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. Read more
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. Read more
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? Read more
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. Read more
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. Read more
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. Read more
Last Saturday I wrote a column about Facebook founder Mark Zuckerberg and the way he dresses, looking at his decision to stick with the hoodie uniform even as he becomes part of the establishment, and ever since it was published letters have been pouring in, at least half of in his defense (even though, to be fair, I never criticized how he looks; I simply noted it). Read more
It never rains but it pours (and in Brooklyn, where I live, it just hailed). After the Gap on-line logo hoo-ha at the end of last week comes a report from the Stern business school at New York University and the think tank L2 entitled “Digital IQ Index: Luxury,” looking at how 72 luxury brands are handling themselves on-line, on their websites, social media, digital marketing and mobile apps. Guess what? They’re stuck in the mud!
It’s a truism that high fashion brands have been slow to embrace the internet, and the reason they’ve been slow is that engaging in such a democratic medium means they ipso facto loose some control over their image. In a dialogue with lots of unknown consumers, those consumers can say anything! And then, other consumers can read what they say! And what they say might be not be what brands want other people to hear. And what they say might be not be what brands want other people to hear. Well, there’s a conversation currently going on in cyberspace that’s like their worst nightmare come to life — though (hear the sighs of relief) it has to do with a mass market company.