I spent the morning at the L2 Innovation conference (L2 is a think tank in NYC), and heard some interesting stuff. What struck me, in no particular order, when it come to the luxury/fashion world:
1. Ben Silbermann, who started a site called Pinterest, where people collect and share virtual stuff — any stuff (hedgehogs, t-shirts, glass) — said luxury has always understood people learn from other people, but the people they see as the taste teachers have traditionally been celebrities or aristocracy, and what luxury doesn’t get is now those people have been replaced by everyday tastemakers. Individually these ordinary folks don’t have the level of celebrity, but collectively they have a huge reach. This means brands should forget about their obsessive number metrics — how many Twitter followers they have; how many Facebook fans — and think about how to reach normal individuals.
I think he’s right, but find it hard to imagine how luxury brands will do this. How would someone react if they got the message the Burberry wanted to “friend” them? Read more