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The Luxury Item is the leading podcast on the business of luxury, and an important resource for global industry decision makers who want to stay one step ahead. Listen to insightful conversations with leaders of the world's most influential luxury brands as they share the latest trends, insights, and strategies that are helping them forge a strong path forward.
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Scott Kerr
[Narrator]
You’re listening to The Luxury Item, the podcast on the business of luxury and the people and companies that are shaping the future of the luxury industry.
Here’s your host, Scott Kerr.
Scott Kerr
Among the plethora of camera brands on the market, none is as synonymous with luxury as Leica.
For over a century, Leica has been crafting cameras that are renowned for their precision, craftsmanship, and innovation, and is one of the most revered names in photography.
Last year, Leica celebrated the 100th anniversary of the Leica I camera, the first 35 millimeter camera to be mass produced, transforming the status quo with its portable design and compact size.
It exploded a genre, street photography, that undoubtedly altered the public’s perceptions of the world.
Many of the most iconic photographers in history have shot important work on Leica cameras, contributing to the brand’s outsized role in 20th century visual history.
My guest on The Luxury Item is Mike Giannattasio, president of Leica Camera Americas.
In his role, Mike leads the iconic brand’s growth across the US, Canada, and Mexico.
With a career spanning more than two decades in luxury goods and consumer products, Mike Giannattasio is known for his innovative leadership and strategic vision.
Under his leadership at Leica, the brand has strengthened its position at the intersection of photography, art, and craftsmanship, fostering collaborations with leading artists, photographers, and innovators.
Prior to Leica, he held executive roles at Richemont and LVMH, where he honed his expertise in building and transforming luxury brands.
Welcome to The Luxury Item, Mike.
Mike Giannattasio
It’s a pleasure to be here with you, Scott.
Scott Kerr
Thanks so much for joining me.
I’ve been really excited to have you on.
As everybody knows, Leica Camera is renowned for making premium, precision‑engineered cameras and lenses for serious photographers and is a historical pioneer of 35 millimeter photography.
But Leica’s roots actually go back to 1849, when it was founded as an optics workshop in Wetzlar, Germany, producing lenses, glasses, telescopes, and early microscopes.
This is long before Leica cameras actually appeared, which was in 1925.
So how did Leica’s core business evolve into building cameras?
Mike Giannattasio
Optics are an incredibly essential part of color science and of capturing light, and Leica glass is so important to the final product.
In 1849, the company was founded by Carl Kellner in Wetzlar.
Shortly after that, Oskar Barnack joined the company.
He was an avid photographer and he also had asthma, so for him, wanting to make a light camera—something that he could carry around—was very important.
He wanted to make large images from something very small.
In 1914, Barnack created the Ur‑Leica by using 35 millimeter cinema film and turning the film sideways.
Today, you cannot have a conversation about cameras or film and not include Leica in that conversation.
In the 1920s, given the historical moment, it was risky for a brand to do this.
I know that today there are other brands that use phrases like “just do it,” but Ernst Leitz II, when he decided to commercialize photography, said, “I hereby decide we will take the risk to create the first portable camera.”
So from 1849 to 1914 and then to the actual production of the first camera, there is this long history of optics, engineering, and the desire to create something.
In the end, most inventions come from a desire to create something, and that really is Oskar Barnack wanting to create a portable camera that can give you big images.
Scott Kerr
As successful as Leica is, it has had its own challenges as a company and was late and somewhat resistant to digital, as well as facing intensifying pressure from smartphones.
In the early to mid‑2000s, Leica had to reorient its strategy to survive.
What’s interesting to me is that while smartphones became the default camera, Leica responded not by competing on cheap hardware but by doubling down on premium German‑made cameras and partnering with smartphone makers to put Leica‑branded imaging into phones, recognizing them as opportunities to expand Leica’s brand reach and gain mobile industry experience.
From a brand identity standpoint, that was a pretty big gamble for the company.
Why did it work?
Mike Giannattasio
I think it works because, first of all, we celebrate anytime someone takes an image.
Regardless of what type of equipment they are using, they are memorializing a moment and celebrating a moment in their life.
It’s interesting that people think Leica competes on those specs; we really don’t.
It’s about teaching that first generation of mobile users what it would look like to shoot with a Leica camera—showing the contrast, the depth, the color science.
