Designers aim for even faster fashion. Image copyright Reuters US designers are adopting the "show-now, shop-now" trend during New York fashion week that allows consumers to buy designs straight from the catwalk.
Tom Ford and Tommy Hilfiger are among those that have followed British fashion house Burberry in making new styles available to buy immediately. Most shows are now live-streamed and featured on social media. That has prompted some labels to show designs for the coming autumn/winter rather than next year's summer ranges. Cartier’s $600,000 Watch Shows Risks of Extending Luxury Brands.
GENEVA, Switzerland – For over a century, Cartier has sold elegant, if simple, timepieces such as the Tank, which starts around $2,500 – affordable by Swiss watch standards, and never confused with the level of technical finesse from brands like Patek Philippe.
Then a decade ago, Cartier sought to prove its own prowess, investing millions to build one of Switzerland’s largest watch factories and bringing in an industry veteran to head a fine watchmaking unit. The jeweller delved into the segment for connoisseurs known as “complicated pieces,” which sport analog mechanisms such as calendars that adjust for leap years and require painstaking hand craftsmanship. The effort culminated last year in the Rotonde de Cartier Grande Complication Skeleton, a glass-backed confection priced at more than $600,000. But then the Chinese demand that had supported the market collapsed. For Cartier, a brand traditionally associated with jewellery for women, joining that men’s club was a stretch. How Burberry is Operationalising 'See Now, Buy Now' LONDON, United Kingdom — Burberry will unveil its first ever “see now, buy now” show at London Fashion Week on Monday, heralding a new era for the industry in which fans can get their hands on "seasonless" items immediately after they are presented on the runway.
But the new approach has significant implications for production and supply chains, which were out of sync with communications and marketing departments, and all eyes remain on the brand to see how it has executed the changes needed to adapt towards a fashion immediacy model. When the company announced its new consumer-facing concept in February, it was held up as a solution to long-standing problems with the traditional fashion calendar.
Fashion shows had long been strictly industry events for press and buyers to preview collections. The innovative concept ignited a new chapter for the global fashion industry. If any brand can make it work though, it is Burberry. Designing Sampling Burberry's latest campaign | Source: Courtesy. Luxury brands tap into social media to reach Chinese customer. Luxury brands have hit some bumps on the road to expanding their sales in China, so many are coming up with new ways to reach their customers, especially younger ones, by opening up more social media accounts.
CCTV’s Hu Xiaocen reports. Luxury brands tap into social media to reach Chinese customer Luxury brands tap into social media to reach Chinese customer Luxury brands have hit some bumps on the road to expanding their sales in China, so many are coming up with new ways to reach their customers, especially younger ones, by opening up more social media accounts. CCTV’s Hu Xiaocen reports. Prada Sales Slide on Weak Demand. MILAN, Italy — Prada SpA reported the first decline in opening-half sales since its 2011 listing as weak demand in China and terrorist attacks in Europe continued to weigh on the Italian luxury-goods maker.
Revenue fell 15 percent to €1.55 billion ($1.8 billion), the Hong Kong-listed company said in a statement Friday, missing the €1.65 billion average analyst estimate compiled by Bloomberg. Earnings also declined, though by slightly less than analysts predicted. As the wider luxury industry struggles for growth, Prada has been hit harder than most. That is partly because its handbags are too expensive and it is been too slow to invest online, according to Sanford C. Bernstein analysts. “Management sees 2016 as a turning point from where the group will return to growth by focusing on the values that made Prada the iconic company it is today,” the company said in the statement. By Paul Jarvis; editors: Matthew Boyle; Tom Lavell. Related Articles: Prada seeks younger customers in bid for growth.
Image copyright AP Italian luxury fashion group Prada has predicted a return to growth as it seeks to connect with younger customers through online sales and flexible pricing.
First half profits fell 25% to €330m (£282m) due partly to falling demand in China and Italy. But Prada said it saw 2016 as "a turning point. " It has been reviewing prices, product variety and online marketing to appeal to more customers. Revenue fell 15% to €1.55bn compared to this time last year and in April Prada announced its lowest profits in five years. It was previously criticised for opening too many new stores and failing to invest enough online. Prada said it was on track with plans to double its e-commerce sales over the next two years by increasing the number of products it offered online, particularly shoes. It will also expand its social media activities so it can raise its profile among "the 'always connected' millennials," referring to the 20s -30s age group.
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