Categories
business data e-commerce product Retail social media sustainability technology

2019 highlights: The year in innovation news

2019 was a big year for innovation and the Current Daily has been tracking it all throughout – from the rise of 5G-enabled experiences to the continued push towards a circular economy. 

Here, we highlight some of the most interesting stories from the year, outlining why they are an important indication of where the industry is moving in 2020 and beyond.

5G will drive 100m people to shop in AR

Augmented reality took center stage this year as its user-friendly features meant a growing number of brands – and social media platforms like Instagram – started adopting it as a core engagement strategy.

In April, a Gartner report highlighted that 100 million people will shop in AR once high-speed 5G mobile services roll out more extensively. This means the experience is going to be more seamless than ever, giving it better real-time rendering, shorter download times and reduced latency. Retailers seem to be on board, as 46% of them plan to deploy either AR or VR. Check out our piece exploring what other benefits 5G will bring retail.

Fashion brands have only met 21% of their circularity targets for 2020

If there’s one thing to be sure, there’s no escaping the growing momentum around shifting to more sustainable practices as an industry. But is there really progress being made? In July, the Global Fashion Agenda (GFA) launched its second yearly assessment of fashion brands and retailers to find that only reached 45 (21%) of the 213 targets the industry has set for 2020 will be met. 

This means the 90 signatories of the GFA’s 2020 Circular Fashion System Commitment, which includes fashion companies like adidas, PVH Group and Inditex, will have to hurry if they want to achieve more in the next year. We talked a lot about the need for action in this space when a further collaborative group was announced: the G7 Fashion Pact. If you ask us, it’s time to say enough to the pledges, rather give us some tangible outputs.

H&M to trial clothing rental for the first time

Talking of sustainability, one are where we have seen a lot of action and experimentation this year is in new business models. Rental is making serious strides at all ends of the market, but perhaps most interestingly within fast fashion just recently as the H&M Group announced it will trial clothing rental at one of its H&M Stockholm stores. Members of its customer loyalty program can now rent selected party dresses and skirts from its 2012-2019 Conscious Exclusive collections.

Recently, its brand COS also launched a pilot where it is renting out clothes through Chinese subscription rental platform YCloset, which customers can access through a monthly flat rate. We also published a deep-dive into the different opportunities we see for the industry in rental, here.

Allbirds CEO calls out Amazon product copying

In November, Allbirds’ co-founder and CEO, Joey Zwilinger, wrote an open letter to Amazon’s Jeff Bezos after discovering the e-commerce platform was producing its own wool sneakers similar to the brand’s most popular style.

Instead of going the usual lawsuit route, the founder took this as an opportunity to highlight his brand’s sustainability mission. In the letter, Zwilinger highlights that Allbirds’ sustainable philosophy is open source, and it has thus far helped over 100 brands who were interested in implementing its renewable materials into their products, suggesting Amazon might like to do the same. It was a bold move but one that sparked a conversation around the role of collaboration once more, and its critical place in true innovation.

Gen Z loves TikTok. Can fashion brands learn to love it too?

Gen Z quickly adopted Chinese social media platform TikTok as their app du jour this year for its bite-sized video content. Currently, 66% of the platform’s 500 million global users are under 30, according to data analytics firm, Business of Apps.

Brands have started to follow suit, tapping the app to drive engagement and ultimately sales. Content varies from crowdsourced, as in a recent Burberry campaign that saw users challenged to create the brand’s logo with their fingers, through to more refined, such as in a snippet of an interview with singer Shawn Mendes for Calvin Klein. We explored various other brands setting TikTok precedent, here.

Lush abandons social media

While TikTok has been taking off, elsewhere social media is slowing for some. Vegan cosmetics brand, Lush, for instance decided to shut down all of its activity in the UK as it became “tired of fighting with algorithms” or paying to appear on news feeds. Instead, it suggested a hashtag where fans would still be able to speak to the brand.

Lush’s bold move speaks to fight playing out for anything still resembling organic reach. As consumers become jaded over being ‘sold to’, brands are having to find novel ways to reach them, beyond the influencer route. One other area we’re tracking here is those owning their own conversation channels, as with both Glossier and H&M of late.

