Fashion Brands Test Radical Ideas
The Future of the Fashion Show
Es-Tu Fashion 2.0?
The fashion industry can get their first look at “Digital IQ”, a ranking report by LuxuryLab who has compiled data on the digital competence of the luxury industry. Included in the report are the world’s top fashion brands, but only two were able to break into the top 10 - Louis Vuitton (#6) and Ralph Lauren (#7).
The 37-page report cheekily gives a rating from “Feeble” to “Genius”, of which Apple tops the list (unsurprisingly) as the savviest of them all. According to Business of Fashion, the majority of fashion brands are clumped somewhere around the middle hover over “Average” and “Gifted”.
The brands are judged on online presence in new media such as Facebook and Twitter, and overall performance of their e-commerce website. Some of which don’t sell through their sites at all such as Chanel and Marc Jacobs.
Louis Vuitton is not a surprising winner in this category, as they are perhaps the only brand who keeps up to date with the market by being virtually everywhere, 24/7.
Ralph Lauren champions as the online retail guru, perhaps being one of the few brands who has adopted the QR codes for mobile phones, and establishing one of the most comprehensive e-commerce sites for all of its different brands.
It’s a fascinating read! You can download the Digital IQ pdf file here.
Montreal designers take note.
Image credit: LuxuryLab
HBC Owner Optimistic With Future Plans
After months of silence since The Bay laid off 1000 workers earlier in March, HBC owner Richard Baker finally talks of progress and plans for the future of Canada’s oldest department store.
Baker explained that he had made cuts where expenses were not relevant to the core business of the department store, by expanding well-performing sections and reducing underperforming ones.
The Bay dropped 700 underperforming brands among its 1,200 labels in all, and instead added 150 new ones, such as Juicy Couture, Theory and Hugo Boss. It is scaling back inventory in the stores by 20 per cent, and making more room for growing departments, while reducing space for home items and men’s and children’s wear. - The Globe and Mail
Baker is said to be so optimistic that he plans to put the company public once again on TSX as early as 2011.
Wow, that early? Will people be willing to buy shares into The Bay? I personally have noticed some chances in the downtown Bay flagship, but there was nothing significant enough that I would deem it stock market worthy.
Victoria’s Secret Pink Makes Canadian Debut
After years of driving and crossing borders to get their luscious underwear, Canadians no longer will have to do so as the first wave of Victoria’s Secret Pink (not the epitomous brand, but the brand no less) in Ontario. The Pink brand is aimed mostly for teenagers and young 20-somethings for more relaxed apparels such as hoodies and sweatpants. Expect the real Victoria’s Secret brand to make landfall by Spring 2010.
Retail analyst believe it will be the beginning of the end of Canadian brand, La Senza, bought in 2007 by Victoria’s Secret’s parent company, Limited. They say La Senza will stand no chance against “the crème de la crème” of sexy underwear, and would make perfect business sense to turn La Senza retail stores into Victoria’s Secret.
But we’ll just have to wait and see.
