This being Black Friday in the US, and the topic of spending money being very much in the news, here’s an interesting study on the latter: BusinessInsider.com has put together a list of the 35 biggest advertisers on Facebook this year. And guess what? Despite all that lip service paid to interaction and transparency and so on and so forth, there’s only ONE luxury brand on it. Also only one fashion brand. And they are probably not the ones you would expect.
New York Fashion Week? What’s that? This morning – the last of NYFW — London was in the news, as both Burberry and TopShop announced major new technology initiatives. Though they are generating a lot of buzz around the brands, I can’t help but wonder about the direction all of this is taking.
By now we hold these truths to be self-evident: that the extreme resilience of luxury brands in the face of European economic turmoil can be traced largely to the traveling luxury consumer heralding from Asia, Brazil and Russia; that this trend is probably going to continue; and that the smart luxury brand will shift its retail strategy accordingly. What else to make, anyway, of two new initiatives geared specifically toward making money from the phenomenon?
Today Burberry’s new aviator-style eyewear collection is out — as well as a new song and video from UK band One Night Only. Coincidence? Not likely. The song and video was commissioned by the fashion brand, is available first on Burberry’s facebook page and then iTunes, and features front man George Craig modelling — you guessed it! — Burberry eyewear. Could this be the first step down a slippery slope that will lead to fashion moving in to more formal production roles?
It seems Goldman Sachs is not the only financial powerhouse interested in investing in what they have termed the “N-11” countries. This morning Kleiner Perkins, the Palo Alto-based venture capitol firm that has become synonymous with internet investing has announced it is fronting $13 million worth of series four money funding for Trendyol.com, the fastest growing, biggest fashion etail site in Turkey. This has some very frightening implications for traditional designers and retailers.
In all the hoo-ha about the Groupon listing, I can’t quite escape the idea that social shopping is about to become the next big thing in social media. It is, after all, the simplest way to monetize the phenomenon.
If in doubt, simply consider the latest entrants to the field: Henry Kim and Harish Abbott, founders of Sneakpeeq, one of the most interesting new entrants I’ve encountered.
Burberry has now read the L2 report I posted about this morning, and have some things they wanted to point out in response.
Well, this is a shocker: today a digital think tank called L2 is publishing a study, “L2 Prestige 100®: Facebook IQ,” which ranks the high-end brands as “Genius, gifted, average, challenged, and feeble” according to who uses Facebook best, and out of brands that span the auto, watch & jewellery, fashion, beauty, and spirits & champagne sectors, Burberry, normally held up as THE most web-savvy, digi-forward company in the luxury industry, ranks…average. Actually, it’s number 49.
Italian Vogue editor Franca Sozzani has just taken a big step out from behind the glossy curtain, and decided to launch an on-line campaign to close down pro-anorexia sites on-line.