Coty acquires majority stake in Kylie Jenner’s beauty business

2019 was the year of major acquisitions in both beauty and fashion. While LVMH recently announced it was snapping up Tiffany & Co for $16bn, other names included Farfetch buying New Guards Group, which operates streetwear favorite Off White for $675m; Shiseido acquiring cult skincare brand Drunk Elephant for $845m; and more recently, Coty acquiring a majority stake in Kylie Jenner’s beauty business, Kylie Cosmetics, for $600m. 

The latter served as particular confirmation of how brands build and grow in this day and age. Jenner, who was 18 when she started a single ‘lip kit’ line, used Instagram to form a direct conversation with her audience. In 2019, this seems like an obvious strategy, but the reality star’s foresight to do so in 2015 has undoubtedly been her recipe for success.

How luxury fashion learned to love the blockchain

Amid growing concerns over the proliferation of counterfeit goods, luxury brands also began to embrace blockchain as an important authentication tool this year. 

Earlier this year, we heard about how LVMH launched its own platform, Aura, which is currently being piloted with some of the brands in its portfolio and will further expand in the future. Kering and Richemont meanwhile are said to be exploring this too, while De Beers is using it to trace its diamonds. Once matured, the technology will undoubtedly make its way into the hands of the consumer, who will be able to better understand where their possessions are coming from. We also tracked some of the other innovations in the transparency space; an area that continues to heat up.

Automation in retail: an executive overview for getting ready

Automation was another big tech focus this year, particularly for its potential impact on retail, from supply chain management to last mile delivery. This shift is putting pressure on retailers to rethink their operating models, distribution centres and headquarters, with McKinsey warning that brands that fail to implement it into their strategy risk falling behind. 

Automation is something we’ve long been talking about for the sake of efficiency, but there also comes a significant ethics conversation to be had here, which the industry is exploring. We agree, now is the time.

What Fortnite could mean for fashion

The global gaming market is expected to reach $180bn by 2021, and fashion brands are realizing the valuable potential in this. Free-to-play video game Fortnite has grown into a multi-million dollar business by selling clothing to image-conscious gamers, for instance. This monetization of player aesthetics, more commonly known as ‘skins’, has opened the door for retailers to cash in on the virtual world. 

Going forward, we expect more brands to invest in digital garments or utilize gaming to drive product discovery. We accordingly explored how gamification is being used in the shopping journey by brands like Kenzo and Nike to both increase engagement and build brand loyalty.

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
business e-commerce Retail sustainability technology

From holograms to responsible packaging: 10 must-read retail innovation lists

This year has seen continued breakthroughs in retail innovation, with brands exploring new ways to interact with consumers, whether that’s through the physical store, virtual spaces, or new touchpoints like vending machines. 

2019 has also been an impressive year for sustainable innovations, with everything from creative store design and technological transparency, to responsible packaging solutions and the rise of rentals.

Here, we reflect on 10 of our must-read retail innovation articles from the year.

8 brands deploying vending machines as smart retail solutions
Mulberry x Current Global Vending Machine

Artificial intelligence, social media buzz and customer acquisition tools are just a few of the strategies behind vending machines being used as a key part of today’s retail experience. In this story we explore how the technology has been applied to brands including Mulberry and Adidas.

4 technologies aiding in-store navigation
Gatwick’s in-app navigation

Big box retailers including Walmart’s Sam’s Club, Home Depot, Lowe’s and Target are using a variety of interesting wayfinding technologies to improve customer navigation inside the physical store. This piece dives into the role of innovation for more efficient customer journeys.

5 brands pushing conversions through virtual storefronts
Lego’s AR-activated experience

Brands including Macy’s and Lego are using virtual experiences in physical locations to provide shoppers with the benefit of an interactive in-person experience without needing to carry inventory. Here, we look at how these “invisible” or augmented reality storefronts are driving sales, collecting data and boosting branding efforts.

7 ways fashion brands are harnessing hologram technology
Alexander McQueen’s hologram show

The fashion industry has been experimenting with holograms for some time, using them as both elaborate marketing techniques, as well as more immersive in-store opportunities aiming to drive brand engagement. In this piece, we take a look back at some of the best use cases from the likes of Alexander McQueen and Ralph Lauren.

