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business Comment data e-commerce Editor's pick Retail Startups technology

Buy, build or partner: A new model of working with startups

Earlier this summer Nike announced it was acquiring AI startup, Celect, in order to “beef up its predictive analytics strengths”. It’s a smart move. A data move. Like all things artificial intelligence, this solution needs a lot of consumer or retail data to get smarter. And Nike, with its $36.4 billion in revenue last year, has a lot of data. 

A tech acquisition is a complicated beast that comes with as many challenges as it does advantages. And it should not be seen as an innovation silver bullet by most corporates. 

Take augmented reality by comparison for instance, an area where we’ve seen multiple acquisitions over the past couple of years. This space is changing so rapidly, the tech you buy is almost immediately obsolete. There is higher image quality every day, new capabilities in what it can read – like skin diagnostics and not just makeup in beauty for instance – and constant challenges to stay ahead in the market as a result. 

For a company that has pulled such startups in-house, there needs to be serious commitment to advance the technology. Unfortunately, what tends to happen is that a lot of the potential development work gets lost. A startup on the outside, by comparison, has to keep evolving in an aggressive way in order to survive. But how can an acquired startup remain competitive if they can’t seek out your competitors as clients? 

Another approach to innovation is building, where brands create solutions in-house, or with agency partners, from the get go. More often than not, this sort of work comes under the experiential header: a tech solution based on the creative. What we frequently see as a result, is big investments (six figures and above) for little return due to the fact the technology just doesn’t rise to the task. 

Not that there aren’t successes within all this – there are many examples of building solutions internally, especially foundational or backend tech – that do make sense. But in our experience with the companies we work with and have gotten to know, it often doesn’t work. Even for basic technology needs, building in-house can frequently be met with many of the same challenges as an acquisition does, namely the fact progress and development gets caught up in the politics and daily grind of everyday business. 

It doesn’t matter what size of organization you are in this case either. We work with large public companies that are leaders in the industry – and we see the same challenges time and again. Things don’t evolve quickly enough and objectives are not met. Eventually, no one is watching that investment any more and innovation gets a bad rep. 

So we believe in a third option. 

With the challenges presented by buying and building, not to mention a lack of progress in internal culture making room for innovation to be successful, we decided to create a platform for partnerships. This middle step is known as open innovation. 

Very simply, this is about setting objectives internally, creating a blueprint of what you want, and then searching exhaustively for the best external partners that fulfil that brief. 

One of the benefits of this tends to lie in the quality of output you receive. When working with an outside partner – particularly at the startup level – a new large corporate client could become the centrepiece to the startup’s growth. This often means the team will continue to update the product and guard its integration after launch. It becomes part of their story. Having the chance to work with an established brand or retailer is almost sacred to an entrepreneur, which is a very different mindset to what you may find in an employee. 

But startups struggle to deliver work ethic with a full understanding of execution needs, deadlines and ability to navigate the red tape in corporations that could hold back the project. That’s why we believe open innovation is most successful when it comes with an assigned partnership manager. Our ultimate role is about providing the framework that can lead to success. 

What we’re increasingly being asked for more recently however, and thus now offering, is essentially a hybrid model – one that is all about partnerships, but unique ones that more closely align with the optimal version of building. This is where we start talking about having your cake and eating it too. 

Many companies have figured out that working with curated top startups is the most cost-effective and efficient option. But then last year, we started to see a new conversation emerging around the fact that often what retail executives look for just doesn’t exist as yet. The kind of solution you have in mind is not what is being pitched to you. You look at all the possible startups in the space and all of them are missing that one thing. You don’t want an incomplete approach. You want the full package.

How are you thinking about new 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. Each of the rules referenced above is matched by one of our products and services. Interested in how? Get in touch to learn more.

