Bits & Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
Today, as Warby Parker announces a new milestone — distributing one million pairs of glasses to people in need — co-founder Neil Blumenthal argues that having a social mission is not only good for the world, but critical to attracting the top talent required to build a successful business.
Despite the rise of e-commerce, offline retail remains a fantastic opportunity for fashion brands, while offering features that digital channels will simply never be able to duplicate, argues Ari Bloom.
In recent years, we’ve seen a veritable renaissance in online fashion retail, with venture money pouring into fashion e-commerce companies with a wide range of models. In the first of a series of articles on the current state of fashion e-commerce, sponsored by e-commerce software and platform solutions company Magento, BoF examines some of the models getting the most traction.
Lawrence Lenihan, managing director of FirstMark Capital, argues that the Internet provides a new model for building fashion businesses based on passionate and intimate relationships with consumers, but the maximum market size for these companies is inherently capped, something that overcapitalised entrepreneurs, and the investors who fund them, too often fail to recognise.
BoF editor-in-chief Imran Amed recaps the week in the business of fashion.
After experimenting with a series of offline “showrooms,” trendy online eyewear company Warby Parker has launched it’s first physical flagship, complete with sensors that replicate online analytics, in New York’s Soho. BoF investigates.
Sarah Rutson-Pang (The Creative Class) “With her striking looks and impeccable taste, it’s no surprise that Sarah Rutson-Pang is a permanent fixture in the front rows of Paris and Milan… As the fashion director of the highly influential Hong Kong-based luxury department store Lane Crawford, Rutson-Pang has the important — and sometimes difficult — job of educating and enticing the world’s largest group of luxury
LONDON, United Kingdom — Over the course of the last decade, traditional brick-and-mortar retailers, from Neiman Marcus to Macy’s, have seized the digital opportunity and built impressive online businesses, with web sales of apparel and accessories currently growing faster than any other e-commerce product category and expected to reach $40.9 billion in 2012, up from $34.16 billion in 2011, in the US alone, according to eMarketer.