Comments on: Luxury Society and the Social Media Revolution in Women’s Wear Daily

By: Isabelle

Isabelle — Tue, 09 Feb 2010 01:13:53 +0000

There are some good sites out there now..Asmallworld, Qubers, Elixio, decayenne…Some luxury brands already started to advertise on these platforms…

By: Clara

Clara — Sat, 22 Aug 2009 15:13:01 +0000

Interesting and inspirational points! A true challenge for the smaller fashion companies to overcome the problem with the long lead times though. It is so true customers do not accept waiting for what they want anylonger.
Another point regarding social media, besides the opportunity to create awareness, loyalty etc is the very valuable information that is to be found there. I mean information first about who the firms’ customers are, but also about they wishes, wants and needs. This is something many of the smaller fashion companies have know clue about which makes profitable product developent a unneccecarily tough task. Instead of guessing: go ask them!

By: NattyM

NattyM — Tue, 18 Aug 2009 20:38:34 +0000

@DC Fashion Gal: In my opinion, Social media is more than putting messages up on ‘Facebook and Twitter’. On top of opening up more relevant channels for better-targeted reach and being a communications platform where the word can be spread more easily – it also means brands can now shape the conversations of consumers and the media. This is especially important with influential fashion bloggers by delivering ‘brand stories’ to the right places at the right time.

On a basic level, Social Media is a tool – a channel to reach your audiences. They could be your brand loyalist to improve your relationship or a mass market audience to drive awareness and increase the aspirational aspects of the brand. You can be as ‘exclusive’ as you please.

Take it one step further and it is more than a communications channel – it’s an environment that has revolutionlise how we market to, do business with and engage our audiences. We can now form 1-to-1 relationships with our customers and increase their loyalty with the brand. As well create brand communities where our customers can become part of the brand (and its evolution). These community members will be advocates of your brand who are more than willing to spread your messages to their social network. These engagement levels can only increase the consumer’s affinity with the brand and as a result heighten ROI.

By: DC Fashion Gal

DC Fashion Gal — Tue, 04 Aug 2009 00:20:25 +0000

Very interesting article about the luxury industry and the internet. I really wonder if social media like Facebook and Twitter does or would increase the revenue for such luxury brands like Yves St. Laurent or Gucci where the price point is very, very high and which, I think is not meant to be for the mass market, so to speak. It’s almost a dichotomy that luxury should no longer equate with exclusivity when that’s part of the allure. Doesn’t the notion that only a select number of people wear certain luxury brands allure shoppers to wanting to buy these luxury goods? Wouldn’t it perhaps ‘cheapen’ the brand if there was no longer an air of exclusivity with some of the oldest, most prestigious fashion brands around like Chanel or Valentino? I think Net-A-Porter’s website platform makes it unique in that it not only sells clothing but it sells an image of the clothing being worn.

By: Robert I.

Robert I. — Sat, 01 Aug 2009 19:44:56 +0000

It may be aspirational thinking for luxury companies to think a bit of twittering will solve the problem but it is a case discordance. They are precisely the focus of our discontent (as are politicians and the majority of the old hierarchy. It may not be as bloody as the French revolution but IT IS ONE NONETHELESS.
I (who used to prescribe to the old adage of status and even worked within the industry) only shudder with cynicism when the old guard think they can still make me shed even one euro for their meaningless ideals of wealth and stature. It is DEAD. I for one no longer require such fodder in my life and hope follow.
Leave the past mistakes behind.

By: Jasmine

Jasmine — Fri, 31 Jul 2009 17:54:35 +0000

Inspirational points! Compared to US, however, China, the second largest luxury consuming countries in the world, still lacks e-luxury websites. That´s a huge opportunity lying there, I just wonder who will be the first one who bites the apple.

By: Imran Amed, Editor

Imran Amed, Editor — Fri, 31 Jul 2009 15:09:29 +0000

@Anjo: Good questions, and ones that the entire industry should be thinking about. I don’t have all the answers, but think it is necessarily one or the other of the options you have presented. I think several models can be explored, partially dependent on the distribution channel (own store, wholesale or internet). Either way, it will require a lot of innovative thinking and structural change.
The way we do things today is matched to the technology and capabilities we had in the 1950s. But things have changed. In other manufacturing sectors, including vertically-integrated high-street fashion, they can go from design to delivery in a matter of a couple of months. For major brands who control their supply chain from end-to-end, this kind of rapid go-to-market strategy could keep fresh product coming into the stores, with appropriate communication to consumers timed for arrival of product int stores. Of course, this will mean they have to take inventory risk and make predictions about what will sell, but brands should be better and better at doing this anyway.
For internet retail, I think the Net-a-Porter model could work very well, but again this requires predicting in advance what will sell.
The toughest challenge is the Wholesale channel, where the buying cycle is so long that it slows everything down. Brands are also struggling with the fact that wholesalers will mark their product down so much.

By: Anjo

Anjo — Thu, 30 Jul 2009 21:16:16 +0000

These are some really good points. My question for Imran is, how do you get around the lead times required by factories, magazines and stores for the clothes they’re going to (respectively) manufacture, showcase and sell? Editors and buyers need to see the clothes months in advance so are you suggesting separate presentations for industry and publicity? I think DVF mentioned this a few days ago. Or would you recommend something modeled on the collaboration between RM and Net a porter, where product is manufactured in advance of the show?

By: Miss Chiccane

Miss Chiccane — Thu, 30 Jul 2009 12:40:19 +0000

This is one of the most relevant articles about the changes in the fashion/luxury industry I have read. At Chiccane.com, we thrive on offering our customers “Just in Time” luxurious fashion, with “Looks of the Moment” that reflect the current season and clothing availability. Internet is here to stay, we should embrace its possibilities, rather than being scared of the unkown. Cheers!