9 brands pushing sustainable store design
Ganni’s sustainably designed store

With sustainability an increasing priority on the agenda for fashion and retail businesses around the globe today, attention is also turning to their brick-and-mortar stores – how they’re resourced, designed and constructed. Here we explore how the likes of Stella McCartney through to Ikea are approaching it.

4 innovative retail fulfilment methods to know
Ford’s delivery robot

With the on-demand economy continuing to fuel consumer desire for instant gratification, innovation in delivery continues to rise, from crowdsourcing to the latest in robotics. Explore how tech solutions are shaping efficiency in the last mile, here.

7 brands regaining consumer trust through transparency
‘I made you clothes’ campaign

Enabling transparency is a key focus for fashion businesses today, but with rising concerns of greenwashing – from misleading PR-led campaigns to the increase of fake news – consumer trust is at an all-time low. As a result, brands are having to work harder than ever to prove their authenticity in the matter.

5 brands using gamification to drive shopping
Nike’s React Land game

Brands and retailers are jumping on the growth of the gaming market and increasingly using ‘play’ mechanics as a way to encourage shopping. Here we dive into why gamification is estimated to be a $40bn market by 2024 and explore those making the most of it already.

4 effective ways brands are tapping into the rental market
Ba&sh’s NY store

The rental market boom is sending a clear signal to brands struggling to survive in the current retail climate: it is time to adapt to changing purchase behaviors, or risk losing market share. In this piece we look at the varying benefits of stepping into this space, from sustainability to data capturing.

8 brands turning to responsible packaging solutions
Toad&Co partnered with LimeLoop

The rapid rise of the e-commerce era has seen an equally colossal increase in plastic packaging used by brands around the world, something those at the forefront of sustainability are now looking to change. Check out some of the best alternatives introduced by the likes of PVH to MatchesFashion.com.

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
business e-commerce Podcast product Retail sustainability technology

Ganni: Taking risks for long-term return

The most important question everybody needs to ask themselves relative to a more sustainable fashion industry is around cost and long-term thinking, explains Nicolaj Reffstrup, founder of Danish fashion brand, Ganni, on the latest episode of the Innovators podcast.

“If you really want to do something, you need to look at the fabrics that you’re using and see if you can convert those to recycled fabrics, or at least organic fabrics. But that comes with a cost. So the biggest and most important question everybody needs to ask themselves, is literally how much are we spending on converting our company or our brand and our product towards a more sustainable future?” he asks.

Oftentimes, the immediate follow-up query to what is the cost, is who is going to pay for it. The majority of brands in the space – including those actively making moves towards adapting their business processes – are measured on short term returns. And yet sustainability is not an overnight fix. To make the changes that are really necessary throughout the supply chain is a big and long-term investment.

So how do we convince CFOs and shareholders that it’s worthwhile – that we have to take a hit now in order to benefit in the future. Or more importantly, that there is indeed a business case there to do it full stop?   

Ganni is one exploring it from all angles. The fact it’s small and agile means it has more ability to do so, but it also means it relies entirely on an outsourced supply chain to drive the agenda forward. Power is therefore limited, but ambition is not.

Rachel Arthur, co-founder & chief innovation officer at Current Global & Nicolaj Reffstrup, founder of Ganni

Join us as we discuss with Reffstrup how the brand is flexing its muscle as well as making investments to drive towards a more sustainable future. We also explore how he’s watching innovation from other industries like food, the new rental business model he’s testing, and why he believes sustainability and fashion is a contradiction that needs to be faced by all brands.

Listen here: Entale | Spotify |  Apple Podcasts | Android Google Podcasts | Stitcher | RSS

Catch up with all of our episodes of the Innovators podcast by the Current Global here. The series is a weekly conversation with visionaries, executives and entrepreneurs. It’s backed by the Current Global, a consultancy transforming how 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. 