There is a feeling, the “Leica look,” as it’s often called.
By putting Leica optics in phones, we reach millions of people that we would never be able to reach if their first experience had to be through a rangefinder.
It would be very uncommon to imagine someone’s first experience with photography being directly through Leica.
By partnering with the phone industry, we create a gateway for the brand.
Leica gains insights into mobile photography, and users gain the experience of what the Leica look is really like.
For me, it’s similar to my time at Montblanc.
I worked at Montblanc for 15 years, and when we were there and big‑box office stores and computers were on the rise, people thought writing was going to be dead.
In fact, the reverse was true.
Technology and democratization created a bigger platform and a wider audience.
So this technology should aid and help.
When people are comfortable using photography in mobile technology, they will adapt and become curious about discovering what it’s like to shoot with a “real” Leica once they understand the color, the science, and the feeling they get.
Luxury products with heritage are about the feeling they create and the feeling they give.
Scott Kerr
Despite everybody using their smartphones as cameras, point‑and‑shoot cameras have actually been making a notable comeback, and younger photographers are discovering dedicated cameras and consciously choosing low‑tech tools, which have been benefiting brands like Leica.
What do you think has been driving this genuine revival?
Is it being driven by technological innovation, by content‑creation trends, or is there some greater cultural shift going on?
Mike Giannattasio
I do believe there is a greater cultural shift going on.
A lot of luxury and premium brands are now faced with the challenge of really being authentic and sharing their story.
What makes photography and Leica interesting at this moment is exactly the onslaught of AI.
What is real and what is not real?
A brand like Leica gives the consumer authenticity, history, craftsmanship, and durability.
In a world where we talk about sustainability, Leica is built as a sustainable brand.
People are using cameras that were built in the 1920s, 1930s, and 1940s.
At the core, Leica and photography are striking a moment because the ability to capture a moment gives people something real.
There are plenty of images being created, but there is something special about slowing down and taking that shot and celebrating that moment.
I’m of the age where I go back and look at photo albums with my family and think about those moments.
I think there is a new audience today that is longing for that sort of connection.
Scott Kerr
Leica itself has been on a hot streak, experiencing a notable resurgence in both sales and cultural relevance over the last several years.
Last year was Leica’s 100th anniversary.
It achieved record sales for the fourth consecutive financial year with the highest revenue in its history, along with continued profitability.
While Leica has diversified, the success has been driven by its bread and butter—the classic cameras and premium lenses.
Is this growing hunger for “real” photography part of the reason for Leica’s strong growth?
Mike Giannattasio
I believe the reason for Leica’s strong growth has been its long‑standing commitment to craftsmanship, authenticity, and the celebration of humanity, and to honoring the community of people who use the camera or instrument.
In a world where everyone can have a sophisticated camera, we’re seeing the opposite at Leica.
People are really holding on to the experience you get when you hold a Leica camera.
It goes back to what you feel when you put a Leica camera in your hand—the weight, the simplicity of the way it’s built.
It invokes a very personal relationship between the user and the moment they are experiencing.
Leica doesn’t get in the way of that moment; it enhances that moment.
Leica’s commitment to the essentials and keeping things super simple is at the core of why people relate to it.
It’s super intuitive and very easy; there isn’t built‑in complication.
While the product is technical, the user experience is simple.
Scott Kerr
Outside of cameras and lenses, are there adjacent business areas you’re aiming to grow?
Mike Giannattasio
Today our customers are really demanding that Leica build products that marry their lifestyle.
When we started our conversation, we talked about glass and how Leica glass is what makes Leica so special.
You’ll find Leica in optical equipment and sport optics—binoculars for the opera, bird‑watching, or hiking.
We’re also using our lenses in Leica laser projectors to bring a cinematic experience into the home.
We continue to grow in those areas.
Most importantly, beyond glass there is another important part of what Leica does: on the Leica M system, we have the rangefinder.
Today we’re the only camera company making a rangefinder.
A rangefinder is this mechanical movement with over 150 moving parts.
Mastering the ability to make that rangefinder is very similar to the creation of a watch—understanding mechanics and glass and celebrating the moment.
So we’re also expanding into watches, cinematography, and further into sport optics.
Those are the areas where our customers are asking us to meet their lifestyle.