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

ICYMI: Farfetch acquires Stadium Goods, the UN’s fashion climate charter, ASOS profit warning

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

TOP STORIES
  • Farfetch acquires Stadium Goods: Why sneaker resale is becoming big business [Forbes]
  • Milestone fashion industry charter for climate action launched [UN]
  • ASOS issues profit warning as Christmas sales falter [The Industry]
TECHNOLOGY
  • China’s retailers turn to real-world surveillance to track big spenders [Wired]
  • Alexa wants you to answer questions [Cognition X]
  • Is the face-swapping robot with multiple ‘personalities’ cool or just plain creepy? [Mashable]
  • Racist, sexist AI could be a bigger problem than lost jobs [Forbes]
  • Is tech too easy to use? [New York Times]
SUSTAINABILITY & PURPOSE
  • Kering launches first ‘regenerative sourcing’ standard for fashion suppliers [Edie
  • Francisco Costa is back—with the chicest sustainable beauty brand you’ve ever seen [Vogue]
  • The first “plastic-free” supermarket aisle [BBC]
  • Lacoste joins list of brands banning mohair  [Fashion United]
  • Companies used to stay quiet about politics. In 2018, social causes became integral to their branding. [Vox]
  • Is online shopping better or worse for the environment? [WWD]
RETAIL & E-COMMERCE
  • Here’s how Nike, Alibaba and Walmart are reinventing retail [Wired]
  • The future of fashion is made-to-order, according to Farfetch CEO José Neves [Fast Company]
  • Amazon Go eyes London’s West End for first UK store [Retail Gazette]
  • Why Starbucks is experimenting with experience-based retail [Digiday]
  • E-commerce is thriving in Africa despite hurdles to the “last mile” [Quartz]
  • ‘It’s a big data game’: Startups compete to reinvent the convenience store [Digiday]
  • Lululemon expands test for 1st loyalty program [Retail Dive]
MARKETING & SOCIAL MEDIA
  • You can try on the latest Adidas sneaker drop on Snapchat [Engadget]
  • Mall of America debuts holiday AR scavenger hunt [Mobile Marketer]
  • Mr Porter launches gift assistant with Facebook Messenger [Fashion Network]
  • Lululemon and Strava team up to launch a series of virtual races [Runners World]
  • Calvin Klein kills print ads — will other fashion brands follow suit? [Footwear News]
PRODUCT
  • H&M teams up with cult brand Eytys for unisex collection [Fashion United]
BUSINESS
  • Millennial consumers rule the luxury market – how are brands coping? [SCMP]
  • Samsung’s Supreme collaboration in China is with a “counterfeit organization,” Supreme says [Quartz]
  • LVMH expands portfolio with $2.6B Belmond travel deal [Retail Dive]
  • H&M says full year sales increased by 5 percent [Fashion United]
  • Alberta Ferretti under investigation by Italy’s antitrust authority [Fashion United]
CULTURE
  • Self-Portrait is growing in the age of streetwear — without flashy logos or sneakers [Fashionista]
  • Prada pulls monkey designs following outcry over racist imagery [Complex]
  • Diversity on magazine covers increased by a record double-digit percentage in 2018 [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.

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Editor's pick Retail technology

Mulberry launches interactive retail experience for the holiday season

The #MulberryLights installation
The #MulberryLights installation

British luxury brand Mulberry has teamed up with innovation consultancy, Current Global, to create an interactive retail installation that will travel around the UK for the festive period.

The initiative, which is tied to the brand’s #MulberryLights campaign, celebrates how light, colour, shapes and people come together to create a modern British Christmas.

It is anchored by a smart vending machine that will appear in stores in London, Leeds, Manchester and Edinburgh, designed to reward participation, amplify social engagement and capture data. The experience invites users to share their lights-inspired images with the hashtag #MulberryLights, to gain instant access to the prizes stored.

The machine works by verifying that the social media share has taken place on either Instagram or Twitter. It then invites users to interact in a bespoke gaming experience through its digital portal, before rewarding them for taking part. Each day, one lucky player will win the top prize of a £1,000 gift card. Other prizes include small leather goods, stickers and festive chocolate. Every user can also enter the chance to win a further £5,000 to spend on gifts at Mulberry.

The #MulberryLights smart vending machine
The #MulberryLights smart vending machine

The experience was produced by Current Global, an innovation consultancy transforming how fashion and luxury brands intersect with technology.

