He is practicing what he preaches and using the situation by pandemic as an opportunity to lead the evolution of Fashion and Marketing.
He also adds that the fashion center in the US should shift in a radical way to the country’s left coast - A suggestion that goes beyond shaking up the fashion cycle and creating valuable e-commerce experiences.
More on London as a creative hub in Fashion And Luxury Communications CEO, Phillip Bodenham, Speaks Out On Fashion’s Trajectory
Socially Conscious consumers want to buy from brands they perceive as good corporate citizens. Universal Standard is one such brand, which is run by Alexandra Waldman and Polina Veksler.
Waldman mentions millions of American women who don’t fit into fashion’s single-digit size ideal. Universal Standard wants to include them in the big picture of societal considerations.
Additionally, women have a hierarchy of dressing needs. First of all, they need to dress in a way that looks practical. After addressing practical aspects of the needs, women want a dress to be presentable. Finally, clothes need to allow their emotions of social activism. For example, how the clothes were produced and how are they thrown out.
Universal Standard takes care of all these aspects and calls in Fashion’s version of Maslow’s hierarchy.
Read the heart-warming story of these women coming together in the year 2015 to create Universal Standard in Bridget Foley’s Diary: Seeking a Better Standard
In this period of trial and error in China, what is the logic of Chanel for not having an online e-commerce strategy when almost all fashion houses are adopting e-commerce? Chanel, the French luxury house, loves to maintain a well-controlled exclusivity.
Prior to the pandemic, and despite the demise of Karl Lagerfeld, Chanel was well placed. Lagerfeld’s former right hand, Virginie Viard was appointed as the new creative lead. In 2020, Chanel reported the revenue went up to $12.3 billion with an operating profit up by approx. 17 percent to $3.5 billion.
Chanel wants its customers to have a physical buying experience. However, how this would pan out especially when there might be more real incentives for the brand to go digital.
Read more about the logic of Chanel to stay with offline stores in Is Chanel’s Offline Strategy Paying Off in China?
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