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Brexit is here, Vogue.com’s return to e-commerce, fashion copes with Coronavirus

A round-up of everything you might have missed in relevant fashion, retail and tech industry news over the past week.

Top Stories
  • Brexit is here. What’s next for fashion? (Vogue Business)
  • Vogue.com to launch new shopping vertical (WWD)
  • How the fashion industry is coping with the Coronavirus crisis (Jing Daily)
Technology
  • AI-powered robot warehouse pickers are now ready to to work (MIT)
  • H&M and Magic Leap redefine the customer experience (Magic Leap)
  • Fashionphile is turning luxury authentication into a science (Fashionista)
  • ‘We can’t scale humans’: Why startups are raising millions to build AI avatars (Fast Company)
  • Smart tags seen as next marketing tools (WWD)
  • The Future of Fintech: AI & Blockchain (Business Insider)
  • Walgreens is expanding its digital cooler doors ad network (Digiday)
  • Birmingham’s Thomas Crown gallery to be city’s focal point for AR & street art (VR Focus)
Sustainability & Purpose
  • BRC announces new voluntary vegan guidelines for fashion (Drapers)
  • Guardian bans ads from fossil fuel companies (Campaign)
  • Copenhagen Fashion Week unveils ‘radical’ sustainability plan (Fashion United)
  • Unibail-Rodamco-Westfield achieves top score for climate action (Retail Gazette)
  • Pandora commits to carbon neutrality by 2025 (Fashion United)
  • The drive toward sustainability in packaging – beyond the quick wins (McKinsey&Company)
  • Adidas debuts sustainable football field made out of ocean waste (Highsnobiety)
  • H&M Conscious becomes first retail collection to feature Circulose® (The Industry)
  • Worn Again technologies opens R&D plant in England (WWD)
Retail & Commerce
  • Estee Lauder, Sephora unveil shoppable AR makeup try-ons on Pinterest (Mobile Marketer)
  • H&M’S new boss says its 500+ ‘stores will change’ as it focuses on digitalization (Charged Retail)
  • Allbirds set to open its second UK store (The Industry)
  • E-commerce deliveries will overrun cities in 1 to 3 years (Retail Dive)
  • UK retail space could shrink by 20% (Retail Gazette)
Marketing & Social Media
  • How fashion brands like Off-White and Balenciaga are getting in on Super Bowl 2020 (WWD)
  • 42% of people believe ads can change the world, despite trust crisis (The Drum)
  • Danish fashion is withstanding Instagram’s test of time (Vogue Business)
  • As TikTok looms, Youtube plans to remain the ‘clear founding ground’ of British talent (The Drum)
  • Sephora and Chipotle want to go viral on TikTok. Their employees already are (Vox)
Product
  • Nike sells out of Kobe Bryant products (Hypebeast)
  • Nordstrom launches secondhand clothing sales (BoF)
  • This makeup primer is Revlon’s first clean-certified beauty product (Fast Company)
  • Will we buy mostly vintage clothes in the future? (WSJ)
  • Atolla receives patent for adjustable skin analysis system (WWD)
Business
  • LVMH revenues rise 15% in 2019 but uncertainty in Asia looms (Vogue Business)
  • J.C Penney gets NYSE warning on possible de-listing (WWD)
  • LVMH, Kering, Anta and Alibaba pledge donations to battle Coronavirus (WWD)
  • How fashion can navigate 2020’s political minefield (BoF)
  • New CEO and chairman for H&M Group (Drapers)
  • Levi Strauss boosts digital credentials with new board member appointment (Fashion United)
  • A new model for crowdsourcing innovation (HBR)
  • L’Oreal launches Employee Human Rights policy (WWD)
Culture
  • ‘Angels’ in hell: The culture of misogyny inside Victoria’s Secret (NYT)
  • Disney partners Secret Cinema to create global immersive experiences (Campaign)
  • Camille Walala decorates “kid’s dream house” with more than two million Lego pieces (Dezeen)
  • Atari is opening eight video game hotels across the US (Input)
  • Is the gaming world become more trans-inclusive? (i-D)

How are you thinking about innovation? The Current Global is a transformation consultancy driving growth within fashion, luxury and retail. Our mission is to solve challenges and facilitate change. We are thinkers and builders delivering innovative solutions and experiences. Get in touch to learn more.

