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.
I was struck this week by a report from Havas Media on the world’s most “meaningful” brands – struck by the fact there was but ONE luxury brand in the top 20 (L’Oreal), and by the fact that this all was revealed only a day after I returned from the FT’s luxury conference in Vienna, which had culminated in a panel of luxury CEOs all discussing the need to connect meaning to their brands, and how they are going about it (education, sustainable supply chains, philanthropy), and only a few days after Gucci held its Chime for Change concert in London, which raised over GBP4 million for women’s causes around the world. It’s hard not to think that whatever luxury thinks they are doing, it’s not getting through broadly enough.
I woke up this morning to what is, I believe, the shortest ever CEO announcement I have seen, courtesy of Schiaparelli. It’s like a luxury HR haiku! Or a clue to how they mean to go on.
“2% of the population under 30, and 2% of the population under 40 are millionaires who are not being catered to by the men’s knitwear market,” So said Jean-Victor Meyers to me yesterday, explaining his new men’s cashmere business, which aims to change all that.