Scott Kerr
Many of the 20th century’s most iconic documentary and street photographs were made with Leica rangefinders, especially the early 35 millimeter models.
Alberto Korda’s legendary portrait of Che Guevara and Alfred Eisenstaedt’s iconic 1945 photo of a US Navy sailor kissing a nurse in Times Square come to mind.
Why were so many influential photographers drawn to Leica cameras?
Mike Giannattasio
Leica attracted these legendary photographers because we transformed the world of photography from a staged event into something more immediate and intimate.
Before the Leica I, everything was staged in a studio and equipment was not portable.
We created a whole new medium.
When people speak about disruptive businesses, Leica was disruptive.
The development of 35 millimeter film and of the first portable camera—the size and the weight—changed everything.
Legendary photographers could witness something without disturbing it.
When you hear the nearly silent shutter of a Leica click, that’s part of the appeal.
Leica cameras are made of solid brass, so they’re durable.
For all of these reasons, there is an affinity between these legendary photographers and Leica.
If you look at other historically important photographs, Sebastião Salgado’s work in the oil fires is an example; he used his Leica and has said that the Leica protected him and gave him the comfort to get so close to the scene.
You can imagine using another instrument where the product might have melted.
The way these products are built, the way they feel, and what the brand has done for photography are the reasons so many legendary photographers feel comfortable with Leica.
Scott Kerr
How much of your business is consumer driven versus professional photographers?
Mike Giannattasio
Today we serve different audiences and clients.
If we look at the Leica community, we have legendary photographers such as Steve McCurry, Alex Webb, Ralph Gibson, and Bruce Davidson.
We have aspiring photographers.
Then there’s a whole group of consumers—architects, doctors, attorneys—who really appreciate art and culture.
There is also another group: we’re living through historic times, and taking a camera out in the spirit of being a photojournalist or bearing witness to the world creates yet another area of our community.
We believe that everyone who takes a Leica into their hand—whether for personal or professional reasons—considers themselves a photographer.
Scott Kerr
Leica has long been considered a symbol of excellence, luxury, and innovation.
Its cameras function much like luxury watches—objects of desire and cultural capital as much as image‑making tools.
Leica cameras are famously expensive: new digital M‑series bodies often cost upwards of eight to ten thousand dollars, with lenses adding thousands more.
Like many luxury watches, Leica positions itself as a brand built on heritage, quality, and craftsmanship.
How does Leica cultivate exclusivity and legacy in its marketing strategies to maintain that aura of luxury?
Mike Giannattasio
It starts with the fact that we don’t view ourselves just as a technology company.
We are a company built on heritage, legacy, tradition, and craftsmanship.
In an era of disposable technology and endless buttons, we are bucking the trend.
We focus on the core photographic needs and on what the photographer truly needs, and we create a ritual that brings intentionality to the use of the product.
Like a mechanical watch, it’s about the soul and the tactile experience you have with the product.
One of our strongest marketing pillars is longevity over obsolescence.
Leica is an investment, not an expense.
We emphasize craftsmanship and long‑lasting value.
You can use a Leica lens from the 1930s on a new camera today and still use that lens.
Our commitment to quality and craftsmanship, our view of products as investments rather than expenses, and our commitment to repairing all of our products are core pillars.
I’m not sure if we were clever enough to design it that way or if our very discerning customers keep us honest and force Leica to produce products in that way.
Scott Kerr
You mentioned earlier that last year was your 100th anniversary, and under the theme “100 Years of Leica: Witness to a Century,” Leica marked 100 years since the 1925 Leica I with exhibitions and events in major cities around the world—New York, Milan, Tokyo, Shanghai, just to name a few.
The Leica I was the world’s first compact 35 millimeter camera to offer images in landscape format and pretty much set the blueprint for modern cameras and, by extension, the art of photography.
How did the original Leica I help define photography as a proper art form?
Mike Giannattasio
I truly believe that the Leica I created a whole genre of photography that hadn’t existed before, whether that’s photojournalism or street photography.
Being able to move without being encumbered by large, heavy equipment really changed the game.
Before the birth of the Leica I, photography was a challenging endeavor.
The Leica I changed the language of photography in three main ways as an art form.
First, the compact format allowed the camera to become an extension of the human eye.
You could carry the camera with you all the time and have a relationship with the world that had not existed before.
