Assembling a cultural portfolio

Core holdings, tactical moves, and how to manage cultural volatility

Mention a cultural program to a CFO and they will immediately think of it as a cost center. To change their mind (and get their attention), reframe it as a portfolio of accumulating assets.

Within these portfolios, there are three layers, each with the different time horizon and risk profile.

The core position is long-range, low-turnover holding. Ralph Lauren’s preppy style or Hermès equestrian aesthetics belong here, as well as Burberry’s trench or check pattern. These are positions held for 60 years and 200 years, respectively. The association with