Categories
business data digital snippets e-commerce mobile product Retail social media sustainability technology

Analyzing fashion’s G7 pact, Gen Z’s streetwear needs, the rise of rentals

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

TOP STORIES
  • Can fashion’s latest sustainability drive at the G7 summit make a difference? (BoF)
  • Gen Z wants something very different from streetwear (Vogue Business)
  • Everyone is launching rental service. Is there enough demand? (BoF)
  • Fashion’s growing interest in recycling clothing (Vogue Business)
TECHNOLOGY
  • 52% of retailers feel ill-prepared to support emerging mobile tech (Mobile Marketer)
  • Facial recognition will be watching and storing your emotions and data (Ad Week)
SUSTAINABILITY & PURPOSE
  • Gucci and Saint Laurent face an uphill battle to get green (BoF)
  • Why Levi’s new water strategy represents an ‘evolution in thinking’ (Sourcing Journal)
  • How Copenhagen plans to reach carbon-neutral status in just six years (Fast Company)
  • Amazon under fire for new packaging that cannot be recycled (The Industry)
  • Tiffany & Co releases it’s new sustainability website (CSR Wire)
  • Fast Retailing’s jeans innovation center ramps up efforts to reduce water use (Sourcing Journal)
  • France to prohibit the destruction of unsold stock: who is going to pay for that? (Fashion United)
  • Gore-Tex. Lycra. Could fashion’s next major fabric brand be green? (BoF)
RETAIL & E-COMMERCE
MARKETING & SOCIAL MEDIA
  • Hero Cosmetics doubles down on TikTok after results dwarf Instagram’s (Mobile Marketer)
  • Nike, New Balance, and USTA serve up ads celebrating female stars for US open (Fast Company)
  • Benefit and Deliveroo dish out beauty experience (Campaign)
  • PrettyLittleThing wants podcasts to take it from fashion retailer to ‘entertainment brand’ (The Drum)
  • Rihanna plans Savage X Fenty event to be broadcast on Amazon Prime Video (Fashion United)
  • Is WeChat’s growth over? (Walk the Chat)
PRODUCT
BUSINESS
  • Ulric Jerome exists Matchesfashion.com (WWD)
  • ThredUp gets $175 million in funding as resale market continues to boom (Fashion United)
  • Victoria Secret’s parent company’s stock price continues to plummet (The Fashion Law)
  • What Shanghai Tang’s rise, fall and return means for luxury fashion (Vogue Business)
CULTURE
  • The return of the hyper-sexualised male (BoF)
  • Appropriation or appreciation? Unpacking South Korea’s fascination with black culture (I-d)
  • Will Gen Z make non-binary fashion mainstream? (Sourcing Journal)
  • The future of male grooming is gender neutral (Vogue Business)

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
data e-commerce Editor's pick Retail

Four effective ways brands are tapping into the rental market

The rental market boom is sending a clear signal to brands struggling to survive in the current retail climate: it is time to adapt to changing purchase behaviors, or risk losing market share.

The numbers don’t lie. Globally, the online clothing rental market is expected to reach $1.86bn by 2023, according to Allied Market. Disruptive fashion rental startup Rent the Runway, one of the first on the scene in 2009, has recently received a $20m funding injection from Alibaba’s founders and is now said to be valued at just under $800m.

The growing appeal of the rental market is largely due to the fact that it caters to such a large audience of consumers: from fashion-conscious shoppers who don’t want to own something they will likely only wear a handful of times, to the sustainability-focused consumer who is trying to do their bit for the planet by simply consuming and wasting less.

Globally, brands are now pursuing their own rental strategies in order to own the ecosystem in which the consumer shops. Whether the consumer is buying one day, and renting the next, they are being given the flexibility to choose while remaining within a brand’s universe, which is key to long-term loyalty. Here, we highlight three effective approaches when choosing to tap into the rental market.

Sustainability
Filippa K's Lease program
Filippa K’s Lease program

Swedish furniture company IKEA has recently announced it is piloting a furniture-leasing program at one of its Switzerland stores, starting with office furniture. The program, which includes refurbishing items once returned and leasing – or even selling – them again, is part of the company’s efforts to develop a circular business model.

Meanwhile Stockholm-based clothing label Filippa K leases its clothes as a way of promoting a more sustainable consumption model within the industry. Customers can rent anything they want for four days at 20% of the full price, with the cost of cleaning the garment included. According to the brand’s sustainability director Elin Larsson, the rental program grew 123% in 2017.  

Like Ikea, the initiative is just one part of the brand’s effort to achieve a circular business model by 2030, which also includes goals such as all garments being fully recyclable, achieving a traceable supply chain, and making the business as a whole more resource-efficient, meaning it will produce only what is needed and purchase the right amount of materials to do so.