Liz Bacelar, CEO of Current Global, said: “Mulberry came to us seeking a creative and interactive experience that would help drive store footfall during the holiday period. Smart vending machines are currently having a moment in retail; creating incredible engagement with fans as well as relevancy in a noisy and overly saturated market. With a portfolio of thousands of startups and top technologies from around the globe, Current Global was able to quickly identify the ideal partner to co-create the #MulberryLights concept. This is another example of how open innovation – collaboration with external partners – is the most effective route to real innovation.”

The installation will be in Mulberry’s Regent Street flagship from November 15-18. It kicks off with an immersive pop-up light experience, alongside drinks and live music while the Regent Street lights are turned on. It then travels to Leeds November 22-25, Manchester November 26-28, and Edinburgh November 29 – December 2. A second machine will also appear in New York in December.

Further stickers, fly posters and projections from Mulberry will be dotted around London, Manchester and Edinburgh, encouraging consumers to take photos and tag them on social media with the hashtag.

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

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business Podcast

Ozwald Boateng on why creatives need to think like startups

Ozwald Boateng
Ozwald Boateng

Designers need to reposition their businesses as startups to tap into much-needed investment, says menswear designer, Ozwald Boateng, on the latest episode of TheCurrent Innovators podcast.

In conversation with Liz Bacelar at a Spotify event in Paris, Boateng, whose body of work propelled the craftsmanship of London’s Savile Row to international recognition, says he believes the creative world needs to learn from technology in terms of how it approaches funding.

Listen here: Apple Podcasts | Android | Google Play | Stitcher | RSS

The fashion industry’s model of investors taking control of designers’ names early on is broken, he explains, saying that we can all learn from new direct-to-consumer businesses that have overcome this by approaching differently the way that they’re backed instead.

“What amazes me is when you see these young creative talents, still owning sizeable chunks of the business after raising so much money and getting these valuations of a billion plus – you kind of go, my god, can that really happen, it’s almost like a dream, but in the tech world, it’s the norm,” he notes.

“This creates a huge amount of independence and opportunity for the designer – you’re no longer forced to follow the rules, so that’s exciting. For me as a business, I’m looking at ways to take advantage of that.”

Conversely, he says the technology world also needs to learn from creatives. “I think if more designers looked at the world of technology and applied their creative to the tech, I am sure we would see some very interesting and groundbreaking ideas,” he comments.

He explains that designers are trained to always look forward, to spot trends and understand needs, so it’s something he believes would work exceptionally well when applied to technology.

“I would happily use a body scanner [for my made-to-measure suits], it makes a lot of sense. But there’s a lot of things I could add in terms of how I need the technology to work,” he notes.

“So I see a partnership. Eventually both [designers and tech companies] will see they need each other, and then they’ll just make it work.”

During the conversation, the duo also talk about his new uniform designs for British Airways, his time as creative director at Givenchy and the role of race and diversity in the industry.

Catch up with all of our episodes of TheCurrent Innovators here. The series is a weekly conversation with visionaries, executives and entrepreneurs. It’s backed by TheCurrent, 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.

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e-commerce Editor's pick Retail Startups sustainability technology

What recent H&M investments in AI, recycling and payment tech mean

Thread
Thread

H&M has invested in several major startups in recent months indicating a direction of travel for the retailer that’s related to greater personalization, a circular economy and increased convenience for shoppers.

The group announced it is backing men’s personal styling service, Thread, this week through its venture arm, CO:LAB. It is putting $13m into the artificial intelligence-based startup, which has just closed a $22m Series B round.

The UK-based service offers recommendations for men on what to wear by combining data with a layer of human insight.

The team behind it said the funding will go towards “hiring data scientists and engineers to make the artificial intelligence much more powerful”, according to CEO and co-founder Kieran O’Neill. The site sells 536 brands, including Paul Smith, Diesel, Barbour and Hugo Boss, among others.

