent clip over the last 20 years, but exploded to 18 percent during the pandemic.

What we’re seeing now, therefore, is a recalibration back to more sustainable rates of growth.

I think luxury will only continue to bifurcate between those who appreciate timelessness and those who gravitate toward trends. Above all else, I think luxury will become even more about finding meaningful moments of refuge and solace in an increasingly hyperconnected and information-heavy world.

What recent projects have ignited your passion for working in luxury?
I’ve been very fortunate and blessed to have met some incredibly talented individuals in my career who, more importantly, are great people. A good friend and luxury hotel stalwart, Ed Mady, is about to launch a book entitled "Honing the Human Edge."

I’ve preordered 11 copies for my leadership team, and I can’t wait to unpack everything Ed has to share from his career managing iconic luxury hotels like The Beverly Hills Hotel, The Dorchester Collection and, of course, the Baccarat Hotel.

Who, in any industry or sphere, would you most like to share a long lunch with and where would you take them?
I’m not sure I have any one particular person I’d most like to have lunch with, but I can tell you the person who I appreciate most having had lunch with is the legendary French chef, Alain Ducasse.

In what was only meant to be a quick 10-to-15-minute mid-morning meeting at his restaurant here in New York, Benoit, Monsieur Ducasse sat my colleague and I down and extended the warmest and most sincere hospitality I‘ve ever experienced over the following two to three hours. Our day’s agenda was destroyed, but it was most certainly worth it.

How do you get into the right mindset before a big meeting or presentation?
Preparation, preparation, preparation. I try to anticipate each scenario and be ready to respond accordingly.

Also key to presenting is knowing the audience you’re presenting to and their roles and priorities.

On your days off, what can you be found doing to relax or have some fun?
If I’m feeling active and the weather’s nice, I love going for a run with my kids, playing golf or enjoying wine with my wife on our back deck while the sun sets. In winter, it’s all about trying to get as many days on the snow as possible.

What does luxury mean to you?
Making people feel esteemed.

Whether a product or service/experience, what is your favorite luxury indulgence?
The sound of a room of Baccarat glasses coming together in cheers for a moment of celebration and joy.

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Off the Cuff: A Q&A with Baccarat’s Adam Banfield

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