Because the Leica I was so small, you could tuck it in your pocket, bring it up to your eye quickly, and be fast and intuitive.
It allowed people to be spontaneous, to react quickly to a changing world.
The Leica I really changed the way the world sees and its ability to capture humanity.
Scott Kerr
What was the core idea behind the “100 Years of Leica: Witness to a Century” exhibition and the events around it that amplified Leica as a visual chronicler of the modern era?
Mike Giannattasio
“100 Years of Leica: Witness to a Century” was not about celebrating a camera.
It was about celebrating the idea of what the camera allowed the world to experience.
It was about celebrating humanity—the humanity the camera allowed us to see.
It was about shifting the spotlight from the tool to witnessing and giving photographers the power to document the world at its most pivotal moments.
In the world of AI and the flood of digital content, the value of authentic photographs means more today than ever before.
Our message to our community—whether they identify as photographers, storytellers, photojournalists, or creators—is that truth matters more in the world of AI.
We want them to feel that by choosing a Leica they are making a commitment to reality.
The purpose of a photograph is to stay connected to the world, not remove ourselves from it.
Scott Kerr
A lot has been written about the Leica community.
Some have described it as a distinctive, almost cult‑like subculture—in a mostly positive sense—built around craft, heritage, and shared values.
I was reading about one owner recounting an in‑person encounter with another Leica owner on the street and how the red dot, the iconic circular logo on Leica’s cameras, sparks conversation, mentorship, and informal meetups.
What is the strategic role of the Leica community?
Mike Giannattasio
When someone hears the phrase “cult‑like,” they might be turned off, but I take it as a huge compliment that we have such a strong community.
In the luxury world, that community is one of Leica’s strongest assets.
For brands, the ultimate pinnacle is to move from commodity to brand, then to “lovemark,” and then beyond, where your community moves you from manufacturer to lifestyle to legacy.
The community is at the base of everything Leica does.
It’s not just because they purchase a product.
The little red dot is like a secret handshake among people.
If you’re walking down the street and see someone with a Leica and that little dot, it’s an immediate door opener.
It sparks a conversation right away.
In a way, this community has become an informal global network of brand ambassadors for Leica.
Our advertising budget as a percentage of sales is very small.
Our community is our brand ambassadors.
They are also our biggest critics and our most loyal protectors.
If we do something they’re uncomfortable with, they come to us immediately and make sure we stay true to our DNA.
We don’t just build or sell cameras.
Today we have six stores in North America with one or two opening each year, 130 stores worldwide, and 30 galleries.
We don’t just sell cameras; we build sanctuaries for photography.
Our Leica Galleries and the Leica Akademie are designed to be hubs for creators and storytellers.
If a show like “Friends” reshaped coffee culture, we hope our Leica stores become that kind of culture for creatives.
Whether it’s celebrating printing, protecting the community, or nurturing creativity, our community is what makes Leica enviable to so many other luxury brands.
Scott Kerr
Over the years, Leica has collaborated with a range of luxury and fashion brands, including Hermès, Moncler, Zegna, and Paul Smith, often via ultra‑limited cameras and high‑end accessories.
How does Leica curate cross‑category partners to either amplify or complement the brand’s positioning?
Mike Giannattasio
When we talk about being true to our DNA and how we want to amplify it, we look for partners that occupy the same pinnacle in their respective fields.
We try to collaborate with companies that have a commitment to mechanical soul, artisanal craftsmanship, or lasting design that creates iconic objects.
We never think of it as just product placement or logo placement.
We see it as an opportunity to create a marriage of art and engineering with brands that share Leica’s cultural values.
Scott Kerr
You were talking about Leica watches before.
Leica has dabbled in watches going back to the 1980s, but it really began producing a dedicated in‑house mechanical watch line in earnest in 2018 with the release of the Leica L1 and L2, later renamed ZM1 and ZM2.
Over the years, several non‑watch brands have successfully extended into watches, often using timepieces to deepen their luxury or lifestyle positioning—Chanel, Hermès, Louis Vuitton, and your old company Montblanc.
Is it about Leica using these timepieces as another expression of the same core identity of craftsmanship and engineering?
Mike Giannattasio
I couldn’t have said it better.
A timepiece is a mechanical camera for the wrist.
Having spent years at brands like Montblanc and others, I see this as a natural extension of our DNA.