What Thread has alongside that, of course, is data into how men shop and what their tastes are. H&M says its interest lies in exactly that to strengthen the personalized shopping experience that it too can offer shoppers at a time when such expectations are only increasing.

With that same consideration comes the fact shoppers now demand better options around payments, it has also noted. Enter its $20m investment in Klarna, a Swedish fintech startup.

The funding, announced just last week, signals a global partnership that will see Klarna’s digital payments technology integrated into H&M’s physical and digital stores. The outcome will “provide an enhanced omnichannel customer payment offering [and] a streamlined post-purchase service in the H&M app”, according to the company.

What Klarna is particularly known for is its “try before you buy” service, which gives shoppers the flexibility to pay for their items later. That will be available eventually to H&M customers in 14 markets, starting with the UK and Sweden in 2019.

Karl-Johan Persson, CEO of the H&M group, referred to the move as part of a strategic and relentless focus on creating great customer experiences.

Both come at a time when H&M, which has been struggling in the market, has promised its shareholders that it will focus on improvements around not only inventory, but the shopping experience directly, based on understanding the changing retail and consumer landscape it sees before it.

“We know the industry is undergoing a huge shift – the catalyst for this transformation is technology. It’s not just one technology, but a set that includes artificial intelligence, augmented reality, robotics and more,” he said back in February at the company’s Capital Markets Day.

“There are changing consumer behaviours as a result – they are expecting more and more. They expect a more tailored offering in how we set up our stores, in how we communicate with [them]. They want a hassle free shopping experience, and the ability to shop anywhere and anytime. And they want even better designs at higher quality and better prices.”

Meanwhile, the company is also placing a big focus on sustainability. One of its other broad ambitions is to move to a 100% circular model by 2030, which means that everything it uses will go back into the system to be either recycled or reused.

Another, quieter investment it announced in August helps with this – it led a £5m round for polymer recycling technology startup, Worn Again Technologies. This is a business focused on how to drive circularity for the fashion industry by separating, decontaminating and extracting polyester polymers and cellulose from cotton to create new products as part of a repeatable process.

As Cyndi Rhoades, Worn Again Technologies’ CEO, said: “There are enough textiles and plastic bottles ‘above ground’ and in circulation today to meet our annual demand for raw materials to make new clothing and textiles. With our dual polymer recycling technology, there will be no need to use virgin oil by-products to make new polyester and the industry will be able to radically decrease the amount of virgin cotton going into clothing by displacing it with new cellulose fibres recaptured from existing clothing.”

At present, less than 1% of non-wearable textiles are turned back into new textiles due to technical and economic limitations of current recycling methods. This will therefore help with H&M’s goal.

As the group’s head of sustainability, Anna Gedda, explained on TheCurrent Innovators podcast recently: “We only have one planet, and the toll [the fashion industry] has on resources today is simply unsustainable.”

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.

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

ICYMI: Apparel manufacturing coming home, shopping by voice, French brands focus on startups

Is apparel manufacturing coming home?
Is apparel manufacturing coming home?