Data-capturing
Rent the Runway designer collections
Rent the Runway’s designer collections

Many established brands dipping their toes into the rental market are doing so by teaming with new or more established players in the field in order to gather data about how customers are shopping and behaving.

After years of receiving data from Rent the Runway on how well their clothing is performing as rentals, US designers Prabal Gurung, Jason Wu and Derek Lam are introducing exclusive collections to the platform driven by consumer preferences. For example Gurung’s inaugural line, sold exclusive on RtR, will feature adjustments from different cuts to colors and prints that respond directly to customer feedback.

Another retailer trying to better understand how consumers are behaving is luxury department store Browns, which last year teamed up with rental startup Armarium on a two-week in-store pop-up presenting past season party pieces from designers such as Alexander McQueen and Erdem.

Customer acquisition
Ba&sh's NY store rental
Ba&sh’s NY store

French brand Ba&sh is expanding its US presence and hoping to garner the attention of a wider audience with a concept store in New York offering a rental program where customers can rent pieces entirely free of charge, for the whole weekend. Customers can visit the store and borrow a curated rack of garments from the current collection on a Friday between 5-7pm, as long as they are returned by Monday at 7pm.

With the service, the brand’s founders wanted to make guests feel like they are borrowing clothes from their friends’ closets. “This is an ideal place to test a concept we’d like to try in other major cities where Ba&sh also has a presence,” said Sarah Benady, Ba&sh’s CEO for North America, to French website, Frenchly.

New revenue streams
Aoki's Suitsbox service rental
Aoki’s Suitsbox service

Express and Ann Taylor are major retailers that have both recently introduced a subscription service for renting their clothes. Following the success of Rent the Runway’s business model and the many alternatives that have flooded the market since, customers to both retailers can rent a limited number of items a month for a set fee.

“The consumer who is more interested in access versus ownership is happening across many industries,” said Jim Hilt, Express’ chief customer officer, in an interview with CNBC. “We looked at this evolution and asked, ‘how do we participate?’.”

In Asia, a region where used clothing often carried negative connotations, brands and retailers are also in on the action, particularly targeting urban workers. Menswear brand Aoki is offering a subscription service, Suitsbox, where for 7,800 yen a month customers can rent a complete outfit composed of suit, shirt and necktie. Retailer Renown, meanwhile, is offering a suit rental service for a flat month fee with a minimum six-month contract. “From the age of buying clothes, we have entered the age of renting them,” said Renown’s corporate communications head, Tomohiro Nakagawa.

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.

Categories
business e-commerce product Retail sustainability Uncategorized

Vince launches retail subscription service, Unfold

Vince AW18 Campaign
Vince Fall 18 Campaign

Vince is launching a clothing subscription service, titled “Unfold”, which will include priority delivery, returns, laundry costs and insurance for a flat monthly fee of $160. In doing so, the US-based brand will be the first contemporary fashion label to offer this type of subscription service.

“Vince Unfold is an innovative new subscription service that will tap our existing product assortment to drive incremental revenue while further advancing awareness of the Vince brand,” Brendan Hoffman, CEO of Vince, tells WWD. “We believe that subscription services will play a much greater role in consumer shopping patterns in the future.”

Every month, customers will be able to rent up to four pieces from the retailer. If the customer wishes to keep the piece they rent, they can purchase it at a discount of 20-60%, depending on the seasonality of the merchandise.

According to Hoffman, rental platforms are becoming increasingly relevant in the fashion industry. For example Rent the Runway, which pioneered the subscription model in fashion when it launched in 2009, has just announced its expansion into 15 WeWork office buildings across the US, where customers can drop off return items for the retailer. In another example of retailers embracing the sharing economy, earlier this year London-based department store Browns teamed up with luxury rental service Armarium to offer its customers high-end fashion for rental for two weeks in the summer.

How are you thinking about innovation? We’re all about helping you build innovative integrations and experiences. TheCurrent is a consultancy transforming how fashion, beauty and consumer retail brands intersect with technology, powered by a network of top startups. Get in touch to learn more.