Categories
e-commerce Editor's pick Retail sustainability

3 ways brands are experimenting with the resale market

From partnering with resale websites to facilitating consignment selling, brands are increasingly exploring ways to be more involved with their products as they continue through their lifecycles.

Part exercise in brand control and part push for more sustainable consumer habits, the move is of course also an enormous opportunity for extended revenue streams.

The secondhand market is projected to double in value over the next five years, skyrocketing from $24bn to $51bn, according to a report from resale site, thredUP.

We’re also seeing heavy investment in the resale space as a result. Foot Locker just put in $100m into GOAT, while Farfetch recently acquired Stadium Goods for $250 million. There’s also a round of funding coming up for sneaker marketplace StockX, which will turn the company into the first sneaker reseller valued at $1bn, according to Recode.

Here are three ways brands are otherwise experimenting with and promoting the resale market:

1. PARTNERING WITH RESALE WEBSITES

Starting this April, & Other Stories started selling pre-owned garments. The project was created in partnership with second-hand platform Sellpy, which manages and operates its sales. When clicking on the new “pre-loved” section on the & Other Stories’ website, clients are redirected to sellpy.se. For now, the service is only available in Sweden.

“We’re exploring different ideas on how our long-lasting designs can find their way to new owners. With that in mind, we decided to do a small second-hand test project with Sellpy,” explained Sanna Lindberg, managing director of & Other Stories.

Stella McCartney made history last year as the first luxury brand to promote the consignment of its products on The RealReal. Anyone selling Stella McCartney products on the platform receives a $100 voucher valid at any of the brand’s stores or via its website.

2. DRIVING RESALE SELLING AND BUYING THROUGH STORES

Neiman Marcus recently invested in Fashionphile, a high-end consignment boutique. It has plans to have Fashionphile drop-off locations inside select stores, allowing shoppers to get paid right away for their pre-owned items. For now, Fashionphile is offering an increased buyout price for those who opt to receive payment as a credit at Neiman Marcus.

Meanwhile, just last month, Galeries Lafayette introduced a second-hand fashion platform called Le Good Dressing, which combines online shopping with an in-store experience. Vendors on the site sell products and then drop them off in the store, where buyers can come in to get their purchases – with no commission charged.  Sellers also receive a voucher that can be redeemed at any Galeries Lafayette store or its online shop. Attracting both buyers and sellers into the store, this initiative translates into a host of new sales opportunities.

Added to the list is the new Levi’s flagship in New York City’s Times Square, which has a section dedicated to selling pre-owned garments. Here, it’s possible to find not only newer styles, but also refurbished items from past decades, going as far back as the 1930s and 1940s.

3. FACILITATING THE CONSIGNMENT ITSELF

West coast brand, Reformation, is the first brand to partner with resale website thredUp on a project called UPcycle. When customers shop on the Reformation website throughout May 2019, they all automatically receive an UPcycle kit in their orders. These kits enable customers to shop the clothes they want to consign to thredUP, taking away the hassle of sorting out the inventory to do so.

But that’s not all, when a customer decides to consign any product from any brand via thredUp, they also have the option to get paid with a gift card for Reformation. This is a way to create more circularity, while also promoting Reformation’s brand. ThredUp expects to establish similar partnerships with 10 more companies this year.

How are you thinking about retail innovation? We’re all about finding you the perfect partners to do so. The Current Global is a consultancy transforming how fashion, beauty and consumer retail brands intersect with technology. We deliver innovative integrations and experiences, powered by a network of top technologies and startups. Get in touch to learn more.