The Fashion Twitterati | Source: DKNY and Oscar de la Renta

NEW YORK, United States — To tweet, or not to tweet. That has been the question on many fashion business minds over the past year. Not every brand needs a Twitter account, but if a brand does decide to stake out a presence on Twitter, they should do so with a clear plan in mind and a voice that is consistent with the brand, while also opening up a new point of view. Most of all, Twitter should be a tool for engagement with a brand’s fans and followers.

That is all easier said than done. Some brands on Twitter don’t follow anybody else and only broadcast information out, which is the schoolyard equivalent of talking all the time, while shutting your eyes and ears and not listening to anybody else. You don’t make many friends that way. Then there are the brands that set up a Twitter account, and then fail to keep it active, which is kind of like inviting a brand’s fans to a big event, and then not showing up to greet them. It 0nly serves to disappoint fans and followers. Still other brands require tweets to be ‘approved’ by legal and PR departments, which takes away from the spontaneous, real time nature of Twitter.

Thankfully, there are a few fashion businesses that are doing it right. They have found ways of communicating about their brand that have caught the attention of tens of thousands of followers, and more importantly, have made those followers feel like part of the brand’s online community.

BoF sought out three of the most prolific and successful fashion twitterers, and for the very first time, spoke to the people behind fashion’s greatest tweets to learn from their success.

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Olivier Zahm Self-Portrait | Source: purple DIARY

For Fashion’s Bad Boy, No Secrets (NY Times)
“[With Purple] and often salacious photographic blog, purple-diary.com, Mr. Zahm, a former art critic, has become a demi-celebrity in the fashion world. He likens himself to Andy Warhol, who managed a similar feat with Interview.”

Discount luxury e-tailer BrandAlley to launch a crowdsourced platform (Independent)
“Discount luxury e-tailer BrandAlley is launching a new virtual platform… Taking a cue from the rising trend of crowdsourcing, Le Lab will allow BrandAlley Web users to vote on and decide which designs make it into production.”

Master of the Brand: Bernard Arnault (Forbes)
“Though LVMH quickly denied it would try to take control of the 173-year-old Hermès, the stage is clearly set. It may be a long drama: Three-quarters of the company is still in the hands of 200 Hermès family members. Winning them over could take decades.”

Adidas raises earnings guidance for 2011 (FT)
“Adidas, Europe’s biggest sports goods maker, gave its first indications of how economic recovery will extend into next year, saying it expects earnings growth of up to 15 percent in 2011 after raising its guidance on 2010 earnings for the third time.”

Window Dressing Warriors (NY Times)
“David Hoey [and] Linda Fargo, have dressed windows for 14 years… During that period, they have earned Bergdorf a reputation for decadent, intellectual art pieces that tickle both street crowds and museum snobs alike.”

Primark Fall 2010 Lookbook | Source: Hey Crazy

Primark is the best summer seller (Independent)
“Love it or loathe it, you can’t avoid it – at least not anymore. As we report… Primark became Britain’s biggest clothes retailer by sales volumes over the summer. That is a position that has traditionally been occupied by Marks and Spencer.”

How Bergdorf Goodman understands the new luxury purchase funnel (Luxury Daily)
“Upscale department store Bergdorf Goodman has adjusted to consumer fragmentation across communication channels by tightly integrating its print, direct mail, online and mobile strategies to push its fall 2010 collections.”

Neiman Marcus gives fashion bargain hunters a final shot (Internet Retailer)
“Known as Last Call, the brand, which Neiman Marcus launched online and with a retail… features [goods] that were previously sold in Neiman Marcus and Bergdorf Goodman stores, at discounts of 30% to 65%.”

Coach’s Profit Increases 34%, Beating Analysts’ Estimates (Bloomberg)
“Chief Executive Officer Lew Frankfort cited ‘Resiliency’ in handbags and accessories in North America for the gains… The company also cut average prices to spur spending.”

Britain’s prisoners sew their way to a better future (Independent)
“The thought of finding hardened criminals bent industriously over their embroidery, counting stitches and arguing over patchwork might seem far-fetched, but… this unlikely scenario is not only a reality, but a highlight of their daily prison life.”

Michelle Obama in J.Crew, courtesy of Vogue (US)

Fashion Forward (Portfolio)
“Moving ahead in the current economy will require fashion companies to be as flexible and innovative as they’ve claimed to be all along.”

S&P cuts Barney’s credit rating, warns on liquidity (Reuters)
Standard & Poor’s on Monday cut its ratings on Barney’s New York Inc to a deeply distressed level and warned that vendors may tighten terms or limit shipments to the luxury retailer as its liquidity declines.

Bergdorf Expands the World of Bottega Veneta (WWD)
“While the Italian brand and its signature “intrecciato” weave cast an understated aura, there’s nothing subtle about the Bergdorf presentation. The Fifth Avenue store has created a ‘World of Bottega Veneta’ showcasing the brand’s burgeoning assortment.” (Subscription required)

Trovata, Forever 21 Case Set for Trial (WWD)
“After two years of legal wrangling, Trovata’s lawsuit alleging that cheap-chic retailer Forever 21 copied its designs is headed to trial next month, and the outcome could have implications for both vendors and retailers in this age of fast fashion.”

In economics, arbitrage is the practice of taking advantage of a price differential between two or more markets by buying something for a lower price in one market and selling it for a higher price in another market, preferably instantaneously, to avoid the risk that price gap will close.

With the plummeting US dollar, many European brands have decided to take a hit on margins instead of lifting prices to reflect the current exchange rate. They want to stay competitive with their American counterparts and don’t want to turn off American consumers with astronomical prices.  But the resulting lower US prices have led to an opportunity for some seriously lucrative fashion arbitrage. For example, a New York Times article published this week reveals that the Yves Saint Laurent Downtown bag costs $1495 at Bergdorf Goodman in New York, but costs £910, about $1796, at Harvey Nichols in London.

Savvy consumers can make money by buying bags and other fashion products in the US and then flogging them in Europe and Asia — at prices higher than in the US, but lower than the International price.

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