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Vivienne Westwood calls to ban land ownership, Shiseido acquires Drunk Elephant, Hong Kong protests hit luxury

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

Top Stories
  • The ‘only way to save the world’ is to ban land ownership, says Vivienne Westwood (Dezeen)
  • Why Shiseido bought Drunk Elephant for $845million (BoF)
  • Hong Kong protests could hit Burberry sales by up to £100million (Quartz)
Technology
  • Adidas 1st to sell shoes via Snapchat game (Mobile Marketer)
  • 5G smartphone sales will top 1B by 2025 (Mobile Marketer)
  • Unicef now accepting donations through bitcoin and ether (The Guardian)
  • 3D-printed smart textiles consume less energy, water & chemicals (Sourcing Journal)
  • GOAT showcases world’s rarest sneakers with AR try-ons (Mobile Marketer)
  • Personal stylists are using data to strengthen relationships (Vogue Business)
  • O2 launches ‘worlds first live ad’ powered by 5G (Campaign)
Sustainability & Purpose
  • California bans animal fur products (Drapers)
  • Kat von D launches vegan footwear line from apple ‘leather’ (Sourcing Journal)
  • Farfetch partners with Thrift+, a second hand donation platform (Retail Gazette)
  • Chloe forges three-year partnership with UNICEF (WWD)
  • Forget carbon neutral, Patagonia wants to be ‘carbon positive’ (Sourcing Journal)
  • Little Mistress launches sustainable packaging (Fashion United)
  • John Lewis launches sustainable ‘buyback’ trial (Retail Gazette)
Retail & Commerce
  • Stance opens Carnaby Street flagship store (Retail Gazette)
  • Morphe launches in-store Youtube studios to drive foot traffic (Glossy)
  • H&M outlet brand Afound shifts focus towards online (BoF)
  • Rental service HURR Collective to stage pop-up shop (The Industry)
  • Vans brings new boutique concept to Covent Garden (Fashion United)
  • Givenchy unveils US e-commerce site (WWD)
  • HMV launches Europe’s largest music store (Retail Week)
Business
  • Ganni’s guerrilla approach to global growth (BoF)
  • New CEO at Stella McCartney (Drapers)
  • Race to buy Barneys heats up (WWD)
  • Toys R Us relaunches website amid Target partnership (Charged Retail)
  • Victoria’s Secret store exec departs (Retail Dive)
  • LVMH luxury venture fund invests in streetwear brand Madhappy (Fashion Law)
Marketing & Social Media
  • Instagram launches Threads, a close friend chat app with auto-status (TechCrunch)
  • The next generation of menswear designers might be on Youtube (Fashionista)
  • Teens choose Youtube over Netflix for the first time (CNBC)
  • Abercrombie & Fitch, Hollister launch Instagram checkout (Retail Dive)
Product
  • Mens beauty grooming retailer Beast Inks deal for U.K rollout (WWD)
  • SprezzaBox and Esquire team up to launch subscription box (Fashion United)
  • Everlane launches ReCashmere sweater collection (Dezeen)
Culture
  • Adidas teams up with Universal Standard for a truly size-inclusive collaboration (Adweek)
  • Why 5,000-year-old fashion is making a comeback (BoF)
  • Lululemon partners with United Nations Foundation (Fashion United)
  • Kellogg’s autism-sensitive packaging for kids (Stylus)
  • Victoria’s Secret hires first plus-size model (Fashion United)
  • Havas and CALM team up to create self-care labelling for Topshop and Topman (Campaign)
  • The business of casting queer models (BoF)

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.