Categories
Retail

Ba&sh’s new NY store offers free clothing rentals

Ba&sh in New York City

French label Ba&sh’s new store in New York allows shoppers to borrow the brand’s clothes at no cost, as long as they are returned after the weekend.

The 1,700-square-foot space, located in Soho, aims to act as a “dream closet” and position the brand as a friend the customer can borrow clothes from whenever they have a special event. Customers borrowing clothes can only do so every Friday between 5-7pm, and they must be returned by Monday at 7pm.

The opening is part of a bigger expansion strategy from the company in the North American market, as well as a customer engagement push that includes a series of permanent in-store activities.

“It’s an experiential store, the first one designed to thoughtfully elevate the existing experience to a new level. The store was a natural evolution. Our brand has always been rooted in special relationships,” said global CEO, Pierre-Arnaud Grenade, to WWD.

The brand, which currently operates 200 stores globally but only five in the US, hopes the new space also works for customer awareness and acquisition – by making clothes available to rent free of charge, it allows customers to discover the brand more easily. For this launch, a pop-up area will promote other French brands who have no US presence, such as jewelry label Atelier Paulin and luxury candlemaker Baobab.

The space will also offer a series of events that encourage customers to bring a friend, such as monthly supper clubs, weekly French lessons (of which 75% of the cost is subsidized by the brand), weekly complimentary French breakfast and a children’s play area so customers can shop in peace.

As part of the strategy, the brand’s e-commerce team has also relocated to the city. Currently, 20% of the brand’s US sales are completed online, which is higher than the rest of the world.

The moves comes as consumers increasingly look to the notion of the sharing economy – borrowing or renting items rather than having ownership of them. It’s through this that businesses including Rent the Runway have grown in relevancy in today’s market. One  fifth of millennials reportedly now say they would consider renting clothing, according to Hammerson and Verdict.

How are you thinking about retail innovation? We’re all about finding you the perfect partners to do so. TheCurrent 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.

Categories
business Campaigns digital snippets e-commerce product Retail Startups sustainability technology

ICYMI: Chinese moguls rebooting fashion, biotech shaping the industry, smart checkouts rising

China’s internet moguls are rebooting fashion
China’s internet moguls are rebooting fashion

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

TOP STORIES
  • How China’s internet moguls are rebooting fashion [BoF]
  • How biotechnology is reshaping fashion [BoF]
  • Smart checkouts will process $45B in transactions by 2023, study says [MobileMarketer]
  • 5 tech innovations we’re talking about from fashion week season [TheCurrentDaily]
TECHNOLOGY
  • When it comes to technology, fashion is still a laggard [BoF]
  • How Diageo is using Amazon Echo and Google Home [Digiday]
SUSTAINABILITY & PURPOSE
  • John Lewis invests in plastic reduction [Drapers]
  • Why does so much ethical fashion look the same? [Fashionista]
RETAIL & E-COMMERCE
  • Express is the latest retailer to launch a clothing rental service [CNBC]
  • Fruit of the Loom celebrates Seek No Further with interactive shopping experience [FashionUnited]
  • Forever 21 invests in online styling service DailyLook [RetailDive]
  • Is the future of online deliveries allowing drivers access to your home? [TheIndustry]
MARKETING & SOCIAL MEDIA
  • Hollister partners with Sit With Us [WWD]
PRODUCT
  • Why mainstream brands are embracing modest fashion [CNN]
BUSINESS
  • Revolve officially files for IPO [Fashionista]
  • Walmart buys Eloquii for undisclosed amount [RetailDive]
  • Anya Hindmarch losses mount to £28.2m [Drapers]
  • Payments startup Klarna raises $20M from H&M, its second backer from the fashion world [TechCrunch]
CULTURE
  • The London Underground is getting vending machines to clean all your dirty clothes [Wired]
  • Meet the robotic museum guide that will turn art into sound for the visually impaired [FastCompany]

How are you thinking about innovation? We’re all about finding you the perfect partners to do so. TheCurrent 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.