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

TOP STORIES
  • Is apparel manufacturing coming home? [McKinsey]
  • Voice command: is it the future of online shopping? [FashionUnited]
  • French retail and fashion groups deepen focus on startups [WWD]
  • Calvin Klein and Tommy Hilfiger are sending a clear signal that Amazon is the future of fashion, and it’s terrible news for department stores [Business Insider]
TECHNOLOGY
  • Magic Leap is real and it’s a janky marvel [TechCrunch]
  • Fast Retailing signs deal to fully automate warehousing [WWD]
  • ‘Building the digital factory’: 3D printing comes to Shopify [Digiday]
  • Chinese investment into computer vision technology and AR surges as US funding dries up [TechCrunch]
  • Amy Winehouse is going on tour as a hologram [Hypebeast]
SUSTAINABILITY & PURPOSE
  • Dove gets certified cruelty-free [FashionNetwork]
  • Why fashion’s anti-fur movement is winning [BoF]
  • The Maiyet Collective’s concept store: reshaping ethical lux [Stylus]
  • You buy a purse at Walmart. There’s a note inside from a “Chinese prisoner.” Now what? [Vox]
RETAIL & E-COMMERCE
  • Amazon Fashion to launch London pop-up [Drapers]
  • Brandless is launching a pop-up shop in NYC [TechCrunch]
  • Supreme envy: The drop model gets used for burgers, tacos, toothbrushes [Digiday]
  • Jenna Lyons is back, and she’s returning with a brand-new multi-platform venture [Vogue]
MARKETING & SOCIAL MEDIA
  • Three Nasty Gal ads banned by watchdog [FashionNetwork]
  • ASOS unveils campaign and collection for new Gen-Z label Collusion* [TheIndustry]
  • Adidas launches new membership program [HighSnobiety]
  • Why brands are launching secret apps for superfans [BoF]
  • Snapchat becomes the mobile HBO with 12 daily scripted Original shows [TechCrunch]
  • Superdry unveils disabled mannequin shop window for Invictus Games [TheIndustry]
PRODUCT
  • Alexander Wang is launching a new Uniqlo collaboration that’s all about underwear [Vogue]
BUSINESS
  • Judge removes Deciem founder from CEO role [BoF]
  • Sears files for Chapter 11 bankruptcy [WSJ]
  • Superdry issues profits warning [Drapers]
  • Coast falls into administration and is bought by Karen Millen [TheIndustry]
  • Walmart acquires online lingerie retailer Bare Necessities [Reuters]
  • Lyst launches French version after LVMH investment [FashionNetwork]
CULTURE
  • The most diverse fashion season ever on the runway, but not the front row [NY Times]
  • Met Costume Institute embraces ‘Camp’ for 2019 blockbuster show [NY Times]
  • ‘Gender Bending Fashion’ to be focus of new show at Museum of Fine Arts in Boston next March [WWD]

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 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.

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Editor's pick Retail technology

Mulberry focuses on omnichannel experience with new London flagship

Mulberry's new London flagship
Mulberry’s new London flagship

British luxury label Mulberry is introducing a connected retail experience at its new London flagship store, as part of a wider strategy focused on customer experience.

The brand is working with payments platform, Adyen, and mobile assisted selling platform, Tulip, to bridge the gap between online and offline shopping. In store, this will include mobile checkouts and an endless aisle feature, where customers can purchase items that are out-of-stock in-store, online. Additionally the store will also feature click-and-collect and two-hour same-day delivery across Central London.

Using Adyen’s platform, Mulberry will also be able to offer overseas shoppers their preferred local payment methods.

“I’m excited to be opening our new global flagship at 100 Regent Street where we have created a rich and vibrant store concept that brings to life all the elements of British landscape and architecture that inspire us,” said Johnny Coca, the brand’s creative director. “The pace and energy of Regent Street captures the spirit of Mulberry and is the perfect setting to unveil this new chapter of our brand.”

In celebration of the launch and London Fashion Week commencing, Coca and Stephanie Phair, chairman of the BFC, will be co-hosting a supper club this Friday (September 14).

On Saturday (September 15), the brand is inviting customers in-store to enjoy cocktails and become a #MulberryMuse for the AW18 campaign through a bespoke interactive studio that creates customized portraits that are played onto the store windows.

The London flagship launch comes following Mulberry’s major push in Asia earlier this month, through a four-day event in Seoul called “Mulberry x Seoul”. The initiative featured a series of events including a runway show at the K Museum of Contemporary Art showcasing the AW 18/19 collection, which was also broadcast live across social media.

Mulberry’s new London flagship

For the remaining days the same venue also hosted a gala, while customers could further discover the brand through a pop-up store, a selfie studio and films. The initiative also gave brand fans the chance to win gifts and buy a limited edition handbag, which was only available in Korea for two weeks.

“Korea was the second [biggest] country in terms of revenue so it was important to be part of that expansion and to communicate more about the brand and its heritage to the Korean customer,” said Mulberry’s creative director Johnny Coca about the event.

Luxury labels are increasingly looking to diversify their storytelling strategies, and over the past few years this has included taking the brand on the road to markets it has a solid customer base, or a huge potential in. Last week, Tommy Hilfiger hosted its Tommy Now runway event in Shanghai, China. The event acted as an anchor to a content ecosystem that helps customers – who are often new to the brand – better understand its DNA. This strategy and more was the subject of our latest episode of TheCurrent Innovators podcast, featuring Tommy’s chief brand officer, Avery Baker.

How are you thinking about retail 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.

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Editor's pick sustainability

Gucci launches online platform to promote sustainable purpose

Gucci launches Gucci Equilibrium

Gucci has launched Gucci Equilibrium, an online communications platform designed to connect “people, planet and purpose” and to bring positive change in order to secure our collective future.

The aim is to promote the label’s commitment to sustainability and transparency both to its customers as well as internally to its 13,000 employees, its suppliers and the wider Gucci family. Focusing on purpose, the site explains, is about demonstrating integrity.

“These are critical times when we can all play our part in helping to deliver on the UN Global Goals and the Paris Climate Agreement,” Gucci CEO Marco Bizarri told WWD. “The only way to do that is by bringing people together, sharing ideas, innovation and experiences. This is the objective we have set for Gucci Equilibrium.”

The name reportedly comes from a balance between the aesthetic of what the brand produces, with the ethics in which it believes. The launch is accordingly part of a 10-year sustainability plan announced by the brand, which will be anchored in three pillars: environment, people and innovation.

“Environment” sees Gucci setting the target to guarantee the traceability of 95% of its raw materials, as well as the recent announcement it is banning furs; “People” includes a series of empowerment and diversity campaigns and social initiatives; and “Innovation” focuses on scouting and incubating startups, an approach also seen with the launch of its ArtLab space.

Visiting the platform allows the user to learn more about each specific initiative Gucci is embarking on under each pillar. In doing so, the brand is providing a content platform not only to celebrate and promote its achievements, but ensure it is held accountable for its actions in-keeping with its newly announced purpose.

Gucci has also announced a company-wide program alongside encouraging staff to dedicate 1% of their working time to volunteering in local communities.

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

ICYMI: Macy’s buys Story, Gucci’s new flagship, AI and the future of fashion

Futuristic fashion by Tim Walker
Futuristic fashion by Tim Walker

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

TOP STORIES
  • Macy’s buys Story concept [RetailDive]
  • Gucci plants its flag in Soho [BoF]
  • How artificial intelligence will impact the future of fashion [Vogue]
TECHNOLOGY
  • Can AI and AR turn your prospects into customers? [Inc]
  • How beauty brands like Coty and Shiseido are using voice assistants [Glossy]
  • Ticketmaster to trial facial recognition technology at live venues [Venture]
  • Verisart brings blockchain certification to the global art auction market [TechCrunch]
SUSTAINABILITY
  • Fast fashion goes green with mushrooms, lumber scraps, and algae [Bloomberg]
  • Applied DNA Sciences confirms traceability of leather [WWD]
RETAIL & E-COMMERCE
  • Walmart.com redesigns as the anti-Amazon [Co.Design]
  • Farfetch partners with Stadium Goods on sneaker hub [WWD]
  • Brandless’ pop-up is focused on community engagement rather than selling products [AdWeek]
  • China’s live-streaming fashion boom changing the way Gen Z shops [SCMP]
MARKETING & SOCIAL MEDIA
  • Inside the bitter war to bring Tupac and Michael Jackson back to life [Wired]
  • Diet Prada unmasked [BoF]
  • Instagram quietly launches payments for commerce [TechCrunch]
PRODUCT
  • Amsterdam is solving its gum litter problem by making shoes out of recycled gum [AdWeek]
  • ElektroCouture: Inside the fashion house behind Swarovski’s $60,000 light-up dress [Forbes]
BUSINESS
  • Over 400 startups are trying to become the next Warby Parker. Inside the wild race to overthrow every consumer category [Inc]
  • Prada: Making the most of its moment [BoF]
  • Alibaba’s anti-counterfeit group now has 105 brand members, including L’Oréal and Bose [TheDrum]