We’re applying the same rigorous German engineering and precision to timepieces that we apply to our optics and to building rangefinders, reinforcing ourselves as a true manufacturer dedicated to precision engineering.
It’s a holistic extension of our lifestyle.
Whether our customer wants to celebrate a moment through a photograph or through time, we’re meeting our customers where they ask us to meet them.
Scott Kerr
We’ve talked about AI and the explosion of image creation in general.
AI has massively accelerated how many images exist, how easily they can be faked, and who gets to create them.
It’s deepening both the power and the risks of our image‑based society.
We’re seeing deepfakes and AI‑generated visuals eroding trust in photos and videos, making it harder for people to distinguish real documentation from fabricated scenes and undermining confidence in media and institutions.
Do you see this as a threat to Leica’s core business and its core promise of truthful photography, or more of an opportunity for Leica to position itself as a guarantor of authenticity?
Mike Giannattasio
I absolutely see this as an opportunity for Leica.
With the launch of the M11, Leica was the first commercial company to partner with Adobe’s Content Authenticity Initiative, embedding that technology into the camera.
It allows people to know the provenance of a photo.
In a world where AI can manipulate reality and be used in deceptive or harmful ways, Leica’s partnership and this technology really set us apart.
There was even a New York Times article about the resurgence of photography as an art form, tied to the rise of AI and the fact that people no longer know what is real.
This is a moment for Leica, but also for others who occupy this space, to work on technology that gives people provenance.
Scott Kerr
Last year, many of your products focused on the 100th anniversary, introducing special‑edition cameras and major releases.
What were some of the products that reflect Leica’s craftsmanship and design while still integrating cutting‑edge technology—balancing tradition and innovation?
Mike Giannattasio
We should start with what I’d call the banner piece.
We held celebrations in New York, Tokyo, Wetzlar, Milan, Singapore, and Shanghai.
In each of those markets, there was a limited‑edition M11 created as a highlight.
What made the M11 “100 Years” edition so special is that it was still a digital camera but with no rear screen.
It forced photographers to rely on their instincts, mirroring the film experience but with a state‑of‑the‑art sensor—respecting both what is old and what is new.
We released 100 of those in our New York store, and they sold out immediately.
In addition, we had two other cameras: the Sofort 2 “100 Years” edition and the D‑Lux 8, which reached price points for more aspirational customers who wanted to be part of this historic moment.
Scott Kerr
What role do you see Leica playing in our image‑based society, one that shapes how people perceive events, remember experiences, and make sense of the world?
Mike Giannattasio
I want to say this without hubris, because that’s not a brand value—we are humble and true.
But I think Leica serves as an anchor in our image‑obsessed society.
In a time when visuals are often used to distract or distort, we provide tools to document.
Our role is to protect the honesty of the human gaze, prioritize photography and mechanics, and encourage stronger visual literacy.
We want to act as a global partner or guarantor of authenticity, to ensure that how people perceive events and remember their experiences remains rooted in truth, and to save a reliable visual record for the next century.
The world of AI can pose a real danger to those fundamentals.
Scott Kerr
Mike, my final question is the luxury item question, which I ask all my guests.
If you were stranded on a deserted island and could only have one single luxury item with you, what would that be?
It can’t be any form of air or water transportation to get you off the island, or anything that requires mobile service so you can call somebody to get you off.
It’s just you on this lonely island all by yourself.
But you do have one luxury item with you—what would that be?
Mike Giannattasio
I don’t know if this is coy, and I don’t want it to come off that way, but it would be my family.
For me, family is the biggest luxury you can have.
I’m not sure if that’s a fair answer, but human connectivity is the most important luxury we have, other than time.
So I would say my family.
Scott Kerr
Mike Giannattasio, president of Leica Camera Americas, thank you so much for joining me on The Luxury Item.
Mike Giannattasio
It was a real pleasure, Scott. Thank you for having me.
[Narrator]
That’s it for this episode of The Luxury Item podcast.
Thank you so much for listening.
If you found this useful and entertaining, I would be really grateful if you can share it with a friend or colleague.
I would love it if you subscribe so you never miss an episode.
And while you’re there, be sure to rate and review us on Apple Podcasts; it really helps other listeners find us.
The Luxury Item podcast is a production of Silvertone Consulting.
I’m your host, Scott Kerr. Until next time.