Categories
business digital snippets e-commerce product Retail social media sustainability technology

ICYMI: Farfetch’s IPO, everything to know about CGI influencers, Bitcoin hairspray

Farfetch IPO
Farfetch IPO

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

TOP STORIES
  • Farfetch files for IPO, testing investors’ appetite for luxury [BoF]
  • The numerous questions around the rise of CGI models and influencers [Vogue]
  • You can buy hairspray with Bitcoin now [TheCut]
  • Yuval Noah Harari on what the year 2050 has in store for humankind [Wired]
TECHNOLOGY
  • Amazon is losing its smart speaker dominance [AdWeek]
  • Microsoft’s HoloLens mall demos bring early AR glasses to the masses [VentureBeat]
  • Los Angeles subway to become first in the US to use body scanners [DigitalTrends]
SUSTAINABILITY & PURPOSE
  • Fur: A reality check [BoF]
  • Is clothing rental the secret to making fashion sustainable? [Independent]
  • Fashion for Good launches toolkit on how to develop Cradle to Cradle denim [FashionUnited]
  • Why Instagram’s ‘outfit of the day’ hashtag is bad for fashion – and bad for the soul [TheGuardian]
  • German outdoor brand Vaude starts upcycling community [FashionUnited]
RETAIL & E-COMMERCE
  • McDonald’s unveils new Apple store-like Chicago flagship location [HypeBeast]
  • Superga, Cos, Rains and Fred Perry join Coal Drops Yard lineup [Retail Gazette]
  • 5 reasons why LA is the place to be for retailers [FootwearNews]
  • Consumers opt for marketplaces, fast retail, personalization [WWD]
MARKETING & SOCIAL MEDIA
  • Neutrogena, Sonos beta test use of video in Amazon search campaigns [MobileMarketer]
  • Alibaba’s to host first fashion show in China [JingDaily]
  • Rebecca Minkoff to present new brand identity during NYFW [WWD]
  • It’s never been easier to buy a pair of Yeezys [GQ]
  • Counterfeiting make-up is a new trend in Chinese how-to videos [JingDaily]
PRODUCT
  • Everlane is launching ‘clean silk’ in a move toward greater sustainability [Fashionista]
  • This digitally-knitted sportswear is like 3D-printed clothing [Wired]
  • River Island launches homeware [Drapers]
BUSINESS
  • Why the gender discrimination lawsuit against Nike is so significant [Vox]
  • Mulberry hit by House of Fraser collapse [FT]
  • $500 million in counterfeit Louis Vuitton, Gucci, Chanel Goods seized in one of the largest busts to date [TheFashionLaw]
  • Bringing affordable fast fashion to Africa [WWD]
CULTURE
  • How make-up swatches became a political battleground [Dazed]
  • In hype beast homes, Supreme accessories are the hot decor [Fashionista]

How are you thinking about innovation? We’re all about finding you the perfect partners to do so. TheCurrent 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.

Categories
Retail Startups

Browns partners with luxury rental service Armarium

Browns x Armarium
Browns x Armarium

London-based multi-brand store Browns has teamed up with luxury rental service Armarium, to offer its customers high-end fashions for loan for two weeks this summer.

Shoppers at the South Molton Street flagship, will have access to the US-based platform’s inventory, as well as some of Browns’ own stock that has been added especially, via a dedicated in-store pop-up space.

They will also be able to continue renting certain designer pieces from Browns online at Armarium after the pop-up has ended.

Holli Rogers, CEO of Browns, said: “Great styles are truly seasonless however the
customer chooses to engage with them. Armarium’s bought/ borrowed approach speaks to the topic of sustainability, therefore as a retailer we can extend the lifecycle of our products giving the client access to great pieces regardless of time, closet or pocketbook limitations.”

The notion of this so-called “shared economy”, has been picking up steam in the fashion industry, thanks to big players such as Rent the Runway. It remains relatively novel at the true luxury end of the market however, especially with in-season stock.

Trisha Gregory, founder of Armarium, told us: “There is a shift in the fashion retail landscape and a new generation of spending with a shared economy mindset. With a quest to deliver an elevated level of service, Armarium both protects brand integrity and ignites new clientele allowing brands to reach both traditional clients and new consumers.”

Added Ida Petersson, womenswear buying director at Browns: “We are excited to explore life beyond mark downs for the beautiful product that our teams have bought season on season. Sustainability and inclusiveness are two subjects we feel very strongly about, and with Armarium we are making a first step towards extending the lifecycle of our stock as well as offering the Browns experience